Stock Screen · India
Magic Formula Stocks in India
Screen as of 19 September 2026 · 25 stocks currently qualify
This page lists the Indian stocks that currently qualify under the Magic Formula screen — a systematic, rules-based stock screen based on the work of Joel Greenblatt (The Little Book That Beats the Market). These are the stocks the screen identifies; the page is informational only and is not a recommendation.
What is the Magic Formula screen?
Rank every stock by two things: how good the business is (Return on Capital) and how cheap it is (Earnings Yield). The screen selects the top 25 that rank highest on both. Rebalance annually. No judgment calls — pure systematic investing.
How this screen works
Each qualifying stock is ranked on two measures — earnings yield (EBIT ÷ enterprise value) and return on capital (EBIT ÷ invested capital) — and those ranks are combined. Stocks that rank high on both score highest. To qualify, a stock must have positive EBIT, positive invested capital, positive enterprise value, and meet the minimum market-cap floor. The 0–100 score is a relative ranking against other qualifying stocks, not an absolute rating.
Methodology
- Rebalance: Annual
- Portfolio size: Top 25
- Minimum market cap: ₹500 crore
- Excludes: Banks, NBFCs, Utilities
What changed this period
No stocks entered or left the Magic Formula screen since the prior screen on 12 September 2026.
Stocks that qualify (25)
| Rank | Symbol | Company | Earnings Yield | Return on Capital |
|---|---|---|---|---|
| 1 | JPOLYINVST | Jindal Poly Investment & Finance Company Ltd | 96.8% | 64.0% |
| 2 | SPARC | Sun Pharma Advanced Research Company Ltd | 23.1% | 85.9% |
| 3 | CHENNPETRO | Chennai Petroleum Corporation Ltd | 28.9% | 53.5% |
| 4 | AWFIS | AWFIS Space Solutions Ltd | 28.9% | 47.5% |
| 5 | BLAL | BEML Land Assets Ltd | 17.3% | 103.6% |
| 6 | WEWORK | Wework India Management Ltd | 18.3% | 46.1% |
| 7 | WEBELSOLAR | Websol Energy System Ltd | 15.6% | 68.9% |
| 8 | INDUSTOWER | Indus Towers Ltd | 21.0% | 41.5% |
| 9 | SHARDACROP | Sharda Cropchem Ltd | 18.2% | 43.5% |
| 10 | ECOSMOBLTY | Ecos (India) Mobility & Hospitality Ltd | 17.3% | 44.6% |
| 11 | ABLBL | Aditya Birla Lifestyle Brands Ltd | 16.1% | 50.2% |
| 12 | SMARTWORKS | Smartworks Coworking Spaces Ltd | 19.2% | 39.8% |
| 13 | STYRENIX | Styrenix Performance Materials Ltd | 14.4% | 50.0% |
| 14 | PANAMAPET | Panama Petrochem Ltd | 15.1% | 41.5% |
| 15 | NATIONALUM | National Aluminium Company Ltd | 14.4% | 45.2% |
| 16 | ACCELYA | Accelya Solutions India Ltd | 12.6% | 85.3% |
| 17 | PRSMJOHNSN | Prism Johnson Ltd | 16.6% | 38.7% |
| 18 | VRLLOG | VRL Logistics Ltd | 14.8% | 41.1% |
| 19 | ZEEMEDIA | Zee Media Corporation Ltd | 28.8% | 34.0% |
| 20 | ORIENTCEM | Orient Cement Ltd | 27.2% | 33.5% |
| 21 | KPEL | K.P. Energy Ltd | 17.0% | 37.3% |
| 22 | ALLCARGO | Allcargo Logistics Ltd | 18.0% | 36.3% |
| 23 | SHOPERSTOP | Shoppers Stop Ltd | 17.2% | 36.2% |
| 24 | HINDZINC | Hindustan Zinc Ltd | 11.4% | 95.8% |
| 25 | GTPL | GTPL Hathway Ltd | 38.1% | 31.5% |
This screen shows the ranked list above. In the app you can also see each stock's 0–100 conviction score, which ace investors hold these stocks, and how they rank across StrategyMint's other strategies.
Open the Magic Formula screen in StrategyMint →