India’s equity markets have seen growing interest in fundamentally strong companies with low or zero debt. Debt-free companies are often seen as financially stable, better positioned to manage risks, and more likely to deliver consistent growth. When such companies also provide strong revenue guidance, they become even more attractive to investors.
This article highlights debt-free stocks that not only maintain a strong balance sheet but are also aiming for high revenue growth in the coming years, making them potential long-term winners in the market.
1. Techno Electric & Engineering Company
Techno Electric & Engineering Company operates in the power infrastructure space, offering EPC services in transmission, distribution, and renewable energy. It handles smart metering, FGD systems, and AMI projects under government schemes. The company is also expanding into AI-ready data centers, making it a key player in India’s energy and digital infrastructure growth.
Techno Electric & Engineering Company Limited, with a market capitalization of Rs.17,772 Crores, opened at Rs.1544.40 per equity share, from its previous day’s closing price of Rs. 1536.75.
In the latest earnings call held on May 29, 2025, the company reported an all-time high annual revenue of Rs 2,269 crores for FY25 and announced a revenue target of Rs 3,500 to Rs 3,600 crores for FY26 and Rs 4,500 Crores for FY27.
The management highlighted the commissioning of high-voltage substations, aggressive expansion in data centers, and smart meter installations as key growth drivers. The company’s plans include deploying over 1 million smart meters and expanding its presence in the high-growth data center space, targeting over 25 megawatts of capacity in the near term.
2. Quality Power Electrical Equipments
Founded in 2001 and based in Sangli, Maharashtra, Quality Power Electrical Equipments Limited focuses on high-voltage electrical equipment and solutions. The company plays a key role in supporting the global shift toward clean energy and supplies advanced power products and systems to over 95 countries.
With a market capitalization of Rs. 6,854 Crores, the shares of Quality Power Electrical Equipment Ltd opened at Rs. 867.00 per equity share, from its previous day’s closing price of Rs. 865.35, and made an intraday high of 931.85 per share
Quality Power Electrical Equipments Ltd. achieved Rs 337 Cr in FY25 and now they are targeting revenue of Rs. 700-Rs.850 crore in FY26, reflecting a growth of approximately 152.23 percent from Rs. 337 crore in FY25. Looking ahead, the company plans to expand significantly, aiming to reach Rs. 2,000 crore in total revenue, followed by capacity expansion.
3. Vilas Transcore Ltd
Vilas Transcore designs and manufactures CRGO laminated cores, slit coils, toroidal and wound cores used in power distribution and transmission transformers, supplying both domestic and international transformer and power equipment manufacturers from its Gujarat-based manufacturing units. With a market capitalization of Rs. 1,450 Crores, the shares of Vilas Transcore Ltd opened at Rs. 599.45 per equity share, from its previous day’s closing price of Rs. 599.45.
Vilas Transcore Limited has announced its revenue outlook for the upcoming years. In FY25, they recorded revenue of Rs. 353 crores and now aim to achieve Rs. 600 crores in FY26 and Rs. 1,000 crores in FY27, indicating a projected growth of approximately 183.29 percent over two years. The company has tripled its installed capacity from 12,000 to 36,000 metric tons annually to meet rising demand and improve efficiency.
Written by Sudeep Kumbar
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