Foseco India: 

Foseco India has a debt-to-equity ratio of zero and has demonstrated significant stock price growth in recent years 

Tanfac Industries: 

Part of the Aditya Birla Group, this company produces hydrofluoric acid and its derivatives. It is debt-free and has shown strong stock performance 

Uniphos Enterprises: 

This company is involved in trading chemicals and has a zero debt-to-equity ratio, making it a stable option in the penny stock category 

Multibase India: 

Specializing in thermoplastic elastomers and silicone-based products, this company has maintained a debt-free status and steady growth​ 

Known for manufacturing ossein and gelatin, Narmada Gelatines is debt-free and has shown substantial profitability and stock appreciation 

Narmada Gelatines: 

Operating in the textile sector, Pasupati Acrylon is debt-free and has been consistently profitable for over a decade, making it a reliable penny stock investment 

Pasupati Acrylon: 

This IT services provider has a strong financial position with minimal debt, making it a promising investment in the penny stock segment​ 

Airan: 

This research serves educational and informational purposes only. It is not to be considered as a portfolio management service, basket recommendation, or investment advisory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.