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The stock market loves debt free companies. These are perceived to be safe stocks. Large institutional funds especially have a preference for the stocks of such companies.
Companies with zero debt usually have strong cash flows and thus have considerable flexibility in how they use the cash in their business.
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| Company | CMP (Rs) | D/E (Curr FY, x) | Total Debt (Curr FY, Rs m) | MCap (Rs m) | P/E (x) | P/BV (x) | Profit CAGR (3 yrs, %) |
|---|---|---|---|---|---|---|---|
| SIEMENS | 6,707.5 | 0.0 | 0 | 2,388,659 | 97.2 | 16.5 | 36.6% |
| SBI LIFE INSURANCE | 1,845.9 | 0.0 | 0 | 1,849,202 | 91.0 | 11.9 | 9.2% |
| TCS | 4,522.3 | 0.0 | 0 | 16,361,896 | 34.8 | 16.0 | 12.3% |
| ZOMATO | 272.9 | 0.0 | 0 | 2,410,901 | 400.5 | 12.1 | NM |
| ABB INDIA | 7,687.5 | 0.0 | 0 | 1,629,035 | 101.2 | 25.7 | 75.6% |
| BHARAT ELECTRONICS | 290.0 | 0.0 | 0 | 2,119,470 | 50.5 | 12.4 | 24.0% |
| BAJAJ HOLDINGS & INVESTMENT | 10,367.9 | 0.0 | 0 | 1,153,880 | 80.8 | 2.1 | 25.8% |
| CG POWER & INDUSTRIAL | 713.6 | 0.0 | 0 | 1,090,653 | 119.2 | 33.6 | NM |
| DIVIS LABORATORIES | 5,495.7 | 0.0 | 0 | 1,458,922 | 87.2 | 10.4 | NM |
| AVENUE SUPERMARTS | 5,186.9 | 0.0 | 0 | 3,375,255 | 127.3 | 17.4 | 32.1% |
| HAVELLS INDIA | 1,987.0 | 0.0 | 0 | 1,245,688 | 89.5 | 15.8 | 6.8% |
| ORACLE FINANCIAL | 12,252.6 | 0.0 | 0 | 1,062,694 | 45.5 | 12.7 | 8.0% |
| INFOSYS | 1,944.3 | 0.0 | 0 | 8,072,995 | 30.3 | 8.6 | 10.6% |
| JIO FINANCIAL SERVICES | 352.0 | 0.0 | 0 | 2,236,038 | 192.5 | 1.6 | 135.4% |
| LIFE INSURANCE CORPORATION | 1,034.0 | 0.0 | 0 | 6,540,048 | 17.5 | 7.1 | 139.6% |
| ITC | 513.8 | 0.0 | 113 | 6,425,318 | 31.0 | 8.1 | 15.7% |
| HUL | 2,934.0 | 0.0 | 130 | 6,893,583 | 66.6 | 12.8 | 8.7% |
| UNITED SPIRITS | 1,522.8 | 0.0 | 250 | 1,107,574 | 78.2 | 14.6 | 57.3% |
| NESTLE | 2,531.7 | 0.0 | 311 | 2,440,957 | 75.2 | 59.7 | 22.9% |
| MARUTI SUZUKI | 12,317.2 | 0.0 | 331 | 3,872,544 | 26.8 | 4.3 | 45.4% |
| AMBUJA CEMENT | 629.4 | 0.0 | 368 | 1,550,167 | 35.5 | 3.1 | 8.5% |
| L&T INFOTECH | 6,416.5 | 0.0 | 407 | 1,900,380 | 41.6 | 9.1 | 33.2% |
| HINDUSTAN AERO. | 4,645.5 | 0.0 | 490 | 3,106,761 | 38.9 | 10.2 | 32.9% |
| SUZLON ENERGY | 83.1 | 0.0 | 1,100 | 1,134,192 | 131.7 | 26.9 | 87.4% |
| PIDILITE INDUSTRIES | 3,310.1 | 0.0 | 1,312 | 1,683,536 | 91.1 | 18.8 | 15.8% |
* We show NM where the values are negative
Disclaimer: This is for information purposes only. These are not stock recommendations and should not be treated as such. Learn more about our recommendation services here... Also note that these screeners are based only on numbers. There is no screening for management quality.
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FAQs
Which are the debt free stocks in India?
As per Equitymaster's Stock Screener, these are some of the debt free stocks in India right now...
These companies have zero or negligible debt on their books as of latest financial year.
- #1 SIEMENS
- #2 SBI LIFE INSURANCE
- #3 TCS
- #4 ZOMATO
- #5 ABB INDIA
Investors have a liking for debt free stocks as they have the ability to tide over higher interest rate environments.
What are debt free stocks?
If a company does not have any debt on its balance sheet, it is said to be a debt-free stock.
Investors have a liking for debt free stocks as they have the ability to tide over higher interest rate environments.
On the other hand, high debt companies face the brunt when the debt becomes unserviceable.
Is being debt free good for a company?
The stock market loves debt free companies. They are perceived to be safe stocks. Large institutional funds especially have a preference for the stocks of such companies.
However, that doesn't mean you should shun companies which have high debt. Debt can help companies grow and expand. It's only when the debt is unserviceable that the company will find itself in trouble.
Which Tata company is debt free?
Currently, Tata Elxsi, Tata Consultancy Services (TCS), Titan and Voltas are among the Tata group companies which are debt free.
You can check out the debt level for all Tata group companies by visiting company factsheets under research it section. Here, apart from debt, you'll find other metrics such as ROE, ROCE, etc.
Also check out Equitymaster's Indian Stock Screener and its segments related to debt.
High Debt Companies in India
Top Companies with Debt Reduction
Are debt free or low debt companies good picks from a dividend payout perspective?
History is proof that high debt companies have fared miserably. That is why investors prefer debt-free companies as a safer investment alternative.
A debt free company has low interest outgo which allows it to retain more cash. This surplus cash can be used for reinvesting in the business, or the company could reward shareholders with a dividend.
For instance, check out the best dividend payout stocks in India and you'll notice that these companies have low or zero debt.
Since dividends interest you, we recommend you check out the below screener segments related to dividend:
Best Smallcap Dividend Growth Stocks in India
Best Midcap Dividend Yield Stocks in India
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