Revenue growth is a key financial metric that tells how well a company is doing. In the March 2020 and June 2020 quarters, most companies have suffered a hit on their revenues and profits due to the lockdowns to contain the spread of the pandemic. In the aftermath of the pandemic, it's likely that the revenue and profit growth will remain subdued in the near future as well.
As revenue and profit growth remain muted for the next few quarters, it may be a good idea to keep an eye on the operating margins. The companies below aren't revenue-growth stars. Their revenue growth has fluctuated over the last five years. However, what's remarkable about them is that they have kept their margins intact during this time. To keep your margins intact amid fluctuating revenues, you must be able to pass on the costs to your customers and these companies have successfully done that. It's likely that these companies have some inherent moat that enables them to do so.
Note that for variability in margins, we have taken the coefficient of variation to be less than 10 per cent. This is calculated by dividing the standard deviation in margins of the last five years by their average. Also, to remove loss-making companies, we have ensured that the book value has increased more or less consistently over the last five years.