There are many but from the same space you can look at Voltamp and Techno Electric. Check the trends in working capital and cash conversion cycles. Zero debt, healthy cash flow generation and run by good management. In the capital sector you can look at names such as Triveni Turbine, KEI industries etc. Very healthy balance sheet and working capital management.
Then there are names from highly cash guzzling and low ROCE sectors like construction such as NCC. They do lots of projects for government customers who are known for delaying/withholding payments. Company is focused on strengthening balance sheet through prudent working capital management and it reflects in their continuously declining debt.
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