Debt Free Companies in India 2017

India experiences both high inflation and high interest rates. Immediate effect of both on companies finance is negative. High interest rates clearly affect companies operating costs & profit margins. Companies which remain isolated from effects of high interest rates are debt free companies.

The companies which are more dependent on debt to manage their working capital, face the burnt of high interest rates. Interest rates of debt is fluctuating. When interest rates goes up, it will eventually increase the expense of company. This will automatically translate in profitability of the company.

Zero debt companies in India are ones which are more self reliant. Such companies are best suited for long term investing.

Profitability of zero debt companies are generally more than high debt companies. Debt is a liability which has also a big cost attached to it. Debt gives immediate relief but its also an expense for the future. Hence companies will lesser profit but zero debt are preferable.

In India we have several zero debt companies.


It will be not be wrong for us to base our investment decision starting from such companies.

High interest rates negatively effects the profitability of high debt companies. In periods of soaring interest rates, low debt and debt free companies emerge as clear winners.

In India, interest rates remain very unpredictable. One never know when rising trend will start again. This mainly happens mainly due to wavering inflation.

In India inflation can stabilizes for few year. But even with minor changes on political front, inflation cuts deep again.

For investors it is important to keep a note of debt free companies in India. Keeping track of price valuation of zero debt companies is a very good idea. Timing purchase of such stocks is recommended. I personally like debt free companies.

Study of debt levels of companies certainly helps. How dependent is company on debt, over long periods of time, speaks a lot about its fundamentals.

Only single year study will not be enough. Hence it is advisable to keep last 5 years financial reports of companies handy.

In this age of fast internet we can keep soft copies of financial statements. Internet enables access to information related to companies with click of a button.

http://www.getmoneyrich.com/product/stock-analysis-worksheet/

Notes on Debt Free Companies:

1) Debt free companies are profitable stocks.
2) High interest rates reduces profitability of debt companies.
3) Zero debt companies have strong business fundamentals.
4) Debt free companies stocks must be preferred for investing.
5) Keeping ready-list of debt free companies is a good.

Interest Expense & Net Profit

Even small increase in interest rates can create big hole in companies profits.

A company, whose turnover is Rs 34,000 Crore & incurs Rs 1,300 Crore of Interest Expense.

This interest expense is 3.8% of total turnover of company.

In terms of expense requirements, 3.8% expense on any one item is is considers very high.

Even marginal increase in interest expense can effect profitability. To negate high interest costs, companies avoid maintaining high debts.

In case debt levels cannot be reduced, companies profits reduces. This is one compromise high debt companies makes all the time.

Debt free companies are completely free of such compromises.

Companies which are debt free generates their liquid cash comparatively easily. This cash is used to manage current liabilities.

When there is no debt (immediate interest expense), companies liquidity level remains good. This makes day-to-day cash cash flow management relatively simpler.

Debt Free Companies are Ideal

Debt free companies are low risk companies for investors. Not only investors but even bankers love such companies. When need comes and such companies need debt, banks can lend them debt at low interest rates.

For investors, debt free companies are investment heavens. Debt free companies are like ‘financially independent’ business.

Such companies has enough cash generating source of their own. They do not need market debt to run their business.

This situation may sound simple, but it take decades for companies to reach this stage.

It has also been observed that, generally debt free companies share higher dividends with its shareholders.

If company is focusing on long term growth, they may not distribute high dividends. But big, debt free companies share reasonably high dividends and also manage fast growth.

Zero Debt & Business Fundamentals

In order to understand this correlation, lets take an example. Look into NMDC’s balance sheet. In last 10 years NMDC had zero debt. During the same period, company was able to increase its reserves at staggering rate of 28% per annum.

Zero debt and fast increasing reserves is an excellent indicator of strong business fundamentals.

NMDC’s is good example of debt free company. Looking at companies Profit & loss accounts, NMDC’s ‘Total Income’ has increased at rate of 19% per annum. While NMDC’s ‘Total expense’ has increased at rate of only 15% per annum. This differential between income and expense enhances companies profit and profitability. NMDC’s profit and profitability both has improved in last 10 years.

Debt Free Companies in India

All debt free companies are Good?

Generally debt free companies are good bet for investment. But all debt free companies may not be good.

A scrutiny of business fundamentals is a must before one goes ahead and buy their stocks.

Its will be good idea to check companies ‘Total Income growth (sales turnover)’. Though company is maintaining zero debt but; if it is not able to increase turnover, it will not be considered good.

To get more idea, compare sales turnover of company with its nearest competitors.

Concept says, it’s a good practice to keep debt levels as low as possible. But this should not be done at cost of ‘business growth’.

Companies which are compromising its growth are either complacent or does not have skillful & dynamic top managers.

A combination of high sales growth and low debt is ideal. Investors must keep track of such companies. Also, companies maintaining high profit margins automatically becomes most preferred by investors.

Debt Free Companies in India 2017

(Updated on September’2017)

SL Company Sector Networth (Rs.Cr) Debt Equity Ratio
1 Oil & Natural Gas Corpn. Ltd. Energy 185,538 0.00
2 Tata Consultancy Services Ltd. Technology 86,214 0.00
3 Infosys Ltd. Technology 68,982 0.00
4 ITC Ltd. FMCG 46,413 0.00
5 Ambuja Cements Ltd. Construction 19,545 0.00
6 Bosch Ltd. Automobile 8,791 0.00
7 ACC Ltd. Construction 8,642 0.00
8 Siemens Ltd. Engineering 6,559 0.00
9 Titan Company Ltd. Cons Durable 4,232 0.00
10 Sun TV Network Ltd. Services 4,028 0.00
11 Patni Computer Systems Ltd. Technology 3,705 0.00
12 Moil Ltd. Metals 3,452 0.00
13 Oracle Financial Services Software Ltd. Technology 3,265 0.00
14 Larsen & Toubro Infotech Ltd. Technology 3,144 0.00
15 Glaxosmithkline Consumer Healthcare Ltd. FMCG 3,123 0.00
16 Indraprastha Gas Ltd. Energy 3,012 0.00
17 Engineers India Ltd. Construction 2,845 0.00
18 BSE Ltd. Financial 2,662 0.00
19 Tata Investment Corpn. Ltd. Financial 2,519 0.00
20 Pfizer Ltd. Healthcare 2,419 0.00
21 Gujarat Pipavav Port Ltd Services 2,142 0.00
22 Bayer CropScience Ltd. Chemicals 2,057 0.00
23 Glaxosmithkline Pharmaceuticals Ltd. Healthcare 2,007 0.00
24 Max Financial Services Ltd. Financial 1,965 0.00
25 Persistent Systems Ltd. Technology 1,899 0.00
26 Mahanagar Gas Ltd. Energy 1,840 0.00
27 Sanofi India Ltd. Healthcare 1,736 0.00
28 Hexaware Technologies Ltd. Technology 1,711 0.00
29 National Buildings Construction Corporation Ltd. Construction 1,694 0.00
30 Info Edge (India) Ltd. Services 1,592 0.00
31 Ajanta Pharma Ltd. Healthcare 1,568 0.00
32 Lakshmi Machine Works Ltd. Engineering 1,558 0.00
33 Procter & Gamble Hygiene & Health Care Ltd. FMCG 1,511 0.00
34 Whirlpool Of India Ltd. Cons Durable 1,483 0.00
35 Schaeffler India Ltd. Engineering 1,453 0.00
36 Abbott India Ltd. Healthcare 1,387 0.00
37 Multi Commodity Exchange India Financial 1,362 0.00
38 Balmer Lawrie & Co. Ltd. Diversified 1,359 0.00
39 CMC Ltd. Technology 1,355 0.00
40 Bata India Ltd. FMCG 1,324 0.00
41 Colgate-Palmolive (India) Ltd. FMCG 1,274 0.00
42 FDC Ltd. Healthcare 1,270 0.00
43 Wabco India Ltd. Automobile 1,266 0.00
44 Pilani Investment & Inds. Corpn. Ltd. Financial 1,219 0.00
45 eClerx Services Ltd Services 1,215 0.00
46 Ratnamani Metals & Tubes Ltd. Metals 1,188 0.00
47 Honeywell Automation India Ltd. Engineering 1,180 0.00
48 BF Investments Ltd. Financial 1,144 0.00
49 Dhunseri Petrochem Ltd. FMCG 1,100 0.00
50 Polaris Consulting & Services Ltd. Technology 1,091 0.00
51 Ingersoll Rand India Ltd. Engineering 1,062 0.00
52 Akzo Nobel India Ltd. Chemicals 1,010 0.00
53 Kirloskar Brothers Investments Ltd. Financial 981 0.00
54 Sharda Cropchem Ltd. Chemicals 960 0.00
55 Crisil Ltd. Financial 945 0.00
56 Novartis India Ltd. Healthcare 920 0.00
57 Alembic Ltd. Healthcare 911 0.00
58 Kaveri Seed Company Ltd. FMCG 907 0.00
59 Tata Sponge Iron Ltd. Metals 865 0.00
60 JSW Holdings Ltd. Financial 858 0.00
61 Gillette India Ltd. FMCG 858 0.00
62 Nesco Ltd. Construction 851 0.00
63 Jubilant FoodWorks Ltd. Services 805 0.00
64 Goodyear India Ltd. Automobile 707 0.00
65 Clariant Chemicals (India) Ltd. Chemicals 673 0.00
66 Just Dial Ltd. Services 672 0.00
67 Texmaco Infrastructure & Holdings Ltd. Diversified 664 0.00
68 Quick Heal Technologies Ltd. Technology 662 0.00
69 Dr. Lal Pathlabs Ltd. Healthcare 660 0.00
70 Tanla Solutions Ltd. Communication 656 0.00
71 Merck Ltd. Healthcare 645 0.00
72 Tinplate Co. Of India Ltd. Metals 622 0.00
73 Castrol India Ltd. Energy 596 0.00
74 Supreme Petrochem Ltd. Energy 582 0.00
75 Vesuvius India Ltd. Construction 568 0.00
76 OnMobile Global Ltd. Technology 564 0.00
77 Tata Elxsi Ltd. Technology 559 0.00
78 Sasken Technologies Ltd. Communication 547 0.00
79 PTL Enterprises Ltd. Services 543 0.00
80 Voltamp Transformers Ltd Engineering 538 0.00
81 VST Industries Ltd. FMCG 537 0.00
82 Monsanto India Ltd. Chemicals 530 0.00
83 Summit Securities Ltd. Financial 522 0.00
84 Nucleus Software Exports Ltd. Technology 520 0.00
85 Munjal Showa Ltd. Automobile 509 0.00
86 ICRA Ltd. Financial 499 0.00
87 Credit Analysis & Research Ltd Financial 495 0.00
88 VST Tillers Tractors Ltd. Engineering 489 0.00
89 Excel Crop Care Ltd. Chemicals 448 0.00
90 Honda Siel Power Products Ltd. Engineering 424 0.00
91 VIP Industries Ltd. Chemicals 408 0.00
92 Thyrocare Technologies Ltd. Healthcare 407 0.00
93 Kirloskar Pneumatic Co. Ltd. Engineering 385 0.00
94 TeamLease Services Ltd. Services 381 0.00
95 Automotive Axles Ltd. Automobile 376 0.00
96 Sandur Manganese & Iron Ores Ltd. Metals 364 0.00
97 Mahindra Ugine Steel Co. Ltd. Metals 358 0.00
98 MPS Ltd. FMCG 347 0.00
99 Reliance Industrial Infrastructure Ltd. Construction 342 0.00
100 Esab India Ltd. Engineering 342 0.00
101 GeeCee Ventures Ltd. Chemicals 340 0.00
102 Xchanging Solutions Ltd. Technology 333 0.00
103 Maharashtra Scooters Ltd. Automobile 325 0.00
104 IL&FS Investment Managers Ltd. Financial 309 0.00
105 Shanthi Gears Ltd. Automobile 306 0.00
106 DIC India Ltd. Chemicals 302 0.00
107 Vardhman Acrylics Textiles 295 0.00
108 Goodricke Group Ltd. FMCG 292 0.00
109 Trigyn Technologies Ltd. Technology 292 0.00
110 Hindustan Oil Exploration Co. Ltd. Energy 289 0.00
111 Swaraj Engines Ltd. Engineering 283 0.00
112 Selan Exploration Technology Ltd. Energy 282 0.00
113 Eimco Elecon (India) Ltd. Engineering 282 0.00
114 EIH Associated Hotels Ltd. Services 281 0.00
115 India Nippon Electricals Ltd. Automobile 275 0.00
116 La Opala RG Ltd. Construction 274 0.00
117 Wim Plast Ltd. Chemicals 263 0.00
118 Mac Charles (India) Ltd. Services 258 0.00
119 Aptech Ltd. Technology 253 0.00
120 Naga Dhunseri Group Ltd. Financial 232 0.00
121 Caplin Point Laboratories Ltd. Healthcare 224 0.00
122 Golden Goenka Fincorp Ltd. Financial 222 0.00
123 Elantas Beck India Ltd Chemicals 222 0.00
124 GM Breweries Ltd. FMCG 220 0.00
125 Elcid Investments Ltd. Financial 212 0.00
126 Orient Refractories Limited Construction 205 0.00
127 Bombay Oxygen Corpn. Ltd. Chemicals 203 0.00
128 Pneumatic Holdings Ltd. Financial 196 0.00
129 Zandu Realty Ltd. Healthcare 196 0.00
130 Hercules Hoists Ltd. Engineering 194 0.00
131 Softsol India Ltd. Technology 192 0.00
132 Industrial & Prudential Investment Co. Ltd. Financial 184 0.00
133 Florence Investech Ltd. Chemicals 182 0.00
134 Astrazeneca Pharma India Ltd. Healthcare 180 0.00
135 Gandhi Special Tubes Ltd. Metals 179 0.00
136 Voith Paper Fabrics India Ltd. Textiles 178 0.00
137 Binny Mills Textiles 171 0.00
138 GMM Pfaudler Ltd. Engineering 167 0.00
139 Bimetal Bearings Ltd. Automobile 164 0.00
140 International Travel House Ltd. Services 162 0.00
141 Bhansali Engineering Polymers Ltd. Chemicals 157 0.00
142 CMI FPE Ltd. Engineering 155 0.00
143 Atul Auto Ltd. Automobile 155 0.00
144 Allsec Technologies Ltd. Services 150 0.00
145 Ultramarine & Pigments Ltd. Chemicals 147 0.00
146 Amrapali Fincap Ltd. Financial 143 0.00
147 Shardul Securities Ltd. Financial 142 0.00
148 SQS India BFSI Ltd. Technology 127 0.00
149 Jullundur Motor Agency (Delhi) Ltd. Services 126 0.00
150 India Gelatine & Chemicals Ltd. FMCG 121 0.00
151 ABM Knowledgeware Ltd. Services 120 0.00
152 Accelya Kale Solutions Ltd. Technology 113 0.00
153 Wendt (India) Ltd. Engineering 112 0.00
154 SMIFS Capital Markets Ltd. Financial 105 0.00
155 Surat Textile Mills Ltd. Textiles 103 0.00
156 Panasonic Energy India Co. Ltd. FMCG 100 0.00
157 VB Industries Ltd. Financial 100 0.00
158 Fortis Malar Hospitals Ltd. Healthcare 97 0.00
159 Indian Toners & Developers Ltd. Chemicals 96 0.00
160 Arrow Greentech Ltd. Chemicals 96 0.00
161 Lloyds Steels Industries Ltd. Metals 95 0.00
162 Disa India Ltd. Engineering 93 0.00
163 Insilco Ltd. Metals 92 0.00
164 Mitcon Consultancy and Engineering Services Ltd. Energy 91 0.00
165 Stovec Industries Ltd. Engineering 90 0.00
166 Panasonic Carbon India Co. Ltd. Engineering 90 0.00
167 Morganite Crucible India Ltd. Construction 88 0.00
168 Divyashakti Granites Ltd. Construction 86 0.00
169 Coral India Finance & Housing Ltd. Financial 84 0.00
170 Sinclairs Hotels Ltd. Services 84 0.00
171 Medi-Caps Ltd. Healthcare 82 0.00
172 Rubfila International Ltd. Chemicals 81 0.00
173 Paushak Ltd Chemicals 80 0.00
174 UP Hotels Ltd. Services 77 0.00
175 Newtime Infrastructure Ltd Healthcare 76 0.00
176 The United Nilgiri Tea Estates Company Ltd. FMCG 76 0.00
177 Anubhav Infrastructure Ltd Construction 70 0.00
178 Elegant Marbles & Grani Inds. Ltd. Services 70 0.00
179 Zodiac-Jrd-Mkj Ltd. Cons Durable 65 0.00
180 Weizmann Ltd. Services 64 0.00
181 Multibase India Ltd. Chemicals 64 0.00
182 NCL Research & Financial Services Ltd. Financial 62 0.00
183 Benares Hotels Ltd. Services 61 0.00
184 Landmark Property Development Company Ltd. Construction 60 0.00
185 Golden Properties & Traders Ltd. Financial 58 0.00
186 Sunrise Industrial Traders Ltd. Financial 57 0.00
187 Sri Amarnath Finance Ltd. Financial 56 0.00
188 Saumya Consultants Ltd Financial 56 0.00
189 Rishiroop Ltd Chemicals 55 0.00
190 Indbank Merchant Banking Services Ltd. Financial 54 0.00
191 Laffans Petrochemicals Ltd. Chemicals 54 0.00
192 Ashirwad Steels & Inds. Ltd. Metals 52 0.00
193 Joindre Capital Services Ltd. Financial 51 0.00
194 Cupid Ltd. Healthcare 51 0.00
195 Goldcrest Corporation Ltd. Financial 51 0.00
196 Pearl Electronics Ltd. Engineering 49 0.00
197 Essar Securities Ltd. Financial 49 0.00
198 Agri- Tech (India) Ltd. FMCG 48 0.00
199 Mount Everest Mineral Water Ltd. FMCG 46 0.00
200 Indo Thai Securities Ltd. Financial 45 0.00
201 Jetking Infotrain Ltd. Technology 45 0.00
202 ADC India Communications Ltd. Communication 44 0.00
203 Vax Housing Finance Corpn. Ltd. Financial 43 0.00
204 Lakshmi Finance & Indl. Corp. Ltd. Financial 39 0.00
205 VEDAVAAG Systems Ltd. Technology 39 0.00
206 Econo Trade (India) Ltd. Financial 37 0.00
207 Victoria Mills Ltd. Textiles 34 0.00
208 Integrated Financial Services Ltd. Financial 33 0.00
209 MSR India Ltd. Financial 32 0.00
210 Real Touch Finance Ltd. Financial 31 0.00
211 Jackson Investments Ltd. Financial 31 0.00
212 Baba Arts Ltd. Services 31 0.00
213 Pressman Advertising Ltd. Services 31 0.00
214 O. P. Chains Ltd. Cons Durable 30 0.00
215 Virat Crane Inds. Ltd. FMCG 29 0.00
216 Swaraj Automotives Ltd. Automobile 28 0.00
217 Greycells Education Ltd. Services 28 0.00
218 SRHHL Industries Ltd Chemicals 28 0.00
219 Integra Engineering India Ltd. Engineering 27 0.00
220 Fluidomat Ltd. Engineering 27 0.00
221 Arun Varun Trade & Investment Ltd. Financial 27 0.00
222 Danlaw Technologies India Ltd. Technology 27 0.00
223 Gujarat Hotels Ltd. Services 26 0.00
224 Sirohia & Sons Ltd. Diversified 26 0.00
225 Rishiroop Rubber (International) Ltd. Chemicals 26 0.00
226 Ahmedabad Steelcraft Ltd. Metals 25 0.00
227 khoobsurat Ltd. Textiles 25 0.00
228 Unishire Urban Infra Ltd. Construction 25 0.00
229 Mihika Industries Ltd. Services 25 0.00
230 Poona Dal & Oil Inds. Ltd. FMCG 25 0.00
231 Key Corp Ltd. Financial 23 0.00
232 ICVL Chemicals Ltd Chemicals 23 0.00
233 BGIL Films & Technologies Ltd Services 23 0.00
234 Aplaya Creations Ltd Services 23 0.00
235 Arihant Multi Commercial Ltd. Healthcare 22 0.00
236 West Leisure Resorts Ltd. Diversified 21 0.00
237 Delta Leasing and Finance Ltd. Financial 21 0.00
238 Synergy Bizcon Ltd. Diversified 21 0.00
239 Addi Industries Ltd. Textiles 20 0.00
240 Cil Securities Ltd. Financial 20 0.00
241 Bafna Spinning Mills & Exports Ltd. Textiles 20 0.00
242 Parle Software Ltd. Technology 20 0.00
243 Saven Technologies Ltd. Technology 19 0.00
244 Ace Software Exports Ltd. Technology 19 0.00
245 Rajdarshan Industries Ltd. Metals 19 0.00
246 Frontier Capital Ltd Financial 19 0.00
247 Dynamic Archistructures Ltd. Financial 18 0.00
248 Kothari World Finance Ltd. Financial 18 0.00
249 Asia Pack Ltd. Textiles 18 0.00
250 UMS Technologies Ltd. Cons Durable 17 0.00
251 Apple Finance Ltd. Financial 17 0.00
252 Kemp & Company Ltd. Chemicals 17 0.00
253 C G-V AK Software & Exports Ltd. Technology 16 0.00
254 United Interactive Ltd. Technology 16 0.00
255 Daikaffil Chemicals India Ltd. Chemicals 16 0.00
256 Welspun Investments and Commercials Ltd. Financial 16 0.00
257 Sujala Trading & Holdings Ltd. Financial 16 0.00
258 Apollo Finvest (India) Ltd. Financial 15 0.00
259 Appu Marketing & Manufacturing Ltd. Services 15 0.00
260 Oasis Securities Ltd. Services 15 0.00
261 Artech Power Products Ltd. Engineering 15 0.00
262 Tarang Projects & Consultant Ltd. Financial 15 0.00
263 Monarch Health Services Ltd. Healthcare 15 0.00
264 B&B Realty Ltd. Construction 14 0.00
265 Walchand Peoplefirst Ltd. Financial 14 0.00
266 Choksi Imaging Ltd. FMCG 14 0.00
267 Som Datt Finance Corpn. Ltd. Financial 14 0.00
268 Grandma Trading & Agencies Ltd. Services 14 0.00
269 Duke Offshore Ltd. Engineering 14 0.00
270 Madhusudan Industries Ltd. FMCG 13 0.00
271 Comfort Commotrade Ltd. Financial 13 0.00
272 Bombay Cycle & Motor Agency Ltd. Services 13 0.00
273 Clio Infotech Ltd. Technology 13 0.00
274 Parab Infra Ltd. Metals 12 0.00
275 Multiplus Holdings Ltd. Financial 12 0.00
276 DJS Stock & Shares Ltd. Financial 12 0.00
277 Luharuka Media & Infra Ltd Financial 12 0.00
278 Kreon Finnancial Services Ltd. Financial 12 0.00
279 Upasana Finance Ltd. Financial 12 0.00
280 SP Capital Financing Ltd. Financial 12 0.00
281 Hindustan Wires Ltd. Metals 12 0.00
282 Gowra Leasing & Finance Ltd. Financial 12 0.00
283 Phaarmasia Ltd. Healthcare 12 0.00
284 Solitaire Machine Tools Ltd. Engineering 12 0.00
285 Kunststoffe Industries Ltd. Chemicals 12 0.00
286 Trimurthi Drugs and Pharmaceuticals Ltd. Healthcare 12 0.00
287 OFS Technologies Ltd Technology 11 0.00
288 Mangalya Soft-Tech Ltd. Technology 11 0.00
289 Vandana Knitwear Ltd. Textiles 11 0.00
290 Sowbhagya Media Ltd. Services 11 0.00
291 Ganon Trading Finance Co. Ltd. Financial 10 0.00
292 Jauss Polymers Ltd. Construction 10 0.00
293 Sumeru Industries Ltd Financial 10 0.00
294 Hit Kit Global Solutions Ltd. Technology 10 0.00
295 Saboo Brothers Ltd. Engineering 10 0.00
296 Octaware Technologies Ltd. Technology 10 0.00
297 Netlink Solutions (India) Ltd. Technology 9 0.00
298 Morarka Finance Ltd. Financial 9 0.00
299 Jattashankar Industries Ltd. Textiles 9 0.00
300 Arihant Avenues & Credit Ltd. Financial 9 0.00
301 Minolta Finance Ltd. Financial 9 0.00
302 Panafic Industrials Ltd. Financial 9 0.00
303 Indo-American Advanced Pharmaceuticals Ltd. Healthcare 9 0.00
304 Explicit Finance Ltd. Financial 9 0.00
305 Advik Industries Ltd Engineering 9 0.00
306 Parshwanath Corporation Ltd. Financial 9 0.00
307 Bharat Bhushan Share & Commodity Brokers Ltd. Financial 9 0.00
308 Karnavati Finance Ltd Financial 8 0.00
309 South India Projects Ltd. Financial 8 0.00
310 Rishabh Digha Steel & Allied Products Ltd. Services 8 0.00
311 Filtra Consultants and Engineers Ltd. Engineering 8 0.00
312 Omega Ag-Seeds (Punjab) Ltd. FMCG 8 0.00
313 ELF Trading & Chemicals Mfg. Ltd. Services 8 0.00
314 Nishtha Finance and Investment (India) Ltd. Financial 8 0.00
315 Golechha Global Finance Ltd. Financial 8 0.00
316 Rich Universe Network Ltd. Financial 8 0.00
317 Adinath Exim Resources Ltd. Services 8 0.00
318 Vaghani Techno-Build Ltd. FMCG 7 0.00
319 Hind Commerce Ltd. Services 7 0.00
320 Dharani Finance Ltd. Financial 7 0.00
321 Beryl Securities Ltd. Financial 7 0.00
322 Boston Leasing and Finance Ltd. Financial 7 0.00
323 Sanblue Corporation Ltd. Textiles 7 0.00
324 Prime Industries Ltd. FMCG 7 0.00
325 Shreejal Info Hubs Ltd. Services 7 0.00
326 Indo Credit Capital Ltd. Financial 7 0.00
327 Arman Holdings Ltd. Financial 7 0.00
328 Crown Tours Ltd. Services 7 0.00
329 Shantai Industries Ltd. Engineering 7 0.00
330 B2B Software Technologies Ltd. Technology 7 0.00
331 Birdhi Chand Pannalal Agencies Ltd. Diversified 6 0.00
332 Duropack Ltd. Chemicals 6 0.00
333 Tejnaksh Healthcare Ltd. Healthcare 6 0.00
334 Women Networks Ltd. Technology 6 0.00
335 Gothi Plascon (India) Ltd. Chemicals 6 0.00
336 Richfield Financial Services Ltd. Financial 6 0.00
337 Octal Credit Capital Ltd. Financial 6 0.00
338 Purohit Construction Ltd. Construction 6 0.00
339 Nexus Commodities And Technologies Ltd. Technology 6 0.00
340 Margo Finance Ltd Financial 6 0.00
341 White Lion Asia Ltd. Financial 6 0.00
342 VMV Holidays Ltd. Services 6 0.00
343 Abhinav Leasing & Finance Ltd. Financial 6 0.00
344 Oracle Credit Ltd Financial 6 0.00
345 Continental Controls Ltd. Engineering 5 0.00
346 Fruition Venture Ltd. Services 5 0.00
347 Ramchandra Leasing & Finance Ltd. Financial 5 0.00
348 S T Services Ltd Financial 5 0.00
349 JJ Finance Corpn. Ltd. Financial 5 0.00
350 Anubhav Industrial Resources Ltd. Financial 5 0.00
351 Shukra Bullions Ltd. Financial 5 0.00
352 Intellivate Capital Ventures Ltd. Metals 5 0.00
353 SW Investments Ltd. Financial 5 0.00
354 Elango Industries Ltd. Metals 5 0.00
355 Ruby Traders & Exporters Ltd. Services 5 0.00
356 Ozone World Ltd Construction 5 0.00
357 Kausambi Vanijya Ltd. Services 5 0.00
358 Multipurpose Trading & Agencies Ltd. Financial 5 0.00
359 Pritika Auto Industries Ltd. Financial 5 0.00
360 Nam Securities Ltd. Financial 4 0.00
361 Indian Link Chain Manufacturers Ltd. Metals 4 0.00
362 Sharanam Infraproject and Trading Ltd. Construction 4 0.00
363 Integra Capital Management Ltd. Financial 4 0.00
364 Helpage Finlease Ltd. Financial 4 0.00
365 Mewat Zinc Ltd. Metals 4 0.00
366 Wellness Noni Ltd. Financial 3 0.00
367 Shree Rang Mark Travels Ltd. Services 3 0.00
368 AVI Polymers Ltd Chemicals 3 0.00
369 Sheraton Properties & Finance Ltd. Financial 3 0.00
370 Emerald Leasing Finance & Investment Company Ltd. Financial 3 0.00
371 Apunka Invest Commercial Ltd. Financial 3 0.00
372 Amarnath Securities Ltd. Financial 3 0.00
373 Sru Share Brokers Ltd. Financial 3 0.00
374 Supremex Shine Steels Ltd. Metals 3 0.00
375 GDL Leasing & Finance Ltd. Financial 3 0.00
376 Intellivate Capital Advisors Ltd. Financial 3 0.00
377 Hypersoft Technologies Ltd. Technology 3 0.00
378 Mid East Portfolio Management Ltd. Energy 3 0.00
379 Kedia Construction Co. Ltd. Construction 3 0.00
380 TRC Financial Services Ltd. Financial 3 0.00
381 Swarna Securities Ltd. Financial 3 0.00
382 Integrated Proteins Ltd. FMCG 2 0.00
383 KMG Milk Food Ltd. FMCG 2 0.00
384 Jindal Online. Com Ltd. Financial 2 0.00
385 Subhkam Capital Ltd Financial 2 0.00
386 Emmessar Biotech & Nutrition Ltd. Chemicals 2 0.00
387 Unijolly Investments Co. Ltd. Financial 2 0.00
388 Savani Financials Ltd. Financial 2 0.00
389 Aashee Infotech Ltd. Technology 2 0.00
390 Parth Aluminium Ltd. Metals 2 0.00
391 Alna Trading & Exports Ltd. FMCG 2 0.00
392 Anshuni Commercials Ltd. Cons Durable 2 0.00
393 Baron Infotech Ltd. Technology 2 0.00
394 AVI Photochem Ltd. Services 2 0.00
395 Bentley Commercial Enterprises Ltd. Financial 2 0.00
396 Speedage Commercials Ltd. Financial 2 0.00
397 Futuristic Securities Ltd. Financial 1 0.00
398 Otco International Ltd. Financial 1 0.00
399 Parsharti Investment Ltd. Financial 1 0.00
400 Regency Trust Ltd. Financial 1 0.00
401 Omega Interactive Technologies Ltd. Technology 1 0.00
402 Unjha Formulations Ltd. Healthcare 1 0.00
403 Moonbeam Industries Ltd. Textiles 1 0.00
404 G-Tech Info Training Ltd. Financial 0 0.00
405 Ventura Textiles Ltd. Textiles 0 0.00
406 Welcure Drugs & Pharmaceuticals Ltd. Healthcare 0 0.00




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Mani
I am a Blogger with a passion for investment education. I started blogging in 2007-08. Blogging didn’t happened to me as a coincidence, it was a conscious decision. The idea with which I started blogging still stands true. In my starting days my finances remained tight. I was reading heavily about how to manage finance. One day I got hold of a book which my father gifted me in 2003. It was stacked below my graduation books. It was a small-thin book with its cover named "Rich Dad Poor Dad".....more

51 Comments on "Debt Free Companies in India 2017"

  1. saravanan ramamoorthy | September 12, 2017 at 2:34 pm | Reply

    Your list of Debt free companies is bigger than other lists… Low priced stocks, Fastest growing companies, Best stocks to invest in 2017.
    Wonder why these are not so much popular. Are they all midcaps ? Why are they flat in volatility ? Is their alpha or beta stable ?

  2. Susanta Kumar kar | September 11, 2017 at 9:50 pm | Reply

    Excellent work, the list of debt free companies is available here

  3. superb

  4. Lakshmanakumar | August 18, 2017 at 6:52 am | Reply

    Very good Information for fresh investor like me. Thanks and keep going

  5. I am planning to invest in Penny stocks for a long term. Can you please guide. Open to buy in bulk

  6. V Nice info

  7. i have been trading for last 10yrs but made nothing .Please give me some guidance to keep some stocks for long term to cover my huge loss .

    • Ravi, avoid trading and opt for long term investing. Suggestion is to buy fundamentally strong stocks at undervalued price levels. This is easier said than done. This is why we suggest our readers to learn stock analysis for long term investing.

  8. Good information.Great work indeed. Thanks a lot.

  9. Shubho Mukherjee | January 21, 2017 at 12:43 am | Reply

    You have not mentioned anything about the charges that may apply on conditions as applicable to me for the subscribe which makes me a little circumspect bcoz all details then have not been provided to me . I will be in a better position to comment only if I have received certain information from U on a continuing basis for at least six months. On a plain reading what U have informed is definitely very informative and acceptable even by common sense wisdom and interesting to read as well

  10. Thanks a lot. Very informative. May God Bless You.

  11. hanumanth mokashi | January 10, 2017 at 2:51 pm | Reply

    I am 10 year old investors but still I am not gain in stock equity market so kindly only one single multibagger share shared me

  12. Good work

  13. Very lucid& informative for the layman to stwho wants to enter the jungle to stay away , where jackals & wolfs ,quacks proclaiming themselves as the pundits regarding stocks

  14. Its so informative ji.

  15. hi..very good insight..please share if you found any good fundamental penny stocks for 10 years long term

  16. Appreciated, Very useful information, Thank you.Please let me know id you have some penny stock suggestion
    Thank you
    BR

  17. Hello to every one, the contents present at this site are actually remarkable for people
    experience, well, keep up the good work fellows.

  18. very useful information. thanks for sharing such a fantastic article.please share me only 10 debt free stocks which can i buy in my portfolio.

  19. This is providing very good information. Really very good article who want to invest in good n debt free companies.

  20. I found the information you provided very useful. Now I am a retired person. Therefore tell me some penny stocks which are debt free, growing companies and management is good. Or you. may suggest some other modus operandi for making wealth by investing in stocks.

  21. reeses fun size | September 9, 2016 at 4:42 pm | Reply

    Right here is the right site for anybody who would like to understand this topic.
    You understand a whole lot its almost hard to argue
    with you (not that I personally would want to…HaHa). You definitely put a fresh spin on a topic that has been written about for many
    years. Great stuff, just wonderful!

  22. CHANDRASEKAR V | September 8, 2016 at 3:03 pm | Reply

    very useful information for beginners who wants to understand the stock market. Thank you

  23. Thank you Dude. Excellent Article and presented in simple form.
    Great Job.

  24. Krishna Kumar | August 26, 2016 at 8:47 pm | Reply

    Can you throw light on these two debt free companies. Are they good for investment? Kailash Auto Finance Ltd and Jmd Telefilms Industries Ltd

  25. I am intrested in debt free company, and i checked hear list of 70 debt free companies.I t is good information

  26. My son is 23 year old and your advice for long term saving from his salary in mutual fund and equity market, pl mention the select companies in both category

  27. Hi,
    Recently 63 Moons Technologies Ltd. was a favourite? I do not see this again in this update? Any recent negative development?

  28. I want to invest 1 lac re in share market for 10 year prospective , suggest me 5 multibager stocks.

  29. excellent

  30. Thanks a lot for sharing this, it is really helpful

  31. You provided all the details in very lucid manner.

  32. Arunachalam swaminathan | March 15, 2016 at 2:08 pm | Reply

    Very useful,information, compiled with deligence. Thanks

  33. VERY GOOD

  34. Mohammad Aamir | January 6, 2016 at 4:01 pm | Reply

    Congratulations, dear. The article provides the precise information I was looking for all around but unable to find. Very, very informative. Thanks again for this extremely useful post.

  35. dhananjay m sonsurkar | December 28, 2015 at 11:34 am | Reply

    very good information for new investors. please guide me for small & midcap multibagger stocks.

  36. awesome analysis

  37. good information about debt free company

  38. Chandrakant patel | October 22, 2015 at 4:23 pm | Reply

    Please guide me for small and multibagger stocks ,i am new in market

  39. out of my 20 years experience as investor of stocks I observe and learnt that investing in debt free stocks one can relax freely even when the stock market crashed.

  40. Good one

  41. I like zero debt free company

  42. I AM V HAPPY TO SEE THIS POST ,I WAS SEARCHING FOR THIS INFORMATION , PLEASE GIVE SOME INFORMATION ON FII HOLDINGS & AND HOW LARGE HOLDINGS HELP TO GROW THE COMPANY

  43. Sanyam jain | May 10, 2015 at 6:47 am | Reply

    Investing in Debt free companies are like investing in g-secs because their chances of running down are pretty low as compared to high debt cimpanies. But it takes decades for companies to become totally debt-free.

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