In an era where financial stability is as crucial as growth potential, mid-cap companies with robust reserves and healthy cash equivalents are attracting investor interest. These companies not only showcase strong balance sheets but also possess the financial flexibility to pursue growth opportunities, sustain operations during market volatility, and reward shareholders. Investors seeking financially resilient mid-cap stocks may find these options particularly appealing.
1. Oil India Limited (OIL)
Incorporated in 1959, Oil India is a Maharatna CPSE fully integrated into the energy sector. The company operates across crude oil and natural gas exploration, production, and transportation, and is involved in LPG production.
Alongside its core energy operations, Oil India has diversified into renewable energy projects, including wind and solar power, reflecting its commitment to sustainable growth.
The company has a market cap of Rs. 67,715.82 crore, with a current market price of Rs. 416.30. As of FY25, Oil India reported reserves of Rs. 48,141.11 crore and cash equivalents of Rs. 7,197.17 crore, highlighting its strong financial position.
2. Aurobindo Pharma Limited
Aurobindo Pharma, headquartered in Hyderabad, is a leading global pharmaceutical company engaged in the development, manufacture, and commercialization of generic and branded specialty pharmaceuticals, as well as active pharmaceutical ingredients.
With operations spanning over 150 countries, the company has 31 manufacturing and packaging facilities approved by top regulatory authorities including USFDA, UK MHRA, and Japan PMDA.
Its diverse portfolio covers CNS, Anti-Retroviral, CVS, Antibiotics, Gastroenterological, Anti-Diabetic, and Anti-Allergic therapeutic areas, supported by a robust R&D infrastructure.
The company has a market cap of Rs. 63,432.25 crore and a current market price of Rs. 1,092.15. As of FY25, Aurobindo Pharma holds reserves of Rs. 32,595.24 crore and cash equivalents of Rs. 8,235.49 crore.
3. UPL Limited
Incorporated in 1985, UPL is primarily engaged in the manufacturing and sale of pesticides, insecticides, and micronutrients. Its portfolio includes crop protection solutions such as herbicides, fungicides, insecticides, BioSolutions, and seed treatments, along with post-harvest products and agronomic services.
UPL’s products serve multiple industries including pharmaceuticals, personal care, automotive, lubricants, paint, oil fields, electronics, and mining. Its sales are made directly to growers, distributors, and cooperatives.
The company has a market cap of Rs. 55,418.32 crore and trades at Rs. 657.15. As of FY25, UPL reported reserves of Rs. 29,054 crore and cash equivalents of Rs. 9,537 crore.
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4. NMDC Limited
Incorporated in 1958, NMDC is a Navratna PSU under the Ministry of Steel and India’s largest iron ore producer. It operates mechanized iron ore mines in Chhattisgarh and Karnataka and explores minerals including copper, limestone, magnesite, tungsten, diamond, and rock phosphate. NMDC also manages India’s only mechanized diamond mine located in Panna, Madhya Pradesh, demonstrating its diversified mineral portfolio.
The company has a market cap of Rs. 66,949.69 crore and a current market price of Rs. 76.16. As of FY25, NMDC reported reserves of Rs. 28,816.59 crore and cash equivalents of Rs. 10,088.55 crore.
5. Bharat Heavy Electricals Limited (BHEL)
Established in 1964, BHEL is a leading integrated power plant equipment manufacturer. The company offers design, engineering, manufacturing, construction, testing, commissioning, and servicing of products and solutions for sectors such as Power, Transmission, Industry, Transportation, Renewable Energy, Water, Oil & Gas, and Defence & Aerospace. It operates 16 power plants across India and serves 89 countries globally, underscoring its extensive international presence.
The company has a market cap of Rs. 82,786.06 crore, with a current market price of Rs. 237.75. As of FY25, BHEL reported reserves of Rs. 24,025.75 crore and cash equivalents of Rs. 7,612.41 crore.
6. Biocon Limited
Incorporated in 1978, Biocon is engaged in biotechnology product manufacturing and research services. Its business segments include Generics, offering cardiovascular, anti-obesity, immunosuppressant, and targeted antibiotics; Biologics, focusing on biosimilars for diabetes, oncology, and immunology; and Novels, which emphasizes internally developed, partnered, and licensed products addressing inflammation and immuno-oncology.
Biocon serves a broad customer base including wholesalers, distributors, retail pharmacy chains, healthcare professionals, hospitals, government institutions, and other biopharmaceutical companies.
The company has a market cap of Rs. 45,690.73 crore, with a current market price of Rs. 341.75. As of FY25, Biocon reported reserves of Rs. 21,043.70 crore and cash equivalents of Rs. 4,120.20 crore.
Written By Manan Gangwar
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