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Companies where total borrowings have consistently declined over multiple financial years.
| Company Name | Sector | Market Cap (Cr) | ROCE FY25 | Debt/Equity Ratio (Stock) | Day Change | Dividend Yield (Stock) | P/E (Stock) | Sales (Con.) FY26 Q4 | Total Debt FY25 | Total Debt FY24 | Total Debt FY23 | Total Debt FY22 | Total Debt FY21 | Consecutive Decline Years | Debt Reduction Trend | Total Debt Reduction % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Tata Motors Passenger Vehicles | Automobiles | 1,10,669.07 | 16.52 | 0.66 | 301.10+0.60 (+0.20%) | 1.00 | 1.39 | 1,04,923.00 | 40,217.00 | 62,149.00 | 88,695.80 | 97,759.20 | 93,112.80 | 3.00 | 3 Year Decline | 56.81 |
Larsen & Toubro | Construction | 5,44,100.89 | 19.30 | 1.25 | 3,930.70-24.30 (-0.61%) | 0.96 | 27.73 | 82,762.20 | 57,503.30 | 56,507.00 | 61,217.70 | 61,618.30 | 82,120.00 | 0.00 | No Decline | 29.98 |
Power Grid Corporation of India | Power | 2,52,743.90 | 13.08 | 1.44 | 269.10-2.65 (-0.98%) | 3.31 | 15.92 | 11,665.60 | 1,09,858.00 | 1,05,067.00 | 1,13,891.00 | 1,14,199.00 | 1,29,175.00 | 0.00 | No Decline | 14.95 |
Adani Power | Power | 4,11,728.23 | 20.49 | 0.77 | 209.97-3.53 (-1.65%) | 0.00 | 28.25 | 14,223.10 | 27,647.00 | 26,595.00 | 33,702.60 | 37,871.30 | 39,957.00 | 0.00 | No Decline | 30.81 |
Bharat Petroleum | Petroleum Products | 1,31,456.70 | 17.50 | 0.64 | 304.50+1.50 (+0.50%) | 5.69 | 7.67 | 1,18,701.00 | 26,527.90 | 26,877.10 | 41,369.40 | 36,358.90 | 35,740.20 | 2.00 | 2 Year Decline | 25.78 |
Steel Authority of India | Metals & Mining | 75,898.40 | 7.32 | 0.58 | 179.00-4.75 (-2.59%) | 1.28 | 17.79 | 30,813.50 | 10,101.00 | 9,568.21 | 6,112.58 | 8,135.81 | 17,906.60 | 0.00 | No Decline | 43.59 |
Mangalore Refinery & Petroleum | Petroleum Products | 31,778.12 | 5.12 | 1.05 | 175.86-5.46 (-3.01%) | 2.21 | 10.12 | 23,949.70 | 8,228.97 | 8,921.08 | 12,418.00 | 14,215.50 | 15,699.30 | 4.00 | 3 Year Decline | 47.58 |
Reliance Power | Power | 9,032.52 | 7.28 | 1.00 | 21.58-0.26 (-1.19%) | 0.00 | -28.39 | 1,887.26 | 10,243.60 | 9,409.48 | 12,240.40 | 14,214.20 | 16,831.50 | 0.00 | No Decline | 39.14 |
Jindal Steel | Metals & Mining | 1,15,984.02 | 11.00 | 0.42 | 1,120.50-16.50 (-1.45%) | 0.17 | 43.01 | 16,217.90 | 14,005.40 | 10,058.50 | 7,207.63 | 8,434.30 | 20,230.40 | 0.00 | No Decline | 30.77 |
PTC India | Power | 4,549.40 | 18.43 | 0.40 | 152.78-0.91 (-0.59%) | 5.53 | 7.76 | 3,859.97 | 1,758.48 | 2,804.05 | 4,833.13 | 6,061.08 | 7,704.26 | 5.00 | 5+ Year Decline | 77.18 |
RattanIndia Power | Power | 3,893.33 | 8.06 | 0.72 | 7.17-0.08 (-1.10%) | 0.00 | 34.52 | 787.69 | 3,262.40 | 3,099.38 | 2,553.91 | 7,129.91 | 9,203.43 | 0.00 | No Decline | 64.55 |
Suzlon Energy | Capital Goods | 60,770.40 | 25.94 | 0.06 | 44.12-0.10 (-0.23%) | 0.00 | 19.24 | 5,468.06 | 129.19 | 49.87 | 1,517.27 | 5,592.44 | 6,027.20 | 0.00 | No Decline | 97.86 |
Bharti Airtel | Telecom | 11,20,554.10 | 14.72 | 1.56 | 1,831.10-7.90 (-0.43%) | 1.28 | 31.48 | 55,383.20 | 1,04,864.00 | 1,30,963.00 | 1,51,569.00 | 1,13,535.00 | 1,10,560.00 | 2.00 | 2 Year Decline | 5.15 |
Ashoka Buildcon | Construction | 3,187.10 | 24.52 | 0.33 | 113.86+0.33 (+0.29%) | 0.00 | 1.29 | 1,954.30 | 727.82 | 3,789.83 | 3,859.91 | 2,936.42 | 5,875.55 | 2.00 | 2 Year Decline | 87.61 |
Reliance Infrastructure | Power | 2,237.26 | 8.62 | 0.35 | 53.66-1.09 (-1.99%) | 0.00 | 0.42 | 4,001.28 | 1,933.12 | 3,170.38 | 4,434.80 | 5,452.25 | 6,472.90 | 5.00 | 5+ Year Decline | 70.14 |
UPL | Chemicals | 48,565.06 | 9.61 | 0.76 | 572.95-2.35 (-0.41%) | 1.05 | 20.84 | 18,335.00 | 18,263.00 | 24,010.00 | 20,144.00 | 21,605.00 | 22,141.00 | 1.00 | 1 Year Decline | 17.52 |
HCL Technologies | Information Technology | 3,27,539.38 | 30.84 | 0.08 | 1,206.10-0.90 (-0.07%) | 4.51 | 18.63 | 33,981.00 | 70.00 | 2,223.00 | 2,111.00 | 3,923.00 | 3,828.00 | 1.00 | 1 Year Decline | 98.17 |
Glenmark Pharmaceuticals | Healthcare | 68,151.50 | 21.37 | 0.16 | 2,419.20+4.20 (+0.17%) | 0.21 | 37.94 | 3,760.28 | 512.70 | 0.00 | 3,852.14 | 2,571.74 | 3,888.82 | 0.00 | No Decline | 86.82 |
Nuvoco Vistas Corporation | Construction | 11,832.58 | 5.49 | 0.49 | 330.15-1.15 (-0.35%) | 0.00 | 30.64 | 3,306.75 | 2,363.22 | 2,878.26 | 3,325.43 | 4,183.37 | 5,561.24 | 4.00 | 3 Year Decline | 57.51 |
Chambal Fertilisers & Chemicals | Chemicals | 16,737.20 | 23.15 | 0.05 | 418.80+1.05 (+0.25%) | 2.63 | 8.68 | 2,785.03 | 82.33 | 1,144.22 | 1,820.41 | 2,471.24 | 3,146.81 | 5.00 | 5+ Year Decline | 97.38 |
Lodha Developers | Realty | 1,16,230.60 | 19.14 | 0.40 | 1,116.90-46.50 (-4.00%) | 0.36 | 28.37 | 4,713.50 | 1,216.30 | 1,970.10 | 2,256.80 | 2,715.60 | 4,267.58 | 4.00 | 3 Year Decline | 71.50 |
Apollo Tyres | Automobiles | 26,645.70 | 12.55 | 0.26 | 417.65-1.90 (-0.45%) | 1.43 | 15.59 | 7,335.67 | 1,829.19 | 2,672.75 | 3,789.84 | 4,408.47 | 4,786.46 | 5.00 | 5+ Year Decline | 61.78 |
Indian Oil Corporation | Petroleum Products | 1,90,552.00 | 9.84 | 0.70 | 135.11+0.17 (+0.13%) | 5.95 | 5.35 | 2,08,289.00 | 51,755.80 | 46,792.90 | 63,312.90 | 55,944.50 | 54,685.00 | 0.00 | No Decline | 5.36 |
Great Eastern Shipping Company | Transport Services | 19,990.26 | 16.83 | 0.10 | 1,412.20+12.00 (+0.86%) | 2.51 | 5.33 | 1,511.40 | 1,487.86 | 2,407.72 | 3,021.04 | 3,977.48 | 4,394.34 | 5.00 | 5+ Year Decline | 66.14 |
Chennai Petroleum Corporation | Petroleum Products | 24,218.95 | 5.49 | 0.26 | 1,572.90-53.50 (-3.29%) | 3.81 | 5.80 | 16,817.30 | 158.12 | 1,334.70 | 2,159.19 | 2,391.55 | 3,004.64 | 4.00 | 3 Year Decline | 94.74 |
Hindalco Industries | Metals & Mining | 2,27,868.80 | 14.02 | 0.63 | 981.50-32.50 (-3.21%) | 0.48 | 13.96 | 78,133.00 | 56,217.00 | 47,395.00 | 51,434.00 | 51,635.00 | 58,985.00 | 0.00 | No Decline | 4.69 |
Bombay Dyeing | Textiles | 2,323.70 | 4.23 | 0.00 | 111.27-1.24 (-1.10%) | 0.35 | 115.05 | 395.84 | 2.94 | 2.75 | 2,699.40 | 3,149.63 | 2,500.72 | 0.00 | No Decline | 99.88 |
Indian Hotels Company | Leisure Services | 1,01,882.16 | 23.18 | 0.24 | 718.50+2.75 (+0.38%) | 0.45 | 44.42 | 2,765.29 | 203.15 | 46.74 | 330.98 | 1,387.91 | 2,223.83 | 0.00 | No Decline | 90.86 |
Mamaearth | Consumer Goods | 15,507.34 | 7.86 | 0.12 | 471.15-4.50 (-0.95%) | 0.63 | 62.10 | 657.08 | 0.00 | 0.00 | 0.00 | 0.00 | 1,954.00 | 0.00 | No Decline | 100.00 |
Tata Communications | Telecom | 50,285.40 | 15.82 | 3.80 | 1,761.60-2.80 (-0.16%) | 0.99 | 53.70 | 6,554.15 | 6,996.71 | 4,745.73 | 5,008.58 | 5,990.92 | 8,886.39 | 0.00 | No Decline | 21.26 |
Torrent Pharmaceuticals | Healthcare | 1,87,521.35 | 30.65 | 1.14 | 4,965.50+35.50 (+0.72%) | 0.69 | 86.95 | 4,128.00 | 1,191.75 | 1,603.78 | 2,496.22 | 2,123.22 | 2,941.07 | 2.00 | 2 Year Decline | 59.48 |
Mukand | Metals & Mining | 2,060.10 | 23.44 | 1.31 | 139.48-3.09 (-2.17%) | 2.11 | 3.25 | 1,269.09 | 107.25 | 1,433.09 | 1,448.39 | 885.69 | 1,763.49 | 2.00 | 2 Year Decline | 93.92 |
DLF | Realty | 1,62,343.50 | 7.11 | 0.05 | 644.50-11.35 (-1.73%) | 1.22 | 36.47 | 1,814.06 | 1,672.07 | 2,438.99 | 1,049.66 | 2,189.46 | 3,294.80 | 1.00 | 1 Year Decline | 49.25 |
Indus Infra Trust | Construction | 8,112.32 | 17.17 | 0.33 | 132.57-0.20 (-0.15%) | 7.01 | 20.75 | 187.94 | 1,964.01 | 973.05 | 0.00 | 4,433.77 | 3,558.77 | 0.00 | No Decline | 44.81 |
Rain Industries | Chemicals | 7,308.10 | 5.50 | 1.30 | 215.97-1.31 (-0.60%) | 0.46 | 10.94 | 4,520.73 | 6,484.21 | 7,317.71 | 7,795.49 | 7,443.62 | 8,001.20 | 2.00 | 2 Year Decline | 18.96 |
Jaiprakash Power Ventures | Power | 11,123.20 | 10.06 | 0.28 | 16.02-0.21 (-1.29%) | 0.00 | 17.28 | 1,386.43 | 3,242.16 | 3,624.82 | 3,991.65 | 4,451.30 | 4,751.50 | 5.00 | 5+ Year Decline | 31.77 |
Supreme Infrastructure | Construction | 865.14 | - | 0.00 | 85.04-3.69 (-4.16%) | 0.00 | 0.14 | 13.89 | 63.01 | 1,669.00 | 1,605.71 | 1,511.23 | 1,534.00 | 1.00 | 1 Year Decline | 95.89 |
Ramky Infrastructure | Construction | 2,324.40 | 17.11 | 0.39 | 332.10-3.80 (-1.13%) | 0.30 | 9.51 | 506.68 | 121.81 | 580.10 | 368.53 | 387.00 | 1,590.71 | 1.00 | 1 Year Decline | 92.34 |
Nava | Diversified | 15,801.40 | 15.59 | 0.19 | 551.85-6.50 (-1.16%) | 1.52 | 16.27 | 1,142.85 | 823.39 | 305.00 | 1,574.89 | 1,855.56 | 2,242.79 | 0.00 | No Decline | 63.29 |
Indus Towers | Telecom | 98,139.70 | 28.12 | 0.59 | 388.00+16.00 (+4.30%) | 3.76 | 13.74 | 8,101.00 | 153.20 | 1,504.40 | 2,434.00 | 2,373.90 | 1,505.10 | 2.00 | 2 Year Decline | 89.82 |
Aster DM Quality Care | Healthcare Services | 66,813.69 | 12.55 | 0.58 | 763.05-3.45 (-0.45%) | 0.00 | 184.30 | 1,182.38 | 483.71 | 446.08 | 1,312.30 | 1,466.40 | 1,754.80 | 0.00 | No Decline | 72.44 |
Bajaj Hindusthan Sugar | Consumer Goods | 5,116.00 | 2.99 | 1.79 | 20.94-0.46 (-2.15%) | 0.00 | 44.63 | 1,668.71 | 3,561.17 | 3,553.21 | 3,851.15 | 4,243.82 | 4,802.32 | 0.00 | No Decline | 25.84 |
Jain Irrigation Systems | Industrial Products | 2,145.26 | 7.89 | 0.73 | 29.71-0.31 (-1.03%) | 0.00 | -30.94 | 1,823.97 | 1,282.30 | 1,464.90 | 1,386.00 | 3,564.36 | 2,491.73 | 1.00 | 1 Year Decline | 48.54 |
Cipla | Healthcare | 1,10,941.40 | 22.83 | 0.02 | 1,366.00-7.30 (-0.53%) | 0.94 | 33.22 | 6,464.26 | 11.98 | 0.00 | 0.00 | 416.24 | 1,202.75 | 0.00 | No Decline | 99.00 |
Shipping Corporation of India | Transport Services | 13,284.59 | 10.18 | 0.28 | 280.60-4.60 (-1.61%) | 2.63 | 8.21 | 1,513.21 | 1,509.03 | 1,565.59 | 1,659.15 | 2,146.19 | 2,663.78 | 4.00 | 3 Year Decline | 43.35 |
Varun Beverages | Beverages | 1,38,843.30 | 23.89 | 0.15 | 416.50+6.00 (+1.46%) | 0.36 | 40.80 | 6,574.19 | 840.69 | 3,188.94 | 1,727.02 | 1,813.33 | 1,979.62 | 1.00 | 1 Year Decline | 57.53 |
JK Paper | Forest Materials | 7,527.40 | 9.98 | 0.40 | 414.25-0.90 (-0.22%) | 0.96 | 22.98 | 1,965.95 | 1,274.33 | 1,630.26 | 2,082.91 | 2,608.57 | 2,345.29 | 3.00 | 3 Year Decline | 45.66 |
Tata Chemicals | Chemicals | 15,554.10 | 3.69 | 0.39 | 612.45+1.90 (+0.31%) | 1.80 | -7.89 | 3,438.00 | 4,166.00 | 2,898.00 | 5,540.00 | 3,725.46 | 5,199.48 | 0.00 | No Decline | 19.88 |
Anant Raj | Realty | 21,911.11 | 10.57 | 0.12 | 598.35-10.50 (-1.72%) | 0.16 | 37.74 | 646.81 | 389.20 | 467.38 | 874.38 | 900.08 | 1,410.84 | 4.00 | 3 Year Decline | 72.41 |
Birla Corporation | Construction | 6,443.04 | 7.50 | 0.56 | 825.15-11.55 (-1.38%) | 1.49 | 11.64 | 2,836.12 | 2,665.36 | 3,185.26 | 3,838.30 | 3,790.59 | 3,604.40 | 2.00 | 2 Year Decline | 26.05 |
Consistent deleveraging often indicates strong operational cash flow and disciplined capital allocation.
Reduced interest expenses can directly boost net profit margins and earnings per share.
Companies with lower debt levels are generally more resilient during economic downturns or interest rate hikes.
Debt reduction funded by selling core assets may harm long-term growth prospects.
Aggressive repayment might indicate a lack of internal investment opportunities or growth capex cuts.
Some companies may use equity dilution to pay down debt, which can reduce existing shareholder value.
It finds companies that have successfully lowered their total borrowings over multiple consecutive financial years.