Indef Manufacturing Ltd.
•₹ 215.851.12%
2026-08-21
PROS
- Company is almost debt free
- Working capital cycle has improved - days down from 62 to 34
CONS
- Recent results are weak - TTM profit is down 41.3% versus prior year
- A large part of profit comes from other income (34.1% of PBT)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BHEL | 418.50 | 59.91 | 145724.35 | 0.33 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| 2. | THERMAX | 4024.55 | 80.82 | 47955.05 | 0.50 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| 3. | INDOMIM | 966.60 | 89.58 | 47796.52 | 0.61 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| 4. | KIRLOSENG | 2081.95 | 55.47 | 30296.51 | 0.34 | 111.06 | -20.05 | 1999.53 | 13.36 | 14.46 | 15.02 |
| 5. | JYOTICNC | 951.90 | 67.29 | 21648.40 | 0.00 | 57.14 | -19.99 | 508.47 | 23.97 | 23.88 | 21.40 |
| 6. | AZAD | 2827.20 | 131.38 | 18258.55 | 0.00 | 35.16 | 19.46 | 172.60 | 25.90 | 12.28 | 37.29 |
| 7. | TRITURBINE | 569.95 | 53.88 | 18118.62 | 0.75 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| 8. | INOXINDIA | 1932.55 | 68.83 | 17540.50 | 0.10 | 58.07 | -4.98 | 370.79 | 9.18 | 33.54 | 20.46 |
| 9. | LLOYDSENGG | 92.99 | 64.48 | 14423.11 | 0.27 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| 10. | TEGA | 1724.35 | 613.12 | 12954.64 | 0.12 | -108.25 | -406.36 | 1723.44 | 383.99 | 18.56 | 3.27 |
| 11. | KRN | 1502.65 | 101.46 | 9836.12 | 0.00 | 32.90 | 164.84 | 252.32 | 118.87 | 21.21 | 19.44 |
| 12. | BAJAJINDEF | 214.15 | 29.19 | 685.28 | 0.93 | 5.48 | -3.01 | 34.46 | -13.21 | 9.32 | -2.84 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2023 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 43 | 45 | 53 | 40 | 49 | 51 | 68 | 34 | |
| 0 | 36 | 37 | 42 | 36 | 43 | 47 | 59 | 37 | |
| Operating Profit | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — |
| Other Income | 0 | 6 | 3 | 4 | 5 | 3 | 5 | -4 | 9 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| 0 | 11 | 9 | 14 | 8 | 7 | 7 | 2 | 6 | |
| Tax % | — | -1.07% | 24.84% | 25.46% | 25.36% | 16.17% | 29.01% | -204.09% | 12.75% |
| Net Profit | 0 | 0 | 7 | 10 | 6 | 6 | 0 | 7 | 5 |
| 0 | 4 | 2 | 3 | 2 | 2 | 2 | 2 | 0 | |
| Equity Capital | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 0 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Dec 2023
- 0
- 0
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- —
- Net Profit
- 0
- 0
- Equity Capital
- 0
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 0
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 43
- 36
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 0
- Depreciation
- 1
- 11
- Tax %
- -1.07%
- Net Profit
- 0
- 4
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 45
- 37
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 0
- Depreciation
- 1
- 9
- Tax %
- 24.84%
- Net Profit
- 7
- 2
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 53
- 42
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 0
- Depreciation
- 1
- 14
- Tax %
- 25.46%
- Net Profit
- 10
- 3
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 40
- 36
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 0
- Depreciation
- 1
- 8
- Tax %
- 25.36%
- Net Profit
- 6
- 2
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 49
- 43
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 0
- Depreciation
- 1
- 7
- Tax %
- 16.17%
- Net Profit
- 6
- 2
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 51
- 47
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 0
- Depreciation
- 1
- 7
- Tax %
- 29.01%
- Net Profit
- 0
- 2
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 68
- 59
- Operating Profit
- —
- OPM %
- —
- Other Income
- -4
- Interest
- 0
- Depreciation
- 2
- 2
- Tax %
- -204.09%
- Net Profit
- 7
- 2
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 34
- 37
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 0
- Depreciation
- 1
- 6
- Tax %
- 12.75%
- Net Profit
- 5
- 0
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 3
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|
| 179 | 208 | 202 | |
| 148 | 184 | 185 | |
| Operating Profit | 48 | 31 | — |
| OPM % | 27 | 15 | — |
| Other Income | 17 | 8 | 12 |
| Interest | 0 | 0 | 0 |
| Depreciation | 5 | 6 | 7 |
| 42 | 24 | 23 | |
| Tax % | 19 | 2 | -2 |
| Net Profit | 34 | 23 | 23 |
| EPS | 11 | 7 | — |
| Dividend Payout % | 19 | 27 | — |
| Minority Interest | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 |
| Adjusted EPS | 11 | 7 | — |
| Minority Interest | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 |
| Adjusted EPS | 11 | 7 | — |
Mar 2025
- 179
- 148
- Operating Profit
- 48
- OPM %
- 27
- Other Income
- 17
- Interest
- 0
- Depreciation
- 5
- 42
- Tax %
- 19
- Net Profit
- 34
- EPS
- 11
- Dividend Payout %
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 11
Mar 2026
- 208
- 184
- Operating Profit
- 31
- OPM %
- 15
- Other Income
- 8
- Interest
- 0
- Depreciation
- 6
- 24
- Tax %
- 2
- Net Profit
- 23
- EPS
- 7
- Dividend Payout %
- 27
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
TTM
- 202
- 185
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 0
- Depreciation
- 7
- 23
- Tax %
- -2
- Net Profit
- 23
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -40%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- Last Year:
- 9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2025 | Mar 2026 | |
|---|---|---|
| LIABILITIES | - | - |
| Equity Capital | 3 | 3 |
| 250 | 267 | |
| 0 | 0 | |
| Trade Payables | 23 | 33 |
| 26 | 29 | |
| Total Liabilities | 301 | 332 |
| ASSETS | - | - |
| 35 | 46 | |
| Capital Work in Progress | 2 | 0 |
| 199 | 210 | |
| 22 | 32 | |
| 32 | 32 | |
| Cash & Bank | 6 | 6 |
| 5 | 7 | |
| Total Assets | 301 | 332 |
| Total Debt | 0 | 0 |
| Net Working Capital | 31 | 19 |
| Contingent Liabilities | 9 | 20 |
| Book Value per Share | 79.03 | 84.30 |
| Face Value | 1.00 | 1.00 |
| Total Debt | 0 | 0 |
| Net Working Capital | 31 | 19 |
| Contingent Liabilities | 9 | 20 |
| Book Value per Share | 79.03 | 84.30 |
| Face Value | 1.00 | 1.00 |
Mar 2025
- Equity Capital
- 3
- 250
- 0
- Trade Payables
- 23
- 26
- Total Liabilities
- 301
- 35
- Capital Work in Progress
- 2
- 199
- 22
- 32
- Cash & Bank
- 6
- 5
- Total Assets
- 301
- Total Debt
- 0
- Net Working Capital
- 31
- Contingent Liabilities
- 9
- Book Value per Share
- 79.03
- Face Value
- 1.00
- Total Debt
- 0
- Net Working Capital
- 31
- Contingent Liabilities
- 9
- Book Value per Share
- 79.03
- Face Value
- 1.00
Mar 2026
- Equity Capital
- 3
- 267
- 0
- Trade Payables
- 33
- 29
- Total Liabilities
- 332
- 46
- Capital Work in Progress
- 0
- 210
- 32
- 32
- Cash & Bank
- 6
- 7
- Total Assets
- 332
- Total Debt
- 0
- Net Working Capital
- 19
- Contingent Liabilities
- 20
- Book Value per Share
- 84.30
- Face Value
- 1.00
- Total Debt
- 0
- Net Working Capital
- 19
- Contingent Liabilities
- 20
- Book Value per Share
- 84.30
- Face Value
- 1.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2025 | Mar 2026 | |
|---|---|---|
| 5 | 24 | |
| Cash from Investing | -10 | -15 |
| Cash from Financing | -2 | -9 |
| -7 | 0 | |
| Free Cash Flow | 5 | 11 |
| OCF / Net Profit | 0.14 | 1.01 |
| Cumulative 5-Year FCF | 0 | 0 |
| OCF / Net Profit | 0.14 | 1.01 |
| Cumulative 5-Year FCF | 0 | 0 |
Mar 2025
- 5
- Cash from Investing
- -10
- Cash from Financing
- -2
- -7
- Free Cash Flow
- 5
- OCF / Net Profit
- 0.14
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.14
- Cumulative 5-Year FCF
- 0
Mar 2026
- 24
- Cash from Investing
- -15
- Cash from Financing
- -9
- 0
- Free Cash Flow
- 11
- OCF / Net Profit
- 1.01
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.01
- Cumulative 5-Year FCF
- 0
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2025 | Mar 2026 | |
|---|---|---|
| PER SHARE | - | - |
| EPS (₹) | 10.68 | 7.38 |
| Book Value (₹) | 79.03 | 84.30 |
| Dividend per Share (₹) | 2.00 | 2.00 |
| Cash EPS (₹) | 12.29 | 9.33 |
| PROFITABILITY | - | - |
| Operating Margin % | 17.12% | 11.20% |
| Net Margin % | 19.12% | 11.26% |
| ROE % | 13.51% | 8.95% |
| ROCE % | 16.76% | 9.32% |
| 11.33% | 7.38% | |
| EFFICIENCY | - | - |
| Debtor Days | 65 | 56 |
| Inventory Days | 45 | 47 |
| Payable Days | 89 | 91 |
| 22 | 13 | |
| FINANCIAL HEALTH | - | - |
| Debt to Equity (x) | 0.00x | 0.00x |
| Interest Coverage (x) | 99.68x | 64.21x |
| 1.93x | 1.34x | |
| GROWTH | - | - |
| Revenue Growth % | 0.00% | 16.27% |
| Operating Profit Growth % | 0.00% | -33.85% |
| Net Profit Growth % | 0.00% | -31.52% |
| 0.00% | -30.83% | |
| VALUATION | - | - |
| P/E (x) | 24.36x | 28.49x |
| P/B (x) | 3.29x | 2.50x |
| Dividend Yield % | 0.77% | 0.95% |
| 17.37x | 21.19x |
Mar 2025
- EPS (₹)
- 10.68
- Book Value (₹)
- 79.03
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 12.29
- Operating Margin %
- 17.12%
- Net Margin %
- 19.12%
- ROE %
- 13.51%
- ROCE %
- 16.76%
- 11.33%
- Debtor Days
- 65
- Inventory Days
- 45
- Payable Days
- 89
- 22
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 99.68x
- 1.93x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 24.36x
- P/B (x)
- 3.29x
- Dividend Yield %
- 0.77%
- 17.37x
Mar 2026
- EPS (₹)
- 7.38
- Book Value (₹)
- 84.30
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 9.33
- Operating Margin %
- 11.20%
- Net Margin %
- 11.26%
- ROE %
- 8.95%
- ROCE %
- 9.32%
- 7.38%
- Debtor Days
- 56
- Inventory Days
- 47
- Payable Days
- 91
- 13
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 64.21x
- 1.34x
- Revenue Growth %
- 16.27%
- Operating Profit Growth %
- -33.85%
- Net Profit Growth %
- -31.52%
- -30.83%
- P/E (x)
- 28.49x
- P/B (x)
- 2.50x
- Dividend Yield %
- 0.95%
- 21.19x
Documents
Announcements
- Shareholders meeting
2026-08-14 - Indef Manufacturing Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 12, 2026. Further, the company has informed the Exchange regarding voting results.
- Shareholders meeting
2026-08-12 - Indef Manufacturing Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 12, 2026
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Nothing filed yet.