Mainboard IPOs with the fastest profit growth
Which IPOs grew profit after tax fastest in the years before the issue?
190 mainboard IPOs newboard has studied give this figure in their offer documents. The median profit growth a year is 45.2%, and the middle half run from 23.6% to 95.9%. Polite Powertech is first, at 1,446.9% (profit, first year ₹0.8 cr; profit, latest year ₹13 cr).
Ranked on 4 Oct 2026; the first 50 of 190 are shown. The list moves as studies are added.
| # | Issue | Stage | Profit growth a year | Profit, first year | Profit, latest year |
|---|---|---|---|---|---|
| 1 | Polite Powertech | DRHP filed | 1,446.9% | ₹0.8 cr | ₹13 cr |
| 2 | Allied Engineering Works | DRHP filed | 1,074.4% | ₹1 cr | ₹140 cr |
| 3 | Deon Energy | DRHP filed | 985.5% | ₹0.2 cr | ₹26.2 cr |
| 4 | Jindal Supreme (India) | Listed | 518.2% | ₹0.6 cr | ₹24.3 cr |
| 5 | Sadbhav Futuretech | DRHP filed | 502.7% | ₹0.8 cr | ₹30.8 cr |
| 6 | Gaurik Fashions | DRHP filed | 493.6% | ₹0.3 cr | ₹12.3 cr |
| 7 | Tanvi Exports India | DRHP filed | 404.4% | ₹2.6 cr | ₹65.8 cr |
| 8 | Playsimple Games | DRHP filed | 390.5% | ₹14.9 cr | ₹359 cr |
| 9 | Kataria Dhulchand Pannalal Jewellers | DRHP filed | 334.7% | ₹2.4 cr | ₹44.6 cr |
| 10 | M. K. Sons Fine Jewels | DRHP filed | 316.8% | ₹1.3 cr | ₹23.3 cr |
| 11 | Shivganga Drillers | DRHP filed | 299% | ₹3.9 cr | ₹62.3 cr |
| 12 | Bonbloc Technologies | DRHP filed | 298.7% | ₹2.1 cr | ₹33.5 cr |
| 13 | Appl Containers | DRHP filed | 297% | ₹2.1 cr | ₹32.8 cr |
| 14 | Rayzon Solar | Lapsed | 294.7% | ₹3.9 cr | ₹60.9 cr |
| 15 | Arete 22 | DRHP filed | 292.5% | ₹2.9 cr | ₹45 cr |
| 16 | Learnfluence Education | DRHP filed | 270.8% | ₹1.4 cr | ₹19.3 cr |
| 17 | Sai Infinium | DRHP filed | 266.3% | ₹6.1 cr | ₹82.4 cr |
| 18 | Cosmic Pv Power | DRHP filed | 264.9% | ₹1.8 cr | ₹24.4 cr |
| 19 | Jagatjit Agri Engineering | DRHP filed | 254.2% | ₹2.5 cr | ₹31.4 cr |
| 20 | Oswal Energies | DRHP filed | 251% | ₹5.3 cr | ₹65.8 cr |
| 21 | Associated Power Structures | DRHP filed | 246.5% | ₹5.3 cr | ₹63.3 cr |
| 22 | Pentacle Consultants (I) | DRHP filed | 215.9% | ₹2.9 cr | ₹28.9 cr |
| 23 | Sunil Gold India | DRHP filed | 189.3% | ₹3.6 cr | ₹30.2 cr |
| 24 | Matangi Rubber | DRHP filed | 170.3% | ₹2.7 cr | ₹20 cr |
| 25 | Vishal Nirmiti | Live | 169.2% | ₹3.4 cr | ₹25 cr |
| 26 | Absolute Projects (India) | DRHP filed | 169.1% | ₹2.9 cr | ₹21 cr |
| 27 | Functional & Innovative Foods | DRHP filed | 168.4% | ₹3.2 cr | ₹23.2 cr |
| 28 | Momai Art | DRHP filed | 158.7% | ₹5.8 cr | ₹39 cr |
| 29 | Tmc Transformers India | DRHP filed | 151.8% | ₹15.1 cr | ₹95.7 cr |
| 30 | Royal Chain | DRHP filed | 151.7% | ₹27.4 cr | ₹173 cr |
| 31 | Nityas Gems and Jewellery | Live | 135.5% | ₹4 cr | ₹22.3 cr |
| 32 | Mehta Hitech Industries | DRHP filed | 125.6% | ₹3.6 cr | ₹18.5 cr |
| 33 | Jay Jagdamba | UDRHP filed | 125.5% | ₹51.5 cr | ₹262 cr |
| 34 | Maharashtra Oil Extractions | DRHP filed | 122.9% | ₹17.4 cr | ₹86.2 cr |
| 35 | Transline Technologies | DRHP filed | 121.2% | ₹9.9 cr | ₹48.3 cr |
| 36 | Kianm Export | DRHP filed | 118.8% | ₹8.8 cr | ₹42.2 cr |
| 37 | Baanganga Gold & Diamond (I) | DRHP filed | 113.2% | ₹24.6 cr | ₹112 cr |
| 38 | Pragyawan Technologies | DRHP filed | 112.4% | ₹8.8 cr | ₹39.9 cr |
| 39 | Master Chains N Jewels | DRHP filed | 110.1% | ₹22 cr | ₹97.3 cr |
| 40 | Arjun Jewellers | DRHP filed | 110% | ₹6.2 cr | ₹27.2 cr |
| 41 | G. Surgiwear | DRHP filed | 106.9% | ₹13.5 cr | ₹58 cr |
| 42 | Renfra Energy India | DRHP filed | 106.3% | ₹36.9 cr | ₹157 cr |
| 43 | Pioneer Fabricators | DRHP filed | 104.1% | ₹6.1 cr | ₹25.6 cr |
| 44 | Integrum Energy Infrastructure | DRHP filed | 103.3% | ₹15.3 cr | ₹63.2 cr |
| 45 | Premier Industrial Corporation | DRHP filed | 101.1% | ₹12.7 cr | ₹51.2 cr |
| 46 | Cotec Healthcare | DRHP filed | 99.4% | ₹5 cr | ₹20 cr |
| 47 | M P Steel(India) | DRHP filed | 98.3% | ₹4 cr | ₹15.8 cr |
| 48 | Soleos Energy | DRHP filed | 97.8% | ₹5.5 cr | ₹21.5 cr |
| 49 | Pioneer Fil-Med | DRHP filed | 90.3% | ₹11.2 cr | ₹40.4 cr |
| 50 | Punjab Carbonic | DRHP filed | 89.7% | ₹7.3 cr | ₹26.2 cr |
How this list is ranked
Profit after tax growth a year over the record each offer document gives, from its restated statements. Issues with a loss in the first year are left out, since a growth rate from a loss has no meaning. A small first-year profit makes any later year look like fast growth; the first and latest profit are shown beside it. A list ranks the issues by one figure from each offer document. It places them; it says nothing about whether any of the shares is worth owning.
More lists: growth
The day's IPOs each morning, and allotment the minute it is out, on Telegram
One short post each morning: what opens, closes and lists today, and the new offer-document studies. The allotment status the moment it goes live. An IPO list on Saturdays and the week ahead on Sundays. Each one is a fact and a link, with the figures on the card.
Free, no account, leave in one tap.