Indef Manufacturing Limited

NSE: BAJAJINDEF · Industrial Products

52W Range₹207 ₹443

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

30.4x

Q1 FY27 · consolidated

30.4 vs 27.3x5Y avg

EV/EBITDA

23.4x

Q1 FY27 · consolidated

23.4 vs 20.0x5Y 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/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indef Manufacturing LimitedBAJAJINDEF
₹713 Cr30.3823.4014.9%8.6%8.3%-38.0%
Lokesh Machines LimitedLOKESHMACH
₹776 Cr166.4823.451.0%18.7%2.0%8.3%+79.9%
Bajaj Steel Industries LimitedBAJAJST
₹755 Cr20.1310.39-10.4%13.9%9.1%12.6%-32.3%
Forbes Precision Tools and Machine Parts LimitedTOTEM
₹710 Cr24.7112.691.6%22.6%17.2%21.9%-19.4%
Kalyani Cast-TecKALYANI
₹701 Cr6.0258.3766.2%2.1%11.9%51.4%+80.7%
Kanoria Chemicals & Industries LimitedKANORICHEM
₹680 Cr4.397.56-22.8%10.2%28.0%10.5%+88.6%

As of Q1 FY27

Financials