Hidden Value? 8 stocks with enterprise value higher than market cap – Hidden Leverage

A high EV to MCAP ratio suggests that a company carries significant debt or liabilities relative to its market value, indicating increased financial risk. Among Nifty200 stocks, eight companies stand out with enterprise values significantly higher than their market capitalisation (EV as of September ’25), based on StockEdge’s valuation scan data.

This could also mean the company has limited cash reserves or a disproportionately high enterprise value compared to its equity, possibly affecting investor confidence and the company’s market value. Enterprise Value (EV) is the total value of a company, including its market capitalisation, debt, and excluding cash. It represents the cost of acquiring the entire business.