Debt-free small caps with rising profits

Seventeen debt-free small caps with rising quarterly profits, spread broadly across diversified industrial niches.

The kept basket is a set of low-leverage, sub-₹5,000 Cr companies whose latest quarter showed profit growth, spanning software, auto components, power equipment, agri-chemicals, sugar, and consumer niches. Mcap weighting shows no single theme dominating, though software, auto components, and heavy electrical equipment each contribute about 12%. The screen selects for balance-sheet strength and recent earnings momentum rather than a common macro driver, so the basket behaves more like a diversified small-cap quality sleeve than a thematic bet.

• Profit-growth screen uses only the latest quarter, so it does not confirm sustained multi-year earnings growth; 5-year PAT CAGR is missing for 7 of 17 names.
• Cyclical exposure is high across auto components, sugar, agri-chemicals, oil and gas, and power equipment, so a downturn in these end markets would hit several holdings at once.
• Data quality is uneven: HAWKINCOOK beta of 27.75, SUBROS and ANTELOPUS beta of 0.0, and CAPILLARY PE of 105.7x look like outliers that should be verified before use.
• Price momentum is highly dispersed: several names are down over 35% in one year (LATENTVIEW, AHLUCONT, DHANUKA, SUBROS) while ANTELOPUS, GVPIL and FILATEX are up near 100%, so the basket's return profile depends heavily on stock selection.