While doing a fundamental analysis of any stock one of the most crucial aspects should be to check the amount of debt that the companies owe to its creditor. A high-debt company generally yields higher risk as the chances of defaulting on them are higher.
Here are four debt-free stocks that have given multibagger returns of 403% in a year:
Gujarat Narmada Valley Fertilisers & Chemicals Limited
On Friday, the stock declined marginally by 0.5 per cent and closed at Rs 738. In the past month, the stock has declined by approximately 3 per cent. So far this year, the stock has gained more than 65 per cent YTD.
A year ago the stock was trading at Rs 335 a piece on NSE. From there it has scaled up to the current levels logging a multibagger return of more than 119.71%.
In Q1FY23, its total revenue stood at Rs 2,696 crores, and the total net profit amounted to Rs 568 crores with zero debt on its balance sheet. It has a market capitalization of Rs 11,504 crores and the promoters hold a 41.18 per cent stake in the company.
Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) is an Indian manufacturer of fertilisers and Chemicals. It operates its businesses mainly in Industrial Chemicals, Fertilisers apart from having a small presence of IT services.
Gujarat Mineral Development Corporation Limited
On Friday, the stock dropped marginally by 0.9 per cent and closed at Rs 164. In the past month, the stock has declined by approximately 5 per cent. So far this year, the stock has logged a multibagger return of 123 per cent YTD.
A year ago the stock was trading at Rs 67.95 a piece on NSE. From there it has scaled up to the current levels logging a multibagger return of more than 142.60%.
In the latest quarter, the company’s revenue stood at Rs 1,197 crores and its net profit was Rs 344 crores. The company does not have any debt. It has a market capitalization of Rs 5,243 crores and the promoters hold a 74 per cent stake in the company.
Gujarat Mineral Development Corporation Limited (GMDC) is a major Indian state-owned mineral and lignite mining company whose product ranges from lignite, base metals, and industrial minerals like bauxite and fluorspar.
EKI Energy Services Limited
On Friday, the stock declined by 1.2 per cent and closed at Rs 1,696. In the past month, the stock has declined by approximately 17 per cent. So far this year, the stock has lost more than 34 per cent YTD.
A year ago the stock was trading at Rs 480 a piece on BSE. From there it has scaled up to the current levels logging a multibagger return of more than 253.39%.
In the June quarter of FY23, the company reported total revenue of Rs 508 crores and a net profit of Rs 106 crores with zero debt on its balance sheet. It has a market capitalization of Rs 4,664 crores and the promoters hold a 73.47 percent stake in the company.
EKI Energy Services Ltd is engaged in the business of climate change & sustainability advisory and carbon offsetting, along with business excellence services.
Jyoti Resins and Adhesives Limited
On Friday, the stock shed 3 per cent and closed at Rs 4,000. In the past month, the stock has inched 55 per cent. So far this year, the stock has delivered a multibagger return of more than 257 per cent.
A year ago the stock was trading at Rs 794 a piece on BSE. From there it has scaled up to the current levels logging a multibagger return of more than 403.59%.
In the latest quarter, the company’s revenue stood at Rs 63 crores and its net profit was Rs 9 crores. The company does not have any debt. It has a market capitalization of Rs 1,600 crores and the promoters hold a 49.97 per cent stake in the company.
Jyoti Resins and Adhesives Limited is an India-based company that is engaged in the business of manufacturing synthetic wood adhesives under its brand name EURO7000.
Written by – Anoushka Roy
Disclaimer
The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
