Debt-free (net cash) companies on PSX

PSX companies holding more cash than debt, ranked by their net cash. Oil & Gas Development Company Limited (OGDC) leads the list at Rs 330.5 bn.

How this list is built: Cash and short-term investments above total debt in the latest balance sheet. Industrial and commercial companies. Only companies with results from the last two years (and, for price-based lists, a trade in the last month) are included. Figures are as reported: an unusually high value often reflects a one-off dividend or gain, so check the company's history before reading too much into it. What is Net debt and net cash?

Debt-free (net cash) companies on PSX
#		Sector
1	OGDC Oil & Gas Development Company Limited	Oil & Gas Exploration Companies	Rs 330.5 bn	Rs 302.11	Rs 1.30 tn	5.4×	5.6%	16.9%
2	FFC Fauji Fertilizer Company Limited	Fertilizer	Rs 128.0 bn	Rs 538.00	Rs 774.2 bn	8.8×	6.9%	33.2%
3	POL Pakistan Oilfields Limited	Oil & Gas Exploration Companies	Rs 117.4 bn	Rs 671.01	Rs 190.5 bn	5.6×	14.9%	38.2%
4	ATRL Attock Refinery Limited	Refinery	Rs 116.5 bn	Rs 1,215.00	Rs 129.5 bn	5.0×	1.4%	15.6%
5	INDU Indus Motor Company Limited	Automobile Assembler	Rs 111.6 bn	Rs 1,797.92	Rs 141.3 bn	5.5×	10.8%	31.1%
6	PPL Pakistan Petroleum Limited	Oil & Gas Exploration Companies	Rs 104.1 bn	Rs 219.86	Rs 598.2 bn	6.1×	5.5%	13.2%
7	ATLH Atlas Honda Limited	Automobile Assembler	Rs 70.2 bn	Rs 1,565.11	Rs 194.2 bn	8.7×	6.5%	51.0%
8	MARI Mari Energies Limited	Oil & Gas Exploration Companies	Rs 51.9 bn	Rs 633.13	Rs 760.2 bn	8.7×	4.3%	29.2%
9	APL Attock Petroleum Limited	Oil & Gas Marketing Companies	Rs 35.5 bn	Rs 531.03	Rs 66.1 bn	3.9×	11.3%	24.6%
10	KOHC Kohat Cement Company Limited	Cement	Rs 30.9 bn	Rs 84.15	Rs 77.4 bn	7.2×	0.0%	20.1%
11	COLG Colgate-Palmolive (Pakistan) Limited	Food & Personal Care Products	Rs 26.7 bn	Rs 1,106.99	Rs 268.7 bn	14.4×	5.8%	47.3%
12	THALL Thal Limited	Automobile Parts & Accessories	Rs 20.2 bn	Rs 508.00	Rs 41.2 bn	3.9×	5.9%	18.5%
13	FATIMA Fatima Fertilizer Company Limited	Fertilizer	Rs 17.6 bn	Rs 138.74	Rs 291.4 bn	6.4×	4.3%	26.8%
14	GHNI Ghandhara Industries Limited	Automobile Assembler	Rs 15.4 bn	Rs 1,030.00	Rs 43.9 bn	6.3×	1.2%	38.6%
15	PNSC Pakistan National Shipping Corporation	Transport	Rs 13.3 bn	Rs 551.05	Rs 109.2 bn	5.1×	3.6%	19.8%
16	PKGP Pakgen Power Limited	Power Generation & Distribution	Rs 12.9 bn	Rs 33.75	Rs 12.6 bn	—	5.9%	-1.6%
17	ABOT Abbott Laboratories (Pakistan) Limited	Pharmaceuticals	Rs 12.8 bn	Rs 938.50	Rs 91.9 bn	10.7×	4.3%	28.8%
18	SYS Systems Limited	Technology & Communication	Rs 11.7 bn	Rs 116.74	Rs 172.0 bn	15.5×	1.7%	25.3%
19	PABC Pakistan Aluminium Beverage Cans Limited	Miscellaneous	Rs 11.5 bn	Rs 94.00	Rs 33.9 bn	8.1×	0.0%	27.0%
20	NESTLE Nestle Pakistan Limited	Food & Personal Care Products	Rs 10.3 bn	Rs 7,000.00	Rs 317.4 bn	18.9×	8.0%	86.5%
21	CHCC Cherat Cement Company Limited	Cement	Rs 9.7 bn	Rs 270.88	Rs 52.6 bn	7.3×	2.0%	19.9%
22	AHCL Arif Habib Corporation Limited	Fertilizer	Rs 9.5 bn	Rs 15.25	Rs 64.3 bn	4.1×	8.2%	27.4%
23	MUREB Murree Brewery Company Limited	Food & Personal Care Products	Rs 9.4 bn	Rs 899.00	Rs 24.9 bn	6.6×	4.6%	19.9%
24	HABSM Habib Sugar Mills Limited	Sugar & Allied Industries	Rs 9.3 bn	Rs 79.94	Rs 10.8 bn	5.7×	7.5%	10.2%
25	LPL Lalpir Power Limited	Power Generation & Distribution	Rs 9.2 bn	Rs 18.52	Rs 5.2 bn	77.4×	0.0%	-6.2%
26	NATF National Foods Limited	Food & Personal Care Products	Rs 9.1 bn	Rs 315.10	Rs 73.5 bn	2.8×	9.5%	24.8%
27	SAZEW Sazgar Engineering Works Limited	Automobile Assembler	Rs 8.8 bn	Rs 1,536.00	Rs 92.8 bn	3.9×	4.6%	70.8%
28	GLAXO GlaxoSmithKline Pakistan Limited	Pharmaceuticals	Rs 8.2 bn	Rs 312.07	Rs 99.4 bn	9.5×	5.4%	32.4%
29	HALEON Haleon Pakistan Limited	Pharmaceuticals	Rs 7.4 bn	Rs 676.99	Rs 79.2 bn	12.0×	4.4%	47.6%
30	LOTCHEM Lotte Chemical Pakistan Limited	Chemical	Rs 7.1 bn	Rs 25.60	Rs 38.8 bn	7.6×	19.5%	4.9%
31	ALTN Altern Energy Limited	Power Generation & Distribution	Rs 7.1 bn	Rs 6.50	Rs 2.4 bn	—	0.0%	-17.4%
32	SIEM Siemens (Pakistan) Engineering	Cable & Electrical Goods	Rs 6.3 bn	Rs 1,567.00	Rs 12.9 bn	15.6×	0.0%	1.8%
33	GAL Ghandhara Automobiles Limited	Automobile Assembler	Rs 5.9 bn	Rs 489.50	Rs 27.9 bn	4.3×	2.5%	36.2%
34	GHGL Ghani Glass Limited	Glass & Ceramics	Rs 5.9 bn	Rs 39.22	Rs 39.2 bn	5.4×	8.9%	17.8%
35	AABS Al-Abbas Sugar Mills Limited	Sugar & Allied Industries	Rs 5.6 bn	Rs 707.30	Rs 12.3 bn	16.6×	7.1%	15.5%
36	GWLC Gharibwal Cement Limited	Cement	Rs 5.1 bn	Rs 44.70	Rs 17.9 bn	7.6×	0.0%	8.7%
37	DGKC D.G. Khan Cement Company Limited	Cement	Rs 4.8 bn	Rs 182.25	Rs 79.8 bn	6.8×	0.5%	10.8%
38	BRRG B.R.R Guardian Limited	Property	Rs 4.3 bn	Rs 39.50	Rs 3.8 bn	5.9×	1.3%	16.0%
39	HUMNL Hum Network Limited	Technology & Communication	Rs 4.2 bn	Rs 9.40	Rs 10.7 bn	39.9×	10.6%	2.3%
40	RMPL Rafhan Maize Products Company Limited	Food & Personal Care Products	Rs 3.8 bn	Rs 8,579.99	Rs 79.2 bn	12.1×	5.6%	23.3%
41	NETSOL NetSol Technologies Limited	Technology & Communication	Rs 3.8 bn	Rs 122.23	Rs 10.6 bn	4.5×	1.2%	19.5%
42	STYLERS Stylers International Limited	Textile Composite	Rs 3.4 bn	Rs 43.88	Rs 21.4 bn	19.4×	3.4%	8.0%
43	PICT Pakistan International Container	Transport	Rs 3.3 bn	Rs 45.84	Rs 5.0 bn	—	0.0%	-9.8%
44	THCCL Thatta Cement Company Limited	Cement	Rs 3.3 bn	Rs 66.50	Rs 28.2 bn	11.8×	0.3%	36.2%
45	SEPL Security Papers Limited	Paper, Board & Packaging	Rs 3.0 bn	Rs 134.48	Rs 8.0 bn	8.8×	6.7%	9.9%
46	CSAP Crescent Steel & Allied Products Limited	Engineering	Rs 2.9 bn	Rs 89.44	Rs 6.9 bn	4.5×	6.1%	15.3%
47	ZAL Zarea Limited	Technology & Communication	Rs 2.9 bn	Rs 38.00	—	7.2×	2.6%	—
48	HINOON Highnoon Laboratories Limited	Pharmaceuticals	Rs 2.8 bn	Rs 931.50	Rs 49.4 bn	12.5×	5.4%	32.3%
49	SURC Suraj Cotton Mills Limited	Textile Composite	Rs 2.6 bn	Rs 130.05	Rs 6.3 bn	3.5×	7.7%	12.4%
50	DCR Dolmen City REIT	Real Estate Investment Trust	Rs 2.3 bn	Rs 39.62	Rs 88.1 bn	7.0×	0.0%	15.9%

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