Debt can be a fantastic asset for driving business growth when handled correctly, but if it’s not managed well, it can take a serious toll on a company’s financial stability. In this article, we’ll look at four fundamentally strong companies that keep their debt levels low, showcasing their financial discipline and minimizing risk.
1. KNR Construction
KNR Constructions Ltd, incorporated in 1995, is a Hyderabad-based infrastructure project development company providing EPC services in segments such as roads and highways, irrigation and urban water infrastructure management.
The company reported a consolidated revenue of Rs 4,753 crores in FY25, marking an increase of 7.31 percent from Rs 4,429 crores in FY24. The company posted a net profit of Rs 1,002 crores in FY25, registering a growth of 33.24 percent from Rs 752 crores in FY24.
As of the latest filing available, the company has a low debt-to-equity ratio of 0.41x, indicating a strong balance sheet and low financial risk.
2. Welspun Corp
Welspun Corp Limited, headquartered in Mumbai, India, is one of the largest manufacturers of large-diameter pipes globally. The company also manufactures BIS-certified Steel Billets, TMT Rebars, Ductile Iron Pipes, Stainless Steel Pipes, Tubes, and Bars. It also acquired Sintex-BAPL, a market leader in water tanks and other plastic products.
The company reported a consolidated revenue of Rs 13,978 crores in FY25, marking a decrease of 19.39 percent from Rs 17,340 crores in FY24. The company posted a net profit of Rs 1,902 crores in FY25, registering a growth of 67.42 percent from Rs 1,136 crores in FY24. As of the latest filing available, the company has a low debt-to-equity ratio of 0.15x, indicating a strong balance sheet and low financial risk.
3. Fiem Industries
Fiem Industries Limited stands out as a top player in the manufacturing of automotive lighting and signaling gear, rear-view mirrors, and various plastic and sheet metal components.
They create both LED and traditional headlamps, tail lamps, indicators, and interior lights for all types of vehicles—be it two, three, or four wheels. The company also produces essential parts like bank angle sensors, canisters, prismatic mirrors, and molded plastic pieces. On top of that, they provide LED lighting solutions for both indoor and outdoor settings, along with display panels and systems for passenger information.
The company reported a consolidated revenue of Rs 2,423 crores in FY25, marking an increase of 19.41 percent from Rs 2,029 crores in FY24. The company posted a net profit of Rs 205 crores in FY25, registering a growth of 23.50 percent from Rs 166 crores in FY24. As of the latest filing available, the company has a low debt-to-equity ratio of 0.02x, indicating a strong balance sheet and low financial risk.
4. Lumax Auto
Lumax Auto Technologies Ltd. through its subsidiaries, has been a manufacturer of wide range of products (Advance Plastics, 2/3-wheeler Lighting, Chassis, Gear Shifter, Shift Towers, Emission Systems, Seat Frames, Oxygen Sensors, On-board antennas Electric devices & components, Wiring Harness, Vehicle Interior Components & CNG delivery systems).
We are market leaders in the Design, Testing, and Manufacturing of Gear Shifters & Interior Solutions in India. The Company has a robust pan-India distribution network with 30 manufacturing plants across India in all major Auto clusters.
Lumax Auto reported a consolidated revenue of Rs 3,637 crores in FY25, marking an increase of 28.89 percent from Rs 2,822 crores in FY24. The company posted a net profit of Rs 229 crores in FY25, registering a growth of 37.13 percent from Rs 167 crores in FY24. As of the latest filing available, the company has a low debt-to-equity ratio of 0.97x, indicating a strong balance sheet and low financial risk.
Written by Satyajeet Mukherjee
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