Best Debt Free Stocks in India 2025
When reviewing a company’s financials, several factors can help investors assess its strength. One important factor is debt. A company with no debt on its balance sheet is considered debt free. This article will cover the benefits, risks, and factors to consider before investing in debt free stocks.
Top Debt Free Stocks
Wednesday, 17 September, 2025
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GENA | General Insurance Corporation of India | GICRE | /stocks/general-insurance-corporation-of-india-GENA | Insurance | 369.70 | 525.50 | 347.00 | 64,860.17 | 8.73 | 17.04 | 1.05 | 2.70 | 12.73 | -6.41 | 200.20 | 176.41 | Midcap | Insurance | Insurance | Reinsurance | -0.23 |
| HDFA | HDFC Asset Management Company Ltd | HDFCAMC | /stocks/hdfc-asset-management-company-HDFA | Asset Management | 5,779.50 | 5,927.50 | 3,563.05 | 123,683.47 | 50.27 | 17.04 | 15.21 | 1.56 | 32.36 | 30.37 | 197.26 | 152.25 | Largecap | Financial Services | Capital Markets | Asset Management & Custody Banks | 0.15 |
| ICIL | ICICI Lombard General Insurance Company Ltd | ICICIGI | /stocks/icici-lombard-general-insurance-company-ICIL | Insurance | 1,912.50 | 2,301.90 | 1,613.70 | 95,118.82 | 37.92 | 17.04 | 6.57 | 0.65 | 18.80 | -8.71 | 57.36 | 45.29 | Midcap | Insurance | Insurance | Property & Casualty Insurance | -0.63 |
| JIO | Jio Financial Services Ltd | JIOFIN | /stocks/jio-financial-services-JIO | Consumer Finance | 315.45 | 363.00 | 198.65 | 200,409.85 | 124.28 | 17.04 | 1.62 | 0.16 | 1.23 | -9.56 | 26.74 | 26.74 | Largecap | Financial Services | Consumer Finance | Diversified Financial Services | 0.79 |
| JNSW | JSW Holdings Ltd | JSWHL | /stocks/jsw-holdings-JNSW | Asset Management | 18,535.00 | 27,740.00 | 7,483.80 | 20,570.16 | 105.04 | 17.04 | 0.66 | 0.00 | 0.69 | 138.25 | 299.44 | 684.78 | Smallcap | Financial Services | Capital Markets | Specialized Finance | 0.94 |
| LIC | Life Insurance Corporation Of India | LICI | /stocks/life-insurance-corporation-of-india-LIC | Insurance | 882.55 | 1,048.90 | 715.30 | 558,212.67 | 11.55 | 17.04 | 4.38 | 1.36 | 45.93 | -14.16 | 34.78 | 0.83 | Largecap | Insurance | Insurance | Life & Health Insurance | 0.28 |
| SBIL | SBI Life Insurance Company Ltd | SBILIFE | /stocks/sbi-life-insurance-company-SBIL | Insurance | 1,818.80 | 1,927.95 | 1,372.55 | 182,330.19 | 75.55 | 17.04 | 10.73 | 0.15 | 15.13 | -0.13 | 42.96 | 109.62 | Largecap | Insurance | Insurance | Life & Health Insurance | -0.42 |
| THEE | New India Assurance Company Ltd | NIACL | /stocks/new-india-assurance-company-THEE | Insurance | 192.80 | 245.30 | 135.60 | 31,773.44 | 30.65 | 17.04 | 1.09 | 0.93 | 3.61 | -19.97 | 116.99 | 77.86 | Smallcap | Insurance | Insurance | Property & Casualty Insurance | -0.24 |
| TINV | Tata Investment Corporation Ltd | TATAINVEST | /stocks/tata-investment-corporation-TINV | Asset Management | 7,039.00 | 7,630.00 | 5,145.15 | 35,614.03 | 114.12 | 17.04 | 1.15 | 0.38 | 1.02 | 2.35 | 154.38 | 686.66 | Midcap | Financial Services | Capital Markets | Asset Management & Custody Banks | -0.34 |
| WABC | ZF Commercial Vehicle Control Systems India Ltd | ZFCVINDIA | /stocks/wabco-india-WABC | Auto Parts | 13,732.00 | 17,300.00 | 9,561.00 | 26,046.29 | 56.53 | 41.93 | 8.10 | 0.14 | 15.35 | -18.66 | 44.56 | 129.03 | Smallcap | Automobiles & Components | Auto Components | Automotive Parts & Equipment | -0.16 |
Disclaimer: Please note that the above debt free company list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
Note: The data on this debt free stocks list is dynamic in nature and subject to real-time changes. This data is derived from Tickertape Stock Screener.
What are Debt Free Stocks?
Debt free stocks are shares of companies with zero debt. This means they primarily rely on their internal funds to finance their operations. However, “debt free” usually refers to the current status rather than a permanent state.
About Top Debt Free Stocks
- Life Insurance Corporation of India: LIC is one of India’s largest life insurance companies. It offers a variety of insurance products, including life, health, and pension plans, and serves a large customer base across the country.
- Jio Financial Services Ltd: Jio Financial Services, part of Reliance Industries, provides financial products like digital lending, wealth management, and insurance. The company offers services to both individuals and businesses throughout India.
- SBI Life Insurance Company Ltd: SBI Life Insurance is a major player in India’s life insurance market. It offers products such as life, health, and pension plans, with a strong presence through the State Bank of India’s vast network.
- HDFC Asset Management Company Ltd: HDFC AMC is an asset management firm. It manages a range of mutual funds and investment products, catering to both individual and institutional investors.
- ICICI Lombard General Insurance Co: ICICI Lombard is a leading general insurance company in India. It provides health, motor, home, and travel insurance products, serving both individuals and businesses.
How to Invest in Debt Free Stocks?
Here is how one can invest in the debt free Indian stocks:
- Open a trading account or a demat account. You can open a demat account with smallcase.
- Conduct thorough research into the debt free stocks in India that are of interest to you. Investors can use tools like the Tickertape Stock Screener to do this. The screener offers 200+ built-in filters to choose from, and investors can choose the parameters to research.
- Place a ‘Buy’ order on the zero debt stocks of your choosing.
Benefits of Investing in Debt Free Stocks
- Minimal Financial Risk: Debt free companies are less susceptible to financial distress during tough economic times, as they don’t have debt obligations.
- Lower Exposure to Interest Rate Fluctuations: Debt free companies are not impacted by changes in interest rates. It allows them to avoid the risk of increasing borrowing costs, especially during challenging economic conditions.
- Stronger Credit Profile: Zero debt companies maintain a strong credit profile and higher creditworthiness. While they may not currently use credit, it allows them to access capital in case of future needs.
- Better Financial Flexibility: Companies without debt can use their internal funds for growth, acquisitions, or research without needing external capital.
Risks of Investing in Debt Free Stocks
- Missed Opportunities: In capital-intensive industries like technology or infrastructure, debt can accelerate growth. The debt free companies might face slower growth compared to competitors that leverage debt for expansion.
- Hoarding Cash: Debt free companies often maintain large cash reserves. If they don’t reinvest this cash into growth or return it to shareholders, it may limit the potential for value creation
- Lack of Tax Shield: Debt free companies miss out on the tax shield that comes with interest payments on debt. Interest expenses on loans are tax-deductible, which reduces the overall taxable income of the company.
Factors to Consider Before Investing in Debt Free Stocks
- Financial Health Beyond Debt: A company’s debt free status is just one part of the picture. Look at other financial measures to get a clearer view of the company’s ability to grow.
- Management Quality: A capable management team with a good track record can guide a company through challenges and growth opportunities.
- Regulatory and Legal Factor: Regulatory factors can significantly impact a debt free company’s operations, especially in heavily regulated industries like financial services or healthcare.
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To Wrap It Up…
Debt free may show financial stability, but it’s important to conduct thorough research into each company’s overall financial health. Consulting with a financial advisor could also help clarify whether debt free stocks align with your investment strategy. Investors can also explore a ready-made model portfolio of zero-debt stocks on smallcase.
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Frequently Asked Questions About Debt Free Stocks
1. What are zero debt companies?
Zero debt companies have no current debt on their balance sheet. Since these companies don’t have outstanding loans or debts, they are not obligated to make interest payments or to repay lenders.
2. How to choose debt free stocks for investing?
To choose the best debt free stocks, you can use the Tickertape stock screener to screen companies based on their financial health and other key factors. You can also explore a smallcase’s readymade portfolio of debt free companies, which is curated by SEBI-certified analysts.
3. What are the advantages of investing in debt free stocks?
Debt free stocks offer lower financial risk as they don’t have to pay interest on loans, especially during economic downturns. Changes in interest rates do not impact these companies.
4. What are the risks associated with debt free stocks?
Debt free companies may miss out on growth opportunities in capital-intensive industries. They may also face higher tax rates because they do not benefit from the tax shield that debt provides.
5. Are there any debt free small cap stocks?
Like other banking stocks, Karur Vyasa Bank is a debt-free stock as of 30 July 2025. You can use Tickertape Stock Screener to find out all the debt free small-cap companies, and filter them based on various financial metrics.
6. Are debt free stocks suitable for beginners in the stock market?
It’s important to check other metrics when analysing a stock, rather than only the debt free status. You can use a stock screener tool like Tickertape stock screener that has more than 200 filters to evaluate various parameters. Before investing in debt free stocks, it’s important to consult a financial advisor.
7. Are debt free stocks a good investment?
When analysing debt free shares, it’s essential to consider factors beyond just the lack of debt. Consulting a financial expert can provide valuable insights, helping you make more informed decisions based on your investment goals and risk tolerance.
8. What are some of the debt free mid cap stocks?
As of 30th July, some of the debt free mid cap stocks include
- ICICI Lombard General Insurance Company Ltd
- Tata Investment Corporation Ltd
- General Insurance Corporation of India
You can also use Ticketape Stock screener to find all the debt free Indian stocks, and compare them based on various parameters.
9. How to find debt free large cap stocks?
To find debt-free large-cap stocks, you can use tools like Tickertape Stock Screener, which allows you to filter companies based on total debt, P/E ratio, debt-to-equity ratio, and other financial parameters.
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