6 Small-Cap Stocks with Revenue Exceeding Market Cap: Add to Your Watchlist
Discover six small-cap companies in India where the revenue is more than their market capitalization, indicating strong business performance and potential undervaluation.
SmallcapMarket CapRevenueIndian StocksInvestment OpportunitiesReal Estate NewsJun 22, 2025
TVS Holdings Limited
TVS Holdings Limited, with a market capitalization of Rs. 22,255.29 crore, saw its shares close at Rs. 11,000 per equity share, marking a 4.45% increase from the previous day’s close price of Rs. 10,531.10. The company reported a revenue of Rs. 44,993 crore in FY25, which is more than 2.02 times its market capitalization. This significant revenue highlights the company's strong business performance relative to its valuation.
TVS Holdings Limited was established in 1962 in Chennai and is one of India’s largest automotive components manufacturers. The company specializes in producing aluminium and magnesium castings for the automotive industry and also acts as a holding company for TVS Motor Company.
Gokul Agro Resources Limited
Gokul Agro Resources Limited, with a market capitalization of Rs. 4,245.56 crore, saw its shares close at Rs. 287.75 per equity share, a 1.42% decrease from the previous day’s close price of Rs. 291.90. The company reported a revenue of Rs. 19,551 crore in FY25, which is more than 4.61 times its market capitalization. This significant revenue underscores the company's strong business performance.
Gokul Agro Resources Limited was established in 2014 and is a leading Indian FMCG company. The company is engaged in the production, distribution, and export of edible and non-edible oils, specialty fats, and feed meals, serving both domestic and international markets.
Team Lease Services Limited
Team Lease Services Limited, with a market capitalization of Rs. 3,277.57 crore, saw its shares close at Rs. 1,954.55 per equity share, a 1.65% decrease from the previous day’s close price of Rs. 1,987.30. The company reported a revenue of Rs. 11,156 crore in FY25, which is more than 3.40 times its market capitalization. This significant revenue highlights the company's strong business performance.
TeamLease Services Limited was established in 2000 and is one of India’s leading human resource companies. The company provides staffing, recruitment, payroll, training, and regulatory compliance services across various industries, aiming to “Put India to Work” with a pan-India presence. It operates through multiple offices and serves over 3,500 clients with a workforce of lakhs of associates.
HMA Agro Industries Limited
HMA Agro Industries Limited, with a market capitalization of Rs. 1,640.02 crore, saw its shares close at Rs. 32.75 per equity share, a 0.92% increase from the previous day’s close price of Rs. 32.45. The company reported a revenue of Rs. 5,133 crore in FY25, which is more than 3.13 times its market capitalization. This significant revenue highlights the company's strong business performance.
HMA Agro Industries Limited was established in 2008 and is one of India’s largest exporters of frozen buffalo meat and other agro products, including frozen fruits, vegetables, and cereals. The company supplies its branded products to over 40 countries worldwide.
J Kumar Infraprojects Limited
J Kumar Infraprojects Limited, with a market capitalization of Rs. 5,373.76 crore, saw its shares close at Rs. 710.20 per equity share, a 1.11% increase from the previous day’s close price of Rs. 702.40. The company reported a revenue of Rs. 5,693 crore in FY25, which is more than 1.06 times its market capitalization. This significant revenue highlights the company's strong business performance.
J Kumar Infraprojects Limited was established in 1980 and is a leading Indian construction company. The company specializes in complex infrastructure projects like metro rail systems, roads, flyovers, bridges, tunnels, and irrigation works for government and urban development bodies.
BCL Industries Limited
BCL Industries Limited, with a market capitalization of Rs. 1,220.80 crore, saw its shares close at Rs. 41.36 per equity share, a 2.10% increase from the previous day’s close price of Rs. 40.51. The company reported a revenue of Rs. 2,815 crore in FY25, which is more than 2.31 times its market capitalization. This significant revenue highlights the company's strong business performance.
BCL Industries Limited was established in 1976 and is one of India’s largest agro-processing companies. The company has diversified businesses in edible oils, rice milling, grain-based distillery, and real estate development, serving domestic and South Asian markets with strong vertical integration and innovation.
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Frequently Asked Questions
What does it mean when a company's revenue is more than its market cap?
When a company's revenue exceeds its market capitalization, it suggests that the company is generating more money in sales than its total market value. This can indicate strong business performance and potential undervaluation, making it an attractive investment opportunity.
Which companies are mentioned in the article?
The article mentions six small-cap companies: TVS Holdings Limited, Gokul Agro Resources Limited, Team Lease Services Limited, HMA Agro Industries Limited, J Kumar Infraprojects Limited, and BCL Industries Limited.
What is the market cap of TVS Holdings Limited?
TVS Holdings Limited has a market capitalization of Rs. 22,255.29 crore.
What is the primary focus of HMA Agro Industries Limited?
HMA Agro Industries Limited is one of India’s largest exporters of frozen buffalo meat and other agro products, including frozen fruits, vegetables, and cereals. The company supplies its branded products to over 40 countries worldwide.
How does J Kumar Infraprojects Limited contribute to the infrastructure sector?
J Kumar Infraprojects Limited specializes in complex infrastructure projects like metro rail systems, roads, flyovers, bridges, tunnels, and irrigation works for government and urban development bodies.
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