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: 01-Mar-2020)

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

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D/E Ratio is Zero

1Sun TV Network 0.001,315.75-397.08
2Vinati Organics 0.00196.23-725.75
4Mahanagar Gas 0.002,593.66-759.49
5L&T Infotech 0.00192.30-1,439.63
6Bharat Electronics 0.00165.99-77.37
7Whirlpool Of India 0.0069.92-1,326.86
8Accelya Solutions India 0.00412.71-704.01
9Tata Consultancy Services 0.00210.91-1,930.00
10Honeywell Autom.0.0086.50-21,194.63
11Glaxosmithkline Consumer H 0.001,943.07-6,859.80
12Siemens 0.0043.44-995.85
13Bata India 0.0034.46-1,251.74
14Grindwell Norton 0.00174.68-515.25
15Just Dial 0.002,217.62-463.50
16Abbott India 0.00311.82-7,162.88
17P&G Hygiene & H.0.00111.83-9,726.05
18Persistent Systems 0.001,595.55-471.09
19Crisil 0.00225.03-1,137.58
20GMM Pfaudler 0.0063.52-1,119.22
21Tata Elxsi 0.00418.73-597.37
22MindTree 0.00341.28-656.28
23Dr. Lal Pathlabs 0.00359.22-955.86
24Stovec Industries 0.00212.10-1,501.42
25Bosch 0.00177.02-12,017.90

D/E Ratio is not Zero (but like debt free)

1Graphite India 0.07440.24-229.45
2JSW Steel 1.393.86-208.26
3L&T Technology0.03543.84-1,324.22
4HEG 0.18261.29-837.31
5IOL Chemicals0.617.54-172.09
6Gujarat State Petro.1.395.14-160.99
7Coal India 0.0899.62-168.27
8Balkrishna Ind.0.1995.58-688.56
9Lux Industries 0.447.44-990.16
10Hindustan Unilever 0.01261.73-1,653.56
11Bliss GVS Pharma 0.1642.21-93.75
13Alkyl Amines Chem.0.449.71-659.08
14Tube Investments0.417.90-332.37
15Bombay Dyeing19.003.52-68.33
16Fairchem Speciality 0.856.22-408.98
17Supreme Industries 0.0820.37-950.60
18Century Textiles0.9112.43-358.74
19United Spirits 0.935.27-511.26
20DFM Foods 0.735.46-202.25
21Phillips Carbon Black 0.4815.49-112.18
22Godrej Agrovet 0.2414.73-425.40
23Nestle India 0.0122.70-10,034.63
25Kama Holdings 1.645.08-4,528.78
  • 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

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