Nifty Midcap 150 opened at 14,880.40 levels and gained 1% to reach its 52- week high of 14985.9 levels. Under the 150 companies the index holds, there are at least three companies which carry a low debt to equity ratio of 0.00. Debt to equity ratio is a measure of debt of any company compared to its total assets. It is calculated by dividing a company’s debt by its shareholders equity.
Here are three mid- cap stocks which are completely debt- free and trading at a discount of 20% in the last 52- weeks.
Vinati Organics Limited
Share price of Vinati closed nearly 0.5% lower at Rs 1850.15 per share. The stock is trading at a 22% discount from its 52- week high of Rs. 2377 apiece.
Vinati Organics Limited is a chemical and organic intermediaries manufacturing company. It has its market presence in across 35 countries in the world. The company was started back in Mumbai in the year of 1989 and in the last three decades, it has become a major player in its industry.
The company’s market capitalisation is at Rs. 19101 crore. Comparing its financials on a QoQ basis, the revenue fell by 14.3% from Rs. 503.43 crore in Q4FY23 to Rs. 431.03 crore in Q1FY24. Its net profit was also reported with a decrease of 27.8% from Rs. 115.37 crore in Q4FY23 to Rs. 83.22 crore in Q1FY24. The company has maintained a good average ROE for the last three years of 20.76. Its debt to equity ratio stands at 0.
Tata Elxsi Limited
Share price of Tata Elxsi closed 1% higher at Rs. 7319 per share. The stock is trading at a discount of 21% from its 52- week high of Rs. 9270 per piece.
Tata Elxsi Limited, part of the Tata Group conglomerate, is a global IT company with its presence in more than 15 countries. It caters to various industries which includes Broadcast, Automotive, Healthcare, and others. The company utilises digital technologies such as IoT, Mobility, Cloud, Artificial Intelligence to enhance the quality of its products and services.
The company has a market capitalisation of Rs. 45358 crore. As per its financial statements, the revenue went up by 1.4% from Rs. 837.92 crore in Q4FY23 to Rs. 850.27 crore in Q1FY24. Net profit for Q1FY24 stands at Rs. 188.95 crore, a fall of 6.2% from Rs. 201.52 crore in Q4FY23. It has maintained a good average ROE for the last three years of 36.11. The company has a low debt to equity ratio of 0.
Bata India Limited
Share price of Bata closed nearly 2% lower at Rs. 1657.17 per piece. The stock is trading at a discount of 16.5% from its 52- week high of Rs. 1657.15 per share.
Swiss-based Bata is a manufacturer of shoes. More than 2,000 Bata stores may be found in about 700 Indian towns. Bata India, founded in 1931, is well-known throughout the nation. Bata has been doing well in the shoe apparel sector thanks to its presence on the international stage for many years.
The company holds a market capitalization of Rs. 21664 crore. As per its quarterly statements, revenue for Q1FY24 increased by 23.06% to Rs. 958.15 crore from Rs. 778.59 crore in Q4FY23. The company has maintained a P/E ratio of 69.73 against its industry average P/E ratio of 75.92. It has a low debt to equity ratio of 0.
Written by Bhumika Khandwelwal
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