Indian Undervalued over 20% based on DCF

Wheels India

Market Cap: ₹25.5b

Together with its subsidiary, engages in the manufacture and sale of automotive and industrial components in India and internationally.

Dishman Carbogen Amcis

Market Cap: ₹25.0b

Provides contract research and manufacturing services for the pharmaceutical and healthcare industries worldwide.

Utkarsh Small Finance Bank

Market Cap: ₹24.0b

Provides banking and financial services for individuals and businesses in India.

Jain Irrigation Systems

Market Cap: ₹23.7b

Manufactures and sells micro-irrigation systems in India, Europe, North America, and internationally.

Pennar Industries

Market Cap: ₹22.1b

Operates as an engineering company in India and internationally.

Camlin Fine Sciences

Market Cap: ₹20.1b

Research, develops, manufactures, and markets specialty chemicals, ingredients, and additive blend products in India and internationally.

TeamLease Services

Market Cap: ₹19.9b

Engages in human resource services in India and internationally.

MSP Steel & Power

Market Cap: ₹19.8b

Manufactures and trades for the sale of iron and steel products in India and internationally.

Bajel Projects

Market Cap: ₹19.5b

Engages in the engineering, procurement, and construction (EPC) for power transmission and distribution projects in India and internationally.

Hinduja Global Solutions

Market Cap: ₹19.0b

Provides business process management services in the United States, Canada, the United Kingdom, Europe, India, Philippines, and internationally.

Indoco Remedies

Market Cap: ₹18.7b

Manufactures and markets formulations and active pharmaceutical ingredients in India and internationally.

Landmark Cars

Market Cap: ₹17.6b

Engages in the automotive retail business in India.

Elpro International

Market Cap: ₹16.2b

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

Panama Petrochem

Market Cap: ₹16.2b

Engages in the manufacture and sale of specialty petroleum products for printing, textile, rubber, pharmaceutical, cosmetic, power, and other industrial oil industries in India and internationally.

Magellanic Cloud

Market Cap: ₹15.4b

An IT service organization, provides a robust portfolio of cutting-edge digital and IT-enabled services.

D-Link (India)

Market Cap: ₹15.1b

Engages in the marketing and distribution of D-Link branded networking products for consumers, small businesses, medium to large-sized enterprises, and service providers in India.

Go Fashion (India)

Market Cap: ₹15.0b

Engages in designing, developing, sourcing, marketing, and retailing of women’s and girl’s bottom-wear products under the Go Colors brand in India.

Sanghi Industries

Market Cap: ₹13.8b

Manufactures and markets cement and clinker in India.

Venus Remedies

Market Cap: ₹13.3b

Engages in the pharmaceutical business in India and internationally.

Aurum PropTech

Market Cap: ₹13.1b

Engages in the business of software development for real estate and other services in India.

Amir Chand Jagdish Kumar (Exports)

Market Cap: ₹13.1b

Engages in the procurement, storage, processing, producing, marketing, exports, and sale of rice other FMCG products in India.

Alldigi Tech

Market Cap: ₹12.6b

Provides business process solutions in India and internationally.

ESAF Small Finance Bank

Market Cap: ₹12.0b

Provides banking products and services to retail, rural, and corporate customers in India.

HMA Agro Industries

Market Cap: ₹11.9b

Manufactures and exports frozen buffalo meat and related products in India, Vietnam, Indonesia, Hong Kong, Malaysia, Egypt, and internationally.

Expleo Solutions

Market Cap: ₹11.7b

Primarily provides software validation and verification services to the banking, financial services, and insurance industries worldwide.

Lincoln Pharmaceuticals

Market Cap: ₹11.5b

Engages in manufacturing and trading of pharmaceutical products in India.

Himatsingka Seide

Market Cap: ₹11.3b

Designs, develops, manufactures, distributes, and retails textile products in North America, India, the Asia Pacific, Europe, the Middle East, Africa, and internationally.

United Foodbrands

Market Cap: ₹11.0b

Owns and operates a chain of casual dining restaurants under the Barbeque Nation brand name.

Laxmi Dental

Market Cap: ₹10.4b

Manufactures and sells dental products in India, the United States, the United Kingdom, and internationally.

Borosil Scientific

Market Cap: ₹10.4b

Engages in the manufacture and sale of laboratory glassware.

India Power

Market Cap: ₹8.9b

Engages in the generation and distribution of electricity in India.

Sterling Tools

Market Cap: ₹8.6b

Manufactures and sells high tensile cold forged fasteners to original equipment manufacturers in India.

Arrow Greentech

Market Cap: ₹8.6b

Engages in the manufacture and sale of water-soluble films, bio-compostable products, and other green products in India and internationally.

Master Trust

Market Cap: ₹8.2b

Provides financial services in India.

NCL Industries

Market Cap: ₹8.2b

Manufactures and sells building materials in India.

Sudarshan Colorants India

Market Cap: ₹7.7b

Engages in the manufacture and sale of specialty chemicals in India and internationally.