Debt-Free Midcap Stocks in the Indian Market (as of recent trends): 1:- *Central Depository Services Ltd* (CDSL) Industry: Financial Services Why Debt-Free?: CDSL operates as a depository for electronic securities, generating strong cash flows with minimal need for borrowing. Key Insight: Known for consistent revenue growth and a dominant position in India’s capital markets. Computer Age Management Services Ltd. (CAMS) Industry: Financial Services Why Debt-Free?: Provides mutual fund transfer agency services with a stable, cash-rich business model. Key Insight: Benefits from the growing mutual fund industry in India. 2:- *Vinati Organics Ltd* Industry: Chemicals Why Debt-Free?: A leading manufacturer of specialty chemicals with robust profitability and efficient operations. Key Insight: Strong export focus and market leadership in key products. 3:- *Castrol India Ltd* Industry: Lubricants Why Debt-Free?: Backed by BP Group, it enjoys steady cash flows from its lubricant business. Key Insight: Reliable performer with a strong brand presence. Clean Science and Technology Ltd. Industry: Chemicals Why Debt-Free?: Focuses on green chemistry and high-margin products, leading to financial independence. Key Insight: Attractive for investors seeking sustainable growth. 5:- *Tata Investment Corporation Ltd* Industry: Investment Holding Why Debt-Free?: An NBFC focused on long-term investments, with no significant borrowing needs. Key Insight: Part of the Tata Group, offering stability and diversified exposure. 6:- *Rossari Biotech Ltd* Industry: Specialty Chemicals Why Debt-Free?: Strong growth in textile and specialty chemicals with efficient capital management. Key Insight: A relatively newer player with high growth potential. UTI Asset Management Company Ltd. (UTI AMC) Industry: Asset Management Why Debt-Free?: Operates in the mutual fund space with a cash-generative business model. Key Insight: Benefits from increasing financial literacy and investment in India. 7:- *Lakshmi Machine Works Ltd* Industry: Machinery Why Debt-Free?: A leader in textile machinery with a strong balance sheet and minimal liabilities. Key Insight: Steady performer in a niche industrial segment. 8:- *Garware Hi-Tech Films Ltd* Industry: Manufacturing (Polyester Films) Why Debt-Free?: Produces specialty films with high margins and no reliance on debt. Key Insight: Significant returns in recent years due to unique product offerings. Things to Keep in Mind: