Is Indef Manufacturing Ltd (BAJAJINDEF) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Indef Manufacturing Ltd is a below average quality company .

Is Indef Manufacturing Ltd (BAJAJINDEF) undervalued or overvalued?

The key valuation ratios of Indef Manufacturing Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Indef Manufacturing Ltd (BAJAJINDEF) share price return in the past 10 years?

Data is not available for this company

Is Indef Manufacturing Ltd (BAJAJINDEF) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Indef Manufacturing Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Indef Manufacturing Ltd (BAJAJINDEF)?

Company share prices are keep on changing according to the market conditions. The current trading price of Indef Manufacturing Ltd (BAJAJINDEF) on 17-Apr-2026 16:59:59 at 16:59 is 293.30.

What is the P/E ratio of Indef Manufacturing?

The latest standalone P/E ratio of Indef Manufacturing as of 17-Apr-2026 is 32.48.

What is the P/B ratio of Indef Manufacturing Ltd (BAJAJINDEF)?

The latest standalone P/B ratio of Indef Manufacturing Ltd (BAJAJINDEF) as of 17-Apr-2026 is 3.55.

What is the 52-week high and low of Indef Manufacturing Ltd (BAJAJINDEF)?

The 52-week high of Indef Manufacturing Ltd (BAJAJINDEF) is Rs. 580.85 and the 52-week low is Rs. 202.05.

Indef Manufacturing Ltd (BAJAJINDEF) Share Analysis – Quality, Growth & Valuation Zone & DeciZen Rating

Name: Indef Manufacturing Ltd (BAJAJINDEF)
Brand: Indef Manufacturing

Indef Manufacturing Ltd (BAJAJINDEF) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Indef Manufacturing Ltd (BAJAJINDEF)

BSE: 544364 NSE: BAJAJINDEF

Key Metrics

Market Cap

₹939 Cr.

P/E Ratio

32.48

Price to Book (P/B)

3.55

Price to Sales (P/S)

5.04

EV/EBITDA

21.49

Return on Capital Employed (ROCE)

33.57%

Current Price

₹293.3

Return on Equity (ROE)

27.07%

Return on Assets (ROA)

22.78%

Operating Profit Margin

17.3%

Net Profit Margin

19.38%

Gross Profit Margin

26.7%

Book Value per Share

₹82.7

Sales Growth (YoY)

NA%

Sales Growth (3 Years)

NA%

Operating Profit Growth (1 Year)

NA%

Operating Profit Growth (3 Years)

N/A%

Net Profit Growth (1 Year)

NA%

52-Week Low / High

₹202 / 581

Net Profit Growth (3 Years)

N/A%

Dividend Yield

0.77%

Promoter Holding

69.61%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of Indef Manufacturing Ltd?

Indef Manufacturing Ltd revenue growth is % for FY- , which is in line with its 5 year CAGR of 0% , indicating stable growth.

Q.1 Promoter shareholding and pledge status of Indef Manufacturing Ltd?

Promoters hold 69.61% of the Indef Manufacturing Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Indef Manufacturing Ltd vs industry peers?

Indef Manufacturing Ltd revenue CAGR is 0.00% , compared to the industry median CAGR of 1.47% , indicating slower growth and losing its market share.

Q.1 Which industry/sub-sector does Indef Manufacturing Ltd belong to?

Indef Manufacturing Ltd belongs to the Capital Goods & Industrial Consumables sector, operating specifically within the Engineering - Industrial Equipments segment.

Q.1 Stock return of Indef Manufacturing Ltd over the last decade?

Over the last 1 year(s), the stock has delivered a CAGR of 24.1% based on the current price.

DeciZen - make an informed investing decision on Indef Manufacturing

Based on:

Data

Overall Rating ⓘ
Login to view analysis.

1. Quality

2. Valuation ⓘ

3. Price Trend

Indef Manufacturing stock performance

Key Ratios

Is Indef Manufacturing Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'25	TTM
ROCE % ⓘ	33.6%	-
Value Creation Index ⓘ	1.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	177	186
Sales YoY Gr.	-	-
Adj EPS ⓘ	10.6	9
YoY Gr.	-	-
BVPS (₹) ⓘ	79.1	82.7
Adj Net Profit ⓘ	34	29
Cash Flow from Ops. ⓘ	5.2	-
Debt/CF from Ops. ⓘ	0	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	NA	NA	NA	NA
Adj EPS ⓘ	NA	NA	NA	NA
BVPSⓘ	NA	NA	NA	NA
Share Price	-	-	-	24.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'25	TTM
Return on Equity % ⓘ	26.9	11.2
Op. Profit Mgn % ⓘ	17.4	14.2
Net Profit Mgn % ⓘ	19.2	15.5
Debt to Equity ⓘ	0	-
Working Cap Days ⓘ	61	54
Cash Conv. Cycle ⓘ	27	23

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	9	8.4
TTM Sales (₹ Cr.)	186	193
BVPS (₹) ⓘ	82.7	82.1
Reserves (₹ Cr.) ⓘ	261	259
P/BV ⓘ	3.55	3.57
PE ⓘ	32.48	34.85

From the Market
52 Week Low / High (₹)	202.05 / 580.85
All Time Low / High (₹)	202.05 / 580.85
Market Cap (₹ Cr.)	939
Equity (₹ Cr.)	3.2
Face Value (₹)	1
Industry PE ⓘ	55.2

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Indef Manufacturing - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'23	Mar'24	Mar'25
Sales	0	0	177
Operating Expenses ⓘ +	0	0	146
Manufacturing Costs	0	0	13
Material Costs	0	0	93
Employee Cost	0	0	24
Other Costs ⓘ	0	0	16
Operating Profit ⓘ	-0	-0	31
Operating Profit Margin (%)	-	-	17.3%
Other Income ⓘ +	0	0	17
Exceptional Items ⓘ	0	0	0
Interest ⓘ	0	0	0
Depreciation ⓘ	0	0	5
Profit Before Tax ⓘ	-0	-0	42
Tax ⓘ	0	-0	8
Profit After Tax	-0	-0	34
PAT Margin (%)	-	-	19.4%
Adjusted EPS (₹)	-1.0	-4.4	10.7
Dividend Payout Ratio (%)	0%	0%	19%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	0	-0	253
Share Capital ⓘ	0	0	3
Reserves ⓘ	-0	-0	250
Debt +	0	0	0
Long Term Debt	0	0	0
Short Term Debt	0	0	0
Minority Interest	0	0	0
Trade Payables	0	0	22
Others Liabilities ⓘ	0	-0	25
Total Liabilities ⓘ	0	0	301
Fixed Assets
Net Fixed Assets ⓘ +	0	0	35
Gross Block	0	0	51
Accumulated Depreciation	0	0	16
CWIP ⓘ	0	0	2
Investments ⓘ	0	0	199
Inventories	0	0	22
Trade Receivables	0	0	31
Cash Equivalents	0	0	6
Others Assets ⓘ	0	0	5
Total Assets ⓘ	0	0	301

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-0	-0	5
PBT ⓘ	-0	-0	42
Adjustment ⓘ	0	0	-11
Changes in Working Capital ⓘ	0	0	-21
Tax Paid ⓘ	0	0	-5
Cash Flow From Investing Activity ⓘ +	0	0	-10
Capex	0	0	-9
Net Investments	0	0	-3
Others ⓘ	0	0	1
Cash Flow From Financing Activity ⓘ +	0	0	-2
Net Proceeds from Shares ⓘ	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0
Interest Paid ⓘ	0	0	0
Dividend Paid ⓘ	0	0	0
Others ⓘ	0	0	-2
Net Cash Flow ⓘ	0	0	-7

Finance Ratio

PARTICULARS	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	N/A	N/A	27.07
ROCE (%)	N/A	N/A	33.57
Asset Turnover Ratio	0	0	1.18
PAT to CFO Conversion(x)	N/A	N/A	0.15
Working Capital Days
Receivable Days	0	0	64
Inventory Days	0	0	46
Payable Days	0	0	43

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Announcements

Indef Manufacturing Ltd FAQs

The current trading price of Indef Manufacturing on 17-Apr-2026 16:59 is ₹293.3.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 16-Apr-2026 the market cap of Indef Manufacturing stood at ₹938.6 Cr

The latest P/E ratio of Indef Manufacturing as of 16-Apr-2026 is 32.48.

The latest P/B ratio of Indef Manufacturing as of 16-Apr-2026 is 3.55.

The 52-week high of Indef Manufacturing is ₹580.9 and the 52-week low is ₹202.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Indef Manufacturing is ₹186 ( Cr.) .

About Indef Manufacturing Ltd

Indef Manufacturing Limited (IML) was born from the restructuring of Hercules Hoists (HHL). HHL underwent a demerger on August 2, 2024, following an Order from the National Company Law Tribunal, Mumbai. This transformation resulted in the creation of two distinct companies - HHL and IML - each focused on their respective core competencies. This demerger has allowed for a clearer distinction between HHL’s investment activities and its manufacturing operations, which are now fully owned and operated by IML.

The company carries forward the renowned Bajaj Indef brand - a name synonymous with innovation, reliability, and excellence in the material handling industry. For decades, the Bajaj Indef brand has been a leader in manufacturing hoists, cranes, and lifting solutions, known for its commitment to quality and sustainability.

Under its new identity, IML will focus exclusively on manufacturing operations, ensuring that the legacy of the Bajaj Indef brand continues to grow. With the freedom to concentrate on expanding its product lines and markets, IML is poised to reinforce its leadership in material handling solutions and drive future growth.

Business area of the company

The company focuses exclusively on manufacturing operations, ensuring that the legacy of the Bajaj Indef brand continues to grow. Bajaj Indef brand has been a leader in manufacturing hoists, cranes, and lifting solutions, known for its commitment to quality and sustainability.

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Indef Manufacturing Ltd (BAJAJINDEF) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Indef Manufacturing Share Price