Investors often look for companies with strong balance sheets and significant promoter ownership, as these factors can provide insights into financial stability and management commitment. Debt-free companies, in particular, have limited dependence on borrowings, while high promoter holdings indicate substantial ownership by the company’s promoters. Together, these characteristics can be useful starting points for investors researching financially strong businesses.
This article highlights companies that were debt-free and had promoter holdings of more than 70 percent as of June 2026. The list covers companies from different sectors and provides a starting point for further research. Investors should also consider profitability, valuations, cash flows, business prospects, and other financial factors before making investment decisions. Here are ten debt-free companies with promoters holding more than 70 percent in June 2026
Gillette India Limited
With a market capitalization of Rs. 22,618.05 crore, the shares of Gillette India Limited were currently trading at Rs. 6941.20 per equity share, down nearly 0.81 percent from its previous day’s closing price of Rs. 6,997.55 per equity share.
In June 2026, Gillette India Limited had a majority stake held by the promoters at 75.00 percent, foreign institutional investors at 4.33 percent, domestic institutional investors at 8.76 percent, the government at 0.01 percent, and the public at 11.91 percent.
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Gillette India Limited is a debt-free company and has earnings per share (EPS) of Rs. 205. In terms of return ratios, the company’s ROCE and ROE stand at 90.7 percent and 66.5 percent, respectively.
Gillette India Limited is a leading consumer goods company operating in the grooming and personal care segment. It is associated with globally recognised brands such as Gillette and Oral-B. The company manufactures and markets shaving products, including razors, blades, and grooming systems, along with oral-care products such as toothbrushes.
Hindustan Aeronautics Limited
With a market capitalization of Rs. 3,14,083.49 crore, the shares of Hindustan Aeronautics Limited were currently trading at Rs. 4696.40 per equity share, rising nearly 0.88 percent from its previous day’s closing price of Rs. 4,655.50 per equity share.
In June 2026, Hindustan Aeronautics Limited had a majority stake held by the promoters at 71.64 percent, foreign institutional investors at 9.34 percent, domestic institutional investors at 11.90 percent, the government at 0.07 percent, and the public at 7.03 percent.
Hindustan Aeronautics Limited is a debt-free company, but it has Rs. 66 crore in lease liabilities and other borrowings. The company has an earnings per share (EPS) of Rs. 139. In terms of return ratios, the company’s ROCE and ROE stand at 32.0 percent and 24.0 percent, respectively.
Hindustan Aeronautics Limited (HAL) is a major Indian aerospace and defence company operating under the Ministry of Defence. The company designs, develops, manufactures, repairs, and maintains aircraft, helicopters, aero-engines, and related aerospace systems. HAL is involved in important defence programmes, including fighter aircraft, helicopters, trainers, and various avionics and aerospace components.
Vinati Organics Limited
With a market capitalization of Rs. 12,072.90 crore, the shares of Vinati Organics Limited were currently trading at Rs. 1164.60 per equity share, rising nearly 0.45 percent from its previous day’s closing price of Rs. 1,169.90 per equity share.
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In June 2026, Vinati Organics Limited had a majority stake held by the promoters at 74.29 percent, foreign institutional investors at 3.65 percent, domestic institutional investors at 9.20 percent, and the public at 12.86 percent.
Vinati Organics Limited is a debt-free company and has an earnings per share (EPS) of Rs. 48.1. In terms of return ratios, the company’s ROCE and ROE stand at 21.4 percent and 16.2 percent, respectively.
Vinati Organics Limited is an Indian specialty chemicals manufacturer with a focus on high-performance chemical products. The company manufactures products such as specialty monomers, organic intermediates, and other specialty chemicals used across industries. Its products find applications in pharmaceuticals, agrochemicals, polymers, coatings, personal care, and other industrial sectors.
Shanthi Gears Limited
With a market capitalization of Rs. 4,605.25 crore, the shares of Shanthi Gears Limited were currently trading at Rs. 600.30 per equity share, rising nearly 3.16 percent from its previous day’s closing price of Rs. 581.90 per equity share.
In June 2026, Shanthi Gears Limited had a majority stake held by the promoters at 70.47 percent, foreign institutional investors at 3.13 percent, domestic institutional investors at 0.23 percent, and the public at 26.16 percent.
Shanthi Gears Limited is a debt-free company and has an earnings per share (EPS) of Rs. 8.32. In terms of return ratios, the company’s ROCE and ROE stand at 25.6 percent and 19.0 percent, respectively.
Shanthi Gears Limited is an Indian engineering company specialising in the design and manufacture of industrial gears and power transmission products. It is part of the Murugappa Group and serves customers across industries such as material handling, cement, steel, sugar, power, mining, and general engineering.
Ajax Engineering Limited
With a market capitalization of Rs. 6,766.59 crore, the shares of Ajax Engineering Limited were currently trading at Rs. 591.45 per equity share, rising nearly 0.73 percent from its previous day’s closing price of Rs. 587.15 per equity share.
In June 2026, Ajax Engineering Limited had a majority stake held by the promoters at 80 percent, foreign institutional investors at 4.67 percent, domestic institutional investors at 11.17 percent, and the public at 4.17 percent.
Ajax Engineering Limited is a debt-free company, but it has Rs. 2 crore in Lease Liabilities and other borrowings. The company has an earnings per share (EPS) of Rs. 19.9. In terms of return ratios, the company’s ROCE and ROE stand at 23.9 percent and 17.8 percent, respectively.
Ajax Engineering Limited is an Indian construction equipment manufacturer specializing in concrete and infrastructure-related machinery. The company offers a wide range of equipment, including self-loading concrete mixers, batching plants, boom pumps, transit mixers, and other concrete construction solutions. Ajax serves the growing infrastructure, real estate, and construction sectors across India.
Hathway Cable & Datacom Limited
With a market capitalization of Rs. 1,658.59 crore, the shares of Hathway Cable & Datacom Limited were currently trading at Rs. 9.37 per equity share, down nearly 0.85 percent from its previous day’s closing price of Rs. 9.45 per equity share.
In June 2026, Hathway Cable & Datacom Limited had a majority stake held by the promoters at 75 percent, foreign institutional investors at 0.37 percent, and the public at 24.62 percent.
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Hathway Cable & Datacom Limited is a debt-free company, but it has Rs. 9 crore in other and short-term borrowings. The company has an earnings per share (EPS) of Rs. 0.43. In terms of return ratios, the company’s ROCE and ROE stand at 2.62 percent and 1.90 percent, respectively.
Hathway Cable & Datacom Limited is an Indian telecommunications and cable television company. It provides broadband internet and digital cable television services to residential and business customers. The company operates through a network spread across several Indian cities and has historically been an important player in the cable broadband market.
Danish Power Limited
With a market capitalization of Rs. 1,910.09 crore, the shares of Danish Power Limited were currently trading at Rs. 970.00 per equity share, rising nearly 0.31 percent from its previous day’s closing price of Rs. 967.00 per equity share.
In March 2026, Danish Power Limited had a majority stake held by the promoters at 73.62 percent, foreign institutional investors at 0.27 percent, domestic institutional investors at 4.01 percent, and the public at 22.11 percent.
Danish Power Limited is effectively a debt-free company, but it has Rs. 2 crore in other and short-term borrowings. The company has an earnings per share (EPS) of Rs. 35.6. In terms of return ratios, the company’s ROCE and ROE stand at 22.5 percent and 17.1 percent, respectively.
Danish Power Limited is an Indian manufacturer of power and distribution transformers and related electrical equipment. The company serves customers in the power transmission and distribution sector and provides products used in electrical power infrastructure. Its product range includes transformers and other equipment designed for applications across electricity distribution and industrial systems.
Procter & Gamble Hygiene and Health Care Limited
With a market capitalization of Rs. 21,923.98 crore, the shares of Procter & Gamble Hygiene and Health Care Limited were currently trading at Rs. 6,754.00 per equity share, down nearly 0.68 percent from its previous day’s closing price of Rs. 6,800.05 per equity share.
In June 2026, Procter & Gamble Hygiene and Health Care Limited had a majority stake held by the promoters at 70.64 percent, foreign institutional investors at 0.98 percent, domestic institutional investors at 15.58 percent, and the public at 12.79 percent.
Procter & Gamble Hygiene and Health Care Limited is a debt-free company, but it has Rs. 1 crore in Lease Liabilities. The company has an earnings per share (EPS) of Rs. 244. In terms of return ratios, the company’s ROCE and ROE stand at 157 percent and 115 percent, respectively.
Procter & Gamble Hygiene and Health Care Limited is an Indian consumer healthcare and personal-care company associated with the global Procter & Gamble group. The company markets well-known brands in categories such as feminine hygiene, healthcare, and personal care.
Oracle Financial Services Software Limited
With a market capitalization of Rs. 92,429.61 crore, the shares of Oracle Financial Services Software Limited were currently trading at Rs. 10,611.65 per equity share, down nearly 1.36 percent from its previous day’s closing price of Rs. 10,758.40 per equity share.
In June 2026, Oracle Financial Services Software Limited had a majority stake held by the promoters at 72.41 percent, foreign institutional investors at 9.70 percent, domestic institutional investors at 8.79 percent, and the public at 9.08 percent.
Oracle Financial Services Software Limited is a debt-free company, but it has Rs. 32.50 crore in Lease Liabilities. The company has an earnings per share (EPS) of Rs. 392. In terms of return ratios, the company’s ROCE and ROE stand at 45.3 percent and 32.6 percent, respectively.
Oracle Financial Services Software Limited (OFSS) is a technology company providing software solutions specifically for the financial services industry. It is part of Oracle Corporation and develops banking and financial technology platforms used by banks and other financial institutions worldwide.
Honeywell Automation India Limited
With a market capitalization of Rs. 29,402.48 crore, the shares of Honeywell Automation India Limited were currently trading at Rs. 33,255.00 per equity share, down nearly 0.73 percent from its previous day’s closing price of Rs. 33,498.05 per equity share.
In June 2026, Honeywell Automation India Limited had a majority stake held by the promoters at 75.00 percent, foreign institutional investors at 3.94 percent, domestic institutional investors at 11.31 percent, and the public at 9.74 percent.
Honeywell Automation India Limited is a debt-free company, but it has Rs. 110 crore in Lease Liabilities. The company has an earnings per share (EPS) of Rs. 623. In terms of return ratios, the company’s ROCE and ROE stand at 17.0 percent and 12.6 percent, respectively.
Honeywell Automation India Limited (HAIL) is an industrial technology and automation company associated with the global Honeywell group. The company provides automation, control, engineering, and digital solutions to industries such as oil and gas, chemicals, pharmaceuticals, power, manufacturing, and infrastructure.