Debt-free Pharma stocks in India
Listed Pharma 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 | Divi's Laboratories Ltd | ₹3.0L Cr | ₹11,442 | 89.0 | 16.5 |
| 2 | J B Chemicals & Pharmaceuticals Ltd | ₹38.7K Cr | ₹2,409 | 53.8 | 18.9 |
| 3 | Concord Biotech Ltd | ₹12.4K Cr | ₹594 | 41.9 | 12.6 |
| 4 | Sun Pharma Advanced Research Company Ltd | ₹6.7K Cr | ₹205.84 | 4.0 | 281.1 |
| 5 | FDC | ₹6.1K Cr | ₹372.1 | 18.4 | 11.5 |
| 6 | Supriya Lifescience Ltd | ₹5.1K Cr | ₹632.1 | 28.6 | 19.1 |
| 7 | Syncom Formulations India Ltd | ₹1.9K Cr | ₹20.29 | 22.5 | 17.6 |
| 8 | Amrutanjan Healt | ₹1.5K Cr | ₹508.45 | 22.5 | 18.4 |
| 9 | Accent Microcell | ₹1.5K Cr | ₹614 | 25.9 | 18.6 |
| 10 | Lincoln Pharmaceuticals | ₹1.0K Cr | ₹522.05 | 10.8 | 12.0 |
| 11 | Influx Healthtech | ₹649 Cr | ₹280.25 | 33.9 | 27.9 |
| 12 | Transchem | ₹505 Cr | ₹412.35 | 89.0 | 0.0 |
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 Pharma 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.