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Indef Manufacturing Overview

​Indef Manufacturing Limited (IML) is a prominent Indian manufacturer specializing in material handling solutions, including cranes, hoists, and storage systems. Established in 1962 as Hercules Hoists Limited, the company underwent a strategic demerger in 2024, transitioning into an independent entity under the Bajaj Indef brand . This restructuring aimed to enhance operational efficiency and focus on core manufacturing operations. IML\'s product portfolio encompasses a wide range of equipment, such as mechanical hoists, electric chain hoists...Read More

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Indef Manufacturing Key Financials

Market Cap ₹958 Cr.

Stock P/E 28

P/B 3.6

Current Price ₹299.2

Book Value ₹ 82.1

Face Value 1

52W High ₹580.9

Dividend Yield 0.67%

52W Low ₹ 202.1

Indef Manufacturing Share Price

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Volume
Price

Indef Manufacturing Quarterly Price

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Indef Manufacturing Peer Comparison

Indef Manufacturing Quarterly Results

#(Fig in Cr.) Dec 2023 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 0 43 45 53 40 49
Other Income 0 6 3 4 5 3
Total Income 0 49 48 57 45 52
Total Expenditure 0 36 37 42 36 43
Operating Profit 0 13 11 15 9 9
Interest 0 0 0 0 0 0
Depreciation 0 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 0 11 9 14 8 7
Provision for Tax 0 -0 2 3 2 1
Profit After Tax 0 11 7 10 6 6
Adjustments 0 0 0 0 0 0
Profit After Adjustments 0 11 7 10 6 6
Adjusted Earnings Per Share 0 3.5 2.2 3.2 1.8 2

Indef Manufacturing Profit & Loss

#(Fig in Cr.) Mar 2025 TTM
Net Sales 179 187
Other Income 17 15
Total Income 196 202
Total Expenditure 148 158
Operating Profit 48 44
Interest 0 0
Depreciation 5 4
Exceptional Income / Expenses 0 0
Profit Before Tax 42 38
Provision for Tax 8 8
Profit After Tax 34 29
Adjustments 0 0
Profit After Adjustments 34 29
Adjusted Earnings Per Share 10.7 9.2

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% 0% 0% 0%
Operating Profit CAGR 0% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 32% NA% NA% NA%
ROE Average 14% 14% 14% 14%
ROCE Average 17% 17% 17% 17%

Indef Manufacturing Balance Sheet

#(Fig in Cr.) Mar 2025
Shareholder's Funds 253
Minority's Interest 0
Borrowings 0
Other Non-Current Liabilities 16
Total Current Liabilities 33
Total Liabilities 301
Fixed Assets 35
Other Non-Current Assets 203
Total Current Assets 63
Total Assets 301

Indef Manufacturing Cash Flow

#(Fig in Cr.) Mar 2025
Opening Cash & Cash Equivalents 12
Cash Flow from Operating Activities 5
Cash Flow from Investing Activities -10
Cash Flow from Financing Activities -2
Net Cash Inflow / Outflow -7
Closing Cash & Cash Equivalent 6

Indef Manufacturing Ratios

# Mar 2025
Earnings Per Share (Rs) 10.68
CEPS(Rs) 12.29
DPS(Rs) 2
Book NAV/Share(Rs) 79.03
Core EBITDA Margin(%) 17.12
EBIT Margin(%) 23.72
Pre Tax Margin(%) 23.48
PAT Margin (%) 19.12
Cash Profit Margin (%) 22.02
ROA(%) 11.33
ROE(%) 13.51
ROCE(%) 16.76
Receivable days 65.43
Inventory Days 45.32
Payable days 88.56
PER(x) 24.36
Price/Book(x) 3.29
Dividend Yield(%) 0.77
EV/Net Sales(x) 4.62
EV/Core EBITDA(x) 17.37
Net Sales Growth(%) 0
EBIT Growth(%) 0
PAT Growth(%) 0
EPS Growth(%) 0
Debt/Equity(x) 0
Current Ratio(x) 1.93
Quick Ratio(x) 1.26
Interest Cover(x) 99.68
Total Debt/Mcap(x) 0

Indef Manufacturing Shareholding Pattern

# Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 69.61 69.61 69.61 69.61 69.61
FII 1.57 1.59 1.56 1.56 1.57
DII 0 0 0 0 0.13
Public 28.81 28.8 28.83 28.83 28.69
Others 0 0 0 0 0
Total 100 100 100 100 100

Indef Manufacturing News

Indef Manufacturing Pros & Cons

Pros

  • Debtor days have improved from 88.56 to days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 14% over the last 3 years.
  • Stock is trading at 3.6 times its book value.
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