India’s defence sector is gaining momentum, backed by government initiatives and rising domestic production. Amid this growth, debt-free defence companies offer a unique investment edge, combining financial stability with opportunities in a high-demand, strategic industry.
These debt-free firms stand out for their strong balance sheets, operational efficiency, and consistent performance. As the sector expands, investors are increasingly eyeing such companies for their long-term potential and lower risk profiles. Here are three defence stocks worth watching.
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Mazagon Dock
On April 11, 2025, Mazagon Dock Shipbuilders Ltd opened at ₹2,447.95, up 3.20% from its previous close of ₹2,371.90. The stock touched a high of ₹2,472.00 (4.22%) and a low of ₹2,403.00. By 4:01 PM, it traded at ₹2,432.35, marking a 2.55% gain, with a market cap of ₹98,116.13 crore.
Mazagon Dock Shipbuilders Ltd maintains a strong financial position with a debt-to-equity ratio of 0.00, highlighting its completely debt-free status and financial stability in the defence sector.
Mazagon Dock Shipbuilders Ltd (NSE: MAZDOCK) is a leading defence shipyard in India, known for building destroyers, submarines, and other naval vessels, playing a critical role in strengthening India’s maritime defence capabilities and indigenization efforts.
HAL
On April 11, 2025, Hindustan Aeronautics Ltd opened at ₹4,087.95, up 1.41% from its previous close of ₹4,031.05. The stock reached a high of ₹4,140.95 (2.73%) and a low of ₹4,065.75. By 4:01 PM, it traded at ₹4,104.90, marking a 1.83% gain, with a market cap of ₹2,74,525.45 crore.
Hindustan Aeronautics Ltd maintains a strong financial position with a debt-to-equity ratio of 0.00, highlighting its debt-free status and sound balance sheet in the defence manufacturing sector.
Hindustan Aeronautics Ltd (NSE: HAL) is India’s premier aerospace and defence company, specializing in the design, manufacture, and maintenance of aircraft, helicopters, engines, and avionics for the Indian Armed Forces, contributing heavily to defence self-reliance.
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BEL
On April 11, 2025, Bharat Electronics Ltd opened at ₹283.35, up 1.12% from its previous close of ₹280.20. The stock touched a high of ₹286.90 (2.39%) and a low of ₹282.80. By 4:01 PM, it traded at ₹285.00, marking a 1.71% gain, with a market cap of ₹2,08,328.70 crore.
Bharat Electronics Ltd showcases robust financial health with a debt-to-equity ratio of 0.00, confirming its debt-free status and reinforcing investor confidence in the defence PSU’s stability.
Bharat Electronics Ltd (NSE: BEL) is a Navratna defence PSU engaged in developing advanced electronic equipment, including radars, missile systems, and communication tools, supporting India’s strategic defence infrastructure with strong R&D and indigenous production.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
