About Indef Manufacturing Limited
Data last updated: 08 January 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 financials filed for FY 2025, the company reported a revenue of ₹193.69 Cr, a growth of 0% compared to the previous year.
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.
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Email*****@*****.com
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Telephone+91-****-******
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Website
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Social Media
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Registered AddressBajaj Bhawan 2Nd Floor 226 Jamnalal Bajaj Marg Nariman Point, Mumbai, Maharashtra, India – 400021
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IndustryMachinery and Equipment, Material Handling & Storage Equipment
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
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 (ICAI peer reviewed, certificate valid till 2028-12-31) for the financial year 2026, as reported in its NSE exchange filings. The statutory auditor is responsible for expressing an independent opinion on whether the financial statements present a true and fair view in accordance with applicable accounting standards.
| Name | Financial year | Audit opinion |
|---|---|---|
| KANU DOSHI ASSOCIATES LLP (ICAI peer reviewed, certificate valid till 2028-12-31) | FY 2026 | Declaration of unmodified opinion |
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.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
|
Vandan Sitaram Shah
Also directs:
Indef Manufacturing Limited, Hercules Investments Limited, Hind Rectifiers Limited and 2 more
|
Director | 27 May 2025 | 1 Years 1 Months | Current |
| Amit Bhalla | Managing Director | 01 Oct 2024 | 1 Years 9 Months | Current |
| Shekhar Bajaj | Director | 12 Sep 2022 | 3 Years 9 Months | Current |
|
Girija Balakrishnan
Also directs:
Indef Manufacturing Limited, Hercules Investments Limited, I G Petrochemicals Limited and 5 more
|
Director | 12 Aug 2024 | 1 Years 10 Months | Current |
|
Vikram Taranath Hosangady
Also directs:
Indef Manufacturing Limited, Bajaj Electricals Limited, Chemplast Sanmar Limited and 2 more
|
Director | 12 Aug 2024 | 1 Years 10 Months | Current |
|
Jayavanth Kallianpur Mallya
Also directs:
Indef Manufacturing Limited, Hercules Investments Limited, Hindustan Housing Company Limited and 1 more
|
Director | 12 Aug 2024 | 1 Years 10 Months | Current |
Financials of Indef Manufacturing Limited FY 2026 filings available
Indef Manufacturing Limited reported revenue of ₹207.69 Cr (up 16.27% YoY) for FY 2026. Profit growth despite declining revenue indicates effective cost management and margin discipline.
| Metrics | FY 2026 | FY 2025 |
|---|---|---|
| Revenue from Operations | ₹207.69 Cr | ₹178.63 Cr |
| Other Income | ₹8.18 Cr | ₹16.97 Cr |
| Total Income | ₹215.88 Cr | ₹195.6 Cr |
| Cost of Materials Consumed | ₹106.44 Cr | ₹95.49 Cr |
| Purchases of Stock-in-Trade | ₹9.89 Cr | ₹0 |
| Changes in Inventories | -₹3.46 Cr | -₹79.37 Lakh |
| Employee Benefit Expense | ₹30.3 Cr | ₹23.92 Cr |
| Finance Costs | ₹37.95 Lakh | ₹42.51 Lakh |
| Depreciation & Amortisation | ₹6.47 Cr | ₹5.17 Cr |
| Other Expenses | ₹41.26 Cr | ₹29.43 Cr |
| Total Expenses | ₹191.27 Cr | ₹153.65 Cr |
| Profit Before Exceptional Items & Tax | ₹24.61 Cr | ₹41.95 Cr |
| Exceptional Items | -₹61.65 Lakh | ₹0 |
| Profit Before Tax | ₹23.99 Cr | ₹41.95 Cr |
| Total Tax Expense | ₹59.51 Lakh | ₹7.79 Cr |
| Net Profit | ₹23.39 Cr | ₹34.16 Cr |
| attributable to NCI | -₹24.05 Lakh | - |
| Other Comprehensive Income | ₹25.82 Lakh | ₹3.47 Lakh |
| Total Comprehensive Income | ₹23.65 Cr | ₹34.2 Cr |
| EBITDA (computed) | ₹31.45 Cr | ₹47.55 Cr |
| Basic EPS | ₹7.38 | ₹10.68 |
| Diluted EPS | ₹7.38 | ₹10.68 |
| Metrics | FY 2026 | FY 2025 |
|---|---|---|
| Total Assets | ₹332.23 Cr | ₹301.4 Cr |
| Non-current Assets | ₹257.79 Cr | ₹238.01 Cr |
| Current Assets | ₹74.44 Cr | ₹63.39 Cr |
| Property, Plant & Equipment | ₹30.58 Cr | ₹26.86 Cr |
| Inventories | ₹31.52 Cr | ₹22.18 Cr |
| Trade Receivables | ₹31.95 Cr | ₹32.02 Cr |
| Cash & Equivalents | ₹5.56 Cr | ₹5.52 Cr |
| Equity (Net Worth) | ₹268.91 Cr | ₹252.9 Cr |
| Equity Share Capital | ₹3.2 Cr | ₹3.2 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 |
| Total Debt (computed) | ₹0 | ₹0 |
| Current Liabilities | ₹55.35 Cr | ₹32.81 Cr |
| Total Liabilities | ₹63.32 Cr | ₹48.5 Cr |
| Metrics | FY 2026 | FY 2025 |
|---|---|---|
| Operating Cash Flow | ₹23.29 Cr | ₹4.82 Cr |
| Investing Cash Flow | -₹14.29 Cr | -₹10.28 Cr |
| Financing Cash Flow | -₹8.96 Cr | -₹1.38 Cr |
| Capital Expenditure | ₹5.45 Cr | ₹8.8 Cr |
| Free Cash Flow (computed) | ₹17.83 Cr | -₹3.98 Cr |
| Dividends Paid | ₹6.4 Cr | ₹0 |
| Net Change in Cash | ₹3.62 Lakh | -₹6.85 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹68.04 Cr | ₹50.64 Cr | ₹49.31 Cr | ₹39.71 Cr | ₹52.98 Cr | ₹44.74 Cr |
| Other Income | -₹4.39 Cr | ₹4.58 Cr | ₹2.7 Cr | ₹5.3 Cr | ₹4.29 Cr | ₹3.3 Cr |
| Total Income | ₹63.65 Cr | ₹55.22 Cr | ₹52.01 Cr | ₹45 Cr | ₹57.27 Cr | ₹48.04 Cr |
| Cost of Materials Consumed | ₹32.76 Cr | ₹28.23 Cr | ₹27.33 Cr | ₹22.71 Cr | ₹28.28 Cr | ₹22.85 Cr |
| Purchases of Stock-in-Trade | ₹5.3 Cr | ₹0 | -₹87.53 Lakh | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | -₹51.82 Lakh | -₹64.48 Lakh | ₹0 | -₹1.42 Cr | -₹1.16 Cr | ₹50.07 Lakh |
| Employee Benefit Expense | ₹9.08 Cr | ₹7.42 Cr | ₹7.18 Cr | ₹6.62 Cr | ₹6.75 Cr | ₹5.83 Cr |
| Finance Costs | ₹8.48 Lakh | ₹8.16 Lakh | ₹11.2 Lakh | ₹10.11 Lakh | ₹9.32 Lakh | ₹10.2 Lakh |
| Depreciation & Amortisation | ₹2.26 Cr | ₹1.42 Cr | ₹1.45 Cr | ₹1.34 Cr | ₹1.29 Cr | ₹1.33 Cr |
| Other Expenses | ₹12.25 Cr | ₹11.54 Cr | ₹9.39 Cr | ₹8.08 Cr | ₹8.42 Cr | ₹8.09 Cr |
| Total Expenses | ₹61.22 Cr | ₹48.04 Cr | ₹44.58 Cr | ₹37.43 Cr | ₹43.68 Cr | ₹38.7 Cr |
| Profit Before Exceptional Items & Tax | ₹2.43 Cr | ₹7.18 Cr | ₹7.42 Cr | ₹7.57 Cr | ₹13.59 Cr | ₹9.34 Cr |
| Exceptional Items | -₹22.76 Lakh | -₹38.89 Lakh | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹2.2 Cr | ₹6.79 Cr | ₹7.42 Cr | ₹7.57 Cr | ₹13.59 Cr | ₹9.34 Cr |
| Total Tax Expense | -₹4.49 Cr | ₹1.97 Cr | ₹1.2 Cr | ₹1.92 Cr | ₹3.46 Cr | ₹2.32 Cr |
| Net Profit | ₹6.7 Cr | ₹4.82 Cr | ₹6.22 Cr | ₹5.65 Cr | ₹10.13 Cr | ₹7.02 Cr |
| attributable to Owners | - | ₹0 | ₹0 | - | - | - |
| attributable to NCI | -₹13.11 Lakh | -₹7.44 Lakh | ₹3.5 Lakh | - | - | - |
| Other Comprehensive Income | ₹33.71 Lakh | -₹4.15 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | ₹14.43 Lakh | -₹3.65 Lakh |
| Total Comprehensive Income | ₹7.03 Cr | ₹4.78 Cr | ₹6.21 Cr | ₹5.63 Cr | ₹10.27 Cr | ₹6.98 Cr |
| EBITDA (computed) | ₹4.78 Cr | ₹8.68 Cr | ₹8.98 Cr | ₹9.01 Cr | ₹14.97 Cr | ₹10.77 Cr |
| Basic EPS | ₹2.13 | ₹1.53 | ₹1.96 | ₹1.77 | ₹3.17 | ₹2.19 |
| Diluted EPS | ₹2.13 | ₹1.53 | ₹1.96 | ₹1.77 | ₹3.17 | ₹2.19 |
| Metrics | FY 2026 | FY 2025 |
|---|---|---|
| Revenue from Operations | ₹195.67 Cr | ₹176.72 Cr |
| Other Income | ₹8.78 Cr | ₹16.98 Cr |
| Total Income | ₹204.45 Cr | ₹193.69 Cr |
| Cost of Materials Consumed | ₹103.89 Cr | ₹94.2 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 |
| Changes in Inventories | ₹30,000 | -₹79.37 Lakh |
| Employee Benefit Expense | ₹28.22 Cr | ₹23.62 Cr |
| Finance Costs | ₹27.56 Lakh | ₹42.51 Lakh |
| Depreciation & Amortisation | ₹5.77 Cr | ₹5.16 Cr |
| Other Expenses | ₹37.84 Cr | ₹29.04 Cr |
| Total Expenses | ₹176 Cr | ₹151.65 Cr |
| Profit Before Exceptional Items & Tax | ₹28.45 Cr | ₹42.05 Cr |
| Exceptional Items | -₹61.44 Lakh | ₹0 |
| Profit Before Tax | ₹27.84 Cr | ₹42.05 Cr |
| Total Tax Expense | ₹1.79 Cr | ₹7.81 Cr |
| Net Profit | ₹26.05 Cr | ₹34.24 Cr |
| Other Comprehensive Income | ₹28.27 Lakh | ₹3.47 Lakh |
| Total Comprehensive Income | ₹26.33 Cr | ₹34.27 Cr |
| EBITDA (computed) | ₹34.5 Cr | ₹47.63 Cr |
| Basic EPS | ₹8.14 | ₹10.70 |
| Diluted EPS | ₹8.14 | ₹10.70 |
| Metrics | FY 2026 | FY 2025 |
|---|---|---|
| Total Assets | ₹325.57 Cr | ₹300.64 Cr |
| Non-current Assets | ₹252.24 Cr | ₹237.81 Cr |
| Current Assets | ₹73.33 Cr | ₹62.83 Cr |
| Property, Plant & Equipment | ₹29.35 Cr | ₹26.69 Cr |
| Inventories | ₹26.43 Cr | ₹22.18 Cr |
| Trade Receivables | ₹25.65 Cr | ₹31.22 Cr |
| Cash & Equivalents | ₹3.5 Cr | ₹5.48 Cr |
| Equity (Net Worth) | ₹272.29 Cr | ₹252.98 Cr |
| Equity Share Capital | ₹3.2 Cr | ₹3.2 Cr |
| Borrowings (Non-current) | ₹0 | ₹0 |
| Borrowings (Current) | ₹0 | ₹0 |
| Total Debt (computed) | ₹0 | ₹0 |
| Current Liabilities | ₹45.44 Cr | ₹31.97 Cr |
| Total Liabilities | ₹53.28 Cr | ₹47.66 Cr |
| Metrics | FY 2026 | FY 2025 |
|---|---|---|
| Operating Cash Flow | ₹31.7 Cr | ₹5.21 Cr |
| Investing Cash Flow | -₹25.21 Cr | -₹10.11 Cr |
| Financing Cash Flow | -₹8.47 Cr | -₹1.97 Cr |
| Capital Expenditure | ₹4.19 Cr | ₹8.62 Cr |
| Free Cash Flow (computed) | ₹27.51 Cr | -₹3.41 Cr |
| Dividends Paid | ₹6.4 Cr | ₹0 |
| Net Change in Cash | -₹1.98 Cr | -₹6.88 Cr |
| Metrics | Q4 FY26 | Q3 FY26 | Q2 FY26 | Q1 FY26 | Q4 FY25 | Q3 FY25 |
|---|---|---|---|---|---|---|
| Revenue from Operations | ₹61.06 Cr | ₹48.63 Cr | ₹47.85 Cr | ₹38.13 Cr | ₹51.59 Cr | ₹44.22 Cr |
| Other Income | -₹4.1 Cr | ₹4.75 Cr | ₹2.8 Cr | ₹5.32 Cr | ₹4.3 Cr | ₹3.31 Cr |
| Total Income | ₹56.97 Cr | ₹53.38 Cr | ₹50.65 Cr | ₹43.45 Cr | ₹55.89 Cr | ₹47.52 Cr |
| Cost of Materials Consumed | ₹31.4 Cr | ₹26.16 Cr | ₹26.36 Cr | ₹19.98 Cr | ₹27.33 Cr | ₹22.51 Cr |
| Purchases of Stock-in-Trade | ₹0 | ₹0 | -₹93.69 Lakh | ₹0 | ₹0 | ₹0 |
| Changes in Inventories | ₹95.16 Lakh | -₹19.48 Lakh | ₹0 | ₹18.31 Lakh | -₹1.16 Cr | ₹50.07 Lakh |
| Employee Benefit Expense | ₹8.31 Cr | ₹6.69 Cr | ₹6.81 Cr | ₹6.41 Cr | ₹6.57 Cr | ₹5.74 Cr |
| Finance Costs | ₹5.37 Lakh | ₹6.4 Lakh | ₹7.4 Lakh | ₹8.39 Lakh | ₹9.32 Lakh | ₹10.2 Lakh |
| Depreciation & Amortisation | ₹2 Cr | ₹1.17 Cr | ₹1.33 Cr | ₹1.27 Cr | ₹1.28 Cr | ₹1.33 Cr |
| Other Expenses | ₹10.37 Cr | ₹10.79 Cr | ₹8.97 Cr | ₹7.7 Cr | ₹8.19 Cr | ₹7.94 Cr |
| Total Expenses | ₹53.09 Cr | ₹44.68 Cr | ₹42.6 Cr | ₹35.63 Cr | ₹42.29 Cr | ₹38.12 Cr |
| Profit Before Exceptional Items & Tax | ₹3.88 Cr | ₹8.7 Cr | ₹8.05 Cr | ₹7.82 Cr | ₹13.59 Cr | ₹9.4 Cr |
| Exceptional Items | -₹22.76 Lakh | -₹38.68 Lakh | ₹0 | ₹0 | ₹0 | ₹0 |
| Profit Before Tax | ₹3.65 Cr | ₹8.32 Cr | ₹8.05 Cr | ₹7.82 Cr | ₹13.59 Cr | ₹9.4 Cr |
| Total Tax Expense | -₹3.64 Cr | ₹2.12 Cr | ₹1.35 Cr | ₹1.96 Cr | ₹3.46 Cr | ₹2.34 Cr |
| Net Profit | ₹7.29 Cr | ₹6.2 Cr | ₹6.7 Cr | ₹5.86 Cr | ₹10.14 Cr | ₹7.06 Cr |
| Other Comprehensive Income | ₹39.86 Lakh | -₹7.87 Lakh | -₹1.87 Lakh | -₹1.87 Lakh | ₹14.43 Lakh | -₹3.65 Lakh |
| Total Comprehensive Income | ₹7.69 Cr | ₹6.12 Cr | ₹6.68 Cr | ₹5.85 Cr | ₹10.28 Cr | ₹7.03 Cr |
| EBITDA (computed) | ₹5.93 Cr | ₹9.94 Cr | ₹9.45 Cr | ₹9.17 Cr | ₹14.96 Cr | ₹10.83 Cr |
| Basic EPS | ₹2.28 | ₹1.94 | ₹2.09 | ₹1.83 | ₹3.17 | ₹2.21 |
| Diluted EPS | ₹2.28 | ₹1.94 | ₹2.09 | ₹1.83 | ₹3.17 | ₹2.21 |
Shareholding Pattern of Indef Manufacturing Limited
As per the shareholding pattern filed with NSE for the quarter ended Mar 2026, promoters hold 69.61%, foreign institutional investors hold 1.57%, domestic institutional investors hold 0.13%, retail and other public shareholders hold 28.69% of Indef Manufacturing Limited. The company had 19,622 shareholders on record.
| Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Feb 2025 | |
|---|---|---|---|---|---|---|
| Promoters | 69.61% | 69.61% | 69.61% | 69.61% | 69.61% | 69.61% |
| Public | 30.39% | 30.39% | 30.39% | 30.39% | 30.39% | 30.39% |
| Mar 2026 | Mar 2025 | |
|---|---|---|
| Promoters | 69.61% | 69.61% |
| Public | 30.39% | 30.39% |
| Promoter change (YoY, %pts) | +0.00 | - |
Board & Governance of Indef Manufacturing Limited
As per the corporate governance filing with NSE for the quarter ended 31-MAR-2026, the board of Indef Manufacturing Limited has 6 directors - 3 independent and 1 executive. The board is chaired by Shekhar Bajaj.
| Director | Position | On board since | Listed boards |
|---|---|---|---|
| Shekhar Bajaj | Non-Executive - Non Independent Director · Chairperson | 2022-09-12 | 5 |
| Jayavanth Kallianpur Mallya | Non-Executive - Independent Director | 2024-08-12 | 3 |
| Vikram Hosangady | Non-Executive - Independent Director | 2024-08-12 | 5 |
| Girija Balakrishnan | Non-Executive - Independent Director | 2024-08-12 | 6 |
| Amit Bhalla | Executive Director | 2024-10-01 | 1 |
| Vandan Sitaram Shah | Non-Executive - Non Independent Director | 2025-05-27 | 2 |
| Committee | Members |
|---|---|
| Audit Committee | Vikram Hosangady (Chairperson), Girija Balakrishnan, Jayavanth Kallianpur Mallya, Amit Bhalla |
| Nomination and remuneration committee | Jayavanth Kallianpur Mallya (Chairperson), Girija Balakrishnan, Vikram Hosangady |
| Stakeholders Relationship Committee | Shekhar Bajaj (Chairperson), Jayavanth Kallianpur Mallya, Vandan Sitaram Shah |
| Risk Management Committee | Girija Balakrishnan (Chairperson), Vikram Hosangady, Amit Bhalla |
| Corporate Social Responsibility Committee | Shekhar Bajaj (Chairperson), Amit Bhalla, Girija Balakrishnan |
Charges & Borrowings of Indef Manufacturing Limited
| Date | Lender | Amount | Status |
|---|---|---|---|
| 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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Employee Count & EPFO Data of Indef Manufacturing Limited
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GST Compliance of Indef Manufacturing Limited
GSTIN & GST Filing Data of Indef Manufacturing Limited
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Credit Ratings, Litigation & Regulatory Alerts for Indef Manufacturing Limited
Credit Ratings, Legal Cases & Regulatory Alerts of Indef Manufacturing Limited
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MSME Payment Delays by Indef Manufacturing Limited
MSME Payment Delays by Indef Manufacturing Limited
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Subsidiaries & Group Companies of Indef Manufacturing Limited
Subsidiaries & Group Companies of Indef Manufacturing Limited
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MCA Filings & Documents of Indef Manufacturing Limited
MCA Filings & Documents of Indef Manufacturing Limited
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Recent Activity 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 ₹193.69 Cr for FY 2025 (up 0.00% YoY).
The current directors of Indef Manufacturing Limited are:
- Vandan Sitaram Shah
- Amit Bhalla
- Shekhar Bajaj
- Girija Balakrishnan
- Vikram Taranath Hosangady
- Jayavanth Kallianpur Mallya
- Bijay Kumar Agrawal
- Vineesh Vijayan Thazhumpal
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.