Indef Manufacturing
BAJAJINDEF NSE
Indef Manufacturing
Capital GoodsNSE: BAJAJINDEF BSE: 544364 Industrial Products
Key Fundamentals
MicrocapIndustrial ProductsCapital GoodsMarket Cap
₹704 Cr
Volatility
Moderate
P/E Ratio
31.14
EBITDA
₹31.50 Cr
Return on Equity
8.7%
Debt to Equity
0.01
Book Value
₹84.3
52W High
₹442.6
52W Low
₹207.25
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Company's working capital requirements have reduced from 36.0 days to 22.1 days
Weaknesses
3- Stock is trading at 2.71 times its book value
- Tax rate seems low
- Earnings include an other income of Rs.11.0 Cr.
Growth Rate
Revenue Growth
10.38%
Net Income Growth
-31.58%
Cash Flow Change
388% lower than
3Y
ROE
-35.6%
ROCE
-44.23%
EBITDA Margin (Avg.)
-40.07%
Quarterly Results
| Particulars | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 42.77 | 44.74 | 52.98 | 39.71 | 49.31 | 50.64 | 68.04 | 34.46 |
| Expenses | 35.97 | 37.27 | 42.3 | 36 | 43.03 | 46.54 | 58.87 | 35.44 |
| Operating Profit | 6.8 | 7.47 | 10.68 | 3.71 | 6.28 | 4.1 | 9.17 | -0.98 |
| OPM % | 15.9% | 16.7% | 20.16% | 9.34% | 12.74% | 8.1% | 13.48% | -2.84% |
| Other Income | 5.84 | 3.3 | 4.29 | 5.3 | 2.7 | 4.19 | -4.62 | 8.77 |
| Interest | 0.11 | 0.1 | 0.09 | 0.1 | 0.11 | 0.08 | 0.08 | 0.1 |
| Depreciation | 1.36 | 1.33 | 1.29 | 1.34 | 1.45 | 1.42 | 2.26 | 1.41 |
| PBT | 11.17 | 9.34 | 13.59 | 7.57 | 7.42 | 6.79 | 2.21 | 6.28 |
| Tax % | -0.98% | 24.95% | 25.46% | 25.23% | 16.17% | 29.16% | -203.17% | 12.74% |
| Net Profit | 11.28 | 7.02 | 10.13 | 5.65 | 6.26 | 4.9 | 6.82 | 5.5 |
| EPS in Rs | — | 2.19 | 3.17 | 1.77 | 1.96 | 1.53 | 2.13 | 1.72 |
Profit & Loss
| Particulars | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|
| Sales | 179 | 208 | 202 |
| Expenses | 148 | 184 | 184 |
| Operating Profit | 31 | 23 | 19 |
| OPM % | 17% | 11% | 9% |
| Other Income | 17 | 8 | 11 |
| Interest | 0 | 0 | 0 |
| Depreciation | 5 | 6 | 7 |
| PBT | 42 | 24 | 23 |
| Tax % | 19% | 2% | — |
| Net Profit | 34 | 23 | 23 |
| EPS in Rs | 10.68 | 7.38 | 7.34 |
| Div. Payout % | 0% | 27% | — |
Balance Sheet
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Equity Capital | 3 | 3 |
| Reserves | 250 | 267 |
| Borrowings | 4 | 3 |
| Other Liabilities | 45 | 60 |
| Total Liabilities | 301 | 332 |
| Fixed Assets | 35 | 46 |
| CWIP | 2 | 0 |
| Investments | 199 | 210 |
| Other Assets | 66 | 77 |
| Total Assets | 301 | 332 |
Cash Flow
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | 5 | 24 |
| Investing | -10 | -15 |
| Financing | -2 | -9 |
| Net Cash Flow | -7 | 0 |
| Free Cash Flow | -4 | 18 |
| CFO/OP | 33 | 132 |
Ratios
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Debtor Days | 65 | 56 |
| Inventory Days | 85 | 102 |
| Days Payable | 89 | 107 |
| Cash Conversion Cycle | 62 | 51 |
| Working Capital Days | 50 | 22 |
| ROCE % | — | 9% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Indef Manufacturing insights
55 extracted metrics + investor summaries across FY18–FY26.
Documents
1
Announcement under Regulation 30 (LODR)-Newspaper Publication
16 Apr - Submission of Newspaper Advertisement published on April 16, 2026 informing the shareholders regarding postal ballot notice. 16 Apr - Submission of Newspaper Advertisement published on April 16, 2026 informing the shareholders regarding postal ballot notice.
5
Announcement under Regulation 30 (LODR)-Change in Management
6 Mar - Operations Head Kiran Prabhakar Matkar resigns; cessation effective March 12, 2026. 6 Mar - Operations Head Kiran Prabhakar Matkar resigns; cessation effective March 12, 2026.
Frequently Asked Questions about Indef Manufacturing
What does Indef Manufacturing Ltd do?
Incorporated in 2022, Indef Manufacturing
Ltd is in the manufacturing business[1]
Where is Indef Manufacturing Ltd (BAJAJINDEF) listed?
Indef Manufacturing Ltd trades as BAJAJINDEF on the NSE and under code 544364 on the BSE.
Which sector does Indef Manufacturing Ltd belong to?
Indef Manufacturing Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the market capitalisation of Indef Manufacturing Ltd?
Indef Manufacturing Ltd has a market capitalisation of ₹703.68 Cr, which places it in the Small Cap band.
What is the PE ratio of Indef Manufacturing Ltd?
Indef Manufacturing Ltd trades at a PE ratio of 31.14, against a book value of ₹84.3 per share.
What is the 52-week high and low of Indef Manufacturing Ltd?
Over the last 52 weeks Indef Manufacturing Ltd has traded between ₹207.25 and ₹442.6.
Does Indef Manufacturing Ltd pay dividends?
Indef Manufacturing Ltd has a dividend yield of 0.90%.
What is the Return on Equity (ROE) of Indef Manufacturing Ltd?
Indef Manufacturing Ltd reported a return on equity of 8.70%. Its debt-to-equity ratio is 0.01.
Company Information
Incorporated in 2022, Indef Manufacturing Ltd is in the manufacturing business[1]
Website indef.com
CEO Mr. Amit Bhalla
Employees 188
Listed 2025-02-25
Face Value ₹ 1
Issued Size 3,20,00,000
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