Stock Screen · India
Piotroski F-Score Stocks in India
Screen as of 20 June 2026 · 30 stocks currently qualify
This page lists the Indian stocks that currently qualify under the Piotroski F-Score screen — a systematic, rules-based stock screen based on the work of Joseph Piotroski (Academic paper, 2000). These are the stocks the screen identifies; the page is informational only and is not a recommendation.
What is the Piotroski F-Score screen?
Score every stock on 9 binary signals across profitability, leverage, and efficiency. Score 8-9 = financially strong. Especially powerful in India as a fraud and distress filter before applying any other strategy.
How this screen works
Each stock earns one point for each of nine pass/fail tests of financial health, grouped into profitability (positive return on assets, positive operating cash flow, improving return on assets, and cash earnings exceeding reported profit), leverage and liquidity (falling debt ratio, improving current ratio, no new share issuance), and operating efficiency (expanding gross margin, improving asset turnover). To qualify, a stock must clear the minimum market-cap floor and score at least 5 of 9. The 0–100 score is a relative ranking of the F-Scores among qualifying stocks, not an absolute rating.
Methodology
- Rebalance: Annual
- Portfolio size: Top 30
- Minimum market cap: ₹100 crore
- Excludes: None — works across all sectors
What changed this period
Since the prior screen on 13 June 2026, 12 stocks newly qualified under the screen (APCOTEXIND, APLLTD, APOLLOTYRE, ENERGYDEV, GATEWAY, HCG, HEIDELBERG, HESTERBIO, IPCALAB, UMIYA-MRO, UNIDT, VARROC) and 12 stocks no longer met the screen's criteria (SAIL, SAMBHV, SANDUMA, SFL, SHAILY, SIMPLEXINF, STARCEMENT, SUNFLAG, THYROCARE, TIMETECHNO, TNPL, TTKPRESTIG).
Stocks that qualify (30)
| Rank | Symbol | Company | F-Score | ROA | Current Ratio | Gross Margin |
|---|---|---|---|---|---|---|
| 1 | GULPOLY | Gulshan Polyols Ltd | 9/9 | 8.2% | 2.04 | 9.9% |
| 2 | ANMOL | Anmol India Ltd | 9/9 | 3.2% | 12.21 | 1.3% |
| 3 | STERTOOLS | Sterling Tools Ltd | 9/9 | 9.2% | 4.58 | 14.2% |
| 4 | KENNAMET | Kennametal India Ltd | 9/9 | 13.4% | 3.32 | 16.5% |
| 5 | JAYBARMARU | Jay Bharat Maruti Ltd | 9/9 | 7.6% | 0.84 | 11.1% |
| 6 | SAURASHCEM | Saurashtra Cement Ltd | 9/9 | 0.9% | 1.24 | 3.1% |
| 7 | RUCHINFRA | Ruchi Infrastructure Ltd | 9/9 | 3.4% | 2.48 | 26.2% |
| 8 | HARIOMPIPE | Hariom Pipe Industries Ltd | 9/9 | 6.4% | 4.07 | 12.5% |
| 9 | RAMCOSYS | Ramco Systems Ltd | 9/9 | 0.5% | 1.26 | 30.3% |
| 10 | PUNJABCHEM | Punjab Chemicals & Crop Protection Ltd | 9/9 | 7.1% | 2.09 | 11.3% |
| 11 | RKSWAMY | R K Swamy Ltd | 9/9 | 5.0% | 2.92 | 11.3% |
| 12 | GVPIL | GE Power India Ltd | 9/9 | 11.2% | 1.33 | 20.4% |
| 13 | MRF | MRF Ltd | 9/9 | 7.5% | 1.53 | 15.5% |
| 14 | ASAL | Automotive Stampings & Assemblies Ltd | 9/9 | 8.4% | 1.33 | 6.5% |
| 15 | M&M | Mahindra & Mahindra Ltd | 9/9 | 13.0% | 1.20 | 15.7% |
| 16 | METROPOLIS | Metropolis Healthcare Ltd | 9/9 | 9.1% | 1.03 | 24.8% |
| 17 | HEIDELBERG | HeidelbergCement India Ltd | 8/9 | 5.5% | 0.97 | 12.3% |
| 18 | HESTERBIO | Hester Biosciences Ltd | 8/9 | 9.3% | 2.02 | 24.7% |
| 19 | VARROC | Varroc Engineering Ltd | 8/9 | 6.4% | 0.99 | 10.6% |
| 20 | HCG | Healthcare Global Enterprises Ltd | 8/9 | 0.5% | 3.70 | 17.7% |
| 21 | APOLLOTYRE | Apollo Tyres Ltd | 8/9 | 9.0% | 1.21 | 14.5% |
| 22 | GATEWAY | Gateway Distriparks Ltd | 8/9 | 10.0% | 2.02 | 23.6% |
| 23 | ENERGYDEV | Energy Development Company Ltd | 8/9 | -7.9% | 2.95 | 31.6% |
| 24 | IPCALAB | Ipca Laboratories Ltd | 8/9 | 8.4% | 2.53 | 23.9% |
| 25 | APCOTEXIND | Apcotex Industries Ltd | 8/9 | 10.2% | 1.84 | 12.3% |
| 26 | UNIDT | United Drilling Tools Ltd | 8/9 | 6.3% | 11.57 | 15.9% |
| 27 | UMIYA-MRO | Umiya Buildcon Ltd | 8/9 | 15.9% | 2.95 | 25.9% |
| 28 | ULTRACEMCO | UltraTech Cement Ltd | 8/9 | 5.8% | 0.68 | 18.8% |
| 29 | TVSMOTOR | TVS Motor Company Ltd | 8/9 | 13.9% | 0.68 | 12.9% |
| 30 | APLLTD | Alembic Pharmaceuticals Ltd | 8/9 | 7.9% | 3.26 | 16.0% |
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 Piotroski F-Score screen in StrategyMint →