Top 10 Debt-Free Micro Cap Stocks (₹100 Cr to ₹1,000 Cr) in India — Top 50 List
PosiCap · PositoAI classification
Of the 652 micro cap companies in India on PositoAI, 54 report no debt (banks and lenders left out). First on the list is Coral India Finance and Housing Limited (Positivity Score 25,756). 37 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.
Micro Cap is one of PosiCap, PositoAI's own size classes: companies with a market value ₹100 Cr to ₹1,000 Cr (about $11M to $106M). It is not the SEBI or index definition. About PosiCap
| # | Company | Score | Market Cap (INR Cr) |
P/E | P/B | Owes vs Owns |
Leases | ROE | Div Yield |
Flag | Sector |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Coral India Finance and Housing LimitedCORALFINAC | 25,756 | ₹111 | 7.7 | 0.54 | 0.07× | None | 6.9% | 0.65% | — | Real Estate |
| 2 | Mindteck (India) LimitedMINDTECK | 25,617 | ₹426 | 13.7 | 1.40 | 0.18× | ₹4 Cr | 10.2% | 0.72% | — | Technology |
| 3 | Emkay Taps and Cutting Tools LimitedEMKAYTOOLS | 25,615 | ₹105 | 12.4 | 0.35 | 0.01× | None | — | — | — | — |
| 4 | Par Drugs and Chemicals LimitedPAR | 25,446 | ₹128 | 9.8 | 1.15 | 0.13× | None | 11.8% | 0 | — | Healthcare |
| 5 | Infollion Research Services LimitedINFOLLION | 25,194 | ₹142 | 20.7 | 2.32 | 0.10× | None | — | — | — | — |
| 6 | Majestic Auto LimitedMAJESAUT | 25,060 | ₹377 | 3.9 | 0.56 | 0.04× | ₹15 Cr | 14.5% | 13.71% | — | Real Estate |
| 7 | Alfred Herbert (India) LimitedALFREDHE | 25,015 | ₹208 | 5.7 | 0.36 | 0.02× | ₹0 Cr | 6.4% | 0.75% | — | Industrials |
| 8 | Saraswati Saree Depot LimitedSSDL | 24,947 | ₹237 | 10.0 | 1.22 | 0.32× | ₹1 Cr | 12.6% | 4.49% | — | Consumer Cyclical |
| 9 | Sreeleathers LimitedSREEL | 24,890 | ₹638 | 19.2 | 1.28 | 0.06× | ₹2 Cr | 6.7% | 0.72% | — | Consumer Cyclical |
| 10 | Excelsoft Technologies LimitedEXCELSOFT | 24,856 | ₹889 | 17.5 | 1.54 | 0.15× | ₹7 Cr | 8.8% | 0 | — | Technology |
Top 20 | |||||||||||
| 11 | R K Swamy LimitedRKSWAMY | 24,786 | ₹410 | 18.1 | 1.55 | 0.38× | ₹43 Cr | 8.6% | 2.29% | — | Communication Services |
| 12 | Rubfila International LimitedRUBFILA | 24,719 | ₹293 | 11.1 | 0.93 | 0.17× | ₹1 Cr | 8.4% | 3.23% | — | Basic Materials |
| 13 | Hindustan Composites LimitedHINDCOMPOS | 24,553 | ₹579 | 22.7 | 0.51 | 0.09× | ₹2 Cr | 2.2% | 0.47% | ⚑ | Consumer Cyclical |
| 14 | Credo Brands Marketing LimitedMUFTI | 24,359 | ₹427 | 9.8 | 0.97 | 0.45× | ₹228 Cr | 9.9% | 2.92% | — | Consumer Cyclical |
| 15 | Smartlink Holdings LimitedSMARTLINK | 24,315 | ₹214 | 13.0 | 1.02 | 0.31× | ₹3 Cr | 7.9% | 0.78% | — | Technology |
| 16 | Tainwala Chemicals and Plastics (India) LimitedTAINWALCHM | 24,275 | ₹186 | 23.3 | 1.09 | 0.08× | None | 4.7% | 1.37% | — | Basic Materials |
| 17 | CCME Global LimitedCCME | 24,237 | ₹143 | Loss | 3.59 | 0.12× | None | -1.7% | 0 | — | Healthcare |
| 18 | Voith Paper Fabrics India LimitedVOITHPAPR | 24,178 | ₹604 | 14.6 | 1.43 | 0.10× | ₹0 Cr | 9.8% | 0.73% | — | Basic Materials |
| 19 | DIC India LimitedDICIND | 24,121 | ₹513 | 17.8 | 1.16 | 0.40× | ₹4 Cr | 6.5% | 0.51% | — | Basic Materials |
| 20 | Vardhman Acrylics LimitedVARDHACRLC | 24,052 | ₹334 | 4.1 | 1.32 | 0.26× | ₹0 Cr | 32.1% | 3.52% | — | Consumer Cyclical |
Top 50 | |||||||||||
| 21 | Likhitha Infrastructure LimitedLIKHITHA | 23,862 | ₹837 | 25.7 | 2.03 | 0.11× | ₹0 Cr | 8.0% | 0 | — | Energy |
| 22 | Jocil LimitedJOCIL | 23,853 | ₹125 | 15.2 | 0.59 | 0.29× | None | 3.9% | 2.43% | — | Basic Materials |
| 23 | Quick Heal Technologies LimitedQUICKHEAL | 23,815 | ₹765 | Loss | 1.75 | 0.20× | ₹0 Cr | -2.5% | 0 | — | Technology |
| 24 | Ambika Cotton Mills LimitedAMBIKCO | 23,777 | ₹837 | 10.3 | 0.88 | 0.14× | None | 8.5% | 2.51% | — | Consumer Cyclical |
| 25 | Anuh Pharma LimitedANUHPHR | 23,768 | ₹790 | 17.9 | 2.24 | 0.37× | ₹0 Cr | 12.6% | 1.83% | — | Healthcare |
| 26 | Aptech LimitedAPTECHT | 23,724 | ₹470 | 19.2 | 1.89 | 0.42× | ₹13 Cr | 9.8% | 5.30% | — | Consumer Defensive |
| 27 | Kanchi Karpooram LimitedKANCHI | 23,593 | ₹163 | 21.3 | 0.76 | 0.05× | ₹0 Cr | 3.6% | 0.27% | — | Basic Materials |
| 28 | DRC Systems India LimitedDRCSYSTEMS | 23,281 | ₹163 | 7.7 | 1.45 | 0.27× | ₹0 Cr | 18.9% | 0 | — | Technology |
| 29 | Entertainment Network (India) LimitedENIL | 23,276 | ₹414 | Loss | 0.55 | 0.37× | ₹171 Cr | -1.1% | 2.22% | — | Communication Services |
| 30 | Gandhi Special Tubes LimitedGANDHITUBE | 23,167 | ₹977 | 14.1 | 3.09 | 0.07× | ₹0 Cr | 23.6% | 1.58% | — | Industrials |
| 31 | Sinclairs Hotels LimitedSINCLAIR | 23,088 | ₹370 | 34.4 | 3.06 | 0.28× | ₹34 Cr | 9.3% | 1.07% | — | Consumer Cyclical |
| 32 | Vakrangee LimitedVAKRANGEE | 23,079 | ₹588 | 77.6 | 3.22 | 0.38× | ₹4 Cr | 3.3% | 0 | — | Technology |
| 33 | Laxmi Dental LimitedLAXMIDENTL | 23,027 | ₹972 | 31.3 | 4.00 | 0.17× | ₹13 Cr | 12.8% | 0 | — | Healthcare |
| 34 | Speciality Restaurants LimitedSPECIALITY | 22,937 | ₹612 | 26.1 | 1.77 | 0.36× | ₹140 Cr | 6.8% | 0.69% | — | Consumer Cyclical |
| 35 | Jenburkt Pharmaceuticals LimitedJENBURPH | 22,807 | ₹384 | 11.7 | 1.95 | 0.13× | ₹2 Cr | 16.7% | 2.25% | — | Healthcare |
| 36 | Star Paper Mills LimitedSTARPAPER | 22,785 | ₹233 | 7.6 | 0.33 | 0.15× | ₹4 Cr | 4.3% | 1.70% | ⚑ | Basic Materials |
| 37 | Surani Steel Tubes LimitedSURANI | 22,770 | ₹187 | 247.6 | 1.51 | 0.51× | None | — | — | — | — |
| 38 | Mazda LimitedMAZDA | 22,743 | ₹540 | 18.1 | 2.17 | 0.21× | None | 10.1% | 1.43% | — | Industrials |
| 39 | Gujarat Intrux LimitedGUJINTRX | 22,721 | ₹147 | 14.1 | 2.25 | 0.09× | None | 16.2% | 5.86% | — | Basic Materials |
| 40 | Kamdhenu LimitedKAMDHENU | 22,654 | ₹990 | 11.8 | 2.50 | 0.12× | ₹9 Cr | 21.2% | 1.10% | — | Basic Materials |
| 41 | GKW LimitedGKWLIMITED | 22,634 | ₹928 | Loss | 0.35 | 0.19× | ₹0 Cr | -0.2% | 0 | — | Industrials |
| 42 | Cineline India LimitedCINELINE | 22,540 | ₹340 | 24.8 | 2.20 | 0.54× | ₹121 Cr | 8.0% | 1.37% | — | Communication Services |
| 43 | Standard Industries LimitedSIL | 22,243 | ₹115 | 1.9 | 1.01 | 0.40× | ₹4 Cr | 53.8% | 3.22% | — | Consumer Cyclical |
| 44 | Mold-Tek Technologies LimitedMOLDTECH | 22,237 | ₹511 | 27.8 | 3.99 | 0.26× | ₹5 Cr | 7.1% | 0.91% | — | Industrials |
| 45 | Ashapuri Gold Ornament LimitedAGOL | 22,166 | ₹248 | 12.0 | 1.49 | 0.04× | None | 12.4% | 0 | — | Consumer Cyclical |
| 46 | Unicommerce eSolutions LimitedUNIECOM | 22,161 | ₹894 | 44.5 | 4.64 | 0.29× | ₹9 Cr | 10.9% | 0 | — | Technology |
| 47 | TAKE LIMITEDTAKE | 22,112 | ₹168 | 29.5 | 5.42 | 0.14× | None | 18.9% | 0 | — | Healthcare |
| 48 | Jyoti Resins and Adhesives LimitedJYOTIRES | 22,007 | ₹978 | 15.1 | 3.39 | 0.32× | None | 22.1% | 1.07% | — | Basic Materials |
| 49 | Allcargo Terminals LimitedATL | 21,952 | ₹639 | 17.4 | 1.81 | 0.72× | ₹769 Cr | 12.1% | 0 | — | Industrials |
| 50 | Subex LimitedSUBEXLTD | 20,752 | ₹948 | 31.7 | 2.77 | 0.38× | ₹28 Cr | 8.7% | 0 | — | Technology |
Debt free in other groups · India
Debt free in other countries
Questions
Which micro cap companies in India have no debt?
The first five on PositoAI's list are Coral India Finance and Housing Limited (25,756), Mindteck (India) Limited (25,617), Emkay Taps and Cutting Tools Limited (25,615), Par Drugs and Chemicals Limited (25,446), Infollion Research Services Limited (25,194).
How many micro cap companies in India report no debt?
54 of the 652 micro cap companies in India on PositoAI report no debt (banks and lenders left out); this page shows the top 50.
How is this list made?
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. The list is updated every day from PositoAI's data.
What is a Micro Cap stock?
Micro Cap is one of PosiCap, PositoAI's own size classes: companies with a market value ₹100 Cr to ₹1,000 Cr (about $11M to $106M). It is not the SEBI or index definition.
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 top lists for India. PositoAI is for research and education only and is not investment advice.