Last Updated on 4 weeks ago by Raj Kumar
Zero debt companies in India in 2021
Having debt on its book is not necessarily bad for a company / stock but recently there has been focus on companies which have zero debt.
It’s very important to know whether a company has a lot of debt on its books especially in these times where running business is quite challenging and company’s ability to payback on debt is a question.
Investors are preferring companies with negligible or no debt so that they have peace of mind investing in the debt free companies in India and best dividend paying companies.
Let’s have a look at all the zero debt companies in India in November 2021.
Have a look at all famous investor’s portfolios here:-
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Page Contents
List of zero debt companies in India – November 2021
Here the list of top 100 debt free stock in India –
| COMPANY / Stock | SECTOR – INDUSTRY | Price Rs | M CAP(Rs Cr.) | D/E RATIO(x) |
| TCS | IT Consulting & Software | 3,397.75 | 1,293,669 | 0 |
| Infosys | IT Consulting & Software | 1,667.75 | 720,312 | 0 |
| HUL | Personal Care | 2,393.15 | 565,335 | 0 |
| Wipro | IT Consulting & Software | 646.75 | 358,281 | 0.01 |
| HCL Tech | IT Consulting & Software | 1,143.75 | 320,620 | 0.06 |
| Avenue Supermart | Supermarkets | 4,635.45 | 299,272 | 0 |
| Asian Paints | Paints/Varnishes | 3,100.10 | 299,553 | 0 |
| ITC | Cigarettes | 223.2 | 276,591 | 0 |
| Maruti Suzuki | Auto – Cars/UV/CV | 7,482.40 | 236,150 | 0 |
| Titan Company | Jewellery Retail | 2,383.55 | 215,941 | 0 |
| Sun Pharma | Pharma – Indian | 795 | 191,179 | 0.02 |
| Nestle India | FMCG Food & Beverages | 19,000.15 | 180,586 | 0.02 |
| Tech Mahindra | IT Consulting & Software | 1,477.85 | 147,125 | 0.01 |
| HDFC Life | Insurance – Life | 680.45 | 139,900 | 0.05 |
| Divis Labs | Pharma – Indian | 5,150.15 | 136,349 | 0 |
| Pidilite Ind | Diversified | 2,313.65 | 119,048 | 0 |
| L&T Infotech | IT Consulting & Software | 6,682.30 | 117,198 | 0 |
| SBI Life | Insurance – Life | 1,145.55 | 118,065 | 0 |
| Bajaj Auto | Auto – 2 & 3 Wheelers | 3,707.25 | 108,323 | 0 |
| Dabur India | Personal Care | 585.85 | 107,486 | 0.02 |
| Shree Cements | Cement – North | 28,635.25 | 104,159 | 0.09 |
| Zomato Ltd. | Online Service/Marketplace | 131.55 | 101,360 | 0.06 |
| Coal India Ltd | Mining/Minerals | 164.45 | 104,859 | 0.07 |
| DLF | Real Estate | 398.6 | 106,451 | 0.09 |
| Godrej Consumer | Personal Care | 956.65 | 98,577 | 0.05 |
| ICICI Pru Life | Insurance – Life | 618.4 | 90,395 | 0.1 |
| Ambuja Cements | Cement – Pan India | 404.8 | 81,342 | 0 |
| Havells India | Electronics/Electricals | 1,262.95 | 80,345 | 0.08 |
| Info Edge | Online Service/Marketplace | 6,075.35 | 77,987 | 0 |
| Siemens | Capital Goods – Diversified | 2,186.65 | 81,480 | 0 |
| Dr. Reddys | Pharma – Indian | 4,659.20 | 79,406 | 0.04 |
| Tata Consumer | FMCG Food & Beverages | 809.5 | 76,056 | 0.02 |
| MindTree | IT Consulting & Software | 4,492.40 | 76,499 | 0 |
| Marico | Personal Care | 568.45 | 71,961 | 0 |
| Indus Towers | Telecommunications – Allied Services | 271.5 | 77,857 | 0.09 |
| Cipla | Pharma – Indian | 905.05 | 73,325 | 0.07 |
| ICICI Lombard | Insurance – Non Life | 1,481.55 | 74,316 | 0.06 |
| Berger Paints | Paints/Varnishes | 741.5 | 73,746 | 0.05 |
| United Spirits | Beverages & Distilleries | 947.35 | 71,552 | 0 |
| Eicher Motors | Auto – 2 & 3 Wheelers | 2,484.80 | 69,501 | 0 |
| IRCTC | Travel Agen. / Tourism Deve. / Amusement Park / Catering | 845.7 | 66,308 | 0 |
| GAIL | Gas Distribution | 148.85 | 67,050 | 0.1 |
| Gland Pharma | Pharma – Indian | 3,700.20 | 60,604 | 0 |
| Mphasis | IT Consulting & Software | 3,235.80 | 62,951 | 0 |
| HDFC AMC | AMC | 2,647.20 | 56,478 | 0 |
| Bajaj Holdings | Holding – Diversified | 4,829.70 | 53,811 | 0 |
| Hero MotoCorp | Auto – 2 & 3 Wheelers | 2,657.10 | 53,305 | 0 |
| Cadila Healthcare | Pharma – Indian | 502.8 | 50,450 | 0.05 |
| BEL | Defence Contractor | 206.85 | 49,317 | 0 |
| Bosch | Auto Ancl – Engine Parts | 16,952.30 | 52,348 | 0 |
| L&T Tech | IT Consulting & Software | 4,725.00 | 51,841 | 0 |
| Jubilant Food | Restaurant & QSR | 3,689.30 | 49,756 | 0 |
| Balkrishna Ind. | Tyres & Tubes | 2,460.10 | 47,089 | 0 |
| P&G | Personal Care | 14,227.85 | 46,454 | 0 |
| PI Industries | Pesticides/Agro Chem | 2,999.95 | 41,753 | 0.05 |
| ABB India | Capital Goods – Diversified | 2,119.90 | 44,161 | 0 |
| Astral Poly Tech | Plastics – Pipes & Fittings | 2,184.65 | 44,916 | 0.01 |
| United Breweries | Beverages & Distilleries | 1,658.55 | 45,154 | 0.03 |
| ACC | Cement – Pan India | 2,333.40 | 45,069 | 0.01 |
| HAL | Defence Contractor | 1,306.60 | 45,209 | 0 |
| Alkem Labs | Pharma – Indian | 3,610.65 | 43,895 | 0 |
| Abbott India | Pharma – MNC | 20,049.40 | 43,444 | 0 |
| Page Industries | Branded Hosiery/Knitwear | 37,636.05 | 43,209 | 0 |
| Colgate-Palmolive | Personal Care | 1,542.60 | 41,335 | 0.01 |
| NMDC | Mining/Minerals | 143.15 | 41,644 | 0.02 |
| Lupin | Pharma – Indian | 922.9 | 42,252 | 0 |
| Aurobindo Pharma | Pharma – Indian | 689.35 | 40,608 | 0.01 |
| Concor | Warehousing/Supply Chain/ Road Transport | 655.1 | 41,697 | 0.01 |
| Voltas | Air Conditioners | 1,204.55 | 39,896 | 0 |
| Oracle | IT Consulting & Software | 4,424.50 | 37,983 | 0 |
| Honeywell | Capital Goods – Diversified | 41,934.40 | 37,777 | 0 |
| Tata Elxsi | IT Consulting & Software | 5,872.30 | 38,280 | 0 |
| Trent | Retail – Apparel/Accessories | 1,003.15 | 39,049 | 0 |
| Petronet LNG | Gas Storage & Distribution | 229.55 | 34,568 | 0 |
| Polycab India | Electronics/Electricals | 2,261.40 | 35,285 | 0.02 |
| Max Financial | Insurance – Life | 973.6 | 33,421 | 0 |
| IGL | Gas Distribution | 473.9 | 33,397 | 0 |
| Relaxo Footwear | Leather – Footwear/Accessories | 1,331.00 | 34,558 | 0 |
| Oberoi Realty | Real Estate | 905.3 | 37,355 | 0.04 |
| MRF | Tyres & Tubes | 77,308.15 | 33,298 | 0.06 |
| Persistent System | IT Consulting & Software | 3,923.70 | 30,993 | 0 |
| Supreme Ind. | Plastic Intermediaries/Products | 2,328.95 | 29,726 | 0 |
| Coforge | IT Consulting & Software | 4,870.45 | 30,655 | 0 |
| Kansai Nerolac | Paints/Varnishes | 545.05 | 30,557 | 0 |
| Dr Lal Pathlabs | Diagnostics | 3,508.85 | 30,380 | 0 |
| Zee Ent. | TV Broadcasting & Software Production | 300.95 | 29,824 | 0 |
| 3M India | Diversified | 25,400.70 | 29,796 | 0 |
| Whirlpool India | Electronics/Electricals | 2,212.30 | 26,541 | 0 |
| Ipca Labs | Pharma – Indian | 2,142.40 | 27,024 | 0.01 |
| Atul | Chemicals – Diversified | 9,128.40 | 26,383 | 0.03 |
| Sundaram Finance | NBFC – Diversified | 2,390.05 | 27,460 | 0 |
| Nippon Life AMC | AMC | 418.35 | 26,242 | 0 |
| GSK Pharma | Pharma – MNC | 1,503.95 | 27,490 | 0 |
| Bata India | Leather – Footwear/Accessories | 1,979.45 | 26,265 | 0 |
| New India Assurance | Insurance – Non Life | 152.35 | 25,099 | 0 |
| Cummins India | Engines | 895.7 | 24,779 | 0 |
| ICICI Securities | Broking & Allied Services | 738 | 24,007 | 0 |
| BHEL | Capital Goods – Power | 68.25 | 25,210 | 0 |
| Emami | Personal Care | 531.25 | 24,715 | 0 |
| GIC | Insurance – Reinsurance | 133.3 | 23,825 | 0 |
Having zero debt doesn’t necessarily mean the company is good. You need to be selective in picking the right company to invest in where there is future growth.
The above debt free companies in India / zero debt companies in India list definitely helps in finding some good companies where their net debt is zero.
Consider reading – Best dividend paying stocks
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13 safe investments with high returns in India
Is Zero Debt good for a company?
Having Debt free or zero debt is good for a company because they can avoid interest cost which can impact their balance sheets. But it’s not applicable for all the companies as some companies which are in finance business take debt to loan it further to make money. Also, some companies take loans to fuel their growth.
You need to check why a company is taking debt and how they are able to pay back their debt.
Which are the top debt free companies in India?
The top 10 debt free companies in India are as below:-
TCS
Hind. Unilever
Infosys
ITC
Asian Paints
HCL Tech
Maruti Suzuki
Wipro
Nestle India
Avenue Supermart
Which are debt free companies that pay dividends?
Companies which are debt free and give good dividend are –
Coal India Ltd
Hindustan Zinc
ITC
GAIL
Bharti Infratel
Bajaj Auto
Hero MotoCorp
TCS
Nestle India
Marico
Which are debt free penny stocks in India?
Here is the list of debt free penny stocks in India
Raj Rayon
Viji Finance
Bil Energy Sys
Goenka Diamond
Chromatic India
Ramsarup Ind
BSEL Infra
DQ Entertainmnt
Integra Garment
Bohra Industries
Sundaram Multi
Kaushalya Infra
Euro Multivis
Landmark Prop
Indosolar Ltd
TV Vision
TN Telecom
Excel Realty N Infr
CKP Leisure
GI Engineering
BAG Films
Usha Martin
Vikas Proppant & Gr
National Steel
Radha Madhav
Creative Eye
Kridhan Infra
Bartronics
Vikas WSP
Magnum Ventures
Sintex Inds.
IL&FS Invest
Lypsa Gems
BLB Ltd.
Dharani Sugars
Andhra Cements
AB Infrabuild
Tree House Edu
B C Power Contr
Cinevista Ltd
Noida Toll Brid
CIL Nova Petro
Patspin India
Onelife Capital
Ducon Infra
RattanIndia Infra
Brightcom Group
Thomas Scott
Urja Global
STL Global
Ravi Kumar Dist
Mangalam Timber
Data is knowlknowledge.
Knowledge is power.
Debt free.company are useful Post for me.
Thanks.
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