Indo Farm Equip.

NSE: INDOFARM · Tractors

52W Range₹111 ₹272

Snapshot

Unlock Indo Farm Equip.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Indo Farm Equipment Limited is an Indian manufacturer specialising in agricultural, industrial, and construction machinery, including tractors, harvesters, and cranes. The company operates across diverse segments such as tractors, cranes, and financial services, with an export footprint spanning 30 countries.

Business Model

The company generates revenue through the manufacturing and sale of agricultural and construction equipment, complemented by an NBFC arm that provides financing and refinancing for tractor purchases.

Growth Outlook

Growth is driven by the expansion of its agricultural equipment portfolio and the leveraging of its NBFC segment to facilitate product sales through financing solutions.

Key Risks

  • Cyclical Agricultural Demand. The company's performance is highly sensitive to seasonal agricultural cycles and rural economic conditions in India.
  • Credit Risk. The NBFC segment exposes the company to potential defaults on tractor financing and refinancing loans.
  • Raw Material Price Volatility. Fluctuations in the cost of steel and other industrial components can significantly impact manufacturing margins.
  • Geopolitical Export Risks. Operating across 30 countries exposes the company to currency fluctuations and international trade policy changes.

Price

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Key Metrics

P/E

31.9x

Q4 FY26 · consolidated

31.9 vs 28.2x5Y avg

EV/EBITDA

13.4x

Q4 FY26 · consolidated

13.4 vs 14.8x5Y avg

NET PROFIT MARGIN

6.5%

Q4 FY26 · consolidated

-3.9 ppYoY

DEBT TO EQUITY

0.3x

Q4 FY26 · consolidated

-0.05xYoY

Peers · Tractors

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Indo Farm Equip.INDOFARM
58431.8913.3514.7%4.6%8.7%-17.4%
Escorts Kubota Ltd.ESCORTS
32,57823.7115.6413.2%17.9%22.0%16.3%-12.3%
V.S.T. Tillers Tractors LimitedVSTTILLERS
4,41537.9423.08-58.2%13.7%10.2%13.3%+7.6%

As of Q4 FY26

Financials