Synopsis: Four companies have sharply reduced their debt by up to 100% since March 2023, strengthening balance sheets, lowering leverage, and improving financial flexibility with healthy cash reserves.
Companies that steadily reduce their debt often become financially stronger over time. Lower borrowing means less interest burden, healthier cash flows, and greater flexibility to invest in growth, making such businesses attractive for investors looking for fundamentally stable and improving companies.
Over the past two and a half years, from March 2023 to September 2025, several companies in India have significantly brought down their borrowings, with some even turning completely debt-free. Such a sharp reduction in leverage not only improves financial stability but also enhances investor confidence by signalling stronger cash flows and prudent capital management.
Incorporated in 1980, GPT is the flagship company of GPT Group, basedout of Kolkata. GPT, a premier infrastructure company, operates through two segments– Infrastructure andSleeper. The company made inroads into the infrastructure segment in 2004 and is now an established railway-focused player, engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs forRailways. In the Sleeper segment, the company manufactures and supplies concrete sleepers for Railways in India andAfrica.
With the market capitalization of Rs 1,339 crore, the shares of this company closed at Rs 106 per share, down 6.65 percent from its previous day’s close. The company has reduced its debt to Rs 180 crore in September 2025 from Rs 252 crore, a 28.5 percent decline since March 2023, while maintaining a cash position of Rs 15 crore as of Q3 FY26, indicating improved balance sheet strength, lower leverage, and stronger financial flexibility.
The Bombay Burmah Trading Corporation Ltd
Founded in the year 1863, Bombay Burmah Trading Corporation Limited (BBTCL) is a flagship Company of the Wadia Group. Currently, BBTCL has its presence in diversified businesses of Tea, Coffee, other plantation products, Biscuits, Dairy products, Auto electric and White goods, weighing products, horticulture, Healthcare products, Dental, orthopaedic, and ophthalmic products.
With the market capitalization of Rs 10,757 crore, the shares of this company closed at Rs 1,541.80 per share, down by 4.94 percent from its previous day’s close. The company has reduced its debt to Rs 2,464 crore in September 2025 from Rs 6,542 crore, a 62.3 percent decline since March 2023, while maintaining a cash position of Rs 989 crore as of Q3 FY26, indicating improved balance sheet strength, lower leverage, and stronger financial flexibility.
Force Motors Ltd
Force Motors Ltd was established in 1958 and is the flagship company of the Abhay Firodia group. The company is in the business of manufacturing fully vertically integrated small and light CVs, multi-utility vehicles, and agricultural tractors, which it supplies to various countries in the Middle East, Asia, Latin America, and Africa
With the market capitalization of Rs 26,908 crore, the shares of this company closed at Rs 20,646.90 per share, down by 3.22 percent from its previous day’s close. The company has reduced its debt to zero in September 2025 from Rs 955 crore, a 100 percent decline since March 2023, while maintaining a cash position of Rs 505 crore as of Q3 FY26, indicating improved balance sheet strength, lower leverage, and stronger financial flexibility.
Trent Ltd
Trent Ltd, a Tata Group company established in 1998 and headquartered in Mumbai, is a leading Indian retail player specialising in fashion and lifestyle, food, and grocery. Operating over 1,000 stores, its core brands include Westside (lifestyle fashion), Zudio (value fashion), and Star Bazaar.
With the market capitalization of Rs 1,30,897 crore, the shares of this company closed at Rs 3,682.20 per share, down by 1.08 percent from its previous day’s close. The company has reduced its debt to Rs 2,349 crore in September 2025 from Rs 4,464 crore, a 47.3 percent decline since March 2023, while maintaining a cash position of Rs 195 crore as of Q3 FY26, indicating improved balance sheet strength, lower leverage, and stronger financial flexibility.
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