A list of stocks of top debt free companies is provided below. But before you that I will request you to read my blog post on analysis of debt of companies. After reading this article, I’m sure that you will be able to make more meaning out of the below list of stocks.

(Updated on: 08-Feb-2020)

  • Screening Criteria:
    • DMC: Debt minus cash must be negative.
    • D/E: Debt Equity Ratio must be below 0.25.
    • MCap: Market Capitalisation (Rs.Crore).

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SLCompanyPriceD/EM.CapDMC
1Rajesh Exports 702.500.7020,744.96-8,865.01
2Wipro 243.950.181,39,399.56-27,977.80
3Coal India 185.050.081,13,948.85-30,664.25
4Graphite India 318.800.076,227.60-2,039.73
5Hathway Cable19.350.543,434.00-1,175.60
6Kirloskar Oil Eng.141.900.052,037.61-819.77
7Rites 307.600.027,695.00-3,463.91
8NALCO45.100.018,413.93-3,510.37
9Ion Exchange939.050.421,377.27-181.13
10Cochin Shipyard 360.700.044,749.92-2,454.24
11Seshasayee Paper160.800.111,016.03-214.57
12Goldiam Intern.152.250.07348.51-156.61
13SJVN 26.050.1910,217.47-811.83
14BHEL39.800.0813,858.61-4,879.53
15Tech Mahindra 824.450.1079,561.76-6,953.10
16Hindustan Zinc 195.050.0882,414.85-16,973.00
17Interglobe Aviation 1,400.150.3553,861.86-12,709.40
18Dhunseri Ventures 69.200.05242.37-159.67
19HT Media 14.900.45344.47-464.15
20Swelect Energy146.000.27221.47-187.95
21Tamilnadu Petrop.39.300.09353.14-158.43
22Engineers India 91.950.005,813.59-2,764.45
23Kirloskar Industries 640.400.09620.48-834.38
24Music Broadcast 26.700.12739.77-175.32
25Moil 152.050.003,606.20-2,376.44
26Garden Reach Ship.179.950.002,057.93-1,991.23
27Indiabulls Integ.108.750.25974.10-543.54
28Den Networks 53.850.192,538.83-1,813.80
29UFO Moviez India 122.100.17346.59-118.18
30Punjab Alkalies36.900.52100.15-39.96
31Sun TV Network 484.600.0019,093.40-2,686.48
32PG Foils 94.400.6176.56-33.23
33Kalyani Steels 230.700.031,006.64-216.77
34AIA Engineering 1,922.800.0417,936.43-1,232.14
35Techno Electric300.000.033,306.05-487.10
36TD Power Systems 156.700.15480.09-66.58
37Mphasis 937.400.1017,459.64-1,169.05
38Deccan Cements 304.750.13427.23-77.31
39Century Enka 183.150.04400.63-126.27
40NMDC 113.750.0134,797.92-4,255.24
41Siemens 1,507.100.0053,669.10-5,001.90
42Syngene International 314.200.4212,550.00-339.60
43Shreyans Industries 115.950.16161.06-38.06
44Datamatics Global68.550.06403.51-82.99
45Metroglobal 50.300.1062.04-65.63
46Sun Pharma.430.800.251,03,279.37-711.96
47NIIT Technologies 1,885.750.0111,778.65-909.10
48Aegis Logistics 235.100.178,033.12-184.60
49Persistent Systems 709.700.005,409.74-1,000.27
50Hindustan Media V74.600.05544.06-504.99
  • P.Note: Even those stocks appear in the list which has D/E ratio of more than zero. Why we are calling them debt free companies? Because their Debt minus cash component is negative. Read the blog post to know more.

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P.Note: The above list of stocks has been evaluated on the parameter of the debt burden they carry. But the analysis is  based on only rough estimates.

I prefer to do a deeper analysis of my shortlisted stocks using my stocks analysis worksheet

Powerful Stock Analysis Tool

MS Excel Based Tool for novice investors to estimate stock’s intrinsic value.