Here are some Indian public companies whose stocks have delivered more than 500% returns over the past five years (about mid‑2020 to mid‑2025):
Stocks with >500% returns in last five years
Blue‑chip / Established names
- HAL (Hindustan Aeronautics Ltd.) – up ~1,468% over five years, driven by government defence orders and order book growth under “Make in India”
- BEL (Bharat Electronics Ltd.) – surged about ~1,099% over five years supported by rising defence capex.
- Reliance Infrastructure – up over ~1,400% across five years, with recent growth fueled by a Dassault jet-making tie‑up and capital infusion .
Multibagger mid/small‑caps (strong five‑year gains)
- KEI Industries – ~1,276% return
- Minda Industries – ~1,250% return
- Bajaj Finance – ~1,220% return
- Indiabulls Ventures – ~908% return
- SpiceJet – ~705%
- Bajaj Finserv – ~603%
- Aegis Logistics – ~603%
- Caplin Point Laboratories – ~574%
- Phillips Carbon – ~507%
Additional strong performers:
- Deepak Nitrite – ~650% return over five years
- Navin Fluorine International – around ~500% over five years
Summary Table
Company | Approx. Five‑Year Return | Notes |
Hindustan Aeronautics (HAL) | ~1,468% | Defence sector, strong orderbook |
Bharat Electronics (BEL) | ~1,099% | Tech & defence beneficiary |
Reliance Infrastructure | ~1,400% | Recent structural catalysts |
KEI Industries | ~1,276% | Industrial wires & cables |
Minda Industries | ~1,250% | Auto components manufacturing |
Bajaj Finance | ~1,220% | NBFC sector growth |
Indiabulls Ventures | ~908% | Financial services |
SpiceJet | ~705% | Turnaround airline |
Bajaj Finserv | ~603% | Financial conglomerate |
Aegis Logistics | ~603% | Logistics & supply chain |
Caplin Point Labs | ~574% | Pharma CRO services |
Phillips Carbon | ~507% | Carbon electrode manufacturing |
Deepak Nitrite | ~650% | Specialty chemicals |
Navin Fluorine Int’l | ~500% | Green chemistry/fluorochemicals |
Notes & Considerations
- Timeframes vary: Most five‑year windows end earlier in 2022; more recent market volatility may change exact return profiles
- High volatility and concentrations: Many of these are small- and mid-cap stocks subject to company-specific risks and market cycles.
- Not current valuations: Past returns do not guarantee future performance; today’s price-to-earnings or balance-sheet positions need separate review.
- Diversification matters: A strategy focusing just on past top performers could miss broader market exposure — consider balanced portfolios or index‑based investing as well .
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