Archive · 28 Dec 2025
Two Smallcap Stocks Shine with Zero Debt
Two small companies in India, Jyoti Resins and Garuda Construction, are doing really well.
They don't have any debt, which means they don't have to pay a lot of interest.
This helps them make more money.
Jyoti Resins makes glue for wood and has grown a lot in the last few years.
Garuda Construction builds things like houses and buildings and also makes good money.
Both companies are growing and have plans to keep doing well.
Some people think these companies might be good to invest in, but they should do more research first.
Jyoti Resins and Adhesives Ltd is a manufacturer of synthetic resin adhesives with a market cap of Rs 1,336 cr and a current ROCE of 50%.
Garuda Construction and Engineering Ltd specializes in civil construction services with a market cap of Rs 1,832 cr and a current ROCE of 30%.
Both companies are debt-free, allowing them to use profits for growth and investor returns.
Jyoti Resins has shown strong financial growth with a 31% CAGR in sales and a 56% CAGR in net profits from FY20 to FY25.
Garuda Construction has demonstrated robust financial performance with a 13% CAGR in sales and a 118% CAGR in net profits from FY20 to FY25.
- Who
- Jyoti Resins and Adhesives Ltd and Garuda Construction and Engineering Ltd
- What
- Two smallcap companies with zero debt and high ROCE
- When
- Financial data from FY20 to H1FY26
- Where
- India
- Why
- To highlight capital-efficient smallcap companies with strong financials and growth potential
- Company 1
- Jyoti Resins and Adhesives Ltd
- Market Cap 1
- Rs 1,336 cr
- Current ROCE 1
- 50%
- 5-Year Avg ROCE 1
- 55%
- Sales Growth 1 (FY20-FY25)
- 31% CAGR
- EBITDA Growth 1 (FY20-FY25)
- 49% CAGR
- Net Profit Growth 1 (FY20-FY25)
- 56% CAGR
- Share Price Growth 1 (2020-2025)
- 830%
- Current PE 1
- 18x
- Company 2
- Garuda Construction and Engineering Ltd
- Market Cap 2
- Rs 1,832 cr
- Current ROCE 2
- 30%
- 5-Year Avg ROCE 2
- 52%
- Sales Growth 2 (FY20-FY25)
- 13% CAGR
- EBITDA Growth 2 (FY20-FY25)
- 75% CAGR
- Net Profit Growth 2 (FY20-FY25)
- 118% CAGR
- Share Price Growth 2 (2024-2025)
- 90%
- Current PE 2
- 21x
- Order Book 2 (2025)
- Rs 3,461 cr