Last Updated on 2 weeks ago by Raj Kumar
Zero debt companies in India in 2022
Having debt on its book is not necessarily bad for a company/stock but recently there has been a 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 were running a business is quite challenging and the company’s ability to pay back 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 2022.
Have a look at all famous investor’s portfolios here:-
Mohnish Pabrai Stocks Portfolio
Ashish Kacholia stocks portfolio
Page Contents
List of zero debt companies in India – 2022
Here is the list of the top 100 debt-free stocks in India –
| COMPANY / STOCK | SECTOR – INDUSTRY | Price | Market CAP(Rs Cr.) | D/E RATIO(x) |
| TCS | IT Consulting & Software – Large Cap | 3,432.60 | 1,269,736 | 0 |
| Infosys | IT Consulting & Software – Large Cap | 1,542.85 | 649,037 | 0 |
| HUL | Personal Care | 2,149.20 | 504,974 | 0 |
| ITC | Cigarettes | 266.65 | 328,600 | 0 |
| Asian Paints | Paints/Varnishes | 3,016.25 | 289,318 | 0 |
| HCL Tech | IT Consulting & Software – Large Cap | 1,050.20 | 284,989 | 0.06 |
| Wipro | IT Consulting & Software – Large Cap | 485.1 | 265,935 | 0.01 |
| Avenue Supermart | Supermarkets | 3,666.20 | 237,487 | 0 |
| Maruti Suzuki | Auto – Cars/UV/CV | 7,279.25 | 219,892 | 0 |
| Sun Pharma | Pharma – Indian | 883.3 | 211,933 | 0.02 |
| Titan Company | Jewellery Retail | 2,208.75 | 196,090 | 0 |
| Nestle India | FMCG Food & Beverages | 16,995.45 | 163,863 | 0.01 |
| Hindustan Zinc | Metals – Non Ferrous – Copper/Zinc/Alloys – Products | 304.8 | 128,788 | 0.06 |
| Tech Mahindra | IT Consulting & Software – Large Cap | 1,290.75 | 125,439 | 0.01 |
| HDFC Life | Insurance – Life | 565.95 | 119,564 | 0.05 |
| Coal India Ltd | Mining/Minerals | 187.4 | 115,490 | 0.07 |
| Pidilite Ind | Diversified | 2,236.50 | 113,679 | 0 |
| Divis Labs | Pharma – Indian | 4,165.85 | 110,590 | 0 |
| SBI Life | Insurance – Life | 1,059.15 | 105,954 | 0 |
| Bajaj Auto | Auto – 2 & 3 Wheelers | 3,499.75 | 101,271 | 0 |
| Dabur India | Personal Care | 510.8 | 90,302 | 0.02 |
| Shree Cements | Cement – North | 23,973.65 | 86,499 | 0.09 |
| Adani Wilmar Ltd. | Others | 646.2 | 83,985 | 0.01 |
| DLF | Real Estate | 329.15 | 81,475 | 0.09 |
| L&T Infotech | IT Consulting & Software – Mid Cap | 4,593.00 | 80,502 | 0 |
| Siemens | Capital Goods – Diversified | 2,216.00 | 78,916 | 0 |
| Havells India | Electronics/Electricals | 1,238.55 | 77,571 | 0.05 |
| Godrej Consumer | Personal Care | 756.1 | 77,317 | 0.05 |
| Cipla | Pharma – Indian | 934.75 | 75,417 | 0.07 |
| ICICI Pru Life | Insurance – Life | 510.05 | 73,310 | 0.1 |
| FSN E-Comm(Nykaa) | Online Service/Marketplace | 1,539.00 | 72,965 | 0 |
| Ambuja Cements | Cement – Pan India | 365.4 | 72,555 | 0 |
| GAIL | Gas Distribution | 160.2 | 71,135 | 0.1 |
| Tata Consumer | FMCG Food & Beverages | 764.95 | 70,494 | 0.02 |
| Dr. Reddys | Pharma – Indian | 3,930.65 | 65,416 | 0.04 |
| Marico | Personal Care | 503.65 | 65,111 | 0 |
| Berger Paints | Paints/Varnishes | 666.7 | 64,758 | 0.05 |
| Eicher Motors | Auto – 2 & 3 Wheelers | 2,362.45 | 64,595 | 0 |
| ICICI Lombard | Insurance – Non Life | 1,281.40 | 62,903 | 0.03 |
| United Spirits | Beverages & Distilleries | 817.4 | 59,395 | 0 |
| IRCTC | Travel Agen. / Tourism Deve. / Amusement Park / Catering | 704.55 | 56,364 | 0 |
| Bajaj Holdings | Holding – Diversified | 5,020.25 | 55,872 | 0 |
| MindTree | IT Consulting & Software – Mid Cap | 3,373.80 | 55,612 | 0.09 |
| BEL | Defence Contractor | 228.15 | 55,591 | 0 |
| Indus Towers | Telecommunications – Allied Services | 198.9 | 53,602 | 0.09 |
| HAL | Defence Contractor | 1,582.85 | 52,929 | 0 |
| Hero MotoCorp | Auto – 2 & 3 Wheelers | 2,563.35 | 51,219 | 0 |
| Mphasis | IT Consulting & Software – Mid Cap | 2,694.05 | 50,599 | 0 |
| Gland Pharma | Pharma – Indian | 3,055.85 | 50,208 | 0 |
| Info Edge | Online Service/Marketplace | 3,898.05 | 50,201 | 0 |
| Page Industries | Branded Hosiery/Knitwear | 44,911.50 | 50,094 | 0 |
| ABB India | Capital Goods – Diversified | 2,254.20 | 47,768 | 0 |
| Zomato Ltd. | Online Service/Marketplace | 60.5 | 47,625 | 0.06 |
| Tata Elxsi | IT Consulting & Software – Mid Cap | 7,508.00 | 46,757 | 0 |
| NMDC | Mining/Minerals | 152.45 | 44,677 | 0.02 |
| P&G | Personal Care | 13,756.05 | 44,653 | 0 |
| Colgate-Palmolive | Personal Care | 1,581.10 | 43,004 | 0.01 |
| ACC | Cement – Pan India | 2,245.45 | 42,167 | 0 |
| Star Health | Insurance – Health | 726.2 | 41,794 | 0.07 |
| HDFC AMC | AMC | 1,958.00 | 41,760 | 0 |
| Bosch | Auto Ancl – Engine Parts | 13,848.95 | 40,846 | 0 |
| L&T Tech | IT Consulting & Software – Mid Cap | 3,866.90 | 40,808 | 0 |
| PI Industries | Pesticides/Agro Chem | 2,620.30 | 39,755 | 0.05 |
| United Breweries | Beverages & Distilleries | 1,481.65 | 39,176 | 0 |
| Concor | Warehousing/Supply Chain/Road Transport | 637.8 | 38,861 | 0.01 |
| Astral Poly Tech | Plastics – Pipes & Fittings | 1,925.70 | 38,691 | 0.01 |
| Balkrishna Ind. | Tyres & Tubes | 1,994.85 | 38,564 | 0 |
| Alkem Labs | Pharma – Indian | 3,091.55 | 36,964 | 0 |
| PayTM | Online Service/Marketplace | 568 | 36,838 | 0 |
| Polycab India | Electronics/Electricals | 2,418.45 | 36,142 | 0.02 |
| Abbott India | Pharma – MNC | 16,984.30 | 36,090 | 0 |
| Aurobindo Pharma | Pharma – Indian | 612.95 | 35,915 | 0.01 |
| Schaeffler India | Bearings | 2,288.20 | 35,765 | 0 |
| Voltas | Air Conditioners | 1,069.30 | 35,382 | 0 |
| Honeywell | Capital Goods – Diversified | 39,792.50 | 35,183 | 0 |
| Cadila Healthcare | Pharma – Indian | 338.2 | 34,623 | 0.05 |
| Lupin | Pharma – Indian | 723.85 | 32,897 | 0 |
| Petronet LNG | Gas Storage & Distribution | 215.65 | 32,348 | 0 |
| Oberoi Realty | Real Estate | 875.5 | 31,833 | 0.04 |
| Persistent System | IT Consulting & Software – Mid Cap | 4,061.00 | 31,036 | 0.08 |
| Oracle | IT Consulting & Software – Mid Cap | 3,517.10 | 30,334 | 0 |
| Linde India | Industrial Gases | 3,493.75 | 29,796 | 0 |
| MRF | Tyres & Tubes | 69,913.60 | 29,651 | 0.06 |
| Cummins India | Engines | 1,008.60 | 27,958 | 0 |
| Policy Bazaar | Online Service/Marketplace | 616.95 | 27,732 | 0 |
| Deepak Nitrite | Chemicals – Inorganic – Others | 2,028.60 | 27,669 | 0.06 |
| Coromandel Int. | Fertilisers | 911.45 | 26,751 | 0 |
| Relaxo Footwear | Leather – Footwear/Accessories | 1,071.90 | 26,682 | 0 |
| GSK Pharma | Pharma – MNC | 1,526.25 | 25,856 | 0 |
| Trident Ltd | Textiles – Furnishings/Terry Towels | 50.15 | 25,556 | 0.08 |
| Atul | Chemicals – Diversified | 8,533.00 | 25,247 | 0.01 |
| Ipca Labs | Pharma – Indian | 993.25 | 25,199 | 0.01 |
| Supreme Ind. | Plastic Intermediaries/Products | 1,980.45 | 25,157 | 0 |
| Max Financial | Insurance – Life | 710.4 | 24,517 | 0 |
| IGL | Gas Distribution | 348.95 | 24,427 | 0 |
| Kansai Nerolac | Paints/Varnishes | 451.3 | 24,321 | 0 |
| Vedant Fashions Ltd. | Others | 999.35 | 24,255 | 0.07 |
| Thermax | Capital Goods – Diversified | 2,028.70 | 24,173 | 0.01 |
| Bata India | Leather – Footwear/Accessories | 1,856.80 | 23,865 | 0 |
| Zee Ent. | TV Broadcasting & Software Production | 248.25 | 23,845 | 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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Is Zero Debt good for a company?
Having Debt free or zero debt is good for a company because they can avoid interest costs which can impact their balance sheets. But it's not applicable for all the companies as some companies which are in the 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
Infosys
HUL
Wipro
Asian Paints
HCL Tech
ITC
Avenue Supermart
Maruti Suzuki
Titan CompanyWhich are debt-free companies that pay dividends?
Companies that are debt-free and give good dividends are –
Coal India Ltd
Hindustan Zinc
ITC
GAIL
Bharti Infratel
Bajaj Auto
Hero MotoCorp
TCS
Nestle India
MaricoWhich 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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