21 Best Debt Free Stocks to Buy under Rs 100 in India [2022]

More than 5000 companies are listed on exchanges. From them, it is not easy to find good debt free stocks below Rs 100. However, in this article, we have curated a list of top stocks for you which can be considered for purchasing if you are looking for best debt free shares under ₹100.

In this article

• What are Debt Free Stocks?
• Filters used to select Best Debt Free stocks under ₹100
• List of Debt Free Stocks below ₹100
• Business Details of Low Price Debt Free Stocks
• What kind of Small Debt Free Stocks have been selected?
• Are Low Price Debt Free Stocks better for Investment?
• Should we buy the mentioned Stocks in the List?
• Best MNC Debt Free Stocks under Rs 100

 

What are Debt Free Stocks?

Debt Free Stocks can be considered those companies where the debt is almost zero on the company. When the debt is almost zero, the business is generally considered less risky.

In this article, those companies whose Debt to Equity ratio is below 0.2 have been taken here. The higher the ratio would be, the higher would be the Debt on the company. Those companies having Debt-Equity ratio below 0.2 can be considered quite safe and can be called debt free companies.

We have discussed about the reason behind why we choosed 0.2 Debt/Equity ratio as the criteria for filtering and not Zero debt companies in the last of this article.

Filters Used to Select Best Under 100 Debt Free Stocks

Beside of Debt to Equity ratio of 0.2, many other criterias were used to select these stocks. Past Growth Numbers of the business, Promoters and their holding in the company, financial ratios like PE, Price to Sales, ROE, Profit Margins etc are some factors that were analysed. Whether the company is paying dividend or not was also considered.

In the list, there are few stocks whose price is little above ₹100. However, they have also been added here because it wouldn’t be a good idea to miss some nice stocks just because they trade 5-10 rupees higher than 100.

So, here is the list of Top Low Price Debt Free Stocks.

List of Debt Free Stocks Under Rs 100 in India

Engineers India

Engineers India Ltd (EIL) is a leading global engineering consultancy and EPC company. Established in 1965, EIL provides engineering consultancy and EPC services principally focused on the oil & gas and petrochemical industries. The Company has also diversified into sectors like infrastructure, water and waste management, solar & nuclear power and fertilizers to leverage its strong technical competencies and track record.

Today, EIL is a ‘Total Solutions’ engineering consultancy company providing design, engineering, procurement, construction and integrated project management services. It also provides specialist services such as heat and mass transfer equipment design, environmental engineering, specialist materials and maintenance and plant operations and safety services.

Manali Petrochemicals

Manali Petrochemical Ltd. (MPL) established in 1986, is a leader in the production and marketing of propylene glycol and polyols in India. It is a SmallCap company.

Based in Chennai, Manali Petrochemical annually produces 27000 metric tonnes of propylene oxide, 14,000 metric tonnes of propylene glycol and 15,000 metric tonnes of polyether polyol and system polyol.

Manali Petrochemicals Limited (MPL) is a chemicals company developing innovative products that find application in a variety of industries such as appliances, automotive, bedding, food & fragrances, furniture, footwear, paints and coatings, and pharmaceuticals.

Singer India

Established in the year 1851 by Sir Isaac Merritt Singer, ‘Singer Sewing Machine Company’ has been a pioneer in manufacturing and selling sewing machines for 170 years. The company created its foothold in India in the year 1871 with company “Singer India Limited”, as we know it today, with its headquarters in New Delhi. Singer India has its manufacturing facilities in Jammu in the state of Jammu and Kashmir in India.

It has two major business segments – Sewing Products and Home appliances. Under home appliances segment, their make food processors, dry iron and steam irons, mixer grinders, Sandwich makers and toasters, hand blenders, etc. The company has recently added room cooler and water heaters to widen its product portfolio. The Sewing products are marketed under the brand “Singer” & “Merritt”.

Geojit Financial

Geojit financial is a Small Cap company founded by Mr. C. J. George in 1987. Company has presence across India and in the Gulf Cooperation Council countries. They provide a wide array of products and services such as distribution of mutual funds & insurance, equity and derivatives, commodity, PMS and financial planning. Along with traditional offerings, they have a comprehensive portfolio of digital financial products and services for their customers.

Geojit Financials was the first company in India to bring online trading platform for investors. As of June 2021, company had over Rs 56,000 crore Assets Under Management and Custody. In the company, Rakesh Jhunjhunwala holds nearly 7.57% stake which has been constant from a long time.

Shree Digvijay Cement

Established in 1944, Shree Digvijay Cement is a small cap company which started their operations in coastal township of Digvijaygram (Sikka) in Jamnagar District of Gujarat. Today, cement manufacturing capacity of Shree Digvijay stands at 1.20 Million Tons per Annum housing a Fully Automatic Modern Cement Plant. Company employs approximately 300 Employees and have a Gujarat-wide network of over 1,000 Channel Partners selling their Cement under the Brand Name “KAMAL CEMENT”.

Shree Digvijay is amongst the earliest Accredited Company’s awarded with the prestigious license from American Petroleum Institute (API) for the manufacturing of Oil Well Cement. Company is one of the key exporters of Cement and Cement Clinker throughout the world for which they have received the Certificate of Honour of Export House from Hon’ble President of India.

Rajoo Engineers

Established in 1986, Rajoo Engineers Limited (REL) manufactures plastic-extrusion machinery at its plant in Veraval (Shapar), in the district of Rajkot, Gujarat. The promoters of REL have three-decade experience in the plastic-extrusion industry. The company designs and manufactures machines and offers customised solutions as per customers’ requirement.

What are Plastic-extrusion Machinery?

They are the Machines in which raw plastic is melted and formed into a continuous profile. Raw plastic materials goes in and your product comes out and is cut to size. These kind of machines are used by manufacturers of piping, tubing, insulation, or any other plastic composite product.

Plastic extrusion machinery is useful for speeding up workflow and volume. It is great for ensuring consistency through your products, which are made exactly to your specifications every time.

Rajoo’s current product portfolio includes a wide range of extrusion machinery, including mono and multilayer-blown film lines, sheet-extrusion lines, thermoforming machines, non-woven fabric machines, polyvinyl chloride (PVC) pipeline machines, drip-irrigation machines and wooden-plastic composite (WPC) machines, which can process a wide range of polymers. Exports constitute over 60% of its total sales.

Modison Metals

Back in 1975, Mr. G. L. Modi established the first manufacturing facility of Modison Metals in Mumbai (Bombay) for refining of silver and started exporting large quantities of refined silver to renowned bankers and dealers in Europe and U.S.A. Within two years after starting silver refining, the company’s founder realized the vast potential for Electrical Contacts and Contact Materials in switchgear industry and thus facilities were added to manufacture silver and silver alloy wires, plates, strips and solid / bimetal contacts.

Today, Modison has plants at two locations in Western India at Vapi and Silvassa, employing more than 495 people. Company is the only firm globally manufacturing electrical contact materials and finished contacts for Low, Medium, High & Extra High Voltage switchgear industry. Apart from that, company is also involved in the manufacturing and supply of High Performance Copper Alloy products for some of prestigious industries Automotive, Engineering, Railways, Marine, Aerospace & Defence etc.

Grauer & Weil

Grauer & Weil company (also known as Growel) is a small cap company having presence in General Metal Finishing Industry and is a formidable player in the field of Electroplating & Specialty Chemicals and Engineering equipment. In 2005, Growel ventured into real estate development and built a sprawling 475000 square feet Shopping Centre in the Western Suburbs of Mumbai. In 2007, company added Protective Coatings & Industrial Lubricants into its manufacturing capabilities.

Growel’s chemical division offers solutions in Electroplating & Specialty Chemicals, Zinc Flake Coatings, Phosphating & Anodizing Chemicals. These solutions address the surface finishing & protection needs of various sectors including Automobiles, Hardware, Electronics, White Goods, Jewellery, Aeronautics, Railways and Defence.

Growel’s Paint division offers a wide range of tailor made high performance coating solutions ranging from simple applications to advanced painting systems, for industrial, marine, underwater and OEM segments. Company offers a wide range of specialized lubricants and oils in varied industrial applications under the brand name of GRODAL.

Engineering division of company conceptualises, designs, manufactures, and installs a wide range of Surface Finishing Systems tailor-made to meet the specific surface finishing requirements of every industry.

NBCC

NBCC (India) Limited, formerly known as National Buildings Construction Corporation Limited, is a Government of India owned Mid Cap company. With operations spreading across India & Overseas, the Company is organized into three market focused segments : PMC (Project Management Consultancy), EPC (Engineering Procurement & Construction) & RE (Real Estate). Headquartered in Delhi, NBCC holds the status of Navratna CPSE, and has emerged as among the leaders in the Construction Sector.

Jamna Auto

Jamna Auto Industries Limited is the largest manufacturer of Tapered Leaf and Parabolic Springs for Commercial Vehicles (CVs) in India. The Company is fast expanding its presence in new-generation products, like air suspension and lift axle. They have tied up with Ridewell Corporation of USA to bring the latest technology in Air Suspension system to provide world class ride comfort for buses.

Jamna Auto sells springs under the “JAI” brand. The company was first to introduce parabolic springs in India. Their vision is to become a global leader in Automobile Suspension Solutions.

Rubfila

Rubfila manufactures Talcum Coated and Silicon Coated Rubber threads in India. The company has adopted internationally accepted quality standards and its products are well received among customers both in India as well as around the world.

Rubfila also produces premium products catering to highly niche’ areas like toys, fishing, catherers, meat packing, medical webbing, bungee jumping cords etc. The company produces threads with sizes ranging from 2.1mm (12 count) diameter to 0.28 mm (90 count) diameter.

NALCO

National Aluminium Company Limited (NALCO) is a Navratna CPSE under Ministry of Mines and a Mid Cap debt free company. It was established on 7th January, 1981, with its registered office at Bhubaneswar. The Company is a group ‘A’ CPSE, having integrated and diversified operations in mining, metal and power.

NALCO is one of the largest integrated Bauxite-Alumina-Aluminium- Power Complex in the Country. The Company has a 68.25 lakh TPA Bauxite Mine & 21.00 lakh TPA (normative capacity) Alumina Refinery located at Damanjodi in Koraput district of Odisha, and 4.60 lakh TPA Aluminium Smelter & 1200MW Captive Power Plant located at Angul, Odisha.

Globally, NALCO has achieved the distinction of being the lowest cost producer of Bauxite and Alumina as per the latest report of Wood Mackenzie. The Company has also commissioned 198 MW wind power plants and further 25 MW wind power plants are in pipeline, to boost the renewable energy ambitious programmes of Govt. of India.

Ador Fontech

Ador Fontech Ltd. provides products, services and solutions for reclamation and service life improvement of vital machinery components in various industries. The Company manufactures a range of low heat input welding alloys, flux cord welding wires, thermal coating alloy powders and other products.

Their services includes thermal spray technology products and solutions; wear-resistant cast-wear plates; cobalt and nickel based alloys and cast components; welding power sources and systems; arc and resistance welding and plasma cutting equipment; welding fume extraction equipment and systems; liquid gas flux, paste flux, and brazing alloys; bore welding solutions; thermal insulation solutions; and welding spot separation and welder safety products.

The company serves steel and other metallurgical complexes, mining industries, power plants, railways, road transport workshops, sugar mills, cement plants, fertilizer and chemical plants, defense workshops, shipping industries, and other engineering industries, as well as oil drilling, refining, and transportation sector.

Gujarat Pipavav

Gujarat Pipavav Port Limited is engaged in the business of port development and operations at Pipavav Port. The Company’s Port Pipavav is located approximately 150 nautical miles from Nhava Sheva in Mumbai. APM Terminals is the promoter of company which is one of the largest container terminal operators in the world. The services offered includes pilotage/towage, cargo handling and logistics support.

The Company offers cargo handling facilities for container, bulk, break bulk and liquid cargo. It handles a range of bulk and break bulk cargo, such as coal, cement, clinker, fertilizers, steel, iron ore, agri- products, salt and soda ash. In addition, Port Pipavav handles all maritime services in-house, without any third- party operators.

Gujarat Sidhee Cement

Gujarat Sidhee Cement Limited is a part of Mehta Group which is controlled by Jey Mehta, husband of Juhi Chawla. Company manufactures and markets cement under the brand name ‘SIDHEE‘. They have a strong & established brand image and is supported by a wide network of dedicated dealers / distributors.

Majority of the sales volume of the Company is restricted to the state of Gujarat. The Company is largely dependent on a single market and any calamity or other factor which may affect development in Gujarat may also impact the company’s performance. This risk is partially mitigated by selling some volumes in nearby regions and by undertaking exports. Though company is nearly debt free, they have been unable to achieve any solid growth in last 5-10 years.

IRCON

Incorporated in 1976, Indian Railways Construction Company or IRCON is a leading construction company from the Public Sector. IRCON has widespread operation in several states in India and other countries like Malaysia, Nepal, Bangladesh, U.K etc.

Railway and Highway Construction, EHP sub-station (engineering and constructions), and Mass Rapid Transit System (MRTS) are the core business areas of IRCON. Company has so far completed more than 300 Infrastructure projects in India and more than 100 projects across the globe in more than 21 countries.

Taneja Aerospace

Part of the Pune based Indian Seamless group, TAAL was established in 1994 as the first private sector company in the country to manufacture general aviation i.e. non-military aircraft. The company’s vision at the time was to create a nucleus facility for the development of an aeronautical industry in India and in particular to promote affordable general aviation in the country. To kick-off this process, TAAL entered into a collaboration with Partenavia of Italy to manufacture the six-seat twin piston-engine P68C aircraft and the eleven-seat twin turbo-prop Viator aircraft.

While manufacturing of Light Transport and Trainer Aircraft continues to be in TAAL’s capability, the company has since diversified its activities and has established a significant presence in many segments of the aviation and aeronautical industries in India.

TAAL is into all Aviation related business activities namely, Aircraft Manufacturing & Maintenance Centre and Aviation Infrastructure – Airfield & MRO.

Indag Rubber

INDAG Rubber Ltd. was founded in 1978 by Khemka group in joint venture with M/S Bandag, USA. The company was established with the purpose to provide fleet owners with world-class retreading solutions. They are dedicated to helping fleet owners reduce their expenses on buying new tyres providing lower tyre CPKM (Cost-per-Km) and curtailing carbon footprints making them a sustainable and green fleet.

What is Retreading?

Retreading represents a niche industry in India, primarily known to fleet owners and operators dealing with commercial tyres. It is a green and sustainable alternative to new tyres.

After a vehicle has covered certain kilometres, the top surface of a tyre called tread wears out, leaving you with two choices – either go for a new tyre or replace it with a new tread thus renewing the old worn tyre.

Owing to the nature of its process, retreaded tyres is known by many names in the market, such as remolded tyres, resoled tyres, renewed tyres, etc.

Retreading costs only a fraction of the new tyre cost (as low as 30%) and reduces the new tyre expenses significantly, improving the margins of fleet owners. Retreading gives as good mileage as a new tyre. Another benefit of this process includes lesser carbon footprints.

AIRAN Limited

Founded by Sandeep kumar Agrawal, AIRAN Limited is an Indian based company, engaged in business of Information technology (IT) and Information Technology Enabled Services (ITES). The company offers services in areas like banking transaction processing, document management for telecommunication companies, Internet services provider, payment banks and records management.

Beside of above services, they also offers cash management services (CMS), door step banking and pickup services, check truncation system (CTS) clearing processing, managing collection counters, account forms processing-banking, opening certificate or e-registration fee collection, address e-stamping verification and credit verification, contact center services, back office management and software development services to its clients.

Saint-Gobain Sekurit

Saint-Gobain Sekurit is a part of French based Saint-Gobain Group. Grindwell Norton is another listed company that is controlled by Saint-Gobain of French. The Company is engaged in the manufacture and sale of automotive glass. They are in the business of processing of glasses to manufacture windshields, door glasses, and backlites.

Geographically, it operates only in India. It generates revenue from the sale of Laminated Safety Glass and Tempered Glass. The company offers a range of windshields, tempered glasses and tempered backlites for passenger cars, utility vehicles, commercial vehicles, and three wheelers.

Allied Digital

Incorporated in 1984, Allied Digital Services Limited is a Small Cap and nearly debt free company, engaged in IT Consulting and related Services business. Headquartered in Mumbai (Maharashtra), company is a global Managed Service Provider and Systems Integrator, offering a vast spectrum of infrastructure solutions and services to clients across 70 countries.

Nitish Shah is the Founder Chairman of Allied Digital. With a strong global workforce of more than 2000 professionals, company has a strong client base and offers services to several Fortune 500 companies.

Service portfolio of Allied Digital ranges from Digital Workspace Services, Digital Enterprise Infrastructure Transformative Solutions, Cybersecurity Services, Cloud Service and Support, to multi-lingual, multi-channel Service- Desks.

So, that was some business details of the Top Low Price Debt Free Stocks that would help you to discover what does a particular company do and how they earn money. Some of them were Mid Cap companies while most of the stocks were Small Cap debt free category shares.

Now, before we move towards our FAQ part for this article, let’s first understand what kind of debt free companies have been mentioned in the article which we had left unfinished in the initial part of this article.

What kind of Debt Free Stocks have been selected?

From the word Debt free, it generally means company has no debt on its books and therefore, may not have any high interest expenses and external funding. When the company is not able to timely pay interest expenses on debt due to insufficient profits, it can lead the firm into serious risk.

Therefore, those companies having no debt are able to gather better demand in stock market as these kind of businesses are less risky than those where debt is high.

However, on a regular interval of time, when the company has no significant cash and requires urgent money for some project or any other thing, it may opt to take some loans (debt). They will not hold that debt for long. But time to time, urgent financing needs are always there in business which could be only fulfilled by taking some loans.

So, debt levels of even those companies who are focused to remain debt free may remain in little bit up and down situation. Thus, if we look at only zero debt companies where debt is 0 and not even 1 crore higher than this number, we could miss a lot of good companies which are almost debt free and occasionally keeps taking debt for urgent needs.

Considering these facts, those companies have been added in the List of Debt Free Shares whose Debt to Equity ratio is below 0.2. Ratio of 0.2 means debt on the company is below 20% of Shareholders Equity, that can be considered quite low.

Now, let’s move forward to our FAQ part of this article. These questions might come to your mind before investing in any stock mentioned here.

Are Debt Free companies better for Investment Purpose?

As the risk of business failure in Debt Free stocks is low, it can be said that these type of stocks are generally better than others. However, as the risk is low in them, these kind of companies are generally in good demand in share market. Due to this, share prices of such companies could be trading quite high. So, it is important to look at this thing before buying a Debt-Free share.

In our list of Debt Free stocks under ₹100, most of the stocks are available at affordable or low prices.

Should we directly Buy the stocks mentioned in the List?

A well research has been done on every company before mentioning any stock name in the list of Debt Free Shares here. However, it is possible that we could have missed some facts during our research. Few stocks also have slow growth rate. So, it will be a good thing if you analyse the stocks through your end too before you invest money in any of the stocks mentioned here.

What are the Best MNC Debt Free Stocks under ₹100?

In our list of Best Debt Free stocks under 100, there are some MNC stocks that could be a great bet. These companies are owned by MNC  Groups that operates in multiple nations. We are separately adding the names of such companies from the list here so that you wouldn’t be required to find this thing.

• Gujarat Pipavav (Part of Netherlands based APM Terminals)
• Saint-Gobain Sekurit (Part of France based Saint-Gobain)
• Singer India (Part of America based Singer Corporation)

Debt Free Small Cap stocks under ₹100

In our list of zero debt companies, many companies are smallcap stocks. Generally, we consider those stocks as smallcap stock whose Market Capital lies between Rs 1000 to 5000 crore. So, here are the names of top debt free companies under ₹100 that are smallcap stocks

• Engineers India
• Manali Petrochemicals
• Geojit Financial
• Shree Digvijay Cement
• Grauer & Weil
• Jamna Auto
• Gujarat Pipavav
• IRCON

Debt Free Micro cap Stocks under ₹100

Many good Microcap stocks trades under Rs 100 in India. Plus, they are almost debt free. Generally, we assume those stocks as micro cap stocks that have a Market Capitalisation from Rs 100 crore to Rs 1000 crore. Stocks having market capital below Rs 100 crore can be considered as nano cap stocks.

So, here the names of Debt free Microcap stocks available under ₹100 in India

• Singer India
• Rajoo Engineers
• Modison Metals
• Rubfila International
• Ador Fontech
• Gujarat Sidhee Cement
• Taneja Aerospace
• Indag Rubber
• Airan
• Saint-Gobain Sekurit
• Allied Digital Services

That is the end of this article.

Hope it helps you to discover some good Low Price Debt Free Stocks under ₹100 for your portfolio.

Good Luck : )