Indef Manufacturing Limited

Indef Manufacturing Limited - machinery and equipment in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L29308MH2022PLC390286 Incorporated 12 September 2022 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed Public Limited Company machinery and equipment
Data last updated
Market Cap
₹699 Cr
BAJAJINDEF · NSE
Share Price
₹218.09
-0.13% today
Revenue
₹208 Cr
FY 2025-26 · +25.0% YoY
EBITDA
₹22.66 Cr
Margin 10.9%
Net Profit
₹24.04 Cr
FY 2025-26 · -29.6% YoY
P/E (TTM)
30.0x
P/B 2.6x
ROE
8.9%
ROCE 9.2%
Debt / Equity
0.01
Interest cover 2.4x

About Indef Manufacturing Limited

Data last updated: 26 September 2026

Indef Manufacturing Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Hercules Hoists Limited. It specialises in material handling and storage equipment, a part of the broader machinery and industrial equipment sector. Incorporated on 12 September 2022.

Registered with ROC Mumbai under CIN L29308MH2022PLC390286. Listed.

Capital: an authorised share capital of ₹4 Cr and a paid-up capital of ₹3.2 Cr. It is led by directors including Vandan Sitaram Shah and Amit Bhalla.

Last AGM: 12 August 2025. Financial statements filed for year ended 31 March 2025. Office: Bajaj Bhawan 2Nd Floor 226 Jamnalal Bajaj Marg Nariman Point, Mumbai, Maharashtra, India – 400021.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹207.69 Cr, a growth of 16.27% compared to the previous year. The net worth stands at ₹269.77 Cr (up 6.67% YoY). Total assets are valued at ₹272.7 Cr (up 5.89% YoY).

The company has a workforce of approximately 182 employees as per the latest available data. It operates as a subsidiary of Hercules Hoists Limited.

As per MCA filings, the company has open charges of ₹10 Cr on record.

The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indef.com.

Company Details of Indef Manufacturing Limited
CIN L29308MH2022PLC390286
Registration Number 390286
Incorporation Date 12 September 2022
ROC Mumbai
Listing Status Listed
Company Status Active
Date of Last AGM 12 August 2025
Date of Balance Sheet 31 March 2025
Parent Company Hercules Hoists Limited
Compliance Status Active Compliant
Key People
Amit Bhalla Managing Director Vandan Sitaram Shah Director Shekhar Bajaj Director
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    indef.com
  • Social Media
  • Registered Address
    Bajaj Bhawan 2Nd Floor 226 Jamnalal Bajaj Marg Nariman Point, Mumbai, Maharashtra, India – 400021
  • Industry
    Machinery and Equipment, Material Handling & Storage Equipment
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Financials, compliance, directors, charges, ownership and filings for Indef Manufacturing Limited in one report.

10-year financials Directors & ownership Charges & compliance

CIN History of Indef Manufacturing Limited

Indef Manufacturing Limited has one previous CIN (Corporate Identification Number): U29308MH2022PLC390286. The current CIN is L29308MH2022PLC390286, which is the unique identifier assigned by the Registrar of Companies.

CIN Status
L29308MH2022PLC390286 Current
U29308MH2022PLC390286 Previous

Auditor Details of Indef Manufacturing Limited

Indef Manufacturing Limited is audited by Kanu Doshi Associates LLP for the financial year 2025. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.

Name Status Appointment Date Cessation Date
Kanu Doshi Associates LLP Locked Locked Locked
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Complete auditor history for Indef Manufacturing Limited

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Board of Directors of Indef Manufacturing Limited

Indef Manufacturing Limited is currently managed by 8 directors, with 6 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.

Current Directors
Name Designation Appointment Date Tenure Status
Vandan Sitaram Shah
Also directs: Indef Manufacturing Limited, Hind Rectifiers Limited, Sipra Engineers Private Limited and 1 more
Director 27 May 2025 1 Years 4 Months Current
Amit Bhalla
Also directs: Indef Manufacturing Limited, Consolidated Swift Industries Limited, Daedalus Lift & Access Equipments Private Limited
Managing Director 01 Oct 2024 1 Years 11 Months Current
Shekhar Bajaj
Also directs: Srjb Family Llp, Indef Manufacturing Limited, Bajaj Electricals Limited and 5 more
Director 12 Sep 2022 4 Years 0 Months Current
Girija Balakrishnan
Also directs: Indef Manufacturing Limited, Hercules Investments Limited, I G Petrochemicals Limited and 5 more
Director 12 Aug 2024 2 Years 1 Months Current
Vikram Taranath Hosangady
Also directs: Indef Manufacturing Limited, Bajaj Electricals Limited, Chemplast Sanmar Limited and 2 more
Director 12 Aug 2024 2 Years 1 Months Current
Jayavanth Kallianpur Mallya
Also directs: Indef Manufacturing Limited, Hercules Investments Limited, Hindustan Housing Company Limited and 1 more
Director 12 Aug 2024 2 Years 1 Months Current
Showing 6 of 8 current directors. View all directors

Financials of Indef Manufacturing Limited FY 2025-26 filings available

Indef Manufacturing Limited reported revenue of ₹207.69 Cr (up 16.27% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹208 Cr
+16.3% YoY
EBITDA
₹22.66 Cr
-25.9% YoY
Profit After Tax
₹24.04 Cr
-29.6% YoY
Net Worth
₹270 Cr
+6.7% YoY
Total Assets
₹273 Cr
+5.9% YoY
Total Debt
₹2.93 Cr
-24.3% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25
Income statement
Revenue208179
Revenue growth+25.0%+9997.0%
EBITDA22.6630.58
EBITDA margin+10.9%+17.1%
Profit before tax23.9941.95
Net profit24.0434.16
Net profit margin+11.6%+19.1%
EPS (₹)7.3810.68
Balance sheet
Total assets273258
Net worth270253
Total debt2.933.87
Cash & bank6.506.17
Net working capital21.5432.37
Cash flow
Cash from operations23.524.82
Cash from investing(14.53)(9.69)
Cash from financing(8.96)(1.97)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue34.4668.0450.6449.3139.7152.9844.7442.77
Revenue growth (YoY)-13.2%+28.4%+13.2%+15.3%+4.1%+9997.0%+9997.0%+9997.0%
Other income8.77(4.39)4.582.705.304.293.305.84
EBITDA(0.98)8.943.716.283.7210.687.476.80
EBITDA margin-2.8%+13.1%+7.3%+12.7%+9.4%+20.2%+16.7%+15.9%
Depreciation1.412.261.421.451.341.291.331.36
Interest0.100.080.080.110.100.090.100.11
Profit before tax6.282.216.797.427.5813.599.3411.17
Tax0.80(4.49)1.981.201.913.462.33(0.11)
Net profit5.486.704.816.225.6710.137.0111.28
EPS (₹)1.722.131.531.961.773.172.193.53
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Income statement
Revenue1961771800.00
Revenue growth+16.8%-2.9%-+9997.0%
EBITDA25.1230.6529.10(0.01)
EBITDA margin+12.8%+17.3%+16.2%-
Profit before tax27.8542.0437.52(0.01)
Net profit26.5034.2427.14(0.01)
Net profit margin+13.5%+19.4%+15.1%-
EPS (₹)8.1410.708.48(0.95)
Balance sheet
Total assets2752582250.00
Net worth2722532190.00
Total debt2.073.875.420.00
Cash & bank4.406.1412.580.00
Net working capital29.9632.6717.310.00
Cash flow
Cash from operations31.705.2129.46(0.01)
Cash from investing(25.21)(10.11)(31.02)0.01
Cash from financing(8.47)(1.97)(1.88)0.00
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue28.2461.0648.6347.8538.1351.5944.2242.77
Revenue growth (YoY)-25.9%+18.4%+10.0%+11.9%-0.0%-10.0%+10.7%+9997.0%
Other income9.13(4.10)4.752.805.324.303.315.84
Total expenses29.4351.2643.8341.1934.2840.9236.6935.93
EBITDA(1.19)9.804.806.663.8510.677.536.84
EBITDA margin-4.2%+16.0%+9.9%+13.9%+10.1%+20.7%+17.0%+16.0%
Depreciation1.172.001.171.331.271.281.331.36
Interest0.040.050.060.070.080.090.100.11
Profit before tax6.733.658.328.067.8213.609.4111.21
Tax0.89(3.64)2.121.351.953.452.34(0.11)

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 26 Sep 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue34.4668.0450.6449.3139.7152.9844.7442.77
Revenue growth (YoY)-13.2%+28.4%+13.2%+15.3%+4.1%+9997.0%+9997.0%+9997.0%
Other income8.77(4.39)4.582.705.304.293.305.84
EBITDA(0.98)8.943.716.283.7210.687.476.80
EBITDA margin-2.8%+13.1%+7.3%+12.7%+9.4%+20.2%+16.7%+15.9%
Depreciation1.412.261.421.451.341.291.331.36
Interest0.100.080.080.110.100.090.100.11
Profit before tax6.282.216.797.427.5813.599.3411.17
Tax0.80(4.49)1.981.201.913.462.33(0.11)
Net profit5.486.704.816.225.6710.137.0111.28
EPS (₹)1.722.131.531.961.773.172.193.53
ParticularsFY 2025-26FY 2024-25
Revenue208179
Revenue growth+25.0%+9997.0%
Other income8.1816.97
Total expenses185148
Employee cost30.3023.92
EBITDA22.6630.58
EBITDA margin+10.9%+17.1%
Depreciation6.475.17
Interest0.380.43
Profit before tax23.9941.95
Tax0.607.79
Net profit24.0434.16
Net profit margin+11.6%+19.1%
EPS (₹)7.3810.68
ParticularsFY 2025-26FY 2024-25
Equity & liabilities
Share capital3.203.20
Reserves & surplus267250
Shareholders' funds (net worth)270253
Minority interest(0.86)0.00
Secured loans0.000.00
Unsecured loans2.933.87
Total debt2.933.87
Total liabilities273258
Assets
Gross block66.1351.24
Net block45.6234.79
Capital work in progress0.172.48
Investments210199
Inventories31.5222.18
Sundry debtors31.9532.02
Cash & bank balances6.506.17
Loans & advances4.463.02
Total current assets74.4363.39
Total current liabilities52.8931.02
Net working capital21.5432.37
Total assets273258
ParticularsFY 2025-26FY 2024-25
Opening cash5.5212.37
Net cash from operating activities23.524.82
Net cash from investing activities(14.53)(9.69)
Net cash from financing activities(8.96)(1.97)
Net change in cash0.04(6.85)
Closing cash6.506.17
ParticularsFY 2025-26FY 2024-25
Growth
Sales growth+16.3%+9997.0%
EBITDA growth-25.9%+9997.0%
PBT growth-42.8%+9997.0%
Net income growth-29.6%+9997.0%
Profitability & leverage
Net income margin+11.3%+19.1%
Return on capital employed+9.2%+16.5%
Return on net worth+9.0%+13.5%
Debt / equity0.010.02
Long-term debt / equity0.000.01
Interest cover2.351.69
Efficiency & per share
Fixed asset turnover3.543.49
Inventory turnover7.748.05
Debtors turnover6.495.58
EPS (₹)7.3810.68
Dividend per share (₹)2.000.00
Book value per share (₹)84.3079.03
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue28.2461.0648.6347.8538.1351.5944.2242.77
Revenue growth (YoY)-25.9%+18.4%+10.0%+11.9%-0.0%-10.0%+10.7%+9997.0%
Other income9.13(4.10)4.752.805.324.303.315.84
Total expenses29.4351.2643.8341.1934.2840.9236.6935.93
EBITDA(1.19)9.804.806.663.8510.677.536.84
EBITDA margin-4.2%+16.0%+9.9%+13.9%+10.1%+20.7%+17.0%+16.0%
Depreciation1.172.001.171.331.271.281.331.36
Interest0.040.050.060.070.080.090.100.11
Profit before tax6.733.658.328.067.8213.609.4111.21
Tax0.89(3.64)2.121.351.953.452.34(0.11)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Revenue1961771800.00
Revenue growth+16.8%-2.9%-+9997.0%
Other income8.7816.9813.300.00
Total expenses1711461500.01
Employee cost28.2223.6223.150.00
EBITDA25.1230.6529.10(0.01)
EBITDA margin+12.8%+17.3%+16.2%-
Depreciation5.775.164.330.00
Interest0.280.430.550.00
Profit before tax27.8542.0437.52(0.01)
Tax1.797.8010.380.00
Net profit26.5034.2427.14(0.01)
Net profit margin+13.5%+19.4%+15.1%-
EPS (₹)8.1410.708.48(0.95)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Equity & liabilities
Share capital3.203.203.200.01
Reserves & surplus269250216(0.01)
Shareholders' funds (net worth)2722532190.00
Secured loans0.000.000.000.00
Unsecured loans2.073.875.420.00
Total debt2.073.875.420.00
Total liabilities2752582250.00
Assets
Gross block55.2851.0648.670.00
Net block35.2634.6233.790.00
Capital work in progress0.172.480.030.00
Investments2151991810.00
Inventories26.4322.1822.560.00
Sundry debtors25.6531.2219.470.00
Cash & bank balances4.406.1412.580.00
Loans & advances16.853.306.150.00
Total current assets73.3362.8460.760.00
Total current liabilities43.3730.1743.450.00
Net working capital29.9632.6717.310.00
Total assets2752582250.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Opening cash5.4812.3715.810.00
Net cash from operating activities31.705.2129.46(0.01)
Net cash from investing activities(25.21)(10.11)(31.02)0.01
Net cash from financing activities(8.47)(1.97)(1.88)0.00
Net change in cash(1.98)(6.88)(3.44)0.00
Closing cash4.406.1412.580.00
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23
Growth
Sales growth+10.7%-1.6%+9997.0%+9997.0%
EBITDA growth-18.0%+5.3%+9998.0%+9997.0%
PBT growth-33.8%+12.1%+9998.0%+9997.0%
Net income growth-22.6%+26.2%+9998.0%+9997.0%
Profitability & leverage
Net income margin+13.3%+19.4%+15.1%-
Return on capital employed+10.6%+17.6%+33.9%0.0%
Return on net worth+9.9%+14.5%+24.8%0.0%
Debt / equity0.010.020.020.00
Long-term debt / equity0.000.010.020.00
Interest cover1.451.692.220.00
Efficiency & per share
Fixed asset turnover3.683.547.380.00
Inventory turnover8.057.9015.920.00
Debtors turnover6.886.9718.440.00
EPS (₹)8.1410.708.48(0.95)
Dividend per share (₹)0.000.000.000.00
Book value per share (₹)85.0979.0668.350.05
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Shareholding Pattern of Indef Manufacturing Limited

As per the shareholding pattern for the quarter ended Jun 2026, promoters hold 69.60%, foreign institutional investors hold 1.10%, domestic institutional investors hold 0.00%, retail and other public shareholders hold 29.30% of Indef Manufacturing Limited.

Promoters: 69.60%FII (Foreign Institutional): 1.10%Retail & Others: 29.30%
Jun 2026
QUARTER
69.60% Promoters
1.10% FII (Foreign Institutional)
29.30% Retail & Others
Promoter holding - history
Now 69.60% · Jun 2026High 69.60% · Sep 2025Low 69.60% · Sep 2025
68%68.8%69.5%70.3%71%Sep 2025Dec 2025Mar 2026Jun 2026Sep 2025: 69.60%Dec 2025: 69.60%Mar 2026: 69.60%Jun 2026: 69.60%69.60%69.60%
Shareholding trend - last 6 quarters
Jun 2026Mar 2026Dec 2025Sep 2025
Promoters69.60%69.60%69.60%69.60%
Public30.40%30.40%30.40%30.40%

Charges & Borrowings of Indef Manufacturing Limited

Open charges
₹10 Cr
Satisfied charges
₹0
Breakdown by lending institutions
Hdfc Bank Limited₹10.00 Cr
Latest charge details
DateLenderAmountStatus
06 Jan 2025 Hdfc Bank Limited ₹10 Cr Open

Total charge records: 1 View all charges

Employees and EPFO Compliance at Indef Manufacturing Limited

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GST Compliance of Indef Manufacturing Limited

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Credit Ratings, Litigation & Regulatory Alerts for Indef Manufacturing Limited

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MSME Payment Delays by Indef Manufacturing Limited

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Subsidiaries & Group Companies of Indef Manufacturing Limited

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Corporate group structure for Indef Manufacturing Limited

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MCA Filings & Documents of Indef Manufacturing Limited

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MCA filings and documents for Indef Manufacturing Limited

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Recent Activity on Indef Manufacturing Limited

Directors
25 May 2026
Pooja Bajaj was appointed as a Additional Director on 25 May 2026 & has been associated with this company since 4 months 5 days.
Directors
25 May 2026
Mahendrakumar Amritlal Gohel was appointed as a Additional Director on 25 May 2026 & has been associated with this company since 4 months 5 days.
Activity
12 Aug 2025
Indef Manufacturing Limited last Annual general meeting of members was held on 12 Aug 2025 as per latest MCA records.
Directors
27 May 2025
Vandan Sitaram Shah was appointed as a Director on 27 May 2025 & has been associated with this company since 1 year 4 months.
Activity
31 Mar 2025
Indef Manufacturing Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai I.
Directors
15 Mar 2025
Bijay Kumar Agrawal was appointed as a Cfo on 15 Mar 2025 & has been associated with this company since 1 year 6 months.

Recent News on Indef Manufacturing Limited

Frequently Asked Questions about Indef Manufacturing Limited

Indef Manufacturing Limited is an active public limited company in the machinery and equipment sector based in Mumbai, Maharashtra, India. It was incorporated on 12 September 2022 (4+ years old) and is registered under CIN L29308MH2022PLC390286. The company has 182 employees.

Indef Manufacturing Limited reported revenue of ₹207.69 Cr for FY 2025-26 (up 16.27% YoY) based on consolidated financials.

The current directors of Indef Manufacturing Limited are:

The primary industry of Indef Manufacturing Limited is machinery and equipment. The company specifically operates in material handling and storage equipment. The company is currently active in this sector.

Yes, Indef Manufacturing Limited is a listed company.

Indef Manufacturing Limited can be reached at the registered office: Bajaj Bhawan 2Nd Floor 226 Jamnalal Bajaj Marg Nariman Point, Mumbai, Maharashtra, India – 400021, or through the website indef.com.

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