3 Multibagger Debt free penny stocks to add to your watchlist; Do you own any?

Finding the amount of debt that a company has is one of the most important factors that is considered while analysing a stock for investment. While a little debt provides financial leverage, too much of it can prove to be detrimental, especially under circumstances when a company does not make profits for a prolonged period of time. Investing in debt-free stocks limits downside risks. 

Here are three multibagger debt-free penny stocks to add to your watchlist: 

Spacenet Enterprises India Ltd:

Spacenet Enterprises is engaged in the business of trading commodities and providing services related to information technology. It is focused on building blockchain-powered trade finance and commodity trade finance solutions. 

It is a penny stock with a market capitalization of ₹ 939 crores. It does not have any debt. In the past year, its share price increased from ₹ 2.60 apiece to ₹ 17.80 apiece giving multibagger returns of 585%. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares a year ago, the value of their holding would have been ₹ 6.85 lakhs today! 

SBC Exports Ltd:

SBC Exports provides manpower supply services and tour operator services. It is also engaged in trading and manufacturing of clothing. Currently, it has more than 70 distributors in India and receives an average of 75 new projects every year. 

It is a penny stock with a market capitalization of ₹ 447 crores and it does not have any debt. In the past year, its share price increased from ₹ 5.40 apiece to ₹ 20.95 apiece giving multibagger returns of 288%. Therefore, if a shareholder had invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 3.88 lakhs today! 

IFL Enterprises Ltd:

IFL Enterprises is involved in the business of trading in goods like fabric and related products as well as shares and securities within permissible limits prescribed by the regulators such as RBI or SEBI. 

It is a penny stock with a market capitalization of ₹ 315 crores and it does not have any debt. In the past year, its share price increased from ₹ 3.98 apiece to ₹ 13.96 apiece giving multibagger returns of 251%. Therefore, if an investor had invested ₹ 1 lakh in the company’s shares a year ago, the value of their holdings would have been ₹ 3.51 lakhs today! 

Written By Simran Bafna 

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