Top 10 Multibagger Stocks of 2023

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Multibagger Stocks: Did you know that in the past five years, more than 190 stocks have achieved multibagger returns? However, finding those multi-bagger companies will not easy task. But today we will go to discuss 10 stocks that give multibagger returns in the future also.


Top 10 Multibagger Stocks
Top 10 Multibagger Stocks


List of Top 10 Multibagger Stocks of 2023

1. Deepak Nitrite

A well-known manufacturer of chemicals is Deepak Nitrite Ltd. The firm, which was established in 1970, aims to aid the nation’s efforts to replace imports with domestic production.

Deepak Nitrite serves a variety of sectors, including colorants, petrochemicals, agrochemicals, etc. It is one of the top worldwide players in a number of specialized chemical products, including Xylidines, Cumidines, Oximes, and color intermediates.

DNL has a significant customer base, serving more than 900 clients in more than 40 countries, and has good competitive positioning in the majority of its product categories.

2. Gokul Agro Resources Limited

Gokul Agro Resources Limited offers goods and services for milling grains and oilseeds. The company provides operational, manufacturing, and processing services, as well as edible oils, cereals, spices, and oil seeds.

Additionally, the company’s sales and revenue are rising, and its earnings per share are also improving.

Gokul Agro Limited’s stock is now trading at Rs. 83, and it has a market value of Rs. 1.08 trillion and a profit-to-earnings ratio of 12.28.

3. Meghmani Finechem Ltd.

This is one of the few stocks this year that has maintained its flight despite both domestic and international storms. It really qualifies as a multi-bagger when returns of an astounding 74% are achieved in just 4 months, especially during difficult conditions.

Increased ownership by FII/FPI or Institutions is responsible for the company’s over 20% growth in a single month. Additionally, significant QoQ EPS Growth was shown in the most recent data. The firm has an advantage over its competitor’s thanks to increasing QoQ profitability over the last four quarters and a zero promoter pledge.

However, a poor Piotroski score and a decline in promoter shares demand attention.

4. Balaji Amines Ltd

The leading producer of ethyl and methyl amines since its incorporation in 1988 is Balaji Amines Ltd. The company’s goods have established a distinct export quality status, making it one of the few in India to meet the exacting requirements of quality

The company’s market share rose from 1.49 percent to 2.38 percent during the past five years. The stock’s absolute returns on equity ranged from 676.77 percent from Rs 376.05 on May 17, 2017, to Rs 2,921.05 on May 16, 2022. Over the past five years, Balaji Amines’ average revenue growth has been 16.31%, compared to the industry’s average of 3.93%. Additionally, the company’s net income is larger (40.13%) than the 8.19% industry average.

5. Tata Elxsi Limited

Tata Elxsi, which was founded in India’s Silicon Valley, is one of the top suppliers of design and technology to a wide range of markets, including the automotive, broadcast, communications, healthcare, and transportation sectors. Future technologies like artificial intelligence (AI), digital learning, and autonomous automobiles are always investments for corporations with varied portfolios. Tata Elxsi, therefore, provides services to several well-known corporations throughout the world, including Microsoft and Google Cloud.

In the past five years, the share price of Tata Elxsi has climbed as high as Rs 9,420.00, yielding absolute gains of 939.71 percent and a CAGR of 59.72 percent. Additionally, during the previous five years, the company’s revenue has increased at an annual pace of 11.41 percent as opposed to the industry average of 8.4 percent.

6. Genesys International Corporation

A multibagger small-cap stock named Genesys International Corporation has increased 177.48 percent during the last six months. According to the company’s most recent ownership pattern as of December 31st, renowned investor Ashish Kacholia also bought shares of the mutlibagger small-cap firm.

According to the December ownership pattern published on the BSE, Kacholia possessed 6,08,752 equity shares in Genesys International Corporation, translating to 1.95 percent interests.

7. Associated alcholos & Brewaries Ltd

Associated Alcohols & Breweries Limited is A distillery firm engaged in the production of alcoholic liquor. It works via the section for potable alcohol. Additionally, it works with multinational companies, bottling vodka and Scotch whiskey.

It is present in all varieties of alcoholic beverages that are fit for human consumption, as well as in rectified spirits, extra-neutral alocholos, distilled grain spirits, foreign liquor made in India that falls into the whisky, brandy, rum, gin, and vodka categories, and scotch whisky that is bottled for other international brands.

It produces and sells its own brands, including Red & White, James McGill Bombay Special (in the whisky and gin categories), London Bridge, and Jamaican Magic (in the rum area).

8. Mas Financials

A non-banking financial institution with over 25 years of solid performance, MAS Financial specializes in retail financial services. With a range of financing options, the company’s present focus is on meeting the unmet credit requirements of lower- and middle-income consumers.

The demographics and stage of development of the nation indicate that there is a significant unmet demand in the areas of home finance, auto financing, and MSME finance. Companies like MAS, who have gained knowledge and competence through time, are anticipated to maintain their competitive advantage in this market. The firm had 4438 sites in rural, semi-urban, and metropolitan areas, with over 700,000 active consumers as of March 2020.

9. Alkyl Amines Chemicals Ltd

Since its founding in 1979, Alkyl Amines Chemicals has served the pharmaceutical, agrochemical, rubber chemical, and water treatment sectors as a major supplier of amines and amine-based chemicals. By providing high-quality goods and services, the firm seeks to make India self-sufficient in aliphatic amines while upholding its dedication to customer satisfaction. As a result, Alkyl Amines rose to become one of the top amine producers in the world.

Over the past five years, the market has mirrored the same. Absolute returns on the stock have increased by 1,577.35 percent, from Rs 180.52 on May 17, 2017, to Rs 3,027.95 on May 16, 2022. With revenue growth of 21.28 percent, which is greater than the 3.93 percent industry average, the firm is a leader in the sector.

10. IndiaMart

IndiaMART is the largest B2B marketplace in India With a market share of 60% in online B2B listings, The business offers a platform for discovering products and prices and promoting connections between suppliers and customers. Due to the platform’s ability to support two-way communication, both buyers and suppliers may make requests for quotes.

IndiaMART, a blatant market leader, receives more than 10 times as many visitors to its webpage each month as its nearest rival. It now has listings in 60 product categories, covering 7.1 million supplier storefronts, and has received 72 million business inquiries from 149 million registered buyers.


Investor favorites are multi-bagger stocks. They provide many rewards and maintain the health of your portfolio. However, it is preferable to conduct research or speak with a financial counselor before making any investing decisions.


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