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2 near zero-debt defence giants posting 30% ROCE while trading at a sector discount

Posted on June 21, 2026
By Financial Express
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1 min read

2 near zero-debt defence giants posting 30% ROCE while trading at a sector discount

Zero debt, returns on capital over 30%, profit compounding faster than most consumer franchises. So why are India's two apex defence PSUs trading well below the sector they dominate?