Debt-free Chemical stocks in India
Listed Chemical companies with a debt-to-equity ratio of zero in their latest balance sheet and a market cap above ₹500 crore.
Data as of the close
| # | Company | Market cap | Price | P/E | ROE % |
|---|---|---|---|---|---|
| 1 | Vinati Organics | ₹11.6K Cr | ₹1,119.65 | 25.4 | 16.2 |
| 2 | Elantas Beck | ₹9.8K Cr | ₹12,386 | 52.5 | 15.7 |
| 3 | Clean Science and Technology Ltd | ₹7.7K Cr | ₹724 | 33.0 | 15.3 |
| 4 | Foseco India | ₹4.7K Cr | ₹6,294 | 39.0 | 12.6 |
| 5 | Bhansali Engineering Polymers Ltd | ₹2.8K Cr | ₹112.7 | 12.7 | 17.3 |
| 6 | NOCIL | ₹2.3K Cr | ₹140.57 | 28.8 | 2.6 |
| 7 | GOCL Corporation | ₹1.7K Cr | ₹342.1 | 6.1 | 56.7 |
| 8 | Andhra Sugars | ₹1.1K Cr | ₹81.53 | 10.0 | 6.1 |
| 9 | Jyoti Resins | ₹1.1K Cr | ₹914.65 | 16.8 | 27.0 |
| 10 | Sacheerome | ₹827 Cr | ₹369.55 | 27.3 | 27.0 |
| 11 | Amal | ₹807 Cr | ₹655.25 | 27.1 | 20.4 |
| 12 | Kothari Petrochemicals Ltd | ₹719 Cr | ₹122.12 | 9.8 | 21.4 |
| 13 | Uniphos Enterprises Ltd | ₹655 Cr | ₹95.41 | 33.9 | 0.8 |
How this list is made: Debt-to-equity of 0 in the latest annual balance sheet; market cap above ₹500 crore. Banks, NBFCs and insurers are excluded because their borrowings are their business.
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Frequently asked questions
Which Chemical companies are debt-free?
These are the listed companies whose latest balance sheet shows a debt-to-equity ratio of zero, largest first.
Why are banks not on the list?
Borrowing is a bank's raw material, so debt-to-equity says nothing about their safety. They are excluded.
Is a debt-free company always a good investment?
No. Zero debt lowers financial risk but says nothing about growth or valuation; check results and concall commentary too.
Disclaimer: Lists are built from exchange closing prices and reported financials, for information only. They are not investment advice or a recommendation to buy or sell any security.