Indo Farm Equipments Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Crane: 52.0% • Tractors: 48.0%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 31.0% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.35x)
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
CONS
- Recent results are weak - TTM profit is down 37.9% versus prior year
- Company has a low return on equity of 4.8% over last 3 years
- Company has a low return on capital employed of 7.5%
- Equity base is being diluted - shares outstanding up 155.9%
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Growth is decelerating - 3Y profit CAGR (21.6%) trails the 5Y trend (31.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ESCORTS | 2987.00 | 24.16 | 33417.89 | 1.71 | 385.93 | -97.24 | 3207.55 | 28.30 | 16.08 | 11.05 |
| VSTTILLERS | 4077.80 | 32.39 | 3528.42 | 0.61 | 48.43 | 9.52 | 313.40 | 10.96 | 13.73 | 12.76 |
| INDOFARM | 144.15 | 27.80 | 692.66 | 0.00 | 56.57 | 941.04 | 1102.43 | 1045.25 | 7.44 | 13.12 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 70 | 81 | 91 | 125 | 91 | 99 | 101 | 129 | 105 | |
| 61 | 71 | 79 | 109 | 81 | 88 | 90 | 112 | 99 | |
| Operating Profit | 9 | 10 | 12 | 16 | 10 | 11 | 11 | 17 | 6 |
| OPM % | 12.94% | 12.74% | 13.29% | 12.53% | 11.49% | 10.66% | 10.69% | 12.84% | 5.86% |
| 1 | 0 | 0 | 2 | 1 | 2 | 1 | 1 | 1 | |
| Interest | 4 | 4 | 4 | 3 | 2 | 3 | 3 | 3 | 2 |
| Depreciation | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 4 |
| Profit before Tax | 3 | 5 | 5 | 12 | 6 | 6 | 7 | 12 | 7 |
| Tax % | 34.42% | 27.00% | 30.48% | -14.97% | 28.33% | 31.16% | 29.74% | 29.80% | 28.36% |
| Net Profit | 2 | 3 | 4 | 13 | 5 | 4 | 5 | 8 | 5 |
| 0.56 | 0.86 | 0.95 | 3.22 | 0.95 | 0.92 | 0.96 | 1.71 | 1.05 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 244 | 261 | 303 | 232 | 252 | 331 | 347 | 352 | 367 | 420 | 433 | |
| 214 | 230 | 271 | 206 | 222 | 295 | 305 | 305 | 320 | 371 | 389 | |
| Operating Profit | 30 | 30 | 31 | 26 | 30 | 36 | 42 | 48 | 47 | 48 | 44 |
| OPM % | 12.13% | 11.60% | 10.40% | 11.20% | 11.76% | 10.80% | 12.05% | 13.56% | 12.84% | 11.52% | 10.15% |
| 1 | 1 | 2 | 2 | 1 | 0 | 1 | 1 | 3 | 5 | 5 | |
| Interest | 13 | 13 | 13 | 14 | 14 | 14 | 16 | 17 | 14 | 10 | 10 |
| Depreciation | 8 | 8 | 9 | 8 | 8 | 9 | 9 | 10 | 11 | 12 | 13 |
| Profit before Tax | 9 | 10 | 11 | 6 | 8 | 13 | 18 | 21 | 25 | 31 | 32 |
| Tax % | 27.15% | 37.72% | 9.54% | 42.21% | 30.38% | 29.52% | 32.63% | 36.71% | 9.33% | 29.77% | 29.75% |
| Net Profit | 7 | 6 | 10 | 4 | 6 | 9 | 12 | 14 | 23 | 22 | 22 |
| EPS | 0.00 | 0.00 | 0.00 | 3.78 | 6.05 | 8.31 | 3.24 | 3.61 | 4.71 | 4.55 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 11%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 38%
- 5 Years:
- 31%
- 3 Years:
- 22%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -45%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 4%
- 3 Years:
- 5%
- Last Year:
- 4%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 19 | 19 | 38 | 48 | 48 |
| 155 | 161 | 176 | 242 | 248 | 247 | 259 | 253 | 467 | 490 | |
| 95 | 113 | 143 | 138 | 149 | 166 | 162 | 159 | 89 | 83 | |
| Trade Payables | 25 | 33 | 27 | 28 | 34 | 47 | 34 | 35 | 32 | 31 |
| 21 | 18 | 16 | 5 | 18 | 19 | 23 | 38 | 29 | 33 | |
| Total Liabilities | 306 | 334 | 372 | 421 | 458 | 498 | 497 | 524 | 666 | 685 |
| 82 | 84 | 80 | 171 | 183 | 194 | 206 | 201 | 213 | 210 | |
| Capital Work in Progress | 0 | 3 | 4 | 18 | 14 | 20 | 8 | 5 | 9 | 29 |
| 0 | 8 | 14 | 17 | 17 | 18 | 20 | 20 | 65 | 65 | |
| 117 | 130 | 129 | 129 | 141 | 163 | 163 | 165 | 173 | 179 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 104 | 108 | 118 | |
| Cash & Bank | 3 | 4 | 2 | 2 | 3 | 3 | 2 | 13 | 73 | 59 |
| 104 | 105 | 142 | 84 | 100 | 101 | 98 | 15 | 25 | 24 | |
| Total Assets | 306 | 334 | 372 | 421 | 458 | 498 | 497 | 524 | 666 | 685 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 30 | 23 | -12 | 38 | 8 | 27 | 35 | 21 | 26 | 31 | |
| Cash from Investing | -9 | -21 | -10 | -18 | -16 | -26 | -11 | -2 | -96 | -0 |
| Cash from Financing | -19 | 2 | 24 | -20 | 9 | 1 | -21 | -8 | 104 | -21 |
| 0 | 1 | -1 | -0 | 0 | -0 | -0 | 11 | 34 | 10 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Significant increase in volume has been observed in Indo Farm Equipment Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Indo Farm Equipment Limited has submitted their response.
2026-09-08 - Significant increase in volume has been observed in Indo Farm Equipment Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-29 - Indo Farm Equipment Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-28 - Indo Farm Equipment Limited has informed the Exchange about General Updates
2026-08-28 - Indo Farm Equipment Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 23, 2026
2026-08-27 - Indo Farm Equipment Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-17 - Indo Farm Equipment Limited has informed the Exchange about Transcript
2026-08-12 - Indo Farm Equipment Limited has informed the Exchange about Link of Recording
2026-08-11 - Indo Farm Equipment Limited has informed the Exchange about Investor Presentation
News
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