3 Indian Growth Stocks Backed By Strong Earnings Forecasts

With inflation, interest rates and energy costs pulling markets in different directions, many investors are looking for companies that still have clear earnings growth forecasts and balance sheets that can handle surprises. That is exactly what the Healthy high growth potential screener focuses on. It filters for stocks where analysts expect strong earnings growth over the next 3 years and where the financial footing is not stretched. This article highlights 3 of the best stocks from that screener so you can see how this theme might fit into a long term portfolio.

Overview: Shaily Engineering Plastics is a Vadodara based manufacturer of precision injection moulded plastic components, supplying drug delivery devices, specialty packaging, personal care products, homeware and industrial parts to customers in India and around 40 export markets. The company also provides contract development and manufacturing services to pharmaceutical companies, which ties its growth closely to healthcare and consumer product demand.

Operations: Shaily Engineering Plastics currently generates around ₹9,906.67 million in revenue from customised components made from plastic and other materials.

Market Cap: ₹140.76b

Shaily Engineering Plastics may be worth a closer look for investors seeking exposure to healthcare focused manufacturing with scale and export reach. The company is closely tied to drug delivery trends through its GLP 1 and insulin pen platforms. Recent launches such as the Semaglutide injection on the ShailyPen Neo platform illustrate how deeply it is embedded with multinational pharma partners. Earnings growth has been strong, margins are relatively high at around 17.2%, and return on equity is expected to stay robust, although the current P/E reflects that optimism. At the same time, heavy capex, reliance on overseas demand and regulatory risk around plastics mean that growth expectations carry execution risk that investors may wish to weigh carefully.

Shaily Engineering Plastics sits at the crossroads of high margin healthcare manufacturing and an optimistic P/E that assumes those earnings keep delivering. Before you decide how that balance plays out, review the DCF valuation analysis for Shaily Engineering Plastics.

Overview: Enviro Infra Engineers designs, builds, operates and maintains water and wastewater treatment plants and water supply projects for government bodies across India, handling everything from sewage treatment and common effluent plants to pumping stations and pipeline networks. The company, founded in 2009 and based in Delhi, focuses on long term infrastructure that supports urbanisation and water security.

Operations: Enviro Infra Engineers generates almost all of its revenue in India, with around ₹11,349.57 million from EPC and O&M water and wastewater projects and ₹106.43 million from renewable energy, totalling about ₹11,456.00 million.

Market Cap: ₹38.63b

Enviro Infra Engineers may appeal to investors seeking exposure to water infrastructure backed by government projects. Earnings and revenue are both forecast to grow above 30% per year, and a recent order win of ₹2,569.20 million under the Namami Gange programme adds long term contracted work. The company reports margins of around 16% and a growing book of Hybrid Annuity Model projects. However, the balance sheet relies entirely on higher risk external borrowing, which increases funding and liquidity risk. Management and the board have solid tenure and independence, although pay is relatively high and non cash earnings are elevated. Overall, Enviro Infra Engineers combines higher growth forecasts with balance sheet pressure, warranting close monitoring.

Enviro Infra Engineers is benefiting from strong contract growth while relying heavily on external borrowing, so the real story sits inside the 3 key rewards and 1 important major warning sign

Overview: FSN E-Commerce Ventures, better known as Nykaa, runs an online and offline retail platform that sells beauty, personal care, fashion and home products across India and overseas, using its website, apps and a network of Nykaa branded stores and kiosks. The company also builds its own labels across beauty and fashion, giving it control over product mix and pricing.

Operations: FSN E-Commerce Ventures currently generates most of its revenue from beauty at about ₹91.4b, with fashion contributing roughly ₹8.3b and other activities about ₹507m.

Market Cap: ₹954.50b

FSN E-Commerce Ventures gives you exposure to India’s growing beauty and fashion spending through a mix of online reach and a fast expanding physical store footprint. The core Nykaa beauty business and its House of Nykaa brands, with about ₹290b of annualized GMV, help support margins, while fashion losses have narrowed and group return on capital has reached 14.1%. At the same time, the stock trades on rich valuation metrics and depends on continued high growth and margin gains to justify those expectations. With governance moves, board reappointments and earnings releases scheduled through August 2026, the next few quarters will be crucial in showing whether Nykaa can turn its brand strength into sustained, higher quality profits.

FSN E-Commerce Ventures is growing into a powerful beauty and fashion platform. The real question is how far that story can run from here. Get the full picture with the analyst forecasts for FSN E-Commerce Ventures to see what might be hiding in the next leg of this journey.

The three stocks covered here are just a starting point, with the full Healthy high growth potential screener uncovering 132 more companies that share similarly compelling earnings and balance sheet stories inside the Healthy high growth potential screener. Use Simply Wall St to identify and analyze the specific catalysts and narratives that matter to you, so you can focus on the highest conviction opportunities that fit your own portfolio goals.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data
and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your
financial situation. We aim to bring you long-term focused analysis driven by fundamental data.
Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Simply Wall St has no position in any stocks mentioned.

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