6 Fundamentally strong stocks under ₹200 with PEG ratio less than 1 to add to your watchlist

Several fundamentally strong small-cap stocks priced under Rs. 200 can be a powerful strategy for investors seeking high-potential opportunities at reasonable valuations. When combined with a PEG ratio below 1, a key indicator that a stock may be undervalued relative to its growth prospects, these companies often stand out as hidden gems in the market. 

In this article, we explore promising small-cap contenders that pair solid financial foundations with attractive growth metrics, offering investors a balanced blend of value and future upside.

GK Energy Limited

With a market capitalization of Rs. 3,289.70 crore, the shares of GK Energy Limited were currently trading at Rs. 162.20 per equity share, down nearly 1.13 percent from its previous day’s close price of Rs. 164.05. 

GK Energy Limited has a PEG ratio of 0.07. The Company’s revenue has increased from Rs. 325 crore in Q1 FY26 to Rs. 404 crore in Q2 FY26, which has grown by 24.31 percent. The net profit has also grown by 27.03 percent from Rs. 37 crore in Q1 FY26 to Rs. 47 crore in Q2 FY26.

GK Energy Limited is India’s largest pure-play EPC provider for solar-powered agricultural water pumps under the PM-KUSUM scheme. It offers end-to-end solutions, including survey, design, installation, and maintenance across key states like Maharashtra and Rajasthan.

Patel Engineering Limited

With a market capitalization of Rs. 3,038.91 crore, the shares of Patel Engineering Limited were currently trading at Rs. 35.99 per equity share, down nearly 0.69 percent from its previous day’s close price of Rs. 36.24. 

Patel Engineering Limited has a PEG ratio of 0.14. The Company’s revenue has increased from Rs. 1,174 crore in Q2 FY25 to Rs. 1,208 crore in Q2 FY26, which has grown by 2.90 percent. The net profit remained stable at Rs. 73 crore for both Q2 FY25 and Q2 FY26.

Patel Engineering Limited was founded in 1949. The company provides integrated infrastructure construction services across dams, tunnels, hydroelectric projects, highways, bridges, and real estate developments like townships and malls in India.

Insolation Energy Limited

With a market capitalization of Rs. 3,134.38 crore, the shares of Insolation Energy Limited were currently trading at Rs. 142.25 per equity share, rising nearly 0.21 percent from its previous day’s close price of Rs. 141.95. 

Insolation Energy Limited has a PEG ratio of 0.13. The Company’s revenue has increased from Rs. 612 crore in H1 FY25 to Rs. 777 crore in H1 FY26, which has grown by 26.96 percent. The net profit has also grown by 31.15 percent from Rs. 61 crore in H1 FY25 to Rs. 80 crore in H1 FY26.

Insolation Energy Limited is a leading manufacturer of solar panels and modules with 5.5 GW capacity in Jaipur facilities. It produces PV modules, cells, and frames for residential, commercial, and solar farm applications nationwide.

Marksans Pharma Limited

With a market capitalization of Rs. 8,900.14 crore, the shares of Marksans Pharma Limited were currently trading at Rs. 196.40 per equity share, rising nearly 4.41 percent from its previous day’s close price of Rs. 188.10. 

Marksans Pharma Limited has a PEG ratio of 0.91. The Company’s revenue has increased from Rs. 642 crore in Q2 FY25 to Rs. 720 crore in Q2 FY26, which has grown by 12.15 percent. The net profit has also grown by 1.02 percent from Rs. 98 crore in Q2 FY25 to Rs. 99 crore in Q2 FY26.

Marksans Pharma Limited is an Indian pharmaceutical firm researching, manufacturing, and marketing OTC and prescription drugs like pain relief, antibiotics, and antidiabetics. It exports to over 50 countries with facilities in India, the UK, and the US.

Vikran Engineering Limited

With a market capitalization of Rs. 2,666.80 crore, the shares of Vikran Engineering Limited were currently trading at Rs. 103.40 per equity share, down nearly 2.82 percent from its previous day’s close price of Rs. 106.40. 

Vikran Engineering Limited has a PEG ratio of 0.34. The Company’s revenue has increased from Rs. 159.24 crore in Q2 FY25 to Rs. 176.29 crore in Q2 FY26, which has grown by 10.71 percent. The net profit has also grown by 339.42 percent from Rs. 2.08 crore in Q2 FY25 to Rs. 9.14 crore in Q2 FY26.

Vikran Engineering Limited is a fast-growing EPC company delivering turnkey infrastructure projects in power transmission and substations up to 765kV, water supply, and railways, including design, supply, construction, and commissioning pan-India.

Redtape Limited

With a market capitalization of Rs. 7,214.14 crore, the shares of Redtape Limited were currently trading at Rs. 130.50 per equity share, down nearly 0.76 percent from its previous day’s close price of Rs. 131.50. 

Redtape Limited has a PEG ratio of 0.50. The Company’s revenue has increased from Rs. 416 crore in Q2 FY25 to Rs. 492 crore in Q2 FY26, which has grown by 18.27 percent. The net profit has also grown by 12 percent from Rs. 25 crore in Q2 FY25 to Rs. 28 crore in Q2 FY26.

Redtape Limited is a premium lifestyle brand offering footwear, clothing, and accessories for men, women, and kids with international styles. It operates more than 390 stores across India and exports to the UK, US, and other global markets.

Written By – Nikhil Naik

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