Top 5 ASX growth shares to watch in March 2026

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 119.40% in just six months, and while three shares on our list pay dividends, these are small enough that the companies can reinvest the majority of their profits to drive growth.

These companies typically trade at high price-to-earnings (P/E) ratios because investors pay a premium for future growth. For example, Resolute Mining currently trades at a P/E of 164.120, while Sandfire Resources sits at 43.65 – 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.

What are the advantages and disadvantages?

The stocks featured in this article exemplify the volatility inherent in growth shares. Take Resolute Mining, for instance, which experienced a solid 119.40% surge in just six months. In contrast, other companies have seen substantial volatility in the last quarter, highlighting the diverse range of outcomes within this category.

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.

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 Sandfire Resources and Resolute Mining specialise in the mining sector, for instance – a strong growth driver in the Australian economy
• Innovation: Companies like Reece Limited 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 and construction

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 March 2026

These five shares delivered solid returns between October 2025 and February 2026. Here's what each company offers and why traders are paying attention.

Our selection criteria

• Performance: Up to 119.40% gains in six months
• Growth focus: Profits reinvested in R&D and expansion
• Sector diversity: Construction, mining and retail food

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 the shares in this article with IG Australia.

All figures are correct as of 25 February 2026.

1. Sandfire Resources Limited (ASX: SFR)

Industry: Other metals/minerals

Market cap: A$9.35 billion¹

P/E ratio: 43.65²

Sandfire Resources is a mining company focused primarily on copper production, with additional exposure to zinc and other base metals. Its key assets include operating mines in Australia and overseas, along with development projects aimed at extending mine life and lifting output.

Copper is a critical material for electrification, renewable energy infrastructure and electric vehicles (EVs), which places Sandfire in an important part of the global energy transition story.

Over the past six months, Sandfire’s share price has moved in line with shifts in copper prices and broader sentiment towards the resources sector. Strength in commodity markets has supported interest at times, while concerns about global growth and demand have created periods of weakness. Operational updates and progress at its international assets have also influenced share trader confidence.

Copper is widely viewed as a long-term growth commodity. Rising demand from clean energy and infrastructure projects could underpin higher prices over time. If Sandfire can deliver stable production and manage costs effectively, it may benefit from that structural demand.

Highlights:

• For share traders seeking growth linked to the energy transition, it represents a direct way to gain that exposure on the ASX
• Over the past six months, its share price has increased by 65.83%³

2. Woolworths Group (ASX: WOW)

Industry: Food retail

Market cap: A$38.37 billion⁴

P/E ratio: 40.24⁵

Woolworths Group is one of Australia’s largest supermarket and retail businesses. It operates the Woolworths supermarket chain, along with related food, drink and everyday essentials businesses across Australia and New Zealand.

The company plays a central role in household spending, supplying groceries and consumer staples to millions of customers each week.

During the past six months, Woolworths’ share price has reflected a mix of defensive qualities and competitive pressures in the supermarket sector. While food retail tends to be more stable than some other parts of the economy, rising costs, margin pressures and intense competition have shaped market sentiment.

Share traders may see the company as an attractive growth share because of its scale, brand recognition and strong market position. Even in softer economic conditions, demand for groceries remains steady. Over time, population growth, store network improvements and supply chain efficiencies can support earnings expansion.

Highlights:

• Woolworths combines defensive characteristics with steady long-term growth potential. For share traders seeking exposure to a market leader in essential retail, it remains a core name to watch on the ASX
• Its share price has increased by 24.97% over the past six months⁶

3. GenusPlus Group Limited (ASX: GNP)

Industry: Engineering and construction

Market cap: A$1.35 billion⁷

P/E ratio: 29.29⁸

GenusPlus Group is a specialist power and communications infrastructure company. It provides services including the design, construction and maintenance of transmission lines, substations and renewable energy connections. As Australia upgrades its electricity grid to handle more renewable power, companies like GenusPlus are positioned to benefit.

In the past six months, the company’s share price has responded to contract announcements, project wins and broader sentiment around infrastructure spending. Strong order books and visibility over future work have supported confidence at times, although broader market volatility has also played a role.

Share traders may be interested in it because it operates in a sector with clear long-term tailwinds. The transition to renewable energy requires significant grid investment, and government backed infrastructure programmes can provide a pipeline of work.

Highlights:

• If the company continues to secure major contracts and deliver projects effectively, earnings growth could follow
• Over the past six months, its share price has increased by 39.89%⁹

4. Reece Limited (ASX: REH)

Industry: Wholesale distributors

Market cap: A$10.24 billion¹⁰

P/E ratio: 37.77¹¹

Reece is a leading supplier of plumbing, bathroom and heating products in Australia and the US. It distributes products to trade professionals and, increasingly, to retail customers, benefiting from renovation activity, housing construction and maintenance demand.

The company has built a large branch network and a strong reputation within the plumbing industry.

Over the past six months, Reece’s share price has been influenced by housing market conditions and construction activity in both Australia and the US. Slower building approvals and higher interest rates have weighed on sentiment at times, though the essential nature of repair and maintenance work has provided some resilience.

Share traders might view Reece as a growth opportunity because of its expansion strategy, particularly in the US market.

Highlights:

• The company’s scale and distribution network may help it to maintain competitive advantages
• Its share price has climbed by 45.96% over the past six months¹²

5. Resolute Mining Limited (ASX: RSG)

Industry: Precious metals

Market cap: A$3.09 billion¹³

P/E ratio: 164.120¹⁴

Resolute Mining is a gold producer with operations in Africa, including mines in Mali and Senegal. The company focuses on gold exploration, development and production, aiming to extend mine life and maintain steady output.

Gold is often seen as a store of value and a hedge against economic uncertainty.

In the past six months, the company’s share price has largely tracked movements in the gold price, along with company specific updates on production and costs. When gold prices strengthen, interest in producers, such as Resolute, tends to rise. Operational performance and guidance updates have also shaped market reactions.

Share traders might be drawn to Resolute because gold can provide portfolio diversification. And, if the company can manage its assets efficiently and control costs, it may benefit from supportive commodity prices.

Highlights:

• For share traders seeking growth with the added potential defensive qualities of gold, Resolute is a stock worth monitoring
• Over the past six months, its share price has grown by 119.40%¹⁵

How to trade ASX growth shares with IG Australia

CFDs

1. Open a CFD trading account with IG AU
2. Search for ASX growth shares on the IG platform
3. Decide whether to go long (buy) or short (sell)
4. Choose your position size
5. Set stop-loss and limit orders
6. Place your trade and monitor it

Share trading

1. Open a share trading account with IG AU
2. Search for ASX growth shares
3. Choose the share you want to buy
4. Determine how many shares you want to purchase
5. Place your order
6. Monitor your investment 

FAQs about growth shares 

Footnotes

1. TradingView, February 2026
2. TradingView, February 2026
3. TradingView, February 2026
4. TradingView, February 2026
5. TradingView, February 2026
6. TradingView, February 2026
7. TradingView, February 2026
8. TradingView, February 2026
9. TradingView, February 2026
10. TradingView, February 2026
11. TradingView, February 2026
12. TradingView, February 2026
13. TradingView, February 2026
14. TradingView, February 2026
15. TradingView, February 2026