4 Stocks FIIs Bought During the Past 4 Quarters

#2 Vishal Mega Mart Limited

Vishal Mega Mart Ltd, a hypermarket chain, is the second stock showing strong institutional inflows through the last four quarters.

In Q4 FY25, FII holding in this stock stood at around 7.03%, which increased to 12.85% in Q1 FY26, 15.4% in Q2 FY26, then marginally increased to 15.52% in Q3 FY26 and finally rose to 22% in Q4 FY26.

This surge in the FII holding is perhaps driven by the expansion of the hypermarket chain. Vishal Mega Mart is concentrating on the South Indian states at present, and during Q3 FY26, 12 stores were opened across different states of South India.

Another factor which is driving the sales as well as attracting the FIIs might be the company's shift towards small-format stores for better reach, especially in the remote areas.

Furthermore, the quick commerce segment of the company has been expanding robustly and at the end of December 2026, the total number of quick commerce stores stood at 723 across pan India.

The registered users of Vishal Mega Mart grew 55% to 12 m during the period as well, which was perhaps another trigger for FIIs.

Coming to the financials, net sales during Q3 FY25 stood at Rs 31,359 m, which surged to Rs 36,704 m in Q3 FY26.

The net profit also increased from Rs 2,627 m to Rs 3,129 m during the period.

Its 3-year compounded sales growth is 34.2% and compounded profit growth is 46.1%.

Average ROE and ROCE of the past three years stood at 8.2% and 14.1%, respectively.

The Q4 FY26 and full year FY26 results are yet to be announced.

For more details, see the VISHAL MEGA MART company fact sheet and quarterly results.

#3 National Aluminium Company Limited

The next stock FIIs are buying across FY26 is National Aluminium Company Ltd (NALCO).

This Navaratna company is one of the largest integrated bauxite and alumina producing companies across the globe.

However, NALCO stands apart because of its cost benefits. The company also produces bauxite and alumina at low cost.

FIIs' holding stood at 15.06% in Q1 FY26, from which they raised the stake steadily in all the quarters to reach 22.27% in Q4 FY26.

The reasons behind this strong surge in FII holdings could be increasing aluminium demand across the country. The same is expected to grow between 6.3% and 7.2% till 2030. To cater to this rising demand, the company is also expanding its capacities robustly.

At the end of FY26, the bauxite production capacity stood at around 7.5 million tonnes per annum (MTPA). To add to this capacity, Pottangi Bauxite Mines will be opened by the end of this month, raising the capacity by 3.5 MTPA.

The current alumina refinery capacity is around 2.1 MTPA, which is also expanded with another facility that can add up to 1 MTPA and is expected to start from June 2026.

The company is also expanding its aluminium smelting capacity, which is currently at 0.46 MTPA. After expansion, 0.5 MTPA is expected to be added; however, commissioning of this will take some time, and is expected around August 2030.

The company has also ventured into dedicated facilities for storage of alumina, caustic soda, ship loading and others.

Coming to the financials, net sales for Q4 FY26 stood at Rs 50,128 m, marginally down from Rs 52,678 m in Q4 FY25.

Even PAT declined from Rs 20,784 m to Rs 17,177 m during the period.

Having said that, the 3-year compounded sales and profit growth have been positive at 5.7% and 21.3%, respectively.

The average ROE of the past three years stood at 18.1% while the average ROCE for the period stood at 24.4%.

For more details, see the NALCO company fact sheet and quarterly results.

#4 UPL Limited

UPL is one of the leading agrochemical producers across the country. It manufactures a wide range of agrochemicals, industrial chemicals, chemical intermediates, specialty chemicals, and other related products.

UPL is on this list of stocks showing strong institutional inflows because FIIs raised their stake from 34.22% in Q4 FY25 to 34.9% in Q1 FY26, 37.01% in Q2 FY26, 38.84% in Q3 FY26, and finally to 41.78% in Q4 FY26.

The continuous faith of FIIs in this stock is perhaps due to UPL's position in the global crop protection market. The company is a top player in the market.

UPL has a huge network across 140 countries, which is another plus for the company in boosting its sales across both existing and new products. It has more than 3,000 patents and registration for over 15,000 products.

Within the crop protection products range, herbicides offered strong revenue from Latin America, North America, and Europe. Clethodim, glufosinate, and flufenacet are some of the herbicides that mainly drove the sales in this segment.

Fungicide sales also witnessed a strong growth, mainly driven by Mancozeb.

Coming to the financials, net sales dropped from Rs 155,730 m in Q3 FY25 to Rs 122,690 m in Q3 FY26.

PAT declined by almost half from Rs 11,060 m to Rs 5,710 m during the period.

The average ROE and ROCE of the past three years stood at 12.8% and 20.2%, respectively.

The Q4 FY26 and full year FY26 results are yet to be announced.

For more details, see the UPL company fact sheet and quarterly results.

Conclusion

FIIs buying these stocks, while they have been net seller in the Indian equity market for quite some time, probably indicates strong fundamentals and future potential of these businesses.

Having said that, you need to scrutinize the company's financials, corporate actions, annual reports, and do your due diligence before making any investment decision.

Happy investing.

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