5 Unique & Underrated Business Model Stocks in India You Shouldn’t Ignore

Introduction

Let’s be honest: when you think of the stock market, your mind probably jumps straight to the usual suspects — IT giants, banking behemoths, or FMCG stalwarts.

But here’s the thing…

Some of the most exciting opportunities hide in plain sight. These aren’t the flashy headline-makers — they’re quiet compounders with unique business models and massive growth potential.

So, if you’re tired of chasing the same overhyped names and want to discover some underrated business model stocks in India, you’re in the right place.

Let’s dive into five such gems that are doing things differently — and doing them exceptionally well.

1. Info Edge (India) Ltd. – The Startup Stock You Already Own (But Don’t Know It)

Ticker: NAUKRI
Market Cap: ₹65,000+ Cr
Sector: Online Platforms + Startup Investments

Ever applied for a job through Naukri.com? Or checked out properties on 99acres.com? That’s Info Edge for you — a digital classifieds pioneer.

But here’s the twist: Info Edge is also a venture capital powerhouse.

It owns early and sizable stakes in unicorns like Zomato, PolicyBazaar, and DotPe. This makes it India’s only listed VC-style stock. You get the steady cash flow from platforms like Naukri, AND exposure to some of the most promising Indian startups — all in one package.

Why it’s an underrated business model stock in India:

• It flies under the radar as just “a job portal.”
• Its startup investments alone are worth thousands of crores, but few retail investors realize it.
• Think of it as a mutual fund of Indian unicorns, but better.

Bonus: It’s debt-free, profitable, and holds strong cash reserves.

2. DreamFolks Services Ltd. – Making Airport Lounges Cool & Convenient

Ticker: DREAMFOLKS
Market Cap: ₹3,300 Cr
Sector: Airport Hospitality Aggregator

DreamFolks might be the coolest travel-tech company you’ve never heard of.

It connects your bank or credit card provider (like HDFC or Axis) with airport lounges and services — think spa access, food courts, meet-and-greets — using its own tech stack. No physical assets, no heavy capex, just pure platform magic.

With a whopping 95% market share in India’s lounge aggregation, DreamFolks is practically a monopoly — and yet, most investors miss it.

Why it’s an underrated business model stock in India:

• Asset-light aggregator with high margins
• Dominates a niche that’s only getting bigger as more Indians travel
• Quietly powers experiences for millions — and no one knows who they are!

This company is a fintech + travel hybrid, and that’s what makes it so interesting.

3. Unicommerce eSolutions Ltd. – Powering the Backend of Indian E-Commerce

Tricker: UNIECOM
Sector: SaaS for E-Commerce Fulfillment

While everyone’s obsessed with flashy D2C brands like Boat or Mamaearth, Unicommerce is working behind the scenes, making sure those brands actually deliver.

This SaaS company helps online sellers sync inventory, manage orders, and automate returns across platforms like Amazon, Flipkart, and Shopify.

Think of them as the plumbing of India’s booming e-commerce world — not sexy, but essential.

Why it’s an underrated business model stock in India:

• Low visibility = low hype = high opportunity
• Solves a very real problem in the logistics and order management chain
• Serves over 350 brands and processes 120M+ orders annually

They’re profitable, growing fast, and poised to shine when their IPO lands. You heard it here first.

4. Tanla Platforms Ltd. – The Invisible Giant of Digital India

Ticker: TANLA
Market Cap: ₹10,000+ Cr
Sector: Cloud Communications (CPaaS)

Ever received an OTP from your bank? A delivery update from your app? There’s a high chance Tanla Platforms powered that message.

Tanla is the quiet architect of India’s digital communication layer — handling billions of messages every month for big names like Airtel, SBI, and Jio.

They even built Trubloq, a blockchain-based anti-spam platform, and Wisely, a secure enterprise communication platform.

Why it’s an underrated business model stock in India:

• Operates behind the scenes — most people have no idea it exists
• Dominates a niche with massive entry barriers
• Positioned at the heart of India’s digital surge

It’s rare to find a company that’s both tech-heavy and regulation-proof, but Tanla fits that bill.

5. Garware Technical Fibres Ltd. – Fishing Nets, But Make Them High-Tech

Ticker: GARFIBRES
Market Cap: ₹6,000 Cr
Sector: Technical Textiles & Industrial Fibres

Let’s be real — “fishing nets” doesn’t sound like a tech company. But Garware Technical Fibres is anything but ordinary.

They design high-performance netting systems used in aquaculture cages, defense, sports, and geo-infrastructure projects. Over 65% of their revenue comes from exports, especially in countries like Norway and Canada.

Why it’s an underrated business model stock in India:

• Highly specialized products = very few competitors
• Operates in a global niche with pricing power
• Strong R&D, 30+ patents, and a reputation for innovation

It’s a true “Make in India, Sell to the World” story.

Quick Comparison Snapshot

Stock	What They Do	Why It’s Unique	Market Cap
Info Edge	Job portal + Startup investor	Dual engine model	₹65,000 Cr
DreamFolks	Airport lounge aggregator	95% market share, asset-light	₹3,300 Cr
Unicommerce	E-comm backend SaaS	Essential but invisible	Pre-IPO
Tanla	Cloud messaging infra	Powers digital India’s OTPs	₹10,000 Cr
Garware	High-tech netting export	Patented niche textiles	₹6,000 Cr

Why These Stocks Matter Right Now

All five companies above have one thing in common — they’re doing something DIFFERENT. They’re not just riding trends. They’re creating moats through:

• Platform power
• Tech-led operations
• High-entry-barrier niches
• Smart monetization
• And yes, being vastly underappreciated

In a market where everyone’s chasing the same overvalued stocks, discovering underrated business model stocks in India gives you a powerful edge.

You’re not just betting on numbers — you’re betting on innovation, adaptability, and future relevance.

Final Thoughts: The Real Multibaggers Are Often Misunderstood

The next time someone tells you there’s no opportunity left in Indian equities, show them this list.

Because the truth is — you don’t need to find the next Infosys. You just need to find companies with unique business models, strong execution, and limited competition.

And as we’ve seen, there are plenty of underrated business model stocks in India doing just that.

You just have to know where to look.

More Articles

Underrated Stocks: How to Find Multibaggers from Your Daily Life

Best Screener Queries for Stock Selection: Find Hidden Gems Before Others Do

Predict Stock Reaction Before Earnings Using Market Signals