Synopsis:
Mid-cap stocks with no debt are companies that didn’t take loans. They usually have good financial health and make the most out of their own money, showing strong profits.

Debt-free mid-cap stocks are useful to investors because they have lower financial risk. Since these companies don’t have loan obligations, they are less affected by interest rate changes and economic slowdowns.

Here is the list of debt-free Midcap stocks:

Bharat Dynamics Limited

Bharat Dynamics Limited is a major Indian defence company that makes different types of missiles, underwater weapons, launchers, and testing equipment. It also repairs and extends the life of missiles that are already in use. BDL is the only company in India that makes Surface-to-Air Missiles, Anti-Tank Guided Missiles, and torpedoes; it is the main supplier of these weapons to the Indian Armed Forces. The company has a market capitalization of Rs.57,220.41 crore, and closed at Rs.1,561, up by 1.24 percent from the previous close of Rs.1,541.95. 

 In Q1FY26, the company’s revenue from operations grew to Rs.248 crore from Rs.191 crore in Q1FY25, and in Q1FY26, net profit grew to Rs.18  crore from Rs.7 crore in Q1FY25.

Its return on equity is 14 percent, and return on capital employed is 19 percent. The company’s PE ratio stands at 97.85, with the industry average of 70.43. The debt-to-equity ratio is 0.

Multi-Commodity Exchange Of India Limited

Multi-Commodity Exchange of India Limited is a recognised stock exchange under the Securities Contracts (Regulation) Act of 1956. It provides nationwide online trading, clearing, and settlement of commodity derivatives. The exchange aims to provide participants in the commodity value chain with a neutral, secure, and transparent trading platform, while establishing quality standards and trade rules in accordance with relevant regulations.  The company has a market capitalization of Rs.41,545.06 crore, and closed at Rs.8,146.35, up by 1.87 percent from the previous close of Rs.7,997.15. 

 In Q1FY26, the company’s revenue from operations grew to Rs.373 crore from Rs.234 crore in Q1FY25, and in Q1FY26, net profit grew to Rs.203  crore from Rs.111 crore in Q1FY25.

Its return on equity is 34 percent, and return on capital employed is 42 percent. The company’s PE ratio stands at 60.99, with the industry average of 52.31. The debt-to-equity ratio is 0.

Central Depository Services Limited

Central Depository Services Limited provides various online services such as e-voting, e-Locker, National Academy Depository, easi (Electronic Access to Security Information), easiest (Electronic Access to Securities Information and Execution of Secured Transactions), and mobile apps like myeasi and m-voting. CDSL serves multiple sectors of the Indian financial market, including capital markets, mutual funds, and insurance companies. The company has a market capitalization of Rs.31,136.82 crore, and closed at Rs.1,489.80, up by 0.97 percent from the previous close of Rs.1,475.50. 

 In Q1FY26, the company’s revenue from operations grew to Rs.259 crore from Rs.257 crore in Q1FY25, and in Q1FY26, net profit slipped to Rs.102  crore from Rs.134 crore in Q1FY25.

Its return on equity is 32 percent, and return on capital employed is 42 percent. The company’s PE ratio stands at 61.90, with the industry average of 57.31. The debt-to-equity ratio is 0.

Garden Reach Shipbuilders & Engineers Limited

Garden Reach Shipbuilders & Engineers Limited is a leading Indian shipbuilding company under the Ministry of Defence. It mainly builds ships for the Indian Navy and Coast Guard. GRSE is a diversified and profitable shipyard, and it is the first in India to export warships as well as deliver 100 warships to the Indian Navy and Coast Guard. The company has a market capitalization of Rs.31,215.99 crore, and closed at Rs.2,725.05,up by 3.02 percent from the previous close of Rs.2,645.10. 

 In Q1FY26, the company’s revenue from operations grew to Rs.1,310 crore from Rs.1,010 crore in Q1FY25, and in Q1FY26, net profit grew to Rs.120  crore from Rs.87 crore in Q1FY25.

Its return on equity is 27 percent, and return on capital employed is 36 percent. The company’s PE ratio stands at 55.51, with the industry average of 66.98. The debt-to-equity ratio is 0.

NBCC India Limited

NBCC India Limited, formerly National Buildings Construction Corporation Limited, is a blue-chip Navratna company under the Ministry of Housing and Urban Affairs. The company operates in three main areas: Project Management Consultancy, Real Estate Development, and EPC Contracting. PMC is NBCC’s core strength, contributing around 90 percent of its annual revenue, and covers projects such as the redevelopment of government properties, roads, hospitals, medical colleges, and offices. The company has a market capitalization of Rs.30,550.50 crore, and closed at Rs.113.15,up by 3.24 percent from the previous close of Rs.109.60. 

 In Q1FY26, the company’s revenue from operations grew to Rs.2,391 crore from Rs.2,143 crore in Q1FY25, and in Q1FY26, net profit grew to Rs.135  crore from Rs.107 crore in Q1FY25.

Its return on equity is 25 percent, and return on capital employed is 33 percent. The company’s PE ratio stands at 46.39, with the industry average of 20.85. The debt-to-equity ratio is 0.

Written by: Jhanavi Sivakumar

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