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Top 5 ASX growth shares to watch in April 2026
These five ASX growth shares delivered returns of up to 53.91% over one month. Get the market caps, P/E ratios and key catalysts driving each stock's performance, plus learn how to trade them through IG AU.
Important to know
This article is for informational purposes only and does not constitute investment or trading advice. Please ensure you understand the risks and consider your individual circumstances before trading.
Key takeaways
- These five ASX growth shares gained up to 53.91% in one month, led by Janus Electric Holdings’ surge
- We look at Telix Pharmaceuticals, KGL Resources, Lachlan Star, Janus Electric Holdings and Elsight
- All of these shares are available for share trading and CFD trading through IG Australia
What are ASX growth shares?
ASX growth shares are companies that reinvest profits to fuel rapid expansion rather than pay dividends (most of the time). The five stocks in this article prove the point – they've delivered returns of up to 53.91% in just one month.
These companies typically trade at high price-to-earnings (P/E) ratios because investors pay a premium for future growth. Having said that, many growth stocks trade at negative P/E ratios, too. This is because they’re often in an early growth phase and might not yet be profitable. For example, Elsight currently trades at a P/E of 106.25, while Telix Pharmaceuticals sits at -349.51 – both reflecting expectations of continued expansion.
The trade-off, though, is that growth shares can fall as fast as they rise. Miss quarterly expectations by even a small margin, and share prices can tumble rapidly.
Share type |
Focus |
Dividends |
Risk level |
Typical P/E |
Growth |
Reinvesting for growth |
Rarely |
High |
High |
Value |
Undervalued price |
Sometimes |
Medium |
Low |
Dividend |
Steady cash payouts |
Yes |
Low-medium |
Varies |
What are the advantages and disadvantages?
The stocks featured in this article exemplify the volatility inherent in growth shares. Take Janus Electric Holdings, for instance, which experienced a solid 53.91% surge in just one month.
Growth shares occupy a middle ground between high-risk penny stocks and the more stable blue-chip dividend stocks. They offer the potential for substantial gains without the extreme volatility of speculative plays.
However, the risk lies in how these companies typically reinvest profits rather than distribute dividends, meaning share traders rely mostly on share price appreciation. Failure to meet growth targets can result in share prices falling as dramatically as they rise.
Quick fact
Growth shares can be powerful tools for compounding returns
What makes ASX growth shares special right now?
Several powerful catalysts are going to drive solid ASX growth share performance in 2026.
- Sector stability: Both KGL Resources and Lachlan Star specialise in the mining sector, for instance – a strong growth driver in the Australian economy
- Innovation: Companies like Telix Pharmaceuticals rely on R&D and innovation to maintain their lead in their industries
- Economic backbone: Most of these companies operate in industries that bolster the Australian economy, such as mining, healthcare and technology
Australia's stable regulatory environment, and strong tech and mining sectors, provide a perfect launchpad for these growth stories to unfold.
Top 5 ASX growth shares to watch in April 2026
If you're looking for companies with recent momentum and the potential for capital appreciation, the ASX offers a range of options.
Here's what each company offers and why traders are paying attention.
Our selection criteria
- Performance: Up to 53.91% gains in one month
- Growth focus: Profits reinvested in R&D and expansion
- Sector diversity: Mining, healthcare, utilities and technology
Past performance doesn't guarantee future returns – all investments and trades carry risk.
Overview of the ASX growth shares in this article
You can share trade and CFD trade all of the shares mentioned in this article with IG Australia.
All figures are correct as of 2 April 2026.
1. Telix Pharmaceuticals Limited (ASX: TLX)
Sector: Health technology
Market cap: A$4.63 billion
P/E ratio: -349.51
One-month share price performance: 32.82%
Telix Pharmaceuticals is a specialist biotechnology company focused on precision medicine. It develops diagnostic and therapeutic products that use radiation to find and treat cancer.
The business model centres on creating a search-and-destroy platform where it first uses a radiopharmaceutical to image a tumour and then follows up with a targeted dose of radiation to treat it. By owning both the imaging and treatment sides of the process, it aims to capture the full value of the patient care cycle.
Over the past six months, the company has seen significant commercial success, particularly with its lead prostate cancer imaging product. It also recently progressed several key clinical trials for kidney and brain cancer, moving closer to bringing new products to market in the US and Europe.
Risk context
The primary risk lies in the regulatory environment. While the company is currently generating revenue, its future growth depends on receiving further approvals from bodies like the FDA. Clinical trials are inherently unpredictable, and any delays or failures in these studies could impact its share price.
2. KGL Resources Limited (ASX: KGL)
Sector: Non-energy minerals
Market cap: A$150.32 million
P/E ratio: 44.4
One-month share price performance: 15.22%
KGL Resources is a mineral exploration and development company that’s primarily focused on its Jervois Copper Project in the Northern Territory. Its business model is based on transitioning from a pure explorer into a high-grade copper producer. It aims to capitalise on the global shift toward green energy, as copper is a critical component for electric vehicles (EVs) and renewable energy infrastructure.
In recent months, the company has hit several major milestones. It released an updated feasibility study which confirmed the project's strong economic potential and attractive margins. It’s also secured all necessary environmental and mining approvals, meaning it’s now positioned to commence construction.
Risk context
The risk context for KGL Resources is tied to the high capital costs associated with building a new mine. As it moves into the construction phase, it’ll need to manage potential cost blowouts and secure the final stages of project financing. Additionally, as a commodity-linked share, it remains sensitive to fluctuations in global copper prices.
3. Lachlan Star Limited (ASX: LSA)
Sector: Non-energy minerals
Market cap: A$46.25 million
P/E ratio: -10.59
One-month share price performance: 15.38%
Lachlan Star is a junior mineral explorer with a portfolio focused on copper and gold. It operates primarily in some of Australia's most established mining regions, including the Lachlan Fold Belt in New South Wales and the Eastern Goldfields in Western Australia.
Its business model involves identifying high-potential geological targets and conducting drilling programmes to define mineral resources that could eventually be mined or sold to a larger operator.
The company has been particularly active lately, frequently releasing updates on its exploration programmes. It recently conducted a strategic review of its assets and has been busy with fieldwork across its key projects to identify new drilling targets.
Interest in the company often spikes following positive drilling results or when there is broader market excitement surrounding gold and copper discoveries in the regions where it holds land.
Risk context
The risk with an explorer like Lachlan Star is that ‘the drill bit’ determines the value. There’s no guarantee that exploration will lead to a commercially viable discovery. Furthermore, as an early-stage company without steady revenue, it frequently relies on raising capital from the market to fund its operations, which can dilute existing holdings.
4. Janus Electric Holdings Limited (ASX: JNS)
Sector: Utilities
Market cap: A$22.23 million
P/E ratio: 0.070
One-month share price performance: 53.91%
Janus Electric Holdings is an innovative player in the heavy vehicle sector, focusing on the conversion of diesel trucks to electric power.
Its business model is unique: rather than building new electric trucks, it retrofits existing diesel vehicles with its proprietary battery-swap technology. This enables transport companies to switch to electric fleets more affordably, while solving the problem of long charging times, as a depleted battery can be swapped for a full one in minutes.
It’s secured significant strategic funding to help scale its conversion capacity. The stock has reported a growing backlog of orders, suggesting that logistics companies are increasingly eager to adopt its technology to meet stricter emissions standards and lower fuel costs.
Risk context
Janus Electric remains an early-stage technology company. The main risk involves the speed of adoption for battery-swap technology versus traditional fast-charging systems. It also faces the challenge of scaling its manufacturing processes to meet its growing order book while maintaining quality and managing the high costs of research and development (R&D).
5. Elsight Limited (ASX: ELS)
Sector: Technology services
Market cap: A$1.2 billion
P/E ratio: 106.25
One-month share price performance: 20.19%
Elsight provides high-bandwidth, secure connectivity solutions for unmanned systems, such as drones and autonomous vehicles. Its flagship Halo technology uses a link bonding method to ensure that drones stay connected to their operators even in remote or challenging environments.
The business model involves selling the hardware units and generating recurring revenue through software licences and connectivity subscriptions.
It’s made significant inroads into the global defence market, with its technology being selected for testing by major military units in the US. This move towards government and defence contracts provides the company with a relatively stable and high-value revenue stream.
Risk context
The risk for Elsight is largely related to the evolving regulatory landscape for drones. If governments around the world are slow to approve the use of autonomous aircraft in commercial airspace, the company’s growth in the civilian market could be hampered. Additionally, as it operates in the tech and defence sectors, it must constantly innovate to stay ahead of competitors in a rapidly changing market.
How to trade ASX growth shares with IG Australia
CFDs
- Open a CFD trading account with IG AU
- Search for ASX growth shares on the IG platform
- Decide whether to go long (buy) or short (sell)
- Choose your position size
- Set stop-loss and limit orders
- Place your trade and monitor it
Share trading
- Open a share trading account with IG AU
- Search for ASX growth shares
- Choose the share you want to buy
- Determine how many shares you want to purchase
- Place your order
- Monitor your investment
FAQs about growth shares
What are the best performing ASX growth shares in 2025?
The top performing ASX growth share on our list was Janus Electric Holdings (53.91% gain).
How can I trade ASX growth shares with IG Australia?
You can trade ASX growth shares through CFD trading or share ownership via IG AU. You'll need to open either a CFD trading account or share trading account with us.
Do ASX growth shares pay dividends?
Most ASX growth shares, including the companies in this list, typically don't pay dividends or pay minimal dividends. Instead, they reinvest profits into R&D, infrastructure expansion and business growth to drive future share price appreciation.
What are the P/E ratios of top ASX growth shares?
ASX growth shares typically trade at high P/E ratios, reflecting future growth expectations. An example from our list is Elsight (106.25). However, many growth shares also trade at negative P/E ratios, indicating they’re in a new growth and not-yet-profitable phase.
What sectors are the top ASX growth shares in?
The featured ASX growth shares represent a few cornerstone sectors of the ASX – mining, utilities, technology and healthcare.
Are ASX growth shares suitable for beginners?
ASX growth shares are known for their volatility, presenting a higher risk but also the potential for significant rewards. Beginners should understand the high-risk, high-reward nature and consider diversifying across multiple growth shares and sectors.
How do I identify new ASX growth shares to watch?
Look for companies with strong revenue growth, significant reinvestment in research and development, expanding market reach, and positive analyst sentiment. Tools and market updates on IG can help you discover emerging growth opportunities.
What are the risks of investing in ASX growth shares?
Growth shares can be more volatile than dividend-paying stocks. Their prices are sensitive to earnings surprises, market sentiment and economic changes. Traders should be prepared for price swings and diversify to manage risk.
Footnotes
- TradingView, April 2026
- Investing.com, April 2026
- TradingView, April 2026
- TradingView, April 2026
- Investing.com, April 2026
- TradingView, April 2026
- TradingView, April 2026
- Investing.com, April 2026
- TradingView, April 2026
- TradingView, April 2026
- TradingView, April 2026
- TradingView, April 2026
- TradingView, April 2026
- TradingView, April 2026
- TradingView, April 2026
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