Sub-0.15 PEG: ACME Solar, Ventive, Waaree Energies

Five NSE names show up on a sub-0.15 PEG screen this week: [ACME Solar](/stock/ACMESOLAR) (NSE: ACMESOLAR), [Ventive Hospital](/stock/VENTIVE) (NSE: VENTIVE), [Piramal Finance](/stock/PIRAMALFIN) (NSE: PIRAMALFIN), [Tata Steel](/stock/TATASTEEL) (NSE: TATASTEEL), and [Waaree Energies](/stock/WAAREEENER) (NSE: WAAREEENER). The ratios run from 0.06 at Piramal Finance to 0.14 at Tata Steel. On paper, that is a value investor's wish list — but the catch is the growth denominator. Profit growth in the screen ranges from 11.4% at Tata Steel to 50,575% at Piramal Finance. A PEG ratio built on a 50,000% growth rate tells you almost nothing about the next four quarters. The screen is doing exactly what screens do: dividing a trailing P/E by a trailing profit growth number. That math works when growth is steady and repeatable. It breaks when a company swings from a low base to a modest profit. Sales growth is uneven across this group, which is why a PEG screen alone misleads. Piramal Finance's 50,575% net profit growth is a base-effect artifact, not an operating trend. Ventive Hospital's low PEG is similarly distorted by a small post-listing profit base. Tata Steel's 11.4% growth is the only number in this screen that looks clean enough for a PEG conversation. Solar pair: same screening ratio, different balance sheets [ACME Solar](/stock/ACMESOLAR) and [Waaree Energies](/stock/WAAREEENER) both make the sub-0.15 PEG cut, but they are not the same business. ACME Solar is an independent power producer with contracted cash flows from solar projects. Waaree Energies is a module maker moving into cell manufacturing. ACME Solar's earnings are tied to project commissioning and locked PPAs. Waaree's earnings move with module prices and export demand. Module prices have fallen from roughly $0.18 per watt in early 2023 to near $0.10 per watt by late 2024. That pressure has hit margins across the solar supply chain. A low PEG in this sector can mean the market expects earnings to shr...