Low-debt profitable companies in India (Oct 2026)

422 companies · data as of 15 Oct 2026

Debt/equity below 0.5 and ROCE above 15%. Banks and NBFCs excluded.

The 60 largest by market cap of 422.

TATA CONSULTANCY SERVICES LTD TCS · Technology Services · Large ₹2,355 4.6% 1M
Debt / Equity
0.11x
ROCE
63.0%
Market cap
₹8.53L cr
Quality CompounderCash Rich
INFOSYS LTD INFY · Technology Services · Large ₹1,106 2.7% 1M
Debt / Equity
0.10x
ROCE
40.0%
Market cap
₹4.49L cr
Quality CompounderCash Rich
HINDUSTAN UNILEVER LIMITED HINDUNILVR · Consumer Non-Durables · Large ₹1,894 2.3% 1M
Debt / Equity
0.03x
ROCE
28.0%
Market cap
₹4.45L cr
Quality Compounder
SUN PHARMACEUTICAL INDUSTRIES SUNPHARMA · Health Technology · Large ₹1,760 4.1% 1M
Debt / Equity
0.06x
ROCE
21.0%
Market cap
₹4.23L cr
HCL TECHNOLOGIES LIMITED HCLTECH · Technology Services · Large ₹1,358 8.3% 1M
Debt / Equity
0.07x
ROCE
30.0%
Market cap
₹3.70L cr
Quality Compounder
MARUTI SUZUKI INDIA LTD MARUTI · Consumer Durables · Large ₹11,420 6.6% 1M
Debt / Equity
0.00x
ROCE
19.0%
Market cap
₹3.59L cr
ITC LIMITED ITC · Consumer Non-Durables · Large ₹263 1.8% 1M
Debt / Equity
0.03x
ROCE
39.0%
Market cap
₹3.28L cr
Quality CompounderValue Pick
HINDUSTAN AERONAUTICS LIMITED HAL · Electronic Technology · Large ₹4,908 4.5% 1M
Debt / Equity
0.00x
ROCE
32.0%
Market cap
₹3.28L cr
Cash RichQuality Compounder
BHARAT ELECTRONICS LTD BEL · Electronic Technology · Large ₹380 0.8% 1M
Debt / Equity
0.00x
ROCE
36.0%
Market cap
₹2.78L cr
Quality Compounder
COAL INDIA LIMITED COALINDIA · Energy Minerals · Large ₹418 0.3% 1M
Debt / Equity
0.12x
ROCE
35.0%
Market cap
₹2.57L cr
Quality Compounder
NESTLE INDIA LIMITED NESTLEIND · Consumer Non-Durables · Large ₹1,282 5.8% 1M
Debt / Equity
0.09x
ROCE
85.0%
Market cap
₹2.48L cr
Quality Compounder
DIVIS LABORATORIES LIMITED DIVISLAB · Health Technology · Large ₹9,030 1.8% 1M
Debt / Equity
0.00x
ROCE
22.0%
Market cap
₹2.40L cr
ASIAN PAINTS INDIA LTD ASIANPAINT · Process Industries · Large ₹2,353 2.1% 1M
Debt / Equity
0.18x
ROCE
26.0%
Market cap
₹2.27L cr
Quality Compounder
HINDUSTAN ZINC LTD HINDZINC · Non-Energy Minerals · Large ₹530 5.5% 1M
Debt / Equity
0.39x
ROCE
70.0%
Market cap
₹2.24L cr
Quality CompounderValue PickBusiness ahead of price
AVENUE SUPERMARTS LTD DMART DMART · Retail Trade · Large ₹3,369 8.5% 1M
Debt / Equity
0.10x
ROCE
17.0%
Market cap
₹2.20L cr
EICHER MOTORS LTD EICHERMOT · Consumer Durables · Large ₹7,232 3.0% 1M
Debt / Equity
0.02x
ROCE
31.0%
Market cap
₹1.99L cr
Quality Compounder
SOLAR INDUSTRIES INDIA LIMITED SOLARINDS · Process Industries · Large ₹20,000 3.9% 1M
Debt / Equity
0.24x
ROCE
38.0%
Market cap
₹1.81L cr
Quality CompounderHigh Momentum
WIPRO LTD WIPRO · Technology Services · Large ₹173 1.9% 1M
Debt / Equity
0.23x
ROCE
18.0%
Market cap
₹1.72L cr
Cash RichValue Pick
TECH MAHINDRA LIMITED TECHM · Technology Services · Large ₹1,649 4.6% 1M
Debt / Equity
0.07x
ROCE
23.0%
Market cap
₹1.62L cr
High Momentum
HYUNDAI MOTOR INDIA LIMITED HYUNDAI · Consumer Durables · Large ₹1,986 7.2% 1M
Debt / Equity
0.05x
ROCE
38.0%
Market cap
₹1.61L cr
Quality Compounder
TRENT LTD TRENT · Retail Trade · Large ₹2,940 7.7% 1M
Debt / Equity
0.37x
ROCE
28.0%
Market cap
₹1.57L cr
Quality Compounder
PIDILITE INDUSTRIES LTD PIDILITIND · Process Industries · Large ₹1,504 1.1% 1M
Debt / Equity
0.04x
ROCE
31.0%
Market cap
₹1.53L cr
Quality Compounder
VARUN BEVERAGES LIMITED VBL · Consumer Non-Durables · Large ₹430 4.9% 1M
Debt / Equity
0.13x
ROCE
20.0%
Market cap
₹1.45L cr
BSE LIMITED BSE · Finance · Large ₹3,428 3.6% 1M
Debt / Equity
0.00x
ROCE
60.0%
Market cap
₹1.40L cr
Quality CompounderHigh MomentumTrending
BOSCH LIMITED BOSCHLTD · Producer Manufacturing · Large ₹44,600 5.2% 1M
Debt / Equity
0.01x
ROCE
22.0%
Market cap
₹1.31L cr
Quality Compounder
SIEMENS LTD SIEMENS · Producer Manufacturing · Large ₹3,658 3.0% 1M
Debt / Equity
0.02x
ROCE
21.0%
Market cap
₹1.30L cr
CUMMINS INDIA LTD CUMMINSIND · Producer Manufacturing · Large ₹4,631 5.0% 1M
Debt / Equity
0.00x
ROCE
40.0%
Market cap
₹1.29L cr
Quality Compounder
CG POWER AND IND SOLUTIONS LTD CGPOWER · Producer Manufacturing · Large ₹817 4.8% 1M
Debt / Equity
0.01x
ROCE
27.0%
Market cap
₹1.29L cr
Quality Compounder
HITACHI ENERGY INDIA LIMITED POWERINDIA · Electronic Technology · Large ₹28,850 6.3% 1M
Debt / Equity
0.02x
ROCE
29.0%
Market cap
₹1.29L cr
Quality Compounder
POLYCAB INDIA LIMITED POLYCAB · Producer Manufacturing · Large ₹8,198 0.7% 1M
Debt / Equity
0.02x
ROCE
33.0%
Market cap
₹1.24L cr
Quality Compounder
BRITANNIA INDUSTRIES LTD BRITANNIA · Consumer Non-Durables · Large ₹4,855 1.9% 1M
Debt / Equity
0.27x
ROCE
56.0%
Market cap
₹1.17L cr
Quality Compounder
ZYDUS LIFESCIENCES LIMITED ZYDUSLIFE · Health Technology · Large ₹1,143 4.0% 1M
Debt / Equity
0.46x
ROCE
21.0%
Market cap
₹1.14L cr
Price ahead of business
LAURUS LABS LIMITED LAURUSLABS · Health Technology · Large ₹2,020 4.8% 1M
Debt / Equity
0.48x
ROCE
18.0%
Market cap
₹1.10L cr
High MomentumTrending
INDIAN HOTELS CO LTD INDHOTEL · Consumer Services · Large ₹742 3.8% 1M
Debt / Equity
0.22x
ROCE
17.0%
Market cap
₹1.06L cr
Quality Compounder
LODHA DEVELOPERS LIMITED LODHA · Finance · Large ₹1,058 0.7% 1M
Debt / Equity
0.42x
ROCE
16.0%
Market cap
₹1.05L cr
HERO MOTOCORP LIMITED HEROMOTOCO · Consumer Durables · Large ₹5,182 0.3% 1M
Debt / Equity
0.04x
ROCE
35.0%
Market cap
₹1.04L cr
Quality CompounderCash Rich
HDFC ASSET MANAGEMENT CO LTD HDFCAMC · Finance · Large ₹2,411 0.1% 1M
Debt / Equity
0.00x
ROCE
43.0%
Market cap
₹1.03L cr
Quality Compounder
MARICO LIMITED MARICO · Consumer Non-Durables · Large ₹786 0.7% 1M
Debt / Equity
0.13x
ROCE
47.0%
Market cap
₹1.02L cr
Quality Compounder
UNITED SPIRITS LIMITED UNITDSPR · Consumer Non-Durables · Large ₹1,385 1.1% 1M
Debt / Equity
0.05x
ROCE
26.0%
Market cap
₹1.01L cr
Quality Compounder
PERSISTENT SYSTEMS LIMITED PERSISTENT · Technology Services · Mid ₹5,820 6.3% 1M
Debt / Equity
0.06x
ROCE
34.0%
Market cap
₹91,630 cr
Quality Compounder
LUPIN LIMITED LUPIN · Health Technology · Mid ₹1,979 4.1% 1M
Debt / Equity
0.29x
ROCE
30.0%
Market cap
₹90,210 cr
Cash RichValue PickQuality Compounder
GODREJ CONSUMER PRODUCTS LTD GODREJCP · Consumer Non-Durables · Mid ₹866 1.1% 1M
Debt / Equity
0.35x
ROCE
19.0%
Market cap
₹90,180 cr
ORACLE FINANCIAL SERVICES SOFT OFSS · Technology Services · Mid ₹10,260 13.1% 1M
Debt / Equity
0.00x
ROCE
45.0%
Market cap
₹89,490 cr
Quality CompounderHigh Momentum
COFORGE LIMITED COFORGE · Technology Services · Mid ₹1,935 9.0% 1M
Debt / Equity
0.08x
ROCE
24.0%
Market cap
₹85,710 cr
MAZAGON DOCK SHIPBUILDERS LTD MAZDOCK · Producer Manufacturing · Mid ₹2,105 5.9% 1M
Debt / Equity
0.05x
ROCE
36.0%
Market cap
₹84,930 cr
Quality Compounder
MULTI COMMODITY EXCHANGE MCX · Finance · Mid ₹3,213 1.2% 1M
Debt / Equity
0.00x
ROCE
71.0%
Market cap
₹81,940 cr
Quality CompounderHigh Momentum
DIXON TECHNOLOGIES INDIA LTD DIXON · Electronic Technology · Mid ₹12,700 3.6% 1M
Debt / Equity
0.21x
ROCE
29.0%
Market cap
₹77,680 cr
Quality Compounder
WAAREE ENERGIES LIMITED WAAREEENER · Electronic Technology · Mid ₹2,490 2.5% 1M
Debt / Equity
0.22x
ROCE
38.0%
Market cap
₹71,810 cr
Quality CompounderValue PickTrending
APAR INDUSTRIES LIMITED APARINDS · Electronic Technology · Mid ₹16,920 2.2% 1M
Debt / Equity
0.18x
ROCE
32.0%
Market cap
₹70,870 cr
Quality CompounderHigh Momentum
HAVELLS INDIA LIMITED HAVELLS · Producer Manufacturing · Mid ₹1,114 2.5% 1M
Debt / Equity
0.03x
ROCE
25.0%
Market cap
₹70,020 cr
Quality Compounder
NIPPON LIFE IND ASSET MANAGEME NAM-INDIA · Finance · Mid ₹1,088 5.6% 1M
Debt / Equity
0.02x
ROCE
44.0%
Market cap
₹69,250 cr
Quality CompounderHigh Momentum
DABUR INDIA LTD DABUR · Consumer Non-Durables · Mid ₹384 0.4% 1M
Debt / Equity
0.11x
ROCE
20.0%
Market cap
₹68,060 cr
WELSPUN CORP LIMITED WELCORP · Producer Manufacturing · Mid ₹2,482 2.9% 1M
Debt / Equity
0.26x
ROCE
23.0%
Market cap
₹65,440 cr
High MomentumQuality Compounder
UNO Minda Limited UNOMINDA · Producer Manufacturing · Mid ₹1,117 3.7% 1M
Debt / Equity
0.40x
ROCE
20.0%
Market cap
₹64,210 cr
GLENMARK PHARMACEUTICALS LTD GLENMARK · Health Technology · Mid ₹2,245 5.3% 1M
Debt / Equity
0.06x
ROCE
40.0%
Market cap
₹63,310 cr
Quality CompounderCash Rich
NMDC LIMITED NMDC · Non-Energy Minerals · Mid ₹70.82 12.0% 1M
Debt / Equity
0.19x
ROCE
28.0%
Market cap
₹62,150 cr
Quality CompounderValue Pick
OBEROI REALTY LIMITED OBEROIRLTY · Finance · Mid ₹1,705 2.2% 1M
Debt / Equity
0.16x
ROCE
17.0%
Market cap
₹62,090 cr
ALKEM LABORATORIES LIMITED ALKEM · Health Technology · Mid ₹5,120 0.8% 1M
Debt / Equity
0.15x
ROCE
21.0%
Market cap
₹61,390 cr
JINDAL STAINLESS LIMITED JSL · Non-Energy Minerals · Mid ₹722 0.2% 1M
Debt / Equity
0.38x
ROCE
19.0%
Market cap
₹59,570 cr
Quality Compounder
APL APOLLO TUBES LIMITED APLAPOLLO · Non-Energy Minerals · Mid ₹2,136 0.8% 1M
Debt / Equity
0.09x
ROCE
32.0%
Market cap
₹59,500 cr
Quality CompounderTrending

Other screens

Cash Rich Quality Compounder Value Pick High Momentum Business ahead of price Price ahead of business Little growth priced in Promoters buying Institutions in, retail out Consistent compounders Near 52-week high

Screens are descriptive filters on historical data, not recommendations. A company passing a screen is not a suggestion to buy or sell. Not investment advice; ApnaFunda is not a SEBI-registered research analyst.