3 Indian Penny Stocks With Positive Earnings And Low P E Ratios

Rising US Treasury yields are keeping borrowing costs in focus, which can pressure highly leveraged companies and fragile penny stocks. That is exactly why the Financially Fit Penny Stocks screener matters right now. It filters for lower priced stocks with stronger balance sheets so you are not just chasing low share prices. This article highlights three screened stocks that aim to balance growth potential with financial discipline.

The three stocks below are a sample pulled from a much wider universe, as the full Financially Fit Penny Stocks screen surfaced 117 more companies with equally compelling financial stories that are not covered here. If you want to identify and analyze your own shortlist of higher conviction ideas straight away, head into the Financially Fit Penny Stocks screener.

Spacenet Enterprises India (NSEI:SPCENET)

Spacenet Enterprises India runs two main operations. It trades physical commodities and it provides IT services, including software tools and TradFi platforms that help commodity traders handle workflows, risk and settlement. The business currently earns about ₹1,075 million from services and ₹827 million from trading of goods, and the stock carries a market cap of roughly ₹1.87 billion.

Spacenet Enterprises India brings together a traditional commodity trading business and a suite of TradFi and commodities workflow tools that directly fit a screener focused on financially oriented, lower risk exposure. Recent earnings have increased, with margins and net income moving in the same direction, and the P/E of 7.5x sits below both the wider Indian market and sector averages. At the same time, funding leans heavily on external sources and the share price has been volatile, which can quickly test conviction if conditions turn. For investors willing to accept that funding and price risk, the mix of recent earnings characteristics and a financial technology angle in a penny stock wrapper may be worth further research.

Spacenet Enterprises India combines commodity trading with TradFi tooling. The real story could be how its earnings profile and 7.5x P/E fit into a tighter risk framework when you read the analysis report for Spacenet Enterprises India

Swasti Vinayaka Art and Heritage (BSE:512257)

Swasti Vinayaka Art and Heritage blends a niche art and jewelry business with real estate activities, with the Financially Fit Penny Stocks theme most closely tied to its carvings, paintings and jewelry made from precious and semi-precious stones. These are tangible, retail products that generate actual sales, rather than purely speculative assets. The stock is firmly in penny territory with a market cap of about ₹302.4 million, which puts it in the smaller company bracket investors often screen for in this theme.

Swasti Vinayaka Art and Heritage may appeal to investors who want a penny stock linked to physical products and positive profitability. Earnings grew 35.2% over the past year and 16.1% per year over five years, with net margins of 19.1%, while the stock trades at a discount to one estimate of fair value and at a P/E of 6.1x relative to its luxury peers. The key considerations are its scale and funding profile. Revenue of ₹258 million keeps it in the small company bucket, and 100% reliance on external borrowing can increase financial risk if operating conditions tighten. For investors comfortable with that trade-off, the combination of growth, profitability and low valuation on a tiny market cap may warrant further research.

Swasti Vinayaka Art and Heritage pairs its fast growing earnings with a low 6.1x P/E and a tiny ₹302.4 million market cap, which could be masking an important twist in its story. The 2 key rewards and 1 important warning sign might surprise you

Shangar Décor (BSE:540259)

Shangar Décor is a small Indian company that focuses on decoration and event management services, which fits neatly with a Financially Fit Penny Stocks theme built around real, recurring service work rather than blue-sky ideas. It generates all its ₹261 million in revenue from event management in India, covering pre-wedding and theme weddings, corporate and religious events, and property and lighting decor, supported by catering services. The stock is firmly in penny territory with a market cap of about ₹122.4 million.

Shangar Décor gives you a tiny events and decor business where the story is shifting. Earnings jumped very strongly over the past year, Q1 2026 revenue more than doubled year on year to about ₹52.8 million with net income of ₹6.9 million, and net margins have moved up to 7.8%. At the same time, the company is flagged as lacking meaningful revenue overall, relies entirely on higher risk external borrowing and has seen several board and leadership changes, which can unsettle a small business. For investors willing to dig into the quality of these earnings and what the recent governance changes mean, Shangar Décor may be a more complex penny stock than its size suggests.

Shangar Décor’s rising revenue and margin change could be masking a much bigger story for this small events stock. Get the full picture in the 2 key rewards and 2 important warning signs

Seeking Alternatives Before Momentum Flies

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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