Five Small-Cap Stocks Report Over 100% Net Profit Growth in Q3 FY26

While most small-cap stocks face challenges in the current volatile market environment, five companies have bucked the trend by delivering exceptional Q3 FY26 results. These companies have reported net profit growth exceeding 100% year-on-year, indicating strong business momentum and robust execution capabilities across diverse sectors.

Renewable Energy Sector Leads Performance

Ravindra Energy Posts Stellar 650% Profit Growth

Ravindra Energy, which specializes in clean and affordable solar power solutions, delivered the most impressive performance among the group. The company has received accreditation from the Ministry of New and Renewable Energy (MNRE) and gained recognition for installing solar water pumps, supporting India's renewable energy initiatives.

Metric:	Q3 FY26	Q3 FY25	Growth (%)
Revenue from Operations:	₹127.00 cr	₹53.00 cr	+140%
Net Profit:	₹15.00 cr	₹2.00 cr	+650%

Emmvee Photovoltaic Power Delivers Strong Results

Emmvee Photovoltaic Power, headquartered in Bengaluru since 2007, manufactures and supplies solar cells, photovoltaic modules, and complete PV systems across India and Europe. The company also manages turnkey solar projects and operates solar power plants, serving independent power producers, commercial and industrial clients, and EPC companies.

Metric:	Q3 FY26	Q3 FY25	Growth (%)
Revenue from Operations:	₹1,152.00 cr	₹528.00 cr	+118%
Net Profit:	₹264.00 cr	₹99.00 cr	+167%

Waaree Renewable Technologies Shows Consistent Growth

Waaree Renewable Technologies , a green-energy company focused on creating and operating solar energy projects in India, reported robust financial performance. The company's portfolio includes EPC services, rooftop and ground-mounted solar installations, floating solar projects, and operation & maintenance solutions, serving residential, industrial, and commercial sectors.

Metric:	Q3 FY26	Q3 FY25	Growth (%)
Revenue from Operations:	₹851.00 cr	₹360.00 cr	+136%
Net Profit:	₹120.00 cr	₹53.00 cr	+126%

Technology and Retail Sectors Show Strong Performance

Netweb Technologies India Capitalizes on Computing Demand

Netweb Technologies India, operating since 1999 and headquartered in New Delhi, specializes in high-end computing solutions. The company designs and builds custom servers, workstations, storage, and virtualization solutions, with expertise spanning HPC, data storage, cloud infrastructure, AI, and enterprise IT systems.

Metric:	Q3 FY26	Q3 FY25	Growth (%)
Revenue from Operations:	₹805.00 cr	₹334.00 cr	+141%
Net Profit:	₹73.00 cr	₹30.00 cr	+143%

Thangamayil Jewellery Benefits from Strong Gold Demand

Thangamayil Jewellery, which started as a small shop in Madurai, has expanded to over 65 stores and an online platform. The jewellery chain retails gold, silver, diamond, and platinum ornaments, with gold sales driving the majority of its business across South India.

Metric:	Q3 FY26	Q3 FY25	Growth (%)
Revenue from Operations:	₹2,406.00 cr	₹1,132.00 cr	+113%
Net Profit:	₹105.00 cr	₹48.00 cr	+119%

Market Performance Highlights

These five companies demonstrate that despite broader market volatility, businesses with strong fundamentals and execution capabilities can deliver exceptional results. The renewable energy sector particularly stands out, with three of the five companies operating in solar power and related technologies, reflecting the growing momentum in India's clean energy transition.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.27%	-7.83%	-5.49%	-19.34%	+4.70%	+4.70%

Waaree Renewable Technologies Limited has finalized a significant Engineering, Procurement and Construction (EPC) agreement for developing a solar power facility in Uttar Pradesh. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Project Specifications and Contract Details

The EPC contract involves the development of a ground mount solar photovoltaic plant with a capacity of 10 MWac/14 MWp on a turnkey basis. The project has been awarded by a domestic entity described as a manufacturer and supplier of industrial gases.

Parameter:	Details
Project Capacity:	10 MWac/14 MWp
Contract Value:	₹37.96 crores (excluding taxes)
Project Type:	Ground Mount Solar PV Plant
Location:	Uttar Pradesh
Execution Basis:	Turnkey

Timeline and Commercial Terms

The commercial order is scheduled for completion during the financial year 2026-27, as per the terms specified in the contract. The company received intimation of this order on January 19, 2026, at 05:08 p.m. (IST).

Commercial Aspect:	Details
Order Nature:	Commercial Order
Client Type:	Domestic Entity
Completion Timeline:	Financial Year 2026-27
Order Intimation Date:	January 19, 2026

Regulatory Compliance and Transparency

The company has confirmed that this contract does not involve any related party transactions and that promoters or group companies have no interest in the entity that awarded the order. The disclosure was made in compliance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Company Background

Waaree Renewable Technologies Limited operates as a subsidiary of Waaree Energies Limited and is headquartered in Mumbai, Maharashtra. The company specializes in renewable energy solutions and EPC services for solar power projects across India.