Indef Manufacturing Ltd.

215.851.12%

2026-08-21

indef.comBSE: 544364NSE: BAJAJINDEF
Market Cap₹ 685 Cr.
Current Price₹ 213
High / Low₹ 443 / 207
Stock P/E0.0
Book Value₹ 87
Price to Book2.47
Dividend Yield0.93 %
ROCE10.7 %
ROE9.9 %
Face Value₹ 1

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ABOUT

KEY POINTS

PROS

  • Company is almost debt free
  • Working capital cycle has improved - days down from 64 to 52

CONS

  • Company has a low return on capital employed of -128.1%
  • Recent results are weak - TTM profit is down 18.6% versus prior year
  • A large part of profit comes from other income (31.5% of PBT)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS
S.No.NameCMP Rs.P/EMar Cap Rs.Cr.Div Yld %NP Qtr Rs.Cr.Qtr Profit Var %Sales Qtr Rs.Cr.Qtr Sales Var %ROCE %OPM %
1.BHEL418.5059.91145724.350.33376.71182.707697.7240.299.246.69
2.THERMAX4024.5580.8247955.050.5021.79-85.612302.737.0915.852.98
3.INDOMIM966.6089.5847796.520.612401.2212187.4224.4833.36
4.KIRLOSENG2081.9555.4730296.510.34111.06-20.051999.5313.3614.4615.02
5.JYOTICNC951.9067.2921648.400.0057.14-19.99508.4723.9723.8821.40
6.AZAD2827.20131.3818258.550.0035.1619.46172.6025.9012.2837.29
7.TRITURBINE569.9553.8818118.620.7551.10-20.65442.7019.2335.9511.59
8.INOXINDIA1932.5568.8317540.500.1058.07-4.98370.799.1833.5420.46
9.LLOYDSENGG92.9964.4814423.110.2768.23-77.28527.15142.9217.9915.04
10.TEGA1724.35613.1212954.640.12-108.25-406.361723.44383.9918.563.27
11.KRN1502.65101.469836.120.0032.90164.84252.32118.8721.2119.44
12.BAJAJINDEF214.1529.19685.280.935.48-3.0134.46-13.219.32-2.84
Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2023
40
34
Operating Profit
OPM %
Other Income
4
Interest
0
Depreciation
1
8
Tax %
33.57%
Net Profit
6
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Mar 2024
57
44
Operating Profit
OPM %
Other Income
4
Interest
0
Depreciation
1
16
Tax %
26.09%
Net Profit
12
4
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Jun 2024
38
33
Operating Profit
OPM %
Other Income
4
Interest
0
Depreciation
1
8
Tax %
27.13%
Net Profit
6
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
43
36
Operating Profit
OPM %
Other Income
6
Interest
0
Depreciation
1
11
Tax %
-0.98%
Net Profit
11
4
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
44
37
Operating Profit
OPM %
Other Income
3
Interest
0
Depreciation
1
9
Tax %
24.89%
Net Profit
7
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
52
41
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
38
34
Operating Profit
OPM %
Other Income
5
Interest
0
Depreciation
1
8
Tax %
25.06%
Net Profit
6
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
48
41
Operating Profit
OPM %
Other Income
3
Interest
0
Depreciation
1
8
Tax %
16.77%
Net Profit
7
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
49
43
Operating Profit
OPM %
Other Income
5
Interest
0
Depreciation
1
8
Tax %
25.48%
Net Profit
6
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
61
51
Operating Profit
OPM %
Other Income
-4
Interest
0
Depreciation
2
4
Tax %
-99.73%
Net Profit
7
2
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
28
31
Operating Profit
OPM %
Other Income
9
Interest
0
Depreciation
1
7
Tax %
13.22%
Net Profit
6
0
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
3
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023
0
0
Operating Profit
-0
OPM %
Other Income
0
Interest
0
Depreciation
0
-0
Tax %
0
Net Profit
-0
EPS
-1
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
-1
Minority Interest
0
Share of Associates
0
Adjusted EPS
-1
Mar 2024
0
0
Operating Profit
-0
OPM %
Other Income
0
Interest
0
Depreciation
0
-0
Tax %
29
Net Profit
-0
EPS
-4
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
-4
Minority Interest
0
Share of Associates
0
Adjusted EPS
-4
Mar 2025
177
146
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
196
170
Operating Profit
34
OPM %
18
Other Income
9
Interest
0
Depreciation
6
28
Tax %
6
Net Profit
26
EPS
8
Dividend Payout %
25
Minority Interest
0
Share of Associates
0
Adjusted EPS
8
Minority Interest
0
Share of Associates
0
Adjusted EPS
8
TTM
186
166
Operating Profit
OPM %
Other Income
13
Interest
0
Depreciation
6
27
Tax %
3
Net Profit
26
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:
12%
Last Year:
10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions

2026

Aug 5

₹ 2

Rs.2.0000 per share(200%)Final Dividend

2025

Aug 5

₹ 2

Rs.2.0000 per share(200%)Final Dividend

Mar 2024
Equity Capital
0
-0
Trade Payables
0
-0
Total Liabilities
0
0
Capital Work in Progress
0
0
0
0
Cash & Bank
0
0
Total Assets
0
Total Debt
0
Net Working Capital
-0
Contingent Liabilities
0
Book Value per Share
-4.32
Face Value
1.00
Total Debt
0
Net Working Capital
-0
Contingent Liabilities
0
Book Value per Share
-4.32
Face Value
1.00
Mar 2025
Equity Capital
3
250
Trade Payables
22
25
Total Liabilities
301
35
Capital Work in Progress
2
199
22
31
Cash & Bank
6
5
Total Assets
301
Total Debt
0
Net Working Capital
31
Contingent Liabilities
9
Book Value per Share
79.06
Face Value
1.00
Total Debt
0
Net Working Capital
31
Contingent Liabilities
9
Book Value per Share
79.06
Face Value
1.00
Mar 2026
Equity Capital
3
269
Trade Payables
27
26
Total Liabilities
326
35
Capital Work in Progress
0
215
26
26
Cash & Bank
4
19
Total Assets
326
Total Debt
0
Net Working Capital
28
Contingent Liabilities
20
Book Value per Share
85.09
Face Value
1.00
Total Debt
0
Net Working Capital
28
Contingent Liabilities
20
Book Value per Share
85.09
Face Value
1.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023
-0
Cash from Investing
0
Cash from Financing
0
0
Free Cash Flow
-0
OCF / Net Profit
0.73
Cumulative 5-Year FCF
0
OCF / Net Profit
0.73
Cumulative 5-Year FCF
0
Mar 2024
-0
Cash from Investing
0
Cash from Financing
0
0
Free Cash Flow
-0
OCF / Net Profit
1.35
Cumulative 5-Year FCF
0
OCF / Net Profit
1.35
Cumulative 5-Year FCF
0
Mar 2025
5
Cash from Investing
-10
Cash from Financing
-2
-7
Free Cash Flow
-48
OCF / Net Profit
0.15
Cumulative 5-Year FCF
0
OCF / Net Profit
0.15
Cumulative 5-Year FCF
0
Mar 2026
32
Cash from Investing
-25
Cash from Financing
-8
-2
Free Cash Flow
30
OCF / Net Profit
1.22
Cumulative 5-Year FCF
0
OCF / Net Profit
1.22
Cumulative 5-Year FCF
0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023
EPS (₹)
-0.95
Book Value (₹)
0.05
Dividend per Share (₹)
0.00
Cash EPS (₹)
-0.95
Operating Margin %
0.00%
Net Margin %
0.00%
ROE %
-1900.00%
ROCE %
-1900.00%
-296.88%
Debtor Days
0
Inventory Days
0
Payable Days
0
0
Debt to Equity (x)
0.00x
Interest Coverage (x)
0.00x
1.19x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
-4.37
Book Value (₹)
-4.32
Dividend per Share (₹)
0.00
Cash EPS (₹)
-4.37
Operating Margin %
0.00%
Net Margin %
0.00%
ROE %
0.00%
ROCE %
-428.67%
-482.87%
Debtor Days
0
Inventory Days
0
Payable Days
0
0
Debt to Equity (x)
-1.63x
Interest Coverage (x)
-33.22x
0.20x
Revenue Growth %
0.00%
Operating Profit Growth %
-529.47%
Net Profit Growth %
-360.00%
-360.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
-1.10x
Mar 2025
EPS (₹)
10.70
Book Value (₹)
79.06
Dividend per Share (₹)
2.00
Cash EPS (₹)
12.31
Operating Margin %
17.35%
Net Margin %
19.38%
ROE %
27.07%
ROCE %
33.57%
22.78%
Debtor Days
64
Inventory Days
46
Payable Days
43
67
Debt to Equity (x)
0.00x
Interest Coverage (x)
99.91x
1.97x
Revenue Growth %
0.00%
Operating Profit Growth %
0.00%
Net Profit Growth %
0.00%
344.84%
P/E (x)
24.30x
P/B (x)
3.29x
Dividend Yield %
0.77%
17.34x
Mar 2026
EPS (₹)
8.14
Book Value (₹)
85.09
Dividend per Share (₹)
2.00
Cash EPS (₹)
9.94
Operating Margin %
13.14%
Net Margin %
13.31%
ROE %
9.92%
ROCE %
10.71%
8.32%
Debtor Days
53
Inventory Days
45
Payable Days
86
12
Debt to Equity (x)
0.00x
Interest Coverage (x)
102.01x
1.61x
Revenue Growth %
10.73%
Operating Profit Growth %
-27.58%
Net Profit Growth %
-23.91%
-23.91%
P/E (x)
25.84x
P/B (x)
2.47x
Dividend Yield %
0.95%
19.39x

Shareholding Pattern

Numbers in percentages

TRADES
Mar 2025
69.61
1.57
0.00
Government
0.00
28.81
Jun 2025
69.61
1.59
0.00
Government
0.00
28.80
Sep 2025
69.61
1.56
0.00
Government
0.00
28.83
Dec 2025
69.61
1.56
0.00
Government
0.00
28.83
Mar 2026
69.61
1.57
0.13
Government
0.00
28.69
Jun 2026
69.61
1.11
0.00
Government
0.00
29.28

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

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.