Top 10 Debt-Free Stocks Under ₹500 in India — Top 100 List

Of the 1,652 companies priced under ₹500 in India on PositoAI, 135 report no debt (banks and lenders left out). First on the list is Blue Pebble Limited (Positivity Score 26,480). 99 of them have lease obligations (offices, buildings and similar) but no borrowings; the rest have neither. None of the top 10 has an active red or yellow flag.

A low share price does not make a stock cheap: what matters is the company's value compared with its earnings and assets (P/E, P/B). Very low-priced stocks are often small, thinly traded and more volatile. Prices are the last close.

Switch country

Positivity Score High dividend Debt free Low debt Low PE Below book value High ROE High ROE + low PE No red flags No red or yellow flags Fundamentally strong Near 52-week low Near 52-week high High score near 52-week low High score near 52-week high

#	Company	Score	Price	Market Cap (INR Cr)	P/E	P/B	Owes vs Owns	Leases	ROE	Div Yield	Flag	Sector
1	Blue Pebble LimitedBLUEPEBBLE	26,480	₹60.80	₹24	221.9	0.90	0.23×	None	—	—	—	—
2	Coral India Finance and Housing LimitedCORALFINAC	25,756	₹27.61	₹111	7.7	0.54	0.07×	None	6.9%	0.65%	—	Real Estate
3	Rajnish Retail LimitedRRETAIL	25,728	₹1.86	₹29	93.0	0.40	0.08×	None	0.4%	0	—	Consumer Cyclical
4	Route Mobile LimitedROUTE	25,699	₹428.10	₹2,697	10.9	0.97	0.21×	₹42 Cr	9.0%	1.92%	—	Communication Services
5	Mindteck (India) LimitedMINDTECK	25,617	₹133.37	₹426	13.7	1.40	0.18×	₹4 Cr	10.2%	0.72%	—	Technology
6	Emkay Taps and Cutting Tools LimitedEMKAYTOOLS	25,615	₹98.40	₹105	12.4	0.35	0.01×	None	—	—	—	—
7	Jai Corp LimitedJAICORPLTD	25,608	₹96.15	₹1,687	10.0	1.13	0.03×	₹0 Cr	11.3%	0.58%	—	Basic Materials
8	Mysore Petro Chemicals LimitedMYSORPETRO	25,474	₹118.80	—	7.3	0.35	0.24×	₹0 Cr	4.8%	1.68%	—	Basic Materials
9	Par Drugs and Chemicals LimitedPAR	25,446	₹104.60	₹128	9.8	1.15	0.13×	None	11.8%	0	—	Healthcare
10	Eureka Forbes LimitedEUREKAFORB	25,423	₹316.80	₹6,135	34.1	1.33	0.32×	₹29 Cr	3.9%	0	—	Consumer Cyclical
Top 20
11	Infollion Research Services LimitedINFOLLION	25,194	₹147.45	₹142	20.7	2.32	0.10×	None	—	—	—	—
12	Majestic Auto LimitedMAJESAUT	25,060	₹363.05	₹377	3.9	0.56	0.04×	₹15 Cr	14.5%	13.71%	—	Real Estate
13	Shipping Corporation of India Land and Assets LimitedSCILAL	24,969	₹35.70	₹1,662	58.5	0.55	0.15×	₹0 Cr	0.8%	1.49%	—	Real Estate
14	Saraswati Saree Depot LimitedSSDL	24,947	₹59.85	₹237	10.0	1.22	0.32×	₹1 Cr	12.6%	4.49%	—	Consumer Cyclical
15	MOIL LimitedMOIL	24,909	₹220.75	₹4,491	14.8	1.66	0.15×	None	11.2%	6.01%	—	Basic Materials
16	Sreeleathers LimitedSREEL	24,890	₹275.60	₹638	19.2	1.28	0.06×	₹2 Cr	6.7%	0.72%	—	Consumer Cyclical
17	Excelsoft Technologies LimitedEXCELSOFT	24,856	₹77.28	₹889	17.5	1.54	0.15×	₹7 Cr	8.8%	0	—	Technology
18	R K Swamy LimitedRKSWAMY	24,786	₹81.39	₹410	18.1	1.55	0.38×	₹43 Cr	8.6%	2.29%	—	Communication Services
19	HeidelbergCement India LimitedHEIDELBERG	24,751	₹122.98	₹2,786	23.9	2.03	0.44×	₹14 Cr	8.5%	5.63%	—	Basic Materials
20	Rubfila International LimitedRUBFILA	24,719	₹54.04	₹293	11.1	0.93	0.17×	₹1 Cr	8.4%	3.23%	—	Basic Materials
Top 50
21	Federal-Mogul Goetze (India) LimitedFMGOETZE	24,694	₹440.70	₹2,451	14.4	1.71	0.25×	₹1 Cr	11.9%	3.38%	—	Consumer Cyclical
22	Cravatex LimitedCRAVATEX	24,593	₹330.00	₹85	9.9	0.71	0.18×	₹2 Cr	7.2%	3.76%	—	Consumer Cyclical
23	Hindustan Composites LimitedHINDCOMPOS	24,553	₹392.60	₹579	22.7	0.51	0.09×	₹2 Cr	2.2%	0.47%	⚑	Consumer Cyclical
24	Go Fashion (India) LimitedGOCOLORS	24,496	₹264.70	₹1,392	26.5	2.02	0.47×	₹532 Cr	7.8%	0	—	Consumer Cyclical
25	MMTC LimitedMMTC	24,415	₹52.06	₹7,809	17.5	3.68	0.24×	₹2 Cr	21.1%	0	—	Industrials
26	Addi Industries LimitedADDIND	24,389	₹76.47	₹82	34.0	1.01	0.03×	None	2.9%	0	—	Consumer Cyclical
27	Credo Brands Marketing LimitedMUFTI	24,359	₹65.34	₹427	9.8	0.97	0.45×	₹228 Cr	9.9%	2.92%	—	Consumer Cyclical
28	Smartlink Holdings LimitedSMARTLINK	24,315	₹215.32	₹214	13.0	1.02	0.31×	₹3 Cr	7.9%	0.78%	—	Technology
29	Tainwala Chemicals and Plastics (India) LimitedTAINWALCHM	24,275	₹199.61	₹186	23.3	1.09	0.08×	None	4.7%	1.37%	—	Basic Materials
30	CCME Global LimitedCCME	24,237	₹31.81	₹143	Loss	3.59	0.12×	None	-1.7%	0	—	Healthcare
31	Shilp Gravures LimitedSHILGRAVQ	24,146	₹138.88	₹85	12.9	0.81	0.13×	₹0 Cr	6.4%	1.47%	—	Industrials
32	RailTel Corporation of India LimitedRAILTEL	24,140	₹237.55	₹7,623	22.0	3.37	0.61×	₹64 Cr	16.2%	1.31%	—	Communication Services
33	JSW Dulux LimitedJSWDULUX	24,100	₹302.20	₹1,376	0.7	0.56	0.35×	₹79 Cr	80.0%	1.66%	—	Basic Materials
34	Vardhman Acrylics LimitedVARDHACRLC	24,052	₹41.60	₹334	4.1	1.32	0.26×	₹0 Cr	32.1%	3.52%	—	Consumer Cyclical
35	FDC LimitedFDC	24,052	₹340.45	₹5,542	18.9	2.23	0.15×	₹15 Cr	11.8%	2.91%	—	Healthcare
36	K&R Rail Engineering LimitedKRRAIL	24,007	₹15.23	₹63	Loss	0.76	0.42×	None	-18.1%	0	—	Industrials
37	InfoBeans Technologies LimitedINFOBEAN	23,966	₹156.31	₹1,515	17.9	3.66	0.15×	₹15 Cr	20.5%	0.32%	—	Technology
38	Seshasayee Paper and Boards LimitedSESHAPAPER	23,922	₹204.16	₹1,287	12.4	0.63	0.18×	None	4.8%	0.90%	—	Basic Materials
39	Newgen Software Technologies LimitedNEWGEN	23,919	₹475.80	₹6,725	21.6	3.78	0.27×	₹39 Cr	17.5%	1.34%	—	Technology
40	Likhitha Infrastructure LimitedLIKHITHA	23,862	₹212.39	₹837	25.7	2.03	0.11×	₹0 Cr	8.0%	0	—	Energy
41	EIH Associated Hotels LimitedEIHAHOTELS	23,861	₹287.95	₹1,754	20.0	2.91	0.17×	₹4 Cr	14.6%	1.20%	—	Consumer Cyclical
42	Relaxo Footwears LimitedRELAXO	23,859	₹291.35	₹7,252	39.1	3.29	0.25×	₹233 Cr	8.4%	1.22%	—	Consumer Cyclical
43	Jocil LimitedJOCIL	23,853	₹141.42	₹125	15.2	0.59	0.29×	None	3.9%	2.43%	—	Basic Materials
44	Orosil Smiths India LimitedOROSMITHS	23,822	₹6.31	₹26	1.1	1.03	0.15×	₹0 Cr	104.0%	0	—	Consumer Cyclical
45	Quick Heal Technologies LimitedQUICKHEAL	23,815	₹141.10	₹765	Loss	1.75	0.20×	₹0 Cr	-2.5%	0	—	Technology
46	Anuh Pharma LimitedANUHPHR	23,768	₹78.87	₹790	17.9	2.24	0.37×	₹0 Cr	12.6%	1.83%	—	Healthcare
47	Aptech LimitedAPTECHT	23,724	₹81.06	₹470	19.2	1.89	0.42×	₹13 Cr	9.8%	5.30%	—	Consumer Defensive
48	Indraprastha Medical Corporation LimitedINDRAMEDCO	23,699	₹305.60	₹2,801	14.9	3.78	0.25×	₹37 Cr	25.4%	1.22%	—	Healthcare
49	Jyothy Labs LimitedJYOTHYLAB	23,681	₹177.37	₹6,513	22.9	4.10	0.29×	₹52 Cr	17.9%	1.85%	—	Consumer Defensive
50	Brightcom Group LimitedBCG	23,653	₹8.75	₹1,766	1.7	0.17	0.12×	None	9.6%	0	⚑	Communication Services
Top 100
51	Kanchi Karpooram LimitedKANCHI	23,593	₹375.30	₹163	21.3	0.76	0.05×	₹0 Cr	3.6%	0.27%	—	Basic Materials
52	NIIT LimitedNIITLTD	23,544	₹77.79	₹1,065	121.5	1.00	0.15×	₹7 Cr	0.8%	1.22%	—	Consumer Defensive
53	CG-VAK Software and Exports LimitedCGVAK	23,501	₹137.36	₹69	8.0	0.84	0.12×	₹2 Cr	9.3%	0.77%	—	Technology
54	Rajdarshan Industries LimitedARENTERP	23,500	₹32.20	₹10	Loss	0.49	0.01×	None	-0.3%	0	—	Basic Materials
55	Shekhawati Industries LimitedSHEKHAWATI	23,462	₹22.00	₹75	6.1	3.45	0.31×	₹1 Cr	56.1%	0	—	Consumer Cyclical
56	RITES LimitedRITES	23,330	₹196.09	₹9,424	22.6	3.51	0.53×	₹7 Cr	15.6%	5.54%	—	Industrials
57	DRC Systems India LimitedDRCSYSTEMS	23,281	₹11.34	₹163	7.7	1.45	0.27×	₹0 Cr	18.9%	0	—	Technology
58	Entertainment Network (India) LimitedENIL	23,276	₹86.94	₹414	Loss	0.55	0.37×	₹171 Cr	-1.1%	2.22%	—	Communication Services
59	Country Condo's LimitedCOUNCODOS	23,136	₹6.27	₹48	78.4	1.89	0.43×	None	2.8%	0	—	Real Estate
60	Sinclairs Hotels LimitedSINCLAIR	23,088	₹72.31	₹370	34.4	3.06	0.28×	₹34 Cr	9.3%	1.07%	—	Consumer Cyclical
61	Vakrangee LimitedVAKRANGEE	23,079	₹5.43	₹588	77.6	3.22	0.38×	₹4 Cr	3.3%	0	—	Technology
62	Central Mine Planning & Design Institute LimitedCMPDI	23,056	₹190.08	—	20.8	5.95	0.30×	₹1 Cr	28.6%	0.56%	—	Basic Materials
63	Container Corporation of India LimitedCONCOR	23,031	₹424.60	₹32,338	25.9	2.50	0.14×	₹940 Cr	9.6%	1.95%	—	Industrials
64	Laxmi Dental LimitedLAXMIDENTL	23,027	₹176.69	₹972	31.3	4.00	0.17×	₹13 Cr	12.8%	0	—	Healthcare
65	Shaival Reality LimitedSHAIVAL	23,022	₹33.00	₹38	6.1	1.75	0.05×	None	—	—	—	—
66	Pearl Polymers LimitedPEARLPOLY	23,011	₹16.33	₹27	Loss	0.95	0.20×	None	-18.4%	0	—	Consumer Cyclical
67	NOCIL LimitedNOCIL	22,966	₹152.93	₹2,554	38.7	1.44	0.16×	₹8 Cr	3.7%	0.91%	—	Basic Materials
68	D-Link (India) LimitedDLINKINDIA	22,958	₹399.55	₹1,418	13.2	2.81	0.38×	₹15 Cr	21.2%	6.29%	—	Technology
69	Speciality Restaurants LimitedSPECIALITY	22,937	₹126.97	₹612	26.1	1.77	0.36×	₹140 Cr	6.8%	0.69%	—	Consumer Cyclical
70	Star Paper Mills LimitedSTARPAPER	22,785	₹150.81	₹233	7.6	0.33	0.15×	₹4 Cr	4.3%	1.70%	⚑	Basic Materials
71	Surani Steel Tubes LimitedSURANI	22,770	₹120.55	₹187	247.6	1.51	0.51×	None	—	—	—	—
72	Mazda LimitedMAZDA	22,743	₹269.90	₹540	18.1	2.17	0.21×	None	10.1%	1.43%	—	Industrials
73	Vesuvius India LimitedVESUVIUS	22,734	₹388.55	₹7,886	30.0	4.51	0.21×	₹14 Cr	15.1%	0.38%	—	Industrials
74	Gujarat Intrux LimitedGUJINTRX	22,721	₹430.25	₹147	14.1	2.25	0.09×	None	16.2%	5.86%	—	Basic Materials
75	Kamdhenu LimitedKAMDHENU	22,654	₹35.15	₹990	11.8	2.50	0.12×	₹9 Cr	21.2%	1.10%	—	Basic Materials
76	Amrutanjan Health Care LimitedAMRUTANJAN	22,621	₹497.00	₹1,436	26.6	3.88	0.27×	₹2 Cr	14.6%	1.47%	—	Healthcare
77	CMS Info Systems LimitedCMSINFO	22,620	₹204.01	₹3,265	11.5	1.34	0.25×	₹221 Cr	12.0%	2.34%	—	Industrials
78	Cineline India LimitedCINELINE	22,540	₹89.43	₹340	24.8	2.20	0.54×	₹121 Cr	8.0%	1.37%	—	Communication Services
79	DCX Systems LimitedDCXINDIA	22,535	₹139.21	₹1,550	Loss	1.02	0.28×	₹3 Cr	-1.2%	0	—	Industrials
80	Rolex Rings LimitedROLEXRINGS	22,516	₹154.08	₹4,042	37.4	3.33	0.11×	None	9.2%	0	—	Industrials
81	NBCC (India) LimitedNBCC	22,489	₹70.50	₹19,035	25.7	6.31	0.80×	₹0 Cr	24.6%	1.26%	—	Industrials
82	Petronet LNG LimitedPETRONET	22,459	₹290.40	₹43,560	10.3	1.95	0.19×	₹2,341 Cr	18.9%	3.43%	—	Energy
83	Elecon Engineering Company LimitedELECON	22,420	₹428.95	₹9,625	40.7	4.17	0.29×	₹273 Cr	10.2%	0.48%	—	Industrials
84	Medi Assist Healthcare Services LimitedMEDIASSIST	22,306	₹288.60	₹2,155	22.8	2.57	0.38×	₹54 Cr	11.0%	0.66%	—	Healthcare
85	Wakefit Innovations LimitedWAKEFIT	22,266	₹133.99	₹4,443	22.8	3.93	0.35×	₹272 Cr	17.1%	0	—	Consumer Cyclical
86	Standard Industries LimitedSIL	22,243	₹17.99	₹115	1.9	1.01	0.40×	₹4 Cr	53.8%	3.22%	—	Consumer Cyclical
87	Mold-Tek Technologies LimitedMOLDTECH	22,237	₹88.80	₹511	27.8	3.99	0.26×	₹5 Cr	7.1%	0.91%	—	Industrials
88	BLS E-Services LimitedBLSE	22,231	₹140.85	₹2,553	44.0	4.89	0.25×	₹6 Cr	11.2%	0.33%	—	Industrials
89	Blue Jet Healthcare LimitedBLUEJET	22,207	₹487.70	₹8,459	36.0	6.22	0.17×	₹42 Cr	17.3%	0.23%	—	Healthcare
90	Praj Industries LimitedPRAJIND	22,198	₹257.85	₹4,739	157.2	3.62	0.57×	₹173 Cr	2.3%	1.26%	—	Industrials
91	Vedant Fashions LimitedMANYAVAR	22,195	₹490.05	₹11,907	30.9	6.06	0.31×	₹458 Cr	19.6%	1.55%	—	Consumer Cyclical
92	Jagsonpal Pharmaceuticals LimitedJAGSNPHARM	22,193	₹210.86	₹1,392	31.4	5.04	0.13×	₹8 Cr	17.0%	1.11%	—	Healthcare
93	Ashapuri Gold Ornament LimitedAGOL	22,166	₹7.45	₹248	12.0	1.49	0.04×	None	12.4%	0	—	Consumer Cyclical
94	Unicommerce eSolutions LimitedUNIECOM	22,161	₹79.64	₹894	44.5	4.64	0.29×	₹9 Cr	10.9%	0	—	Technology
95	TAKE LIMITEDTAKE	22,112	₹11.50	₹168	29.5	5.42	0.14×	None	18.9%	0	—	Healthcare
96	Gujarat Pipavav Port LimitedGPPL	22,088	₹160.72	₹7,769	13.9	3.25	0.21×	₹37 Cr	23.7%	5.96%	—	Industrials
97	Quess Corp LimitedQUESS	22,070	₹315.45	₹4,712	18.7	4.04	0.62×	₹124 Cr	21.6%	1.87%	—	Industrials
98	Vivo Collaboration Solutions LimitedVIVO	22,046	₹150.00	₹30	—	2.63	0.06×	None	—	—	—	—
99	Allcargo Terminals LimitedATL	21,952	₹25.37	₹639	17.4	1.81	0.72×	₹769 Cr	12.1%	0	—	Industrials
100	Cresto Techno LimitedCRESTO	21,909	₹18.70	₹19	Loss	1.59	0.18×	None	-20.3%	0	—	Communication Services

Debt free in other groups · India

Under ₹50 Under ₹100 Under ₹500

Debt free in other countries

United States

Questions

Which companies priced under ₹500 in India have no debt?

The first five on PositoAI's list are Blue Pebble Limited (26,480), Coral India Finance and Housing Limited (25,756), Rajnish Retail Limited (25,728), Route Mobile Limited (25,699), Mindteck (India) Limited (25,617).

How many companies priced under ₹500 in India report no debt?

135 of the 1,652 companies priced under ₹500 in India on PositoAI report no debt (banks and lenders left out); this page shows the top 100.

How is this list made?

Is a low share price a good sign?

Are lease obligations counted as debt on this list?

No. Many companies rent offices, buildings or equipment on long leases, and accounts show those payments as lease obligations. This list counts only borrowings, so a company with leases but no loans is debt free here. Each company's lease amount is shown in the Leases column.

Companies whose latest annual balance sheet shows no borrowings, ordered by Positivity Score. Lease obligations (for offices, buildings and similar) are not counted as borrowing; they are shown in the Leases column. Banks and lenders are left out, because borrowing is part of their business. Score is the Positivity Score; Owes vs Owns is everything a company owes compared with everything it owns (what each figure means); ⚑ marks an active red or yellow flag. All low price lists for India. PositoAI is for research and education only and is not investment advice.