Indo Farm Equipments Ltd.

141.762.68%

2026-08-21

indofarm.inBSE: 544328NSE: INDOFARM
Market Cap₹ 660 Cr.
Current Price₹ 138
High / Low₹ 272 / 111
Stock P/E26.5
Book Value₹ 117
Price to Book1.40
Dividend Yield0.00 %
ROCE7.8 %
ROE5.6 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Crane: 58.1% • Tractors: 36.4% • NBFC: 5.3% • Others: 0.2%

PROS

  • Company has delivered good profit growth of 36.7% CAGR over last 5 years
  • Company has consistently been profitable over the last 5 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.28x)
  • Company generates healthy free cash flow
  • Company maintains a comfortable, low leverage position

CONS

  • Recent results are weak - TTM profit is down 34.2% versus prior year
  • Company has a low return on equity of 5.4% over last 3 years
  • Company has a low return on capital employed of 8.6%
  • Equity base is being diluted - shares outstanding up 155.9%
  • Working capital days have increased from 115 to 279 days

* 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.ESCORTS3058.0524.7434212.781.67385.93-97.243207.5528.3016.0811.05
2.VSTTILLERS4447.7035.333848.490.5648.439.52313.4010.9612.7412.76
3.INDOFARM137.4526.51660.470.0056.57941.041102.431045.257.7613.12
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2024
75
63
Operating Profit
OPM %
Other Income
1
Interest
6
Depreciation
3
4
Tax %
34.49%
Net Profit
0
1
Equity Capital
39
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
39
Reserves
0
Promoter Pledge %
0.00%
Sep 2024
86
73
Operating Profit
OPM %
Other Income
0
Interest
6
Depreciation
2
5
Tax %
25.93%
Net Profit
4
1
Equity Capital
39
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
39
Reserves
0
Promoter Pledge %
0.00%
Dec 2024
96
81
Operating Profit
OPM %
Other Income
0
Interest
7
Depreciation
3
6
Tax %
30.05%
Net Profit
4
1
Equity Capital
39
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
39
Reserves
0
Promoter Pledge %
0.00%
Mar 2025
130
112
Operating Profit
OPM %
Other Income
2
Interest
5
Depreciation
3
12
Tax %
-13.82%
Net Profit
14
3
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Jun 2025
96
83
Operating Profit
OPM %
Other Income
2
Interest
4
Depreciation
3
8
Tax %
27.79%
Net Profit
5
1
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Sep 2025
104
91
Operating Profit
OPM %
Other Income
2
Interest
4
Depreciation
3
7
Tax %
30.54%
Net Profit
5
1
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Dec 2025
106
92
Operating Profit
OPM %
Other Income
2
Interest
4
Depreciation
3
8
Tax %
29.26%
Net Profit
6
1
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Mar 2026
134
115
Operating Profit
OPM %
Other Income
1
Interest
4
Depreciation
3
12
Tax %
29.53%
Net Profit
9
2
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Jun 2026
110
103
Operating Profit
OPM %
Other Income
1
Interest
4
Depreciation
4
8
Tax %
27.82%
Net Profit
6
0
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%
Equity Capital
48
Reserves
0
Promoter Pledge %
0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018
263
233
Operating Profit
31
OPM %
12
Other Income
0
Interest
13
Depreciation
8
10
Tax %
38
Net Profit
6
EPS
0
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
2
Minority Interest
0
Share of Associates
0
Adjusted EPS
2
Mar 2019
315
277
Operating Profit
39
OPM %
12
Other Income
2
Interest
17
Depreciation
10
13
Tax %
15
Net Profit
11
EPS
0
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Minority Interest
0
Share of Associates
0
Adjusted EPS
3
Mar 2020
245
211
Operating Profit
36
OPM %
15
Other Income
2
Interest
20
Depreciation
8
8
Tax %
39
Net Profit
5
EPS
5
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
1
Minority Interest
0
Share of Associates
0
Adjusted EPS
1
Mar 2021
268
254
Operating Profit
41
OPM %
15
Other Income
28
Interest
21
Depreciation
8
12
Tax %
28
Net Profit
9
EPS
9
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
2
Minority Interest
0
Share of Associates
0
Adjusted EPS
2
Mar 2022
352
301
Operating Profit
52
OPM %
15
Other Income
1
Interest
24
Depreciation
9
19
Tax %
29
Net Profit
14
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 2023
371
313
Operating Profit
59
OPM %
16
Other Income
1
Interest
28
Depreciation
9
22
Tax %
31
Net Profit
15
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 2024
375
313
Operating Profit
63
OPM %
17
Other Income
1
Interest
28
Depreciation
10
24
Tax %
36
Net Profit
15
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
387
329
Operating Profit
61
OPM %
16
Other Income
3
Interest
24
Depreciation
11
26
Tax %
10
Net Profit
24
EPS
5
Dividend Payout %
0
Minority Interest
0
Share of Associates
0
Adjusted EPS
5
Minority Interest
0
Share of Associates
0
Adjusted EPS
5
TTM
454
402
Operating Profit
OPM %
Other Income
6
Interest
17
Depreciation
13
35
Tax %
29
Net Profit
25
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:
10%
3 Years:
3%

COMPOUNDED PROFIT GROWTH

10 Years:
5 Years:
37%
3 Years:
20%

STOCK PRICE CAGR

10 Years:
5 Years:
3 Years:
1 Year:
-40%

RETURN ON EQUITY

10 Years:
5 Years:
5%
3 Years:
5%
Last Year:
6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

No bonus data found

Mar 2018
Equity Capital
9
161
110
Trade Payables
33
40
Total Liabilities
353
84
Capital Work in Progress
3
0
130
0
Cash & Bank
4
132
Total Assets
353
Total Debt
131
Net Working Capital
79
Contingent Liabilities
20
Book Value per Share
184.12
Face Value
10.00
Total Debt
131
Net Working Capital
79
Contingent Liabilities
20
Book Value per Share
184.12
Face Value
10.00
Mar 2019
Equity Capital
9
177
140
Trade Payables
27
52
Total Liabilities
406
81
Capital Work in Progress
4
0
129
0
Cash & Bank
3
189
Total Assets
406
Total Debt
171
Net Working Capital
91
Contingent Liabilities
13
Book Value per Share
195.46
Face Value
10.00
Total Debt
171
Net Working Capital
91
Contingent Liabilities
13
Book Value per Share
195.46
Face Value
10.00
Mar 2020
Equity Capital
9
245
118
Trade Payables
18
91
Total Liabilities
481
172
Capital Work in Progress
18
0
129
0
Cash & Bank
3
160
Total Assets
481
Total Debt
198
Net Working Capital
76
Contingent Liabilities
89
Book Value per Share
270.64
Face Value
10.00
Total Debt
198
Net Working Capital
76
Contingent Liabilities
89
Book Value per Share
270.64
Face Value
10.00
Mar 2021
Equity Capital
9
253
105
Trade Payables
15
163
Total Liabilities
546
184
Capital Work in Progress
14
0
141
0
Cash & Bank
3
203
Total Assets
546
Total Debt
235
Net Working Capital
89
Contingent Liabilities
95
Book Value per Share
279.79
Face Value
10.00
Total Debt
235
Net Working Capital
89
Contingent Liabilities
95
Book Value per Share
279.79
Face Value
10.00
Mar 2022
Equity Capital
19
256
116
Trade Payables
47
179
Total Liabilities
616
194
Capital Work in Progress
20
1
163
0
Cash & Bank
3
235
Total Assets
616
Total Debt
275
Net Working Capital
93
Contingent Liabilities
10
Book Value per Share
146.36
Face Value
10.00
Total Debt
275
Net Working Capital
93
Contingent Liabilities
10
Book Value per Share
146.36
Face Value
10.00
Mar 2023
Equity Capital
19
272
118
Trade Payables
31
188
Total Liabilities
627
206
Capital Work in Progress
8
0
163
0
Cash & Bank
4
246
Total Assets
627
Total Debt
281
Net Working Capital
93
Contingent Liabilities
18
Book Value per Share
154.65
Face Value
10.00
Total Debt
281
Net Working Capital
93
Contingent Liabilities
18
Book Value per Share
154.65
Face Value
10.00
Mar 2024
Equity Capital
38
268
132
Trade Payables
35
175
Total Liabilities
648
202
Capital Work in Progress
5
0
165
104
Cash & Bank
15
157
Total Assets
648
Total Debt
271
Net Working Capital
118
Contingent Liabilities
18
Book Value per Share
81.48
Face Value
10.00
Total Debt
271
Net Working Capital
118
Contingent Liabilities
18
Book Value per Share
81.48
Face Value
10.00
Mar 2025
Equity Capital
48
483
71
Trade Payables
32
128
Total Liabilities
762
214
Capital Work in Progress
9
0
173
108
Cash & Bank
111
148
Total Assets
762
Total Debt
172
Net Working Capital
296
Contingent Liabilities
17
Book Value per Share
110.54
Face Value
10.00
Total Debt
172
Net Working Capital
296
Contingent Liabilities
17
Book Value per Share
110.54
Face Value
10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018
-7
Cash from Investing
-21
Cash from Financing
27
-1
Free Cash Flow
-7
OCF / Net Profit
-1.14
Cumulative 5-Year FCF
0
OCF / Net Profit
-1.14
Cumulative 5-Year FCF
0
Mar 2019
-51
Cash from Investing
-11
Cash from Financing
61
-1
Free Cash Flow
-57
OCF / Net Profit
-4.70
Cumulative 5-Year FCF
0
OCF / Net Profit
-4.70
Cumulative 5-Year FCF
0
Mar 2020
28
Cash from Investing
-15
Cash from Financing
-13
-0
Free Cash Flow
-78
OCF / Net Profit
5.57
Cumulative 5-Year FCF
0
OCF / Net Profit
5.57
Cumulative 5-Year FCF
0
Mar 2021
12
Cash from Investing
-16
Cash from Financing
5
1
Free Cash Flow
-4
OCF / Net Profit
1.35
Cumulative 5-Year FCF
0
OCF / Net Profit
1.35
Cumulative 5-Year FCF
0
Mar 2022
10
Cash from Investing
-26
Cash from Financing
16
0
Free Cash Flow
-14
OCF / Net Profit
0.73
Cumulative 5-Year FCF
0
OCF / Net Profit
0.73
Cumulative 5-Year FCF
0
Mar 2023
30
Cash from Investing
-8
Cash from Financing
-22
-0
Free Cash Flow
21
OCF / Net Profit
1.96
Cumulative 5-Year FCF
-132
OCF / Net Profit
1.96
Cumulative 5-Year FCF
-132
Mar 2024
41
Cash from Investing
-3
Cash from Financing
-26
12
Free Cash Flow
40
OCF / Net Profit
2.63
Cumulative 5-Year FCF
-34
OCF / Net Profit
2.63
Cumulative 5-Year FCF
-34
Mar 2025
53
Cash from Investing
-75
Cash from Financing
68
46
Free Cash Flow
26
OCF / Net Profit
2.25
Cumulative 5-Year FCF
70
OCF / Net Profit
2.25
Cumulative 5-Year FCF
70

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018
EPS (₹)
6.67
Book Value (₹)
184.12
Dividend per Share (₹)
0.00
Cash EPS (₹)
3.96
Operating Margin %
11.85%
Net Margin %
2.30%
ROE %
3.62%
ROCE %
7.68%
1.71%
Debtor Days
99
Inventory Days
180
Payable Days
79
200
Debt to Equity (x)
0.78x
Interest Coverage (x)
1.74x
1.50x
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 2019
EPS (₹)
11.49
Book Value (₹)
195.46
Dividend per Share (₹)
0.00
Cash EPS (₹)
5.40
Operating Margin %
12.50%
Net Margin %
3.43%
ROE %
6.15%
ROCE %
9.15%
2.84%
Debtor Days
98
Inventory Days
150
Payable Days
61
187
Debt to Equity (x)
0.93x
Interest Coverage (x)
1.74x
1.49x
Revenue Growth %
19.50%
Operating Profit Growth %
26.07%
Net Profit Growth %
78.32%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2020
EPS (₹)
5.26
Book Value (₹)
270.64
Dividend per Share (₹)
0.00
Cash EPS (₹)
3.48
Operating Margin %
14.67%
Net Margin %
2.01%
ROE %
2.26%
ROCE %
6.90%
1.11%
Debtor Days
123
Inventory Days
192
Payable Days
61
254
Debt to Equity (x)
0.78x
Interest Coverage (x)
1.41x
1.48x
Revenue Growth %
-22.10%
Operating Profit Growth %
-8.54%
Net Profit Growth %
-54.24%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2021
EPS (₹)
9.14
Book Value (₹)
279.79
Dividend per Share (₹)
0.00
Cash EPS (₹)
4.44
Operating Margin %
15.40%
Net Margin %
3.21%
ROE %
3.32%
ROCE %
6.98%
1.67%
Debtor Days
96
Inventory Days
184
Payable Days
41
239
Debt to Equity (x)
0.89x
Interest Coverage (x)
1.56x
1.49x
Revenue Growth %
9.26%
Operating Profit Growth %
14.67%
Net Profit Growth %
73.96%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2022
EPS (₹)
7.22
Book Value (₹)
146.36
Dividend per Share (₹)
0.00
Cash EPS (₹)
6.04
Operating Margin %
14.79%
Net Margin %
3.90%
ROE %
5.11%
ROCE %
8.23%
2.36%
Debtor Days
75
Inventory Days
158
Payable Days
57
177
Debt to Equity (x)
1.00x
Interest Coverage (x)
1.81x
1.43x
Revenue Growth %
31.48%
Operating Profit Growth %
26.27%
Net Profit Growth %
59.81%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2023
EPS (₹)
8.19
Book Value (₹)
154.65
Dividend per Share (₹)
0.00
Cash EPS (₹)
6.44
Operating Margin %
15.84%
Net Margin %
4.15%
ROE %
5.44%
ROCE %
8.90%
2.47%
Debtor Days
72
Inventory Days
161
Payable Days
63
170
Debt to Equity (x)
0.97x
Interest Coverage (x)
1.80x
1.42x
Revenue Growth %
5.30%
Operating Profit Growth %
12.77%
Net Profit Growth %
12.05%
0.00%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
0.00x
Mar 2024
EPS (₹)
4.10
Book Value (₹)
81.48
Dividend per Share (₹)
0.00
Cash EPS (₹)
6.85
Operating Margin %
16.46%
Net Margin %
4.10%
ROE %
5.17%
ROCE %
9.01%
2.42%
Debtor Days
87
Inventory Days
159
Payable Days
55
192
Debt to Equity (x)
0.88x
Interest Coverage (x)
1.84x
1.50x
Revenue Growth %
1.21%
Operating Profit Growth %
6.47%
Net Profit Growth %
0.20%
-49.90%
P/E (x)
0.00x
P/B (x)
0.00x
Dividend Yield %
0.00%
4.68x
Mar 2025
EPS (₹)
4.90
Book Value (₹)
110.54
Dividend per Share (₹)
0.00
Cash EPS (₹)
7.15
Operating Margin %
15.04%
Net Margin %
6.08%
ROE %
5.63%
ROCE %
7.76%
3.34%
Debtor Days
100
Inventory Days
159
Payable Days
54
205
Debt to Equity (x)
0.32x
Interest Coverage (x)
2.09x
2.79x
Revenue Growth %
3.19%
Operating Profit Growth %
-2.60%
Net Profit Growth %
52.87%
19.47%
P/E (x)
31.56x
P/B (x)
1.40x
Dividend Yield %
0.00%
13.21x

Shareholding Pattern

Numbers in percentages

TRADES
Mar 2021
83.83
0.00
0.00
Government
0.00
16.17
Mar 2022
83.88
0.00
0.00
Government
0.00
16.12
Mar 2025
69.44
0.82
4.19
Government
0.00
25.55
Jun 2025
69.44
0.55
4.07
Government
0.00
25.94
Sep 2025
69.53
0.40
4.18
Government
0.00
25.88
Dec 2025
69.81
0.01
3.77
Government
0.00
26.41
Mar 2026
70.46
0.18
2.50
Government
0.00
26.86
Jun 2026
70.63
0.08
1.89
Government
0.00
27.40

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