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Indef Manufacturing

BAJAJINDEF NSE
₹186.79 +5.84 (+3.23%)
P/E
25.45
View as Markdown
MCP
Close 4 Nov 2026 ₹186.79 −176.36 −48.6% 1Y
Start ₹363.15

Key Fundamentals

MicrocapIndustrial ManufacturingCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
9.45%
Debt to Equity
0.01
EPS (TTM)
₹7.34
Book Value
₹84.97
Market Cap
—
P/E (TTM)
25.45
P/B
2.20
ROE
9.20%
Dividend Yield
1.11%
EBITDA
₹31.50 Cr
52W High
₹383.10
52W Low
₹171.00
Day Range
₹177.50 – ₹192.23
Volume
45,763

Peer Comparison

Industrials › Capital Goods › Industrial Products

Indef Manufacturing peer comparison
Indo-MIM
₹1,240.10106.91₹59,516 Cr18.470.55%23.40%25.00%₹3,482 Cr₹562 Cr
Aditya Infotech
₹3,999.8098.59₹46,234 Cr14.530.04%25.40%28.60%₹4,883 Cr₹477 Cr
Syrma SGS
₹1,512.6079.19₹28,543 Cr9.590.10%14.00%16.80%₹5,464 Cr₹401 Cr
Honeywell Automation
₹29,810.0047.82₹25,976 Cr5.650.38%12.60%17.00%₹4,703 Cr₹552 Cr
Jyoti CNC Automation
₹1,034.9573.19₹22,990 Cr11.010.00%18.20%21.30%₹2,191 Cr₹323 Cr
Kaynes Technology India
₹3,330.0064.57₹21,957 Cr4.710.00%8.69%12.70%₹3,899 Cr₹345 Cr
LMW
₹17,358.00106.09₹18,108 Cr6.100.21%4.05%5.58%₹3,374 Cr₹176 Cr
Indef Manufacturing (this company)
₹186.7925.45₹575 Cr2.201.11%9.20%9.45%₹202 Cr₹23 Cr
Median 8 companies₹2,421.3076.19₹24,483 Cr7.850.16%13.30%16.90%₹3,690 Cr₹373 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

47 Average

Data confidence 95/100

Category scores

Quality
65
Good
Returns, margins, earnings quality 22% weight
Valuation
57
Good
Cheap vs sector & own history 24% weight
Growth
41
Weak
Sales & profit trajectory 9% weight
Financial Health
80
Strong
Solvency, leverage, coverage 9% weight
Momentum
13
Poor
Trend strength, vol-adjusted 12% weight
Ownership
34
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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

2
  • Tax rate seems low
  • Earnings include an other income of Rs.11.0 Cr.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1063
OscillatorsBearish261
Moving AveragesStrong Bearish802

Key readings

RSI (14)
41.77
Neutral
MACD (12,26,9)
−7.71
Bullish
SMA (50)
207.81
Bearish
SMA (200)
246.99
Bearish

As of

Growth Rate

From the financial statements below. 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
1Y+16.20%
TTM+12.35%

Net profit

Net profit growth by window
1Y−32.35%
TTM−31.10%

Operating cash flow

Operating cash flow growth by window
1Y+380.00%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
1Y−6.26 pp
TTM−6.73 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2025₹179 Cr
Mar 2026₹208 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2025₹34.00 Cr
Mar 2026₹23.00 Cr

Quarterly Results

₹ Cr
BAJAJINDEF quarterly results, ₹ crore
Particulars Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
42.77
44.74
52.98
39.71
49.31
50.64
68.04
34.46
51.71
Expenses
35.97
37.27
42.3
36
43.03
46.54
58.87
35.44
46.04
Operating Profit
6.8
7.47
10.68
3.71
6.28
4.1
9.17
−0.98
5.67
OPM %
15.9%
16.7%
20.16%
9.34%
12.74%
8.1%
13.48%
−2.84%
10.96%
Other Income
5.84
3.3
4.29
5.3
2.7
4.19
−4.62
8.77
−0.07
Interest
0.11
0.1
0.09
0.1
0.11
0.08
0.08
0.1
0.11
Depreciation
1.36
1.33
1.29
1.34
1.45
1.42
2.26
1.41
1.43
PBT
11.17
9.34
13.59
7.57
7.42
6.79
2.21
6.28
4.06
Tax %
−0.98%
24.95%
25.46%
25.23%
16.17%
29.16%
−203.17%
12.74%
28.57%
Net Profit
11.28
7.02
10.13
5.65
6.22
4.9
6.82
5.5
2.9
EPS (₹)
—
2.19
3.17
1.77
1.96
1.53
2.13
1.72
—

Sep 2026: from the results filed on 2 Nov 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
BAJAJINDEF profit and loss, annual, ₹ crore
Particulars Mar 2025Mar 2026TTM
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 (₹)
10.68
7.38
7.34
Div. Payout %
0%
27%
—

Balance Sheet

₹ Cr
BAJAJINDEF balance sheet, annual, ₹ crore
Particulars Mar 2025Mar 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

₹ Cr
BAJAJINDEF cash flow, annual, ₹ crore
Particulars Mar 2025Mar 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

BAJAJINDEF financial ratios, annual
Particulars Mar 2025Mar 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

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Indef Manufacturing insights

45 extracted metrics across FY24–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 69.61%
  • Public 21.76%
  • Others 7.98%
  • FIIs 0.64%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about Indef Manufacturing

What does Indef Manufacturing Ltd do?
Incorporated in 2022, Indef Manufacturing Ltd is in the manufacturing business
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 PE ratio of Indef Manufacturing Ltd?
Indef Manufacturing Ltd trades at a PE ratio of 25.45 as of 4 Nov 2026, on earnings per share of ₹7.34, against a book value of ₹84.97 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 ₹171 and ₹383.1 as of 4 Nov 2026.
Does Indef Manufacturing Ltd pay dividends?
Indef Manufacturing Ltd has a dividend yield of 1.11%.
What is the Return on Equity (ROE) of Indef Manufacturing Ltd?
Indef Manufacturing Ltd reported a return on equity of 9.20%. Its debt-to-equity ratio is 0.01.

Company Information

Incorporated in 2022, Indef Manufacturing Ltd is in the manufacturing business

Website indef.com
CEO Mr. Amit Bhalla
Employees 188
Listed 25 Feb 2025
Face Value ₹1

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