Earnings growth has remain elusive for Indian companies over the past four years. While Nifty earnings grew at 7 per cent as against an estimate of 12 per cent in the December quarter, a few companies continued to perform better than the rest. ET has compiled a list of mid- and small-cap companies that have delivered 20 per cent revenue growth and 10 per cent profit growth consistently for the last four quarters.

Some of them like PNB Housing Finance, Tinplate Company, Motilal Oswal Financial Services, Phillips Carbon Black, Capital First, Caplin Point Laboratories and JM Financials are currently trading between 25 per cent and 30 per cent below their 52-week highs. The companies growing fast in a difficult environment should continue to do so when economic pickup takes place, according to analysts.