Best Fundamentally Strong Penny Stocks (2024) (2024)

Last Updated on Apr 24, 2024 by Anjali Chourasiya

Fundamentally strong penny stocks are those with good financial basics, even though their stock prices are low. These stocks are characterised by solid earnings growth potential, positive cash flows, manageable debt levels, and strong management teams. While penny stocks generally carry higher risks, identifying fundamentally strong ones can offer investors the potential for significant returns.

In this article, let’s look at the best penny stocks with strong fundamentals in India.

Best fundamentally strong penny stocks – Updated April 2024

Note: The data is from 10th April 2024. The stock selection for fundamentally strong penny stocks was made on Tickertape Stock Screener and based on the following parameters.

• Close Price: Set from 0.02 to 10
• Net Income: Positive – Set the lower value to zero
• Return on Equity: Set to High
• Debt-to-Equity Ratio: Set to Low

Note that these stocks are in no order of preference. Please note that these stock selection criteria and the stocks are provided for informational purposes only; it is essential to conduct your own research.

Details of the top 3 Indian penny stocks with good fundamentals

1. Innocorp Ltd

Founded in 1994, Innocorp is engaged in the manufacturing of plastics products, power infrastructure and trading. The financial and performance details of the company are mentioned below.

• The ROE of the stock is 376.59%.
• The stock is 6.40x as volatile as Nifty.
• Over the last 5 yrs, the debt-to-equity ratio has been -672.85%, vs the industry average of 86.96%.
• The stock’s profitability score is 8.1, showing good signs of profitability and efficiency.

To know more about the stock’s financial performance, click here.

2. Pressure Sensitive Systems India Ltd

Founded in 1987, Pressure Sensitive Systems India Ltd is engaged in the business of real estate activities and trading of shares, commodities or others. The financial and performance details of the company are mentioned below.

• The ROE of the stock is 128.05%.
• The stock is 6.49x as volatile as Nifty.
• Over the last 5 yrs, the debt-to-equity ratio has been 69.39%, vs the industry average of 22.25%.
• The stock’s profitability score is 8.5, showing good signs of profitability and efficiency.

To learn more about the stock’s performance, click here.

3. IEL Ltd

Incorporated in the year 1956, IEL is a smallcap company. They are engaged in providing business support services in the areas of marketing and leasing of warehouses. The financial and performance details of the company are mentioned below.

• The ROE of the stock is 97.32%.
• The stock is 93.91x as volatile as Nifty.
• Over the last 5 yrs, the debt-to-equity ratio has been 0.22%, vs the industry average of 103.86%.
• The stock’s profitability score is 8.1, showing good signs of profitability and efficiency.

To know more about the stock’s financial performance, click here.

To conclude

Stock selection criteria for fundamentally strong penny stocks varies from investor to investor. Remember, it is crucial to conduct your own research before investing. For this purpose, #TickertapeHaiNa! With over 200 filters, custom filters, pre-built screens, custom universes, a linking watchlist, export data, and more features, Tickertape Stock Screener is your perfect companion for finding the next best stock for your portfolio. Don’t wait; seize the opportunity now!