In the high-risk world of small caps, a debt-free balance sheet stands out for offering financial flexibility, lower risk, and investor appeal.
Excluding banks and focusing on firms with FY25 net profits above Rs 100 crore, 83 debt-free small-cap stocks were identified on the BSE. Narrowing this to companies where FIIs raised stakes for two straight quarters leaves 22 names showing renewed confidence.
In CY25 so far, half of these stocks have delivered gains of 10–103%, while three major laggards highlight the other side of the story. (Data source: ACE Equity)