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Indef Manufacturing Limited
(BAJAJINDEF)
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Rating:61Neutral
Price Target:
₹210.00
▼(-48.83% Downside)
Action:Reiterated
Date:08/28/26
The score is primarily supported by very strong balance sheet strength and improved FY2026 cash generation. Offsetting this, profitability deteriorated despite the surge in revenue, and technical signals are weak (below key moving averages with negative MACD). Valuation is not especially compelling given the ~31x P/E and low dividend yield.
Positive Factors
Very Low Leverage
Extremely low leverage gives Indef a substantial financial cushion and reduces pressure from interest costs or refinancing needs. The conservative capital structure should preserve flexibility to fund operations, withstand weaker trading conditions, and pursue growth without relying heavily on additional borrowing.
Negative Factors
Sharp Margin Compression
The substantial gross-margin decline indicates that the latest revenue expansion is converting less efficiently into gross profit. Persistently lower margins could reduce operating leverage, limit reinvestment capacity, and make future earnings more sensitive to costs, pricing pressure, or changes in the business mix.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Extremely low leverage gives Indef a substantial financial cushion and reduces pressure from interest costs or refinancing needs. The conservative capital structure should preserve flexibility to fund operations, withstand weaker trading conditions, and pursue growth without relying heavily on additional borrowing.
Read all positive factors
Indef Manufacturing Limited (BAJAJINDEF) vs. iShares MSCI India ETF (INDA)
Market Cap
₹6.55B
Dividend Yield1%
Average Volume (3M)1.34K
Price to Earnings (P/E)27.1
Beta (1Y)1.61
Revenue GrowthN/A
EPS GrowthN/A
CountryIN
Employees188
SectorGeneral
Sector StrengthN/A
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)7.34
Shares Outstanding32,000,000
10 Day Avg. Volume1,364
30 Day Avg. Volume1,340
Financial Highlights & Ratios
PEG Ratio-0.92
Price to Book (P/B)2.50
Price to Sales (P/S)3.24
P/FCF Ratio36.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Indef Manufacturing Limited Business Overview & Revenue Model
Company Description
Established in 2022 and headquartered in Navi Mumbai, India, Indef Manufacturing Ltd. specializes in providing comprehensive material handling solutions throughout India. The company is actively involved in the fabrication, sale, distribution, and...
How the Company Makes Money
Detailed, reliable public information describing Indef Manufacturing Limited’s revenue model (e.g., specific product lines, services, customer industries, contract structure, or major partnerships) is null. As a result, its key revenue streams and...
Indef Manufacturing Limited Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
86
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2025 | Mar 2025 | Mar 2024 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 2.02B | 2.08B | 1.77B | 0.00 |
| Gross Profit | 708.17M | 580.58M | 725.50M | 0.00 |
| EBITDA | 209.68M | 310.71M | 475.46M | -598.00K |
| Net Income | 234.78M | 236.28M | 341.60M | -437.00K |
Balance Sheet | ||||
| Total Assets | 0.00 | 3.32B | 3.01B | 328.00K |
| Cash, Cash Equivalents and Short-Term Investments | 55.55M | 64.99M | 61.74M | 149.00K |
| Total Debt | 0.00 | 29.32M | 59.47M | 706.00K |
| Total Liabilities | -2.69B | 633.20M | 484.99M | 760.00K |
| Stockholders Equity | 2.69B | 2.70B | 2.53B | -432.00K |
Cash Flow | ||||
| Free Cash Flow | 115.24M | 182.61M | -39.71M | 0.00 |
| Operating Cash Flow | 121.32M | 237.15M | 48.28M | -589.00K |
| Investing Cash Flow | -74.16M | -147.41M | -97.00M | 0.00 |
| Financing Cash Flow | -77.07M | -89.38M | -19.75M | 706.00K |
Indef Manufacturing Limited Technical Analysis
Negative
410.40
Price Trends
220.76
Negative
233.68
Negative
259.19
Negative
Market Momentum
-5.12
Positive
35.67
Neutral
16.93
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BAJAJINDEF, the sentiment is Negative. The current price of 410.4 is above the 20-day moving average (MA) of 215.19, above the 50-day MA of 220.76, and above the 200-day MA of 259.19, indicating a bearish trend. The MACD of -5.12 indicates Positive momentum. The RSI at 35.67 is Neutral, neither overbought nor oversold. The STOCH value of 16.93 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:BAJAJINDEF.
Indef Manufacturing Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹306.69B | 22.07 | ― | 1.84% | 17.98% | -41.45% | |
65 Neutral | ₹9.71B | 17.58 | ― | 0.14% | ― | ― | |
65 Neutral | ₹37.86B | 33.43 | ― | 0.59% | 17.02% | -5.12% | |
61 Neutral | ₹6.55B | 27.14 | ― | 1.00% | ― | ― | |
57 Neutral | ₹6.73B | 25.95 | ― | ― | 11.14% | -8.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
44 Neutral | ₹20.25B | -25.99 | ― | 6.23% | 8.81% | -248.88% |
* General Sector Average
IN:BAJAJINDEF
Indef Manufacturing Limited
199.40
-208.60
-51.13%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.