Global Undervalued Small Caps

Indegene

Market Cap: ₹106.4b

Operates as a digital-first life sciences commercialization company in India, the United States, Europe, and internationally.

Vikram Solar

Market Cap: ₹67.0b

Manufactures and sells solar photovoltaic modules/systems in India and internationally.

Security Bank

Market Cap: ₱51.5b

Provides banking and financial products and services to wholesale and retail clients in the Philippines.

Fauji Cement

Market Cap: PK₨96.7b

Engages in the manufacturing and selling of various types of cement in Pakistan.

Inspur Digital Enterprise Technology

Market Cap: HK$4.4b

An investment holding company, engages in management software development, cloud services, and sale of Internet of Things (IoT) solutions in the People’s Republic of China.

Converge Information and Communications Technology Solutions

Market Cap: ₱97.5b

Converge Information and Communications Technology Solutions, Inc.

Future

Market Cap: JP¥144.5b

Provides IT consulting and services primarily in Japan.

FRP Advisory Group

Market Cap: UK£262.1m

Provides business advisory services to companies, lenders, investors, individuals, and other stakeholders in the United Kingdom.

FirstSun Capital Bancorp

Market Cap: US$979.6m

Operates as the bank holding company for Sunflower Bank, National Association that provides commercial and consumer banking and financial services to small and medium-sized companies in the United States.

SILICON2

Market Cap: ₩2.2t

Engages in the distribution of cosmetics products worldwide.

LiveRamp Holdings

Market Cap: US$1.8b

A technology company, operates a data collaboration platform in the United States, Europe, the Asia-Pacific, and internationally.

Altea Green Power

Market Cap: €122.7m

Supplies and manages renewable energy plants in Italy and the United States.

Bilia

Market Cap: SEK 11.6b

Operates as a full-service supplier for car ownership in Sweden, Norway, Luxemburg, and Belgium.

Grupa Pracuj

Market Cap: zł2.7b

Operates HR technology platform in Poland, Ukraine, and Germany.

Orion Group Holdings

Market Cap: US$434.9m

Operates as a specialty construction company for the infrastructure, industrial, and building sectors in the United States, Canada, and the Caribbean Basin.

Lavvi Empreendimentos Imobiliários

Market Cap: R$3.1b

Develops and builds residential and non-residential properties primarily in Brazil.

Trisul

Market Cap: R$1.4b

Engages in the construction and development of real estate properties in Brazil.

Construtora Tenda

Market Cap: R$3.6b

Operates as a construction company in Brazil.

Zevra Therapeutics

Market Cap: US$611.2m

A commercial-stage company, focuses on addressing unmet needs for the treatment of rare diseases in the United States.

North East Rubber

Market Cap: ฿8.8b

Manufactures and sells rubber products in Thailand.

United Electronics

Market Cap: ر.س5.9b

Engages in the wholesale and retail trade of electric appliances, electronic gadgets, computers and their spare parts and accessories, furniture, and office equipment and tools in the Kingdom of Saudi Arabia and internationally.

Telecom Plus

Market Cap: UK£1.1b

Provides utility services in the United Kingdom.

Gibraltar Industries

Market Cap: US$1.3b

Manufactures and provides products and services for the residential, agtech, and infrastructure markets in the United States and internationally.

Palfinger

Market Cap: €1.3b

Provides hydraulic lifting solutions in Austria and internationally.

Boozt

Market Cap: SEK 5.4b

Sells fashion, apparel, shoes, accessories, kids, home, sports, and beauty products online.

Ependion

Market Cap: SEK 3.1b

Provides digital solutions for secure control, management, visualization, and data communication for industrial applications.

Nagarro

Market Cap: €642.2m

Provides digital product engineering and technology solutions in Germany, the United States of America, and internationally.

Voxel

Market Cap: zł1.3b

Provides medical services in Poland.

Warpaint London

Market Cap: UK£172.1m

Produces and sells cosmetics.

Grupo SBF

Market Cap: R$2.4b

Grupo SBF S.A. retails and wholesales sports and leisure products in Brazil.

ASROCK Incorporation

Market Cap: NT$25.8b

Designs, develops, and sells motherboards in Asia, Europe, America, and internationally.

Xiaocaiyuan International Holding

Market Cap: HK$9.3b

An investment holding company, engages in the restaurant business in the People’s Republic of China.

Eternal Beauty Holdings

Market Cap: HK$2.7b

An investment holding company, engages in the retail, wholesale, and distribution of perfumes, skincare products, color cosmetics, personal care products, eyewear, and home fragrances in China, including Hong Kong and Macau.

Hugel

Market Cap: ₩2.6t

Develops and manufactures biopharmaceuticals in South Korea and internationally.

Deepak Fertilisers And Petrochemicals

Market Cap: ₹123.3b

Engages in the manufacture, trade, and sale of bulk chemicals in India.

Tracsis

Market Cap: UK£92.3m

Engages in the provision of software, hardware, data analytics and geographic information systems, and services in the United Kingdom, Ireland, rest of Europe, Europe, North America, and internationally.