List of debt free companies in indian stock market
However, that was not the case with our last year's list of Fastest Growing Small Companies. One in every three companies gave a positive return during this period. It is worth noting that this performance is calculated based on monthly average prices and not point-to-point comparison.
Only about half the contenders of last year could make it to the list this time. In a few cases this was on account of the company's inability to continue to perform well. However, quite a few had to lose their rankings due to the raised bar. The list this year is topped by Ester Industries, maker of polyester film, which made a dashing entry into the list, thanks to the runaway prices of its final product.
Zydus Wellness, our last year's topper maintained its momentum to secure the second place. While National Peroxide and Mayur Uniquoters improved their last year's rankings to take third and fourth places, respectively. A brief analysis of our 10 toppers follows the main story for readers' easy reference. One of the key challenges in compiling this list was to weed out unsound and potentially dubious candidates.
This is important because one can't worship growth just for the sake of it. We tried to achieve this by putting strict parameters for companies vying to enter the list. Only companies qualifying on all these accounts were considered for ranking. As such, making it to the ranking is itself quite an achievement.
The first thing considered was the debt-equity ratio? Any company with a reading of above 1. Similarly, interest coverage ratio, indicating the ability to service the debt, had to be above 5 for three consecutive years for the companies to make it to the list. The next criterion considered was the return on capital employed RoCE. RoCE is a measure to figure out how efficiently a company utilises its capital invested in the business.
Too low a return and the company could end up in a debt-trap. Additionally, companies unable to generate positive cashflows from operations for at least two of the past three years were removed. Finally, the revenue benchmark to qualify as a small company was raised to 1, crore or below for the current financial year to accommodate the overall growth and inflation against 1, crore or below in the previous year.
At the lower end, companies with a market capitalisation below crore were excluded. FY11 saw the demand for polyester film? News Updates View More. Online Real Time Connectivity. Focus on Customer Service Excellence. Initial Public Offerings Book Building is a process undertaken to stimulate demand and to assess the price for determination of the quantum or value of specified securities,in accordance with the applicable regulations during public issues. Listing Today No Listing Today.
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