Top Debt Free Stocks in India for 2025
Posted by : sachet | Fri Feb 28 2025
Debt free stocks in India could suit your investment needs at the time of a severe fall in the stock market. They can deliver sustainable returns just to make your portfolio diversified to help you in setting off the previous losses. Debt free companies in India are not required to pay high interest on borrowed funds. They can utilise their own funds to manage day-to-day business operations. This article highlights some of the top debt free stocks in India and aspects behind investing in them.
List of Debt Free Stocks in India
| Company | CMP (in Rs) | Market Capitalisation (in cr.) | 52-Week High (in Rs) | 52-Week Low (in Rs) |
| ABB India Ltd. | 4,975.65 | 1,05,000.00 | 9,149.95 | 4,975.00 |
| Bajaj Holdings & Investment Ltd. | 11,541.65 | 1,28,000.00 | 13,238.00 | 7,659.95 |
| Divi’s Laboratories Ltd. | 5,373.05 | 1,43,000.00 | 6,285.45 | 3,350.00 |
| Gland Pharma Ltd. | 1,532.40 | 25,250.00 | 2,220.95 | 1,411.10 |
| JSW Holdings Ltd. | 16,643.60 | 18,470.00 | 20,391.20 | 5,970.00 |
*Data is updated as of 28th February 2025.
Also Read: Debt Free Penny Stocks in India
Overview of Debt Free Stocks in India
Have a look at the details of debt free stocks in India to make an informed investment decision.
- ABB India Ltd.
Founded: 1949
Headquarters: Bangalore, India
Market Capitalisation: Rs 1,05,000.00 crore
ABB India Ltd. is engaged in electrification and automation. It is also involved in diverse technical segments such as discrete automation, robotics, motion, and process automation. It provides value-added solutions in machine and factory automation. The process automation segment of the company is designed to optimise the productivity of industrial processes. Its solutions include turnkey engineering, life cycle services, outsourced maintenance, and industry-specific products. The PE ratio of ABB India Ltd. stands at 58.24 and its debt-to-equity ratio is 0.01, which makes it one of the top debt free stocks in India.
- Bajaj Holdings & Investment Ltd.
Founded: 1945
Headquarters: Pune, Maharashtra
Market Capitalisation: Rs 1,28,000.00 crore
Bajaj Holdings & Investment Ltd. is an investment company earning income through dividends, interest, and gains. Other equities portfolio of the company consists of investments in listed and unlisted entities. Moreover, the company’s equities investment portfolio includes communication services, real estate, materials, consumer discretionary, and consumer staples. The PE ratio of Bajaj Holdings & Investment Ltd. is 17.87 and the EPS of this one of the top debt free stocks in India is 674.93.
- Divi’s Laboratories Ltd.
Founded: 1990
Headquarters: Hyderabad, Telangana
Market Capitalisation: Rs 1,43,000.00 crore
Divi’s Laboratories Ltd. is an Indian pharmaceutical company engaged in production of active pharmaceutical ingredients (APIs) and intermediates. Recently, the company has fixed 29th position in the list of India’s richest tycoons on Forbes. It also manufactures and supplies nutraceutical ingredients through its subsidiary company named Divi’s Nutraceuticals. Being one of the top debt free stocks in India, Divi’s Laboratories Ltd. has the PE ratio of 72.04 and book value of 516.71.
- Gland Pharma Ltd.
Founded: 1978
Headquarters: Hyderabad, Telangana
Market Capitalisation: Rs 25,250.00 crore
Gland Pharma Ltd. is engaged in manufacturing of generic injectables with a global footprint in 60+ countries. It has a global presence in the United States, Canada, Europe, India, and Australia. Gland Pharma Ltd. is acclaimed to have a professional management team to witness tremendous growth in the coming decades. Moreover, the PE ratio of Gland Pharma Ltd. is 37.81 and debt-to-equity ratio is 0.04, which made it one of the top debt free stocks in India. Gland Pharma Ltd. is considered as one of the top debt free companies in India providing 1.24% of its profit as dividend yield.
- JSW Holdings Ltd.
Founded: 2001
Headquarters: Mumbai, Maharashtra
Market Capitalisation: Rs 18,470.00 crore
JSW Holdings Ltd. is an investment company engaged in investing and financing under JSW Group. The primary business of this company is to provide loans and pledge shares to generate dividend and interest income. It is recognised as a registered Non-Banking Finance Corporation (NBFC) with RBI. The previous name of JSW Holdings Ltd. was Jindal South West Holdings Limited (JSWHL). The PE ratio of JSW Holdings Ltd. is 87.20 and its EPS is 197.65. It is considered as one of the top debt free stocks in India with no outstanding loans.
Also Read: List of debt free stocks in India 2025
What are Debt Free Stocks in India?
Debt free stocks in India are the equities of the companies operating with zero outstanding loans or external borrowings. Investors are becoming increasingly aware of low-risk investments. In order to have greater financial freedom and a lesser risk of bankruptcy, they are considering the top debt-free stocks in India as a good option. It must be noted that being debt-free does not guarantee that a company will thrive and grow. For investors, zero-debt companies in India offer a number of benefits. Yet, they also carry hazards with them, which need to be taken into account before making an investment decision.
Benefits of Debt Free Stocks in India
Investing in the top debt free stocks in India not only appreciates your capital but also provides you with several other benefits. Here are some of the major benefits of having debt free stocks in India in the investment portfolios.
- Dividend Income
Dividend is the part of profit likely to be distributed among the shareholders. Companies having a little or zero debt may announce dividend payouts more frequently than other businesses in the identical industry. Investors can earn dividend income from debt free stocks in India and can create extra wealth.
- Low Risks
Those having low risk tolerance, can consider debt free stocks in India as they come with low risks and high growth potential. You can lower the investment risk in your portfolio by adding companies with low debt and strong fundamentals.
- Economic Resilience
Investors have a positive outlook for debt free stocks in India and their resilient nature. You can also take the benefit of economic resilience by adding such stocks in your investment portfolios. Moreover, these stocks often deliver sustainable returns even in the macroeconomic events or recession.
- Robust Growth Potential
Debt free stocks in India tend to reflect high growth potential as they enjoy financial stability in the competitive business environment. It helps companies to sustain a competitive edge in the market with a level of aggression.
Also Read: Debt Free Fundamentally Strong Stocks in India
Debt Free Stocks in India With PE Ratio
| Company Name | PE Ratio | Industry PE |
| Bharat Electronics Ltd. | 36.96 | 34.22 |
| SBI Life Insurance Company Ltd. | 61.03 | 24.06 |
| India Motor Parts & Accessories Ltd. | 14.52 | 29.29 |
| GKW Ltd. | -37.76 | 23.49 |
| Vardhman Holdings Ltd. | 4.49 | 17.55 |
*Data is updated as of 28th February 2025.
Debt Free Stocks in India With Dividend Yield
| Company Name | Dividend Yield |
| HDFC Assets Management Company Ltd. | 1.80% |
| Tata Elxsi Ltd. | 1.16% |
| RPG Life Sciences Ltd. | 0.69% |
| Tata Investment Corporation Ltd. | 0.46% |
| ZF Commercial Vehicle Control Systems India Ltd. | 0.15% |
*Data is updated as of 28th February 2025.
Considerable Factors for Debt Free stocks in India
Things do not end here. There is much more to learn about debt free stocks in India to invest with careful consideration. Here we’ve mentioned some of the factors investors should consider when investing in debt free companies in India.
- Management Team
It is the management team that can convert the debt free stocks in India into multibagger stocks. Effective performance of the management team may bring a significant rise in the company’s profitability and brand reputation. Assess the previous achievements of the management team of the debt free companies in India to invest at the right place.
- Financial Health
Explore the financial parameters of the company to know about its efficiency to sustain against the competitors operating in a similar industry. These parameters may include revenue growth, profit margin, cash flow, increase in net worth, etc. Assess the financial health of the top debt free stocks in India before investing in them.
- Technical Analysis
Analyse the technicals of debt free stocks in India to know about their growth potential for the coming decades. You can consider different technical parameters mentioned below.
You can compare the technicals of one stock with another to choose the top investment option.
- Dividend Yield
Debt free stocks in India are not required to pay interest on borrowings. It offers them additional financial flexibility and cash flow to announce dividend payouts. Choose the top debt free companies in India with a compelling track record of dividend yield for their investors.
- Valuation
Know whether stock is trading below or above its book value. Stock valuation matters the most. Consider the book value or actual price of stock to know about the valuation and try to select the undervalued debt free stocks in India to get the benefit of their growth potential.
Also Read: Debt Free Penny Stocks With Good Profitability
Risks For debt free stocks in India
Debt free stocks in India could be the lucrative investment options, but may also involve some risks, which may incur significant losses. Identification of risk and mitigation strategies would likely safeguard the individual’s investment to avoid such risk from the investment journey.
- Low EPS
Debt free stocks in India might suffer low Earnings Per Share (EPS) which would eventually impact their profitability. Low EPS indicates that the company is not utilising funds appropriately so as to sustain a competitive edge in the market. Compare EPS of debt free companies with each other to make an informed investment decision.
- Macroeconomic Events
Debt free stocks in India may suffer macroeconomic events including recession, war, inflation, etc. One should consider fundamentally strong debt free companies to survive the risk of economic factors.
- High Financing Cost
Debt free companies are required to manage funds from expensive sources, which may impact their profitability somewhere. Analyse the financing source of such companies and identify the top suitable option to invest in.
- Market Volatility
The Indian stock market is highly volatile. Unsuspected volatility may incur significant loss of capital for most investors looking for debt free stocks in India. Invest in debt free companies with robust technical parameters to get sustainable returns and take the benefit of their self-resilient nature during the market fluctuations.
How to Invest in Debt Free Stocks in India?
You should follow the steps mentioned below to invest in the top debt free stocks in India.
- Conduct Research: Explore the potential debt free companies along with their fundamentals to make an informed investment decision.
- Demat Account: Open a demat account on Univest to buy/sell/hold shares of debt free companies in India.
- Select Stocks: Select the top debt free companies and place a buy order through your demat account for the quantity you.
- Monitor Returns: Track your returns in the portfolio section and wait for the right time to book profit.
Navigate in the stocks section on Univest to explore top debt free stocks in India for 2025. Have a look at the expert verdicts and stock’s fundamentals before investing in them!
Also Read: top Debt Free Penny Stocks Under 10 Rs
Let’s Wrap on Debt Free Stocks in India
Debt free stocks in India have recently become popular due to consistent fall in the Indian stock market. Investors are seeking safe and low-risk investment options. To invest in these stocks, one should be careful or aware of their benefits and the considerable factors. Besides capital appreciation, the top debt free stocks in India provide benefits such as dividend yield, economic resilience, low risk, diversification, etc. You can try Univest pro to get daily stock recommendations to generate higher returns. Moreover, you can also check experts’ verdicts on different debt free stocks in India with the help of the Univest app.
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FAQs on Debt Free Stocks in India
1. Which company is debt-free?
Ans. In India, several companies are listed on the stock exchange with no outstanding liabilities. These listed companies are often called debt-free stocks. Here are some of the debt-free companies in India.
| Company Name | CMP (in Rs) | Market Capitalisation (in cr.) |
| Kaveri Seed Company Ltd. | 981.95 | 5,219.10 |
| LMW Ltd. | 14,407.70 | 15,492.20 |
| UTI Asset Management Company Ltd. | 955.05 | 12,429.00 |
| Techno Electric & Engineering Company Ltd. | 1,000.85 | 11,601.19 |
| Maharashtra Scooters Ltd. | 9,608.60 | 10,736.16 |
*Data is updated as of 21st February 2025.
2. What are debt-free stocks?
Ans. Here are some of the debt-free stocks in India.
| Company Name | CMP (in Rs) | Market Capitalisation (in cr.) | 52-Week High (in Rs) | 52-Week Low (in Rs) |
| Divi’s Laboratories Ltd. | 5,781.75 | 1,58,655.10 | 6,256.50 | 3,367.85 |
| Gland Pharma Ltd. | 1,534.15 | 25,049.78 | 2,141.60 | 1,440.20 |
| GM Breweries Ltd. | 680.80 | 1,575.00 | 991.30 | 584.20 |
| Hindustan Unilever Ltd. | 2,237.00 | 5,28,388.10 | 3,028.55 | 2,194.05 |
| IRCTC Ltd. | 729.65 | 58,828.29 | 1,126.00 | 719.20 |
*Data is updated as of 21st February 2025.
3. Which debt-free stocks pay dividends?
Ans. Have a look at the table to explore dividend-paying, debt-free stocks in India.
| Company Name | Dividend Yield |
| HDFC Assets Management Company Ltd. | 1.80% |
| Tata Elxsi Ltd. | 1.16% |
| RPG Life Sciences Ltd. | 0.69% |
| Tata Investment Corporation Ltd. | 0.46% |
| ZF Commercial Vehicle Control Systems India Ltd. | 0.15% |
*Data is updated as of 21st February 2025.
All Debt Free Stocks in India
*Data is updated as of 21st February 2025.
| Company | LTP (in Rs) | Market Capitalisation (in cr.) | D/E Ratio |
| Brightcom Group Ltd. | 10.2 | 2,068.00 | 0.00 |
| Bluechip India Ltd. | 6.61 | 35.90 | 0.00 |
| Landmark Property Development Company Ltd. | 8.62 | 111.00 | 0.00 |
| Easy Trip Planners Ltd. | 12.4 | 4,377.00 | 0.00 |
| Vipul Ltd. | 14.0 | 197.00 | 0.26 |
| Axita Cotton Ltd. | 10.3 | 358.00 | 0.08 |
| BFL Asset Finvest Ltd. | 15.0 | 15.30 | 0.04 |
| Maximus International Ltd. | 12.6 | 171.00 | 0.23 |
| Shreeji Translogistics Ltd. | 13.4 | 93.80 | 0.76 |
*Data is updated as of 20th February 2025
Disclaimer: The above debt-free penny stocks are mentioned for informational purposes only. You must conduct your own research to invest in top debt-free penny stocks in India so as to generate the highest possible returns.
Debt Free Penny Stocks Under 1 Rs
| Stock Name | LTP (in Rs) | Market Capitalisation (in cr.) | D/E Ratio |
| Rajnish Wellness Ltd. | 1.00 | 76.80 | 0.00 |
| IFL Enterprises Ltd. | 0.76 | 57.00 | 0.06 |
| Avance Technologies Ltd. | 0.72 | 143.00 | 0.14 |
| Seven Hill Industries Ltd. | 0.95 | 12.40 | 0.68 |
| Greencrest Financial Services Ltd. | 0.73 | 26.70 | 0.75 |
*Data is updated as of 20th February 2025.
Debt Free Penny Stocks Under 5 Rs
| Stock Name | LTP (₹) | Market Capitalisation (₹) | D/E Ratio |
| Beeyu Overseas Ltd. | ₹ 3.89 | ₹ 5.50 | 0.00 |
| DSJ Keep Learning Ltd. | ₹ 4.85 | ₹ 12.1 | 0.09 |
| Quasar India Ltd. | ₹ 4.35 | ₹ 12.2 | 0.13 |
| Quantum Build-Tech Ltd. | ₹ 4.86 | ₹ 12.2 | 0.75 |
| Goenka Diamond & Jewels Ltd. | ₹ 1.08 | ₹ 33.6 | 0.77 |
*Data is updated as of 20th February 2025.
Debt Free Penny Stocks Under 10 Rs
| Company | CMP (in Rs) | Market Capitalisation (in cr.) | 52-Week High (in rs) | 52-Week Low (in rs) |
| Mishtann Foods Ltd. | 5.66 | 609.93 | 21.80 | 5.37 |
| Bluechip India Ltd. | 7.00 | 38.71 | 9.80 | 2.60 |
| Omansh Enterprises Ltd. | 8.76 | 4.40 | 330.00 | 0.99 |
| M Lakhamsi Industries Ltd. | 8.70 | 5.19 | 8.70 | 2.00 |
| Spright Agro Ltd. | 6.43 | 724.00 | 44.66 | 5.33 |
*Data is updated as of 27th February 2025.
Debt Free Penny Stocks With P/E Ratio
Explore the debt free penny stocks with their PE ratio.
| Company | CMP (in Rs) | Market Capitalisation (in cr.) | P/E Ratio | Industry P/E |
| Landmark Property Development Company Ltd. | 8.20 | 114.00 | -7.27 | 65.84 |
| Axita Cotton Ltd. | 10.30 | 359.00 | 44.91 | 40.51 |
| BFL Asset Finvest Ltd. | 14.50 | 15.00 | 8.39 | 23.49 |
| Shreeji Translogistics Ltd. | 12.70 | 91.00 | 25.04 | 35.46 |
| Maximus International Ltd. | 11.80 | 168.00 | 17.17 | 44.07 |
*Data is updated as of 27th February 2025.
Debt Free Penny Stocks Based on 1-Year Returns
Here are some of the top debt free penny stocks on the basis of 1-year returns.
| Company | CMP (in Rs) | Market Capitalisation (in cr.) | 1-Year Returns (in %). |
| Taparia Tools Ltd. | 16.43 | 24.94 | 411.84% |
| Tahmar Enterprises Ltd. | 12.00 | 189.48 | 346.10% |
| Bridge Securities Ltd. | 11.60 | 38.99 | 482.91% |
| Beeyu Overseas Ltd. | 3.79 | 5.36 | 35.36% |
| Quasar India Ltd. | 1.01 | 48.07 | 63.01% |
*Data is updated as of 27th February 2025.
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