Stocks with very low debt

Companies are often called debt-free when borrowings are close to nothing compared with shareholders' money. This page applies one test to the latest figures: debt-to-equity below 0.1, which means borrowings under 10 paise for every ₹1 of shareholders' equity. That is very low debt, not always exactly zero.

Debt-to-equity below 0.1
Market cap above ₹500 crore

Each card is a saved set of tests on public data, not a stock pick or recommendation. Results change daily.

Tests A company must pass every one.

Quality
Debt / equity
below 0.1 x
Valuation
Market cap
above 500 ₹ Cr

Showing companies with Debt-to-equity below 0.1 and Market cap above ₹500 crore.

552 companies pass every test · data as of 2 Nov 2026

Listed alphabetically by company name, which says nothing about size, quality or price.

Company	Debt / equity	Market cap	ROE
63MOONS 63 moons technologies limited	0.00x	₹4,430 Cr	-0.63%
ACC ACC Limited · Construction Materials	0.00x	₹21,649 Cr	10.93%
ACE Action Construction Equipment Limited · Capital Goods	0.00x	₹12,166 Cr	22.90%
ACUTAAS Acutaas Chemicals Limited · Healthcare	0.02x	₹31,869 Cr	24.05%
ABSLAMC Aditya Birla Sun Life AMC Limited · Financial Services	0.00x	₹23,553 Cr	25.10%
CPPLUS Aditya Infotech Limited · Capital Goods	0.06x	₹45,345 Cr	19.69%
AEROFLEX Aeroflex Industries Limited	0.00x	₹6,799 Cr	0.00%
AFFLE Affle 3i Limited · Information Technology	0.00x	₹21,181 Cr	13.79%
AIAENG AIA Engineering Limited · Capital Goods	0.00x	₹33,664 Cr	16.99%
AJANTPHARM Ajanta Pharma Limited · Healthcare	0.05x	₹42,573 Cr	25.39%
AJAXENGG Ajax Engineering Limited	0.00x	₹6,234 Cr	16.17%
AKUMS Akums Drugs and Pharmaceuticals Limited	0.02x	₹11,225 Cr	7.70%
ALIVUS Alivus Life Sciences Limited	0.00x	₹17,767 Cr	16.94%
ALKYLAMINE Alkyl Amines Chemicals Limited	0.00x	₹8,444 Cr	11.74%
AMAGI Amagi Media Labs Limited	0.00x	₹11,824 Cr	4.08%
AMBUJACEM Ambuja Cements Limited · Construction Materials	0.00x	₹89,034 Cr	8.38%
ANANDRATHI Anand Rathi Wealth Limited · Financial Services	0.02x	₹37,806 Cr	47.35%
ANTELOPUS Antelopus Selan Energy Limited	0.00x	₹11,079 Cr	13.67%
ANTHEM Anthem Biosciences Limited · Healthcare	0.02x	₹46,931 Cr	19.45%
APLAPOLLO APL Apollo Tubes Limited · Capital Goods	0.09x	₹60,086 Cr	25.31%
ASTRAL Astral Limited · Capital Goods	0.04x	₹36,466 Cr	13.98%
ASTRAZEN AstraZeneca Pharma India Limited	0.00x	₹15,729 Cr	21.49%
ATLANTAELE Atlanta Electricals Limited	0.05x	₹10,999 Cr	21.71%
ATUL Atul Limited · Chemicals	0.03x	₹14,898 Cr	11.47%
AIIL Authum Investment & Infrastructure Limited · Financial Services	0.08x	₹43,874 Cr	13.13%
AVANTIFEED Avanti Feeds Limited · Fast Moving Consumer Goods	0.00x	₹9,363 Cr	19.91%
AWL AWL Agri Business Limited · Fast Moving Consumer Goods	0.08x	₹21,439 Cr	10.49%
BAJAJCON Bajaj Consumer Care Limited	0.00x	₹4,898 Cr	0.00%
BAJAJHLDNG Bajaj Holdings & Investment Limited · Financial Services	0.00x	₹1.15 L Cr	14.19%
BALAMINES Balaji Amines Limited	0.07x	₹5,868 Cr	8.56%
BALUFORGE Balu Forge Industries Limited	0.08x	₹5,701 Cr	16.24%
BASF BASF India Limited	0.00x	₹13,606 Cr	0.00%
BATAINDIA Bata India Limited · Consumer Durables	0.00x	₹8,197 Cr	8.47%
BERGEPAINT Berger Paints (I) Limited · Consumer Durables	0.09x	₹54,639 Cr	17.24%
BDL Bharat Dynamics Limited · Capital Goods	0.00x	₹36,510 Cr	10.19%
BEL Bharat Electronics Limited · Capital Goods	0.00x	₹2.75 L Cr	27.58%
GROWW Billionbrains Garage Ventures Limited · Financial Services	0.02x	₹1.22 L Cr	21.58%
BSOFT BIRLASOFT LIMITED · Information Technology	0.00x	₹9,186 Cr	13.66%
BLACKBUCK BLACKBUCK LIMITED	0.02x	₹9,946 Cr	0.00%
BLSE BLS E-Services Limited	0.00x	₹5,536 Cr	11.01%
BLS BLS International Services Limited · Consumer Services	0.09x	₹9,050 Cr	32.74%
BLUEJET Blue Jet Healthcare Limited	0.00x	₹8,572 Cr	18.22%
BOSCHLTD Bosch Limited · Automobile and Auto Components	0.00x	₹1.42 L Cr	19.35%
BSE BSE Limited · Financial Services	0.00x	₹1.42 L Cr	45.00%
MAPMYINDIA C.E. Info Systems Limited	0.00x	₹4,636 Cr	14.83%
CAMPUS Campus Activewear Limited	0.04x	₹5,949 Cr	16.56%
CAPLIPOINT Caplin Point Laboratories Limited · Healthcare	0.00x	₹17,757 Cr	19.92%
CARBORUNIV Carborundum Universal Limited · Capital Goods	0.08x	₹20,572 Cr	5.24%
CARERATING CARE Ratings Limited	0.00x	₹4,917 Cr	18.36%
CARTRADE Cartrade Tech Limited · Consumer Services	0.00x	₹10,853 Cr	9.48%
CELLO Cello World Limited	0.01x	₹7,637 Cr	12.27%
CDSL Central Depository Services (India) Limited · Financial Services	0.00x	₹26,167 Cr	24.52%
CMPDI Central Mine Planning & Design Institute Limited · Services	0.00x	₹13,023 Cr	26.86%
CERA Cera Sanitaryware Limited	0.00x	₹5,800 Cr	13.87%
CGPOWER CG Power and Industrial Solutions Limited · Capital Goods	0.00x	₹1.29 L Cr	21.96%
CIPLA Cipla Limited · Healthcare	0.01x	₹1.12 L Cr	11.82%
CLEAN Clean Science and Technology Limited · Chemicals	0.00x	₹7,042 Cr	15.31%
COFORGE Coforge Limited · Information Technology	0.04x	₹70,526 Cr	19.68%
COHANCE Cohance Lifesciences Limited · Healthcare	0.04x	₹17,104 Cr	6.39%
COLPAL Colgate Palmolive (India) Limited · Fast Moving Consumer Goods	0.00x	₹42,840 Cr	81.59%
CAMS Computer Age Management Services Limited · Financial Services	0.00x	₹16,498 Cr	39.03%
CONCORDBIO Concord Biotech Limited · Healthcare	0.00x	₹12,172 Cr	13.63%
CONCOR Container Corporation of India Limited · Services	0.00x	₹31,824 Cr	9.81%
COROMANDEL Coromandel International Limited · Chemicals	0.07x	₹51,330 Cr	16.55%
CROMPTON Crompton Greaves Consumer Electricals Limited · Consumer Durables	0.00x	₹12,556 Cr	-7.62%
CUMMINSIND Cummins India Limited · Capital Goods	0.00x	₹1.26 L Cr	29.45%
CYIENT Cyient Limited · Information Technology	0.03x	₹12,692 Cr	7.79%
DABUR Dabur India Limited · Fast Moving Consumer Goods	0.09x	₹66,319 Cr	17.06%
DATAPATTNS Data Patterns (India) Limited · Capital Goods	0.00x	₹21,504 Cr	16.73%
DATAMATICS Datamatics Global Services Limited	0.09x	₹4,384 Cr	12.58%
DELHIVERY Delhivery Limited · Services	0.00x	₹30,599 Cr	1.60%
DHANUKA Dhanuka Agritech Limited	0.00x	₹4,342 Cr	17.08%
DIVISLAB Divi's Laboratories Limited · Healthcare	0.00x	₹2.64 L Cr	16.19%
DLF DLF Limited · Realty	0.00x	₹1.74 L Cr	10.03%
DODLA Dodla Dairy Limited	0.02x	₹6,172 Cr	15.95%
DOMS DOMS Industries Limited · Fast Moving Consumer Goods	0.07x	₹11,197 Cr	20.71%
AGARWALEYE Dr. Agarwal's Health Care Limited	0.08x	₹16,279 Cr	6.58%
LALPATHLAB Dr. Lal Path Labs Ltd. · Healthcare	0.00x	₹31,629 Cr	21.57%
ECLERX eClerx Services Limited · Services	0.00x	₹14,595 Cr	29.02%
EICHERMOT Eicher Motors Limited · Automobile and Auto Components	0.01x	₹1.98 L Cr	23.77%
EIHOTEL EIH Limited · Consumer Services	0.00x	₹18,395 Cr	12.72%
ELECON Elecon Engineering Company Limited · Capital Goods	0.00x	₹9,834 Cr	0.00%
EMAMILTD Emami Limited · Fast Moving Consumer Goods	0.04x	₹16,247 Cr	27.60%
EMMVEE Emmvee Photovoltaic Power Limited · Capital Goods	0.05x	₹16,353 Cr	29.27%
ENGINERSIN Engineers India Limited · Construction	0.00x	₹16,280 Cr	23.79%
ESABINDIA Esab India Limited	0.00x	₹8,331 Cr	48.14%
ESCORTS Escorts Kubota Limited · Capital Goods	0.00x	₹27,111 Cr	21.06%
ETERNAL ETERNAL LIMITED · Consumer Services	0.00x	₹3.16 L Cr	1.19%
ETHOSLTD Ethos Limited	0.00x	₹6,892 Cr	6.37%
EUREKAFORB Eureka Forbes Limited	0.00x	₹6,730 Cr	3.54%
EXIDEIND Exide Industries Limited · Automobile and Auto Components	0.08x	₹28,747 Cr	6.14%
FDC FDC Limited	0.00x	₹6,205 Cr	11.32%
FIEMIND Fiem Industries Limited	0.00x	₹4,734 Cr	21.04%
FINEORG Fine Organic Industries Limited	0.02x	₹16,005 Cr	15.65%
FCL Fineotex Chemical Limited	0.01x	₹5,648 Cr	12.32%
FINCABLES Finolex Cables Limited · Capital Goods	0.00x	₹17,397 Cr	12.33%
FINPIPE Finolex Industries Limited	0.07x	₹8,709 Cr	0.00%
FORCEMOT FORCE MOTORS LTD · Automobile and Auto Components	0.00x	₹23,288 Cr	33.53%
FRACTAL Fractal Analytics Limited · Information Technology	0.09x	₹12,764 Cr	9.17%
GALAXYSURF Galaxy Surfactants Limited	0.06x	₹7,632 Cr	9.74%
GRSE Garden Reach Shipbuilders & Engineers Limited · Capital Goods	0.00x	₹23,447 Cr	31.79%
GRWRHITECH Garware Hi-Tech Films Limited	0.00x	₹16,175 Cr	12.73%
GARFIBRES Garware Technical Fibres Limited	0.03x	₹7,312 Cr	14.67%
GILLETTE Gillette India Limited · Fast Moving Consumer Goods	0.00x	₹22,940 Cr	66.44%
GLAND Gland Pharma Limited · Healthcare	0.02x	₹50,525 Cr	10.53%
GLAXO GlaxoSmithKline Pharmaceuticals Limited · Healthcare	0.00x	₹42,884 Cr	49.11%
GPIL Godawari Power And Ispat limited · Capital Goods	0.07x	₹11,909 Cr	14.95%
GODFRYPHLP Godfrey Phillips India Limited · Fast Moving Consumer Goods	0.02x	₹26,522 Cr	26.64%
GOLDIAM Goldiam International Limited	0.03x	₹4,377 Cr	0.00%
GRAPHITE Graphite India Limited · Capital Goods	0.06x	₹14,733 Cr	2.99%
GRINDWELL Grindwell Norton Limited	0.02x	₹21,801 Cr	16.40%
GMDCLTD Gujarat Mineral Development Corporation Limited · Metals & Mining	0.04x	₹13,501 Cr	14.19%
GNFC Gujarat Narmada Valley Fertilizers and Chemicals Limited	0.00x	₹7,512 Cr	0.00%
GPPL Gujarat Pipavav Port Limited	0.00x	₹7,855 Cr	0.00%
GSFC Gujarat State Fertilizers & Chemicals Limited	0.00x	₹5,444 Cr	5.48%
HAVELLS Havells India Limited · Consumer Durables	0.00x	₹64,524 Cr	19.02%
HBLENGINE HBL Engineering Limited · Capital Goods	0.02x	₹22,678 Cr	44.08%
HCLTECH HCL Technologies Limited · Information Technology	0.00x	₹3.89 L Cr	22.98%
HDFCAMC HDFC Asset Management Company Limited · Financial Services	0.00x	₹1.02 L Cr	32.93%
HEROMOTOCO Hero MotoCorp Limited · Automobile and Auto Components	0.02x	₹1.04 L Cr	28.09%
HAL Hindustan Aeronautics Limited · Capital Goods	0.00x	₹3.25 L Cr	23.98%
HINDCOPPER Hindustan Copper Limited · Metals & Mining	0.03x	₹39,735 Cr	30.60%
HINDUNILVR Hindustan Unilever Limited · Fast Moving Consumer Goods	0.00x	₹4.46 L Cr	30.65%
POWERINDIA Hitachi Energy India Limited · Capital Goods	0.00x	₹1.25 L Cr	21.04%
HONASA Honasa Consumer Limited · Fast Moving Consumer Goods	0.00x	₹14,719 Cr	15.43%
HONAUT Honeywell Automation India Limited · Capital Goods	0.00x	₹25,825 Cr	12.35%
HYUNDAI Hyundai Motor India Limited · Automobile and Auto Components	0.05x	₹1.61 L Cr	29.92%
ICICIAMC ICICI Prudential Asset Management Company Limited · Financial Services	0.00x	₹1.38 L Cr	79.07%
IFBIND IFB Industries Limited	0.02x	₹4,360 Cr	14.43%
IFCI IFCI Limited · Financial Services	0.00x	₹15,562 Cr	2.05%
INDGN Indegene Limited	0.00x	₹14,897 Cr	12.78%
ITDC India Tourism Development Corporation Limited	0.00x	₹5,244 Cr	20.11%
INDIAMART Indiamart Intermesh Limited · Consumer Services	0.00x	₹9,026 Cr	20.70%
IEX Indian Energy Exchange Limited · Financial Services	0.00x	₹9,579 Cr	39.42%
IRCTC Indian Railway Catering And Tourism Corporation Limited · Consumer Services	0.00x	₹35,804 Cr	0.00%
IGL Indraprastha Gas Limited · Oil Gas & Consumable Fuels	0.00x	₹18,609 Cr	14.01%
INDUSTOWER Indus Towers Limited · Telecommunication	0.02x	₹1.01 L Cr	19.81%
NAUKRI Info Edge (India) Limited · Consumer Services	0.00x	₹77,311 Cr	3.98%
INFY Infosys Limited · Information Technology	0.00x	₹4.70 L Cr	31.21%
INGERRAND Ingersoll Rand (India) Limited	0.00x	₹13,335 Cr	41.58%
INOXINDIA INOX India Limited · Capital Goods	0.06x	₹16,736 Cr	25.90%
INTELLECT Intellect Design Arena Limited · Information Technology	0.00x	₹7,418 Cr	11.60%
IGIL International Gemological Institute Limited · Services	0.00x	₹17,211 Cr	47.80%
IOLCP IOL Chemicals and Pharmaceuticals Limited	0.07x	₹5,291 Cr	7.65%
IPCALAB IPCA Laboratories Limited · Healthcare	0.09x	₹49,469 Cr	15.20%
ITCHOTELS ITC Hotels Limited · Consumer Services	0.00x	₹35,511 Cr	7.31%
ITC ITC Limited · Fast Moving Consumer Goods	0.03x	₹3.34 L Cr	29.03%
JAMNAAUTO Jamna Auto Industries Limited	0.00x	₹5,028 Cr	20.14%
JPOLYINVST Jindal Poly Investment and Finance Company Limited	0.01x	₹23,173 Cr	53.43%
JSWDULUX JSW Dulux Limited	0.00x	₹11,897 Cr	80.51%
JSWHL JSW Holdings Limited	0.00x	₹12,477 Cr	0.44%
JUSTDIAL Just Dial Limited	0.00x	₹5,683 Cr	9.73%
JYOTHYLAB Jyothy Labs Limited	0.00x	₹6,787 Cr	20.97%
KAJARIACER Kajaria Ceramics Limited · Consumer Durables	0.04x	₹18,065 Cr	16.71%
KALYANKJIL Kalyan Jewellers India Limited · Consumer Durables	0.08x	₹52,200 Cr	24.30%
KANSAINER Kansai Nerolac Paints Limited	0.01x	₹14,546 Cr	8.78%
KEI KEI Industries Limited · Capital Goods	0.03x	₹36,858 Cr	14.75%
KFINTECH Kfin Technologies Limited · Financial Services	0.00x	₹14,705 Cr	0.00%
KINGFA Kingfa Science & Technology (India) Limited	0.00x	₹8,597 Cr	13.24%
KIOCL KIOCL Limited	0.00x	₹20,415 Cr	0.95%
KIRLOSBROS Kirloskar Brothers Limited · Capital Goods	0.08x	₹14,253 Cr	16.39%
KIRLPNU Kirloskar Pneumatic Company Limited	0.00x	₹7,282 Cr	20.51%
KRBL KRBL Limited	0.03x	₹8,309 Cr	11.16%
KWIL Kwality Wall's (India) Limited	0.07x	₹8,930 Cr	-54.86%
LTTS L&T Technology Services Limited · Information Technology	0.00x	₹44,792 Cr	20.38%
IXIGO Le Travenues Technology Limited	0.01x	₹6,266 Cr	3.52%
LENSKART Lenskart Solutions Limited · Consumer Services	0.03x	₹1.15 L Cr	5.65%
LGBBROSLTD LG Balakrishnan & Bros Limited	0.09x	₹5,371 Cr	14.80%
LGEINDIA LG Electronics India Limited · Consumer Durables	0.00x	₹1.14 L Cr	21.98%
LINDEINDIA Linde India Limited · Chemicals	0.00x	₹49,107 Cr	13.58%
LLOYDSENGG LLOYDS ENGINEERING WORKS LIMITED	0.02x	₹12,206 Cr	11.36%
LMW LMW Limited	0.00x	₹17,548 Cr	4.56%
LTM LTM Limited · Information Technology	0.00x	₹1.25 L Cr	21.48%
MGL Mahanagar Gas Limited · Oil Gas & Consumable Fuels	0.00x	₹10,252 Cr	13.67%
MAHSCOOTER Maharashtra Scooters Limited	0.00x	₹13,922 Cr	1.12%
MAHSEAMLES Maharashtra Seamless Limited	0.00x	₹7,201 Cr	10.20%
MARICO Marico Limited · Fast Moving Consumer Goods	0.08x	₹1.04 L Cr	43.05%
MARKSANS Marksans Pharma Limited	0.01x	₹14,152 Cr	13.82%
MARUTI Maruti Suzuki India Limited · Automobile and Auto Components	0.00x	₹3.67 L Cr	14.43%
MFSL Max Financial Services Limited · Financial Services	0.00x	₹40,396 Cr	1.59%
MAZDOCK Mazagon Dock Shipbuilders Limited · Capital Goods	0.05x	₹70,051 Cr	29.20%
MEDPLUS Medplus Health Services Limited	0.00x	₹7,161 Cr	11.12%
MEESHO Meesho Limited · Consumer Services	0.00x	₹1.01 L Cr	-30.95%
METROBRAND Metro Brands Limited	0.00x	₹22,598 Cr	20.63%
METROPOLIS Metropolis Healthcare Limited	0.01x	₹11,608 Cr	12.56%
MMTC MMTC Limited · Services	0.00x	₹7,835 Cr	20.27%
MOIL MOIL Limited	0.00x	₹4,519 Cr	9.87%
NATCOPHARM Natco Pharma Limited · Healthcare	0.08x	₹14,065 Cr	16.86%
NATIONALUM National Aluminium Company Limited · Metals & Mining	0.00x	₹60,242 Cr	0.00%
NAZARA Nazara Technologies Limited	0.03x	₹14,881 Cr	2.33%
NBCC NBCC (India) Limited · Construction	0.00x	₹20,555 Cr	26.20%
NEPHROPLUS Nephrocare Health Services Limited	0.07x	₹6,264 Cr	6.88%
NESCO Nesco Limited	0.00x	₹7,252 Cr	13.77%
NESTLEIND Nestle India Limited · Fast Moving Consumer Goods	0.00x	₹2.30 L Cr	0.00%
NEWGEN Newgen Software Technologies Limited	0.00x	₹6,300 Cr	16.91%
NAM-INDIA Nippon Life India Asset Management Limited · Financial Services	0.00x	₹61,116 Cr	34.48%
PAYTM One 97 Communications Limited · Financial Services	0.00x	₹1.06 L Cr	3.56%
OFSS Oracle Financial Services Software Limited · Information Technology	0.00x	₹84,773 Cr	32.61%
ORKLAINDIA Orkla India Limited	0.00x	₹7,095 Cr	10.39%
PAGEIND Page Industries Limited · Textiles	0.01x	₹39,596 Cr	52.50%
PARAS Paras Defence and Space Technologies Limited	0.04x	₹9,784 Cr	12.14%
PARASPETRO Paras Petrofils Limited	0.00x	₹61.83 L Cr	-1.75%
POLICYBZR PB Fintech Limited · Financial Services	0.00x	₹43,077 Cr	9.75%
PERSISTENT Persistent Systems Limited · Information Technology	0.00x	₹95,455 Cr	26.35%
PETRONET Petronet LNG Limited · Oil Gas & Consumable Fuels	0.00x	₹45,143 Cr	0.00%
PFIZER Pfizer Limited	0.00x	₹16,647 Cr	17.19%
PWL Physicswallah Limited · Consumer Services	0.00x	₹37,001 Cr	-0.50%
PIIND PI Industries Limited · Chemicals	0.02x	₹32,926 Cr	12.16%
PIDILITIND Pidilite Industries Limited · Chemicals	0.01x	₹1.51 L Cr	23.79%
PINELABS Pine Labs Limited · Financial Services	0.05x	₹18,101 Cr	1.91%
POLYCAB Polycab India Limited · Capital Goods	0.01x	₹1.19 L Cr	24.48%
PRAJIND Praj Industries Limited	0.00x	₹4,984 Cr	1.82%
PGHL Procter & Gamble Health Limited	0.00x	₹9,674 Cr	62.32%
PGHH Procter & Gamble Hygiene and Health Care Limited	0.00x	₹22,349 Cr	113.67%
PRUDENT Prudent Corporate Advisory Services Limited	0.00x	₹11,949 Cr	25.16%
QPOWER Quality Power Electrical Equipments Limited	0.07x	₹11,007 Cr	22.39%
QUESS Quess Corp Limited	0.00x	₹4,758 Cr	19.00%
RRKABEL R R Kabel Limited · Capital Goods	0.09x	₹22,117 Cr	20.83%
RPEL Raghav Productivity Enhancers Limited	0.02x	₹7,613 Cr	0.00%
RAILTEL Railtel Corporation Of India Limited · Telecommunication	0.00x	₹7,466 Cr	16.25%
RAINBOW Rainbow Childrens Medicare Limited · Healthcare	0.00x	₹12,585 Cr	17.86%
RATNAMANI Ratnamani Metals & Tubes Limited	0.07x	₹17,048 Cr	11.74%
RELAXO Relaxo Footwears Limited	0.00x	₹7,166 Cr	8.13%
RHIM RHI MAGNESITA INDIA LIMITED · Capital Goods	0.09x	₹7,283 Cr	-10.13%
RITES RITES Limited · Construction	0.00x	₹9,203 Cr	15.42%
ROLEXRINGS Rolex Rings Limited	0.00x	₹4,533 Cr	11.63%
RPGLIFE RPG Life Sciences Limited	0.03x	₹16,240 Cr	19.02%
SJS S.J.S. Enterprises Limited	0.01x	₹6,724 Cr	19.67%
SAFARI Safari Industries (India) Limited	0.00x	₹5,973 Cr	0.00%
SAILIFE Sai Life Sciences Limited · Healthcare	0.04x	₹32,663 Cr	15.13%
SAPPHIRE Sapphire Foods India Limited	0.00x	₹6,178 Cr	-2.30%
SAREGAMA Saregama India Limited	0.04x	₹10,525 Cr	12.23%
SOTL Savita Oil Technologies Limited	0.00x	₹4,605 Cr	0.00%
STYL Seshaasai Technologies Limited	0.05x	₹5,010 Cr	0.00%
SHADOWFAX Shadowfax Technologies Limited	0.00x	₹15,890 Cr	6.40%
SHARDACROP Sharda Cropchem Limited	0.00x	₹6,178 Cr	21.71%
SHARDAMOTR Sharda Motor Industries Limited	0.00x	₹4,773 Cr	26.31%
SHREECEM SHREE CEMENT LIMITED · Construction Materials	0.07x	₹85,113 Cr	7.78%
SHYAMMETL Shyam Metalics and Energy Limited · Capital Goods	0.09x	₹33,144 Cr	9.70%
ENRIN Siemens Energy India Limited · Capital Goods	0.00x	₹1.05 L Cr	15.86%
SIEMENS Siemens Limited · Capital Goods	0.00x	₹1.21 L Cr	21.03%
SKFINDUS SKF India (Industrial) Limited	0.00x	₹12,253 Cr	14.74%
SKFINDIA SKF India Limited	0.00x	₹7,191 Cr	20.00%
SONACOMS Sona BLW Precision Forgings Limited · Automobile and Auto Components	0.04x	₹56,336 Cr	10.96%
SETL Standard Engineering Technology Limited	0.07x	₹7,992 Cr	10.15%
STYLAMIND Stylam Industries Limited	0.04x	₹4,835 Cr	18.57%
SUMICHEM Sumitomo Chemical India Limited · Chemicals	0.00x	₹16,023 Cr	17.26%
SUNPHARMA Sun Pharmaceutical Industries Limited · Healthcare	0.05x	₹4.25 L Cr	14.74%
SUNTV Sun TV Network Limited · Media Entertainment & Publication	0.00x	₹23,306 Cr	0.00%
SUNFLAG Sunflag Iron And Steel Company Limited	0.05x	₹7,074 Cr	2.28%
SUPREMEIND Supreme Industries Limited · Capital Goods	0.00x	₹40,887 Cr	0.00%
SPLPETRO Supreme Petrochem Limited	0.00x	₹12,969 Cr	13.85%
SUPRIYA Supriya Lifescience Limited	0.00x	₹6,746 Cr	17.46%
SURYAROSNI Surya Roshni Limited	0.02x	₹4,478 Cr	10.85%
SUVEN Suven Life Sciences Limited	0.00x	₹7,167 Cr	-46.73%
SUZLON Suzlon Energy Limited · Capital Goods	0.03x	₹48,380 Cr	40.64%
SWIGGY Swiggy Limited · Consumer Services	0.01x	₹46,388 Cr	-19.68%
SYNGENE Syngene International Limited · Healthcare	0.00x	₹16,638 Cr	0.00%
TMB Tamilnad Mercantile Bank Limited	0.07x	₹12,428 Cr	13.23%
TANLA Tanla Platforms Limited	0.00x	₹8,560 Cr	20.46%
TCS Tata Consultancy Services Limited · Information Technology	0.00x	₹9.06 L Cr	48.72%
TATAELXSI Tata Elxsi Limited · Information Technology	0.00x	₹23,572 Cr	21.30%
TATAINVEST Tata Investment Corporation Limited · Financial Services	0.00x	₹28,910 Cr	1.44%
TDPOWERSYS TD Power Systems Limited · Capital Goods	0.02x	₹22,414 Cr	0.00%
TECHM Tech Mahindra Limited · Information Technology	0.07x	₹1.58 L Cr	16.89%
TECHNOE Techno Electric & Engineering Company Limited · Construction	0.02x	₹9,799 Cr	12.00%
TEGA Tega Industries Limited · Capital Goods	0.09x	₹12,684 Cr	5.94%
TENNIND Tenneco Clean Air India Limited · Automobile and Auto Components	0.00x	₹18,152 Cr	50.41%
GESHIP The Great Eastern Shipping Company Limited · Services	0.06x	₹22,849 Cr	18.85%
INDHOTEL The Indian Hotels Company Limited · Consumer Services	0.00x	₹1.17 L Cr	17.22%
THYROCARE Thyrocare Technologies Limited	0.00x	₹7,600 Cr	27.85%
TIMKEN Timken India Limited · Capital Goods	0.00x	₹22,691 Cr	14.41%
TIPSMUSIC Tips Music Limited	0.00x	₹10,034 Cr	83.38%
TCI Transport Corporation of India Limited	0.09x	₹6,840 Cr	17.92%
TRAVELFOOD Travel Food Services Limited	0.00x	₹15,372 Cr	30.57%
TRENT Trent Limited · Consumer Services	0.07x	₹1.62 L Cr	27.63%
TRITURBINE Triveni Turbine Limited · Capital Goods	0.00x	₹15,674 Cr	26.27%
TSFINV TSF INVESTMENTS LIMITED	0.04x	₹9,034 Cr	8.65%
TTKPRESTIG TTK Prestige Limited	0.03x	₹7,190 Cr	7.91%
TIINDIA Tube Investments of India Limited · Automobile and Auto Components	0.05x	₹42,185 Cr	9.59%
UNITDSPR United Spirits Limited · Fast Moving Consumer Goods	0.00x	₹97,600 Cr	21.55%
URBANCO Urban Company Limited · Consumer Services	0.00x	₹22,938 Cr	-10.95%
USHAMART Usha Martin Limited · Capital Goods	0.04x	₹14,019 Cr	15.39%
UTIAMC UTI Asset Management Company Limited · Financial Services	0.00x	₹10,407 Cr	8.88%
VGUARD V-Guard Industries Limited	0.00x	₹12,209 Cr	12.99%
WABAG VA Tech Wabag Limited	0.09x	₹11,419 Cr	17.03%
MANYAVAR Vedant Fashions Limited	0.00x	₹12,025 Cr	19.12%
VIJAYA Vijaya Diagnostic Centre Limited · Healthcare	0.00x	₹14,996 Cr	19.74%
VIKRAMSOLR Vikram Solar Limited	0.03x	₹4,807 Cr	14.85%
VINATIORGA Vinati Organics Limited	0.00x	₹9,889 Cr	0.00%
VMM Vishal Mega Mart Limited · Consumer Services	0.00x	₹41,544 Cr	0.00%
VOLTAMP Voltamp Transformers Limited	0.00x	₹10,248 Cr	17.04%
WAAREERTL Waaree Renewable Technologies Limited	0.09x	₹7,346 Cr	0.00%
WAKEFIT Wakefit Innovations Limited	0.00x	₹4,464 Cr	16.71%
WSTCSTPAPR West Coast Paper Mills Limited	0.09x	₹5,358 Cr	4.32%
WHIRLPOOL Whirlpool of India Limited · Consumer Durables	0.00x	₹10,419 Cr	7.24%
ZEEL Zee Entertainment Enterprises Limited · Media Entertainment & Publication	0.02x	₹5,918 Cr	2.35%
ZENTEC Zen Technologies Limited · Capital Goods	0.00x	₹15,535 Cr	10.78%
ZENSARTECH Zensar Technologies Limited · Information Technology	0.00x	₹12,311 Cr	17.63%
ZFCVINDIA ZF Commercial Vehicle Control Systems India Limited · Automobile and Auto Components	0.00x	₹24,321 Cr	14.98%

How to read this list

Debt-to-equity compares what a company has borrowed with what shareholders have put in. A low ratio means interest payments take little of the profit, and the company is less exposed when rates rise or earnings dip. It says nothing about whether the business is growing, profitable or fairly priced.

Banks, finance companies and insurers are built on borrowed money, so their ratio works differently and they rarely appear on a list like this. Compare a company with others in its own sector before drawing conclusions.

Limits to keep in mind

Debt-to-equity uses the latest annual balance sheet, so it can be several months old.
A low ratio can also reflect small or loss-making companies; the market-cap floor removes only the smallest.
Leases and other obligations may not be counted as borrowings.

Keep exploring

How to read a stock page When the numbers seem to disagree

Educational list only: not investment advice, research or a recommendation to buy, sell or hold any security. Past performance does not indicate future results. Read the Disclaimer.