In recent years, several mid-cap companies have significantly strengthened their balance sheets by cutting down debt and improving financial stability. A sharp reduction in debt often signals better operational efficiency, prudent financial management, and long-term sustainability. Here are four mid-cap names that have managed to halve their borrowings over the last three years.
1. GE Vernova T&D India
GE Vernova T&D India, earlier known as GE T&D India, is a key player in the power transmission and distribution space. Headquartered in New Delhi, the company is part of GE Vernova’s Grid Solutions business in India.
Its product offerings span power transformers, circuit breakers, gas-insulated switchgear, substation automation equipment, and digital software platforms. It also executes turnkey substation projects, high-voltage direct current (HVDC) systems, and provides maintenance services to utilities, industries, and infrastructure sectors.
The company has a market cap of Rs. 77,656 crore and is currently trading at Rs. 3,032.85. Its debt has fallen sharply from Rs. 225.91 crore three years ago to just Rs. 34.56 crore now. Over the last six months, the stock has delivered an impressive return of 99.26 percent.
2. Suzlon Energy
Suzlon Energy, established in 1995, is among India’s leading wind energy companies. It manufactures wind turbine generators (WTGs) along with critical components such as blades, nacelles, towers, and foundations. The company serves a wide customer base including Independent Power Producers (IPPs), large corporates, government entities, and retail buyers.
Its subsidiary SE Forge supplies high-precision castings and forgings to global OEMs in sectors like power generation, oil and gas, aerospace, transportation, and heavy machinery. Suzlon also provides turbine maintenance services under its SURE (Suzlon Reliability) brand.
The company has a market cap of Rs. 81,589.97 crore and is currently trading at Rs. 60. Its debt has been cut drastically from Rs. 6,465.22 crore three years ago to Rs. 323.17 crore now. However, the stock has delivered a modest return of 5.17 percent in the past six months.
3. KPR Mill
KPR Mill, incorporated in 2003, is a diversified textile company engaged in the production of yarn, knitted fabric, ready-made garments, and wind power. Its portfolio includes cotton, organic cotton, blended, and fair-trade yarns, along with a wide range of knitted fabrics such as single jersey, interlock, rib, fleece, pique polo, and flat bed collar. The company manufactures garments catering to men, women, and children across casual wear, sportswear, active wear, sleepwear, and workwear categories.
The company has a market cap of Rs. 39,006.11 crore and is currently trading at Rs. 1,141.15. Its debt has declined from Rs. 1,185.30 crore three years ago to Rs. 465.96 crore at present. In the last six months, the stock has gained 19.82 percent.
4. Patanjali Foods
Patanjali Foods, formerly known as Ruchi Soya Industries, was established in 1986 and is a major player in India’s edible oil and FMCG market. The company processes oilseeds and manufactures a variety of edible oils including mustard, soybean, sunflower, rice bran, coconut, and palm.
Its product basket also covers vanaspati, bakery fats, soya-based foods, dry fruits, honey, flour, spices, beverages, and packaged snacks. Additionally, Patanjali Foods is active in the nutraceuticals space and operates a wind power business. Its brands include Patanjali, Nutrela, Mahakosh, Sunrich, and Ruchi Gold.
The company has a market cap of Rs. 65,079.32 crore and is currently trading at Rs. 598.25. Its debt has been reduced significantly from Rs. 3,696.06 crore three years ago to Rs. 787.67 crore now. Over the last six months, the stock has delivered a return of 2.25 percent.
Written by Manan Gangwar
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