Indian High Return On Equity, Low Debt

ESAB India

Market Cap: ₹78.1b

Manufactures and sells welding and cutting equipment and consumables in India and internationally.

Banco Products (India)

Market Cap: ₹77.1b

Engages in the manufacture and sale of heat exchangers/cooling systems in India and internationally.

Jeena Sikho Lifecare

Market Cap: ₹67.1b

Trades in ayurvedic medicines in India.

Shilchar Technologies

Market Cap: ₹59.7b

Engages in the manufacture and sale of transformers and parts in India.

SML Isuzu

Market Cap: ₹57.0b

Manufactures and sells commercial vehicles and related parts in India and internationally.

Crizac

Market Cap: ₹52.7b

Provides educational consultancy services in India and internationally.

Ashoka Buildcon

Market Cap: ₹50.5b

Engages in the infrastructure development business in India.

Swaraj Engines

Market Cap: ₹48.3b

Manufactures and sells diesel engines and its engine components, hi-tech engine, and spare parts for tractors in India.

Hawkins Cookers

Market Cap: ₹45.5b

Manufactures, trades, and sells kitchenware in India.

Network People Services Technologies

Market Cap: ₹42.0b

Develops payments infrastructure for banks, payment aggregators, and merchants in India.

MPS

Market Cap: ₹40.1b

Provides platforms and services for content creation, full-service production, and distribution to the publishers, learning companies, corporate institutions, libraries, and content aggregators in India, Europe, the United States, and internationally.

Jubilant Agri and Consumer Products

Market Cap: ₹38.0b

Manufactures and sells performance polymers, chemicals, and agri-products in India and internationally.

RPG Life Sciences

Market Cap: ₹37.9b

An integrated pharmaceutical company, develops, manufactures, and markets branded formulations, generic, and synthetic active pharmaceutical ingredients (APIs) in India and internationally.

D. P. Abhushan

Market Cap: ₹37.4b

Engages in the manufacturing, sale, and trading of gold, diamond, platinum, silver, and other precious metals and ornaments in India.

Alpex Solar

Market Cap: ₹32.7b

Designs, manufactures, and sells power photovoltaic (PV) modules and solar systems in India.

Navneet Education

Market Cap: ₹31.1b

Engages in publishing state board publication books and stationery products in India, North and Central America, Africa, Europe, and internationally.

Sharda Motor Industries

Market Cap: ₹29.9b

Manufactures, assembles, trades in, and sells auto components to automobiles and electronics original equipment manufacturers in India.

Rajesh Power Services

Market Cap: ₹27.8b

Provides turnkey projects services in India.

GHV Infra Projects

Market Cap: ₹25.6b

Does not have significant operations.

Algoquant Fintech

Market Cap: ₹21.7b

Engages in the trading of financial instruments in India.

Accelya Solutions India

Market Cap: ₹20.7b

Engages in the provision of software solutions to the airline, cargo, and travel industries in the Asia Pacific, the Middle East, Africa, the Americas, and Europe.

Afcom Holdings

Market Cap: ₹20.1b

Provides air cargo services in Asian Countries.

Indian Hume Pipe

Market Cap: ₹19.3b

Engages in construction contract activities in India.

Kernex Microsystems (India)

Market Cap: ₹19.1b

Engages in the manufacture and sale of safety systems for railways in India and internationally.

Danish Power

Market Cap: ₹17.9b

Manufactures and sells power equipment in India.

Kesar India

Market Cap: ₹16.4b

Operates as a real estate development company in India.

Jyoti Resins and Adhesives

Market Cap: ₹16.2b

Manufactures synthetic resin and wood adhesives in India.

DAM Capital Advisors

Market Cap: ₹15.2b

Provides investment banking services.

Blue Cloud Softech Solutions

Market Cap: ₹12.7b

Engages in design, development, and marketing of computer software in India and internationally.

Dynacons Systems & Solutions

Market Cap: ₹12.6b

Provides IT solutions in India and internationally.

Amal

Market Cap: ₹11.8b

Manufactures and markets bulk chemicals in India.

Arrow Greentech

Market Cap: ₹11.7b

Engages in the manufacture and sale of water-soluble films, and bio-compostable and other green products in India and internationally.

Australian Premium Solar (India)

Market Cap: ₹10.2b

Manufactures and sells monocrystalline and polycrystalline solar panels in India.

Tuticorin Alkali Chemicals and Fertilizers

Market Cap: ₹9.9b

Engages in the manufacturing and selling soda ash and ammonium chloride fertilizer in India.

TAC Infosec

Market Cap: ₹9.1b

Provides vulnerability assessment and assessment solutions, cybersecurity quantification, and services of penetration testing to organizations in India and internationally.

Monolithisch India

Market Cap: ₹8.7b

Manufactures, trades in, and supplies ramming mass in India and Nepal.