Indef Manufacturing Limited

NSE: BAJAJINDEF · Industrial Products

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52W Range₹171 – ₹383

Snapshot

Unlock Indef Manufacturing Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Indef Manufacturing Limited specialises in the provision of material handling solutions, including the design and manufacture of mechanical hoists, EOT cranes, and ergonomic handling equipment. The company serves a diverse industrial client base across sectors such as oil and gas, automotive, and metals.

Business Model

The company generates revenue through the manufacturing, distribution, and marketing of industrial lifting and storage equipment. It operates as a solution provider for material handling requirements across various heavy and light engineering industries.

Growth Outlook

Growth is expected to be driven by the increasing demand for industrial automation and infrastructure development within the Indian manufacturing sector. The company's focus on diverse industrial applications positions it to benefit from broader capital expenditure cycles.

Key Risks

  • Cyclical Demand. The company's performance is highly sensitive to capital expenditure cycles in the industrial and manufacturing sectors.
  • Raw Material Price Volatility. Fluctuations in the cost of steel and other essential raw materials can significantly impact manufacturing margins.
  • Competitive Intensity. The material handling equipment market is highly competitive, with pressure from both domestic players and international imports.
  • Operational Risks. Dependence on efficient supply chain management and technical precision in manufacturing poses inherent operational challenges.

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Key Metrics

P/E

25.1×

Q1 FY27 · consolidated

25.1 vs 22.6x5Y avg

EV/EBITDA

19.3x

Q1 FY27 · consolidated

19.3 vs 16.5x5Y avg

NET PROFIT MARGIN

15.9%

Q1 FY27 · consolidated

+1.7 ppYoY

DEBT TO EQUITY

0.0x

Q1 FY27 · consolidated

+0.00xYoY

Peers · Industrial Products

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indef Manufacturing LimitedBAJAJINDEF
₹589 Cr25.1×19.30—14.9%8.6%8.3%-52.0%
Danlaw Technologies India Ltd.DANLAW
₹632 Cr24.8×14.8224.4%15.4%28.8%32.5%+74.3%
Axtel IndustriesAXTEL
₹624 Cr20.0×12.9142.1%20.6%25.3%32.8%-20.0%
MazdaMAZDA
₹595 Cr19.9×13.0817.4%18.5%12.5%16.5%+10.4%
Satani BearingsSATANIBRG
₹588 Cr———-4300.0%314.3%275.0%—
Cospower Engineering LimitedCOSPOWER
₹550 Cr———21.0%———

As of Q1 FY27

Financials