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Summary: 30–40x returns, Rs 10K turned into over Rs 3 lakh. These three large-cap stocks did this over the last five years, becoming the biggest wealth creators in their category. Uncover their names below and find out the factors that helped them become multibaggers.
What if your Rs 10,000 investment could grow into Rs 3 lakh and that too from a large-cap stock? While the spotlight usually stays on small and mid caps when it comes to multibaggers, a handful of large caps have done exactly this over the last five years.
These are dominant industry leaders that compounded wealth at a pace even many small caps couldn’t match. Their staggering 30-40x returns make them the biggest large-cap wealth creators of the past five years.
We briefly look at what has supported their strong outperformance and if there are any risks to consider:
The big three
3) CG Power & Industrial Solutions
Backed by the Murugappa Group, CG Power has transformed into a high-growth industrial leader. Its strength lies in motors, generators and transformers catering to power and industrial systems. A robust Rs 10,600 crore order book as of FY25, up 66 per cent from a year ago, and ongoing capacity expansion signal sustained growth momentum and operational resurgence.
2) GE Vernova T&D
A century-old player in power transmission, GE Vernova T&D provides end-to-end solutions from substation automation equipment to high-voltage transformers. Half of India’s power flow is monitored through its digital systems. With a Rs 9,836 crore order book, export revenue mix of over 30 per cent and strong backing from global parent GE Vernova, the company is well positioned to benefit from domestic grid upgrades and global renewable energy projects.
1) BSE
Asia’s oldest stock exchange has turned into the biggest large-cap multibagger in the last five years. Its growth surge came from rising transaction fees as trading volumes soared. The real game changer was BSE’s rapid rise in the derivatives segment, where it has steadily gained share from NSE, driving exponential profit and stock growth.
| Stock | 5-year return (%pa) | Wealth multiplied (times) | Rs 10,000 became |
|---|---|---|---|
| BSE | 109.2 | 40 | Rs 4 lakh |
| GE Vernova T&D | 102.7 | 34 | Rs 3.4 lakh |
| CG Power | 100.6 | 32 | Rs 3.2 lakh |
| As of October 9, 2025 | |||
What’s good: Quality that compounds
What’s striking about these names is not just their market performance, but the quality that underpins it. Each of them scores exceptionally well on Value Research’s Quality Score, a proprietary metric that evaluates a company’s business efficiency and balance sheet strength.
High returns on capital and low leverage (all three are debt-free) consistently mark these names apart. In short, their fundamentals justify much of their rise.
| Stock | 5-yr avg ROCE (%) | 5-yr avg ROE (%) | VR Quality Score |
|---|---|---|---|
| BSE | 18 | 13.08 | 9/10 |
| GE Vernova | 19.65 | 11.38 | 7/10 |
| CG Power | 73.21 | 53.78 | 9/10 |
What’s not: Pricey valuations
But even great companies can be and often are expensive bets. Each of these stocks are now trading at steep multiples, two of which are commanding high premiums to their five-year median P/E, reflecting high expectations already baked into their prices. In other words, the market has priced in much of their expected growth.
Their low Valuation Scores also indicate limited attractiveness at current levels. This is a reminder that while quality is crucial, valuation still decides the returns you actually earn and buying even a good business at the wrong prices could lead to a poor investment.
| Stock | Current P/E | 5-yr median P/E | VR Valuation Score |
|---|---|---|---|
| BSE | 60 | 39 | 3/10 |
| GE Vernova | 101 | 120 | 1/10 |
| CG Power | 118 | 61 | 3/10 |
Your takeaway
Multibaggers don’t always wear the small-cap tag. When quality, scale and long-term consistency align, even large caps can deliver extraordinary wealth creation. But as always, what’s been a stellar performer in the rear-view mirror may not be a bargain ahead. That’s why valuation must be assessed to distinguish between great businesses and great buys.
Want to find the next 30x story before it unfolds?
At Value Research Stock Advisor, we focus exactly on that: high-quality businesses with the potential to compound wealth at sensible valuations. Our recommendations are guided by a comprehensive Quality, Valuation, Growth and Momentum framework, applied proactively to hunt stocks that could be tomorrow’s 30x compounders.
Join Stock Advisor and start investing not in the past’s multibaggers, but in tomorrow’s.
Also read: These 3 mid caps have multiplied profits up to 10x in 5 yrs
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