Since September 2024, the market has been in a deep correction mode, and honestly, it’s been a bit of a rollercoaster for most of us. But here’s the thing, corrections like these often unearth some hidden opportunities, especially when you dig into the fundamentals of individual stocks. That’s exactly what I’m here to talk about today in this Q3 December update for 2025. Check a list of 6 stocks.
I’ve got some fresh data on six Indian stocks that have caught my attention. I’m excited to break it down for you. We’ll be looking at their EPS (Earnings Per Share) growth across different timeframes, quarter-on-quarter (QoQ), year-on-year (YoY), and trailing twelve months (TTM). We’ll also look at their price performance over the last three months. This combo of metrics can really help us spot stocks that are showing strong earnings growth but might still be undervalued because of the broader market correction.
Why EPS Growth Matters in a Correction
Let’s take a step back and talk about why EPS growth is important especially right now.
EPS is basically a company’s profit divided by its number of outstanding shares. It’s a great way to gauge how profitable a company is on a per-share basis, and more importantly, how that profitability is trending over time.
When a company’s EPS is growing, it’s a sign that they’re either increasing their profits, managing their expenses better, or both. This is exactly what we want to see as investors.
Now, here’s where things get interesting. The Indian stock market has been in correction mode since September 2024. It means, a lot of stock prices have taken a hit. But just because a stock’s price is down doesn’t mean the company itself is doing poorly. In fact, some companies are posting decent EPS growth, which suggests they’re fundamentally strong, even if their stock prices haven’t caught up yet.
That’s the sweet spot we’re looking for, stocks that are growing their earnings but are currently trading at a discount because of market sentiment.
So, let’s take a closer look at the six stocks on my radar and see what their numbers are telling us.
Growth and Price Performance
Here’s the data I’ve been working with, straight from my spreadsheet. For each stock, we’ve got:
- EPSG (QoQ): EPS growth rate from the September 2024 quarter to the December 2024 quarter.
- EPSG (YoY): EPS growth rate from December 2023 to December 2024.
- EPS TTM Growth (YoY): EPS growth for the trailing twelve months compared to the EPS as of March 2024.
- 3M R%: The stock’s price return over the last three months, which gives us a sense of how the market is currently valuing it.
| SL | Name | EPSG (QoQ) | EPSG (YoY) | EPS TTM Growth (YoY) | 3M R (%) |
|---|---|---|---|---|---|
| 1 | Ambuja Cements | 364.32% | 107.49% | 7.97% | -15.55 |
| 2 | Bharti Airtel | 311.27% | 498.13% | 216.20% | -2.09 |
| 3 | Shree Cement | 153.12% | -72.44% | -48.98% | -2.15 |
| 4 | Grasim Industries | 129.86% | -41.64% | -32.23% | -4.29 |
| 5 | Macrotech Developers | 123.06% | 81.61% | 108.54% | -15.39 |
| 6 | Adani Green Energy | 87.18% | 105.63% | 43.57% | -18.93 |
Alright, let’s break this down stock by stock and see what’s going on under the hood.
1. Ambuja Cement: A Stellar Performer in a Tough Market
Ambuja Cement is leading the pack with an insane 364.32% QoQ EPS growth.
It means their earnings per share skyrocketed from the September quarter to the December quarter. Their YoY growth isn’t too shabby either at 107.49%, showing they’ve more than doubled their EPS compared to December 2023. Their TTM EPS growth is a bit more modest at 7.97%, which suggests that while the recent quarter was a blockbuster, the overall yearly trend isn’t quite as explosive.
Despite this incredible earnings growth, Ambuja Cement’s stock price has dropped by 15.55% over the last three months. That’s a pretty significant correction, and to me, it screams opportunity.
If the company can sustain this kind of earnings momentum, the market might eventually wake up and reprice this stock higher.
For now, though, it looks like a classic case of a fundamentally strong stock that’s been dragged down by the broader market correction.
2. Bharti Airtel: The EPS Growth Champion
Next up is Bharti Airtel, and wow, this one’s a showstopper. Their YoY EPS growth is a jaw-dropping 498.13%, meaning their earnings per share in December 2024 are nearly five times what they were in December 2023. Their QoQ growth is also impressive at 311.27%, and their TTM EPS growth is a whopping 216.20%.
Across the board, Bharti Airtel is showing incredible earnings momentum.
Despite this stellar performance, the stock has dipped by 2.09% over the last three months. That’s a much smaller correction compared to some of the other names on this list. It makes me think the market is already starting to recognize Bharti Airtel’s strength.
If you’re looking for a stock that’s showing both strong fundamentals and a relatively resilient price in a tough market, Bharti Airtel might be worth a closer look.
3. Shree Cement: Mixed Signals
Shree Cement is another player in the cement space, and while it’s showing solid QoQ EPS growth at 153.12%, the picture gets a bit murkier when you look at the other metrics. Their YoY EPS growth is a respectable 72.44%, but their TTM EPS growth is actually negative at -48.98%. That’s a red flag, it suggests that over the longer term, their earnings have been trending downward, even if the most recent quarter was strong.
Price-wise, Shree Cement has seen a modest decline of 2.15% over the last three months, which isn’t too bad compared to the broader market. But that negative TTM growth has me a bit cautious. I’d want to dig deeper into what’s driving that long-term decline in earnings before making any moves on this one.
4. Grasim Industries
Grasim Industries has a solid QoQ EPS growth of 129.86%, which is great to see. But their YoY EPS growth is negative at -41.64%, and their TTM EPS growth is also down by -32.23%. This tells me that while the company had a strong December quarter, they’re still struggling to match their performance from a year ago, and their longer-term earnings trend isn’t looking too hot.
The stock price reflects this uncertainty, with a 4.29% decline over the last three months. Grasim might be one to watch if they can string together a few more strong quarters, but for now, I’d probably hold off until we see more consistent earnings growth.
5. Macrotech Developers: A Hidden Gem?
Macrotech Developers (also known as Lodha Group) is one that really caught my eye. Their QoQ EPS growth is a solid 123.09%, and their YoY growth is 81.61%. Even better, their TTM EPS growth is a healthy 108.54%, showing strong earnings momentum over the longer term. This kind of consistent growth across all three timeframes is exactly what I love to see.
Despite this impressive earnings performance, Macrotech’s stock price has dropped by 15.39% over the last three months. That’s a significant correction, and to me, it looks like the market might be overlooking this stock’s potential.
If you’re a fan of the real estate sector and believe in India’s long-term growth story, Macrotech could be a great pick to research further.
6. Adani Green
Adani Green is a major player in the renewable energy space. Their QoQ EPS growth is 87.18%, and their YoY growth is 105.63%, both of which are solid numbers. Their TTM EPS growth is also positive at 43.57%, showing steady improvement over the longer term.
However, Adani Green has taken the biggest price hit on this list, with a 18.93% decline over the last three months. That’s a steep correction, and it might be due to a combination of market sentiment and the volatility that often comes with stocks in the Adani group. But with India’s push toward renewable energy and Adani Green’s strong earnings growth, this could be another one to keep on your radar if you’re comfortable with a bit of risk.
My Takeaway
First off, it’s clear that the market correction since September 2024 has created some disconnects between stock prices and fundamentals. Stocks like Ambuja Cement, Macrotech Developers, and Adani Green are showing strong EPS growth, but their prices have taken a beating.
That could spell opportunity for investors who are willing to do their homework and take a long-term view.
Bharti Airtel, on the other hand, seems to be the most resilient of the bunch, with incredible EPS growth and a relatively small price correction. It might already be on the radar of savvy investors, but it’s still worth considering if you’re looking for a stock with strong momentum.
Shree Cement and Grasim Industries are a bit more complicated. Their negative TTM EPS growth raises some concerns, so I’d want to dig deeper into what’s driving those declines before making any decisions.
How to Use This Data
If you’re thinking about jumping into any of these stocks, here are a few practical tips to keep in mind:
- Look Beyond the Numbers: EPS growth is a great starting point, but it’s not the whole story. Make sure to check out other fundamentals like debt levels, cash flow, and management quality. For example, Adani Green’s price correction might be tied to broader concerns about the Adani group, so you’d want to factor that into your decision.
- Consider the Sector: Some of these stocks, like Ambuja Cement and Shree Cement, are in the cement sector, which is closely tied to infrastructure and real estate growth in India. Others, like Adani Green, are in renewable energy, which has its own set of tailwinds and risks. Think about which sectors you’re bullish on for the long term.
- Timing Matters: With the market still in correction mode, it might be worth waiting for a bit more stability before jumping in. On the other hand, if you believe in the long-term potential of a stock like Macrotech Developers, you might decide that now’s a great time to start building a position while the price is down.
Conclusion
The Indian stock market might be going through a rough patch, but as we’ve seen with these six stocks, there are still plenty of opportunities out there for investors who are willing to dig into the data.
Ambuja Cement, Macrotech Developers, and Adani Green, in particular, look like they might be undervalued given their strong EPS growth, while Bharti Airtel seems to be holding up well despite the market correction.
As always, make sure to do your own research before making any investment decisions. The stock market can be a wild ride, but with the right approach, you can find some real gems even in the middle of a correction.
What do you think about these stocks? Have you been eyeing any of them, or do you have other names on your watchlist? Let me know in the comments, I’d love to hear your thoughts.
Happy investing.
