Indef Manufacturing Ltd
NSE: BAJAJINDEF · Industrial Products · sector
₹176.98NSE close 2026-10-26
Key numbers
Market cap₹566 cr
Price₹176.98
52w high / low₹421 / ₹177
P/E24.1xSector median 24.2x
P/B2.1xSector median 2.8x
Book value₹84.3
Dividend yield1.13%Sector median 0.50%
ROE8.9%Sector median 11.5%
ROCE8.6%Sector median 13.4%
OPM8.9%Sector median 10.3%
Debt / equity0.00xSector median 0.17x
EV/EBITDA31.2xSector median 16.7x
Interest cover61.6x
Current ratio1.34x
Sales growth 3y–Sector median +10.2%
Profit growth 3y–Sector median +12.8%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 152 companies in Industrial Products (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹6 cr vs borrowings ₹0 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 61.6x in the last 12 months.
- Other income was 50% of net profit in the last 12 months.
- Dividend paid in 1 of the last 2 financial years.
- Price ₹176.98 on 2026-10-26: -58.0% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹528.95 · low ₹176.98
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | 45 | 53 | 40 | 49 | 51 | 68 | 34 |
| EBITDA | 7 | 11 | 4 | 6 | 4 | 9 | -1 |
| OPM % | 16.7% | 20.2% | 9.4% | 12.7% | 7.3% | 13.1% | -2.8% |
| Other income | 3 | 4 | 5 | 3 | 5 | -4 | 9 |
| Net profit | 7 | 10 | 6 | 6 | 5 | 7 | 5 |
| EPS (₹) | 2.19 | 3.17 | 1.77 | 1.96 | 1.53 | 2.13 | 1.72 |
| Revenue YoY | +13.2% | +28.4% | -13.2% | ||||
| Profit YoY | -31.3% | -33.9% | -3.0% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY25 | FY26 | TTM |
|---|---|---|---|
| Revenue | 179 | 208 | 202 |
| EBITDA | 31 | 23 | 18 |
| Net profit | 34 | 23 | 23 |
| EPS (₹) | 10.68 | 7.38 | 7.34 |
| Revenue growth | +16.3% | – | |
| Profit growth | -31.5% | – | |
| Dividend / share (₹) | – | 2.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | – |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | – (2y) | -53.6% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 253 | 270 |
| Borrowings | 0 | 0 |
| Cash & equivalents | 6 | 6 |
| Total assets | 301 | 332 |
| Fixed assets | 27 | 31 |
| Capital work in progress | 2 | 0 |
| Investments | 199 | 210 |
| Receivables | 32 | 32 |
| Inventory | 22 | 32 |
| Payables | 23 | 33 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | 5 | 23 |
| Cash from investing | -10 | -14 |
| Cash from financing | -1 | -9 |
| Capex | 9 | 5 |
| Free cash flow | -4 | 18 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | 13.5% | 8.7% |
| ROCE % | 16.8% | 9.0% |
| Debtor days | 65 | 56 |
| Inventory days | 85 | 102 |
| Payable days | 89 | 107 |
| Cash conversion cycle (days) | 61 | 51 |
| Working capital days | 62 | 34 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 69.61% |
| FIIs | 0.64% |
| Public (non-institutions) | 29.75% |
| Quarter | Feb 2025 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 69.61% | 69.61% | 69.61% | 69.61% | 69.61% | 69.61% | 69.61% | 69.61% |
| Promoter group | % |
|---|---|
| Bajaj Holdings and Investment Ltd | 19.53% |
| Jamnalal Sons Private Limited | 19.35% |
| Bajaj Sevashram Private Limited | 5.84% |
| Bachhraj Factories Private Limited | 3.86% |
| Kiran Bajaj | 3.55% |
| Niraj Bajaj | 3.42% |
| Shekhar Bajaj | 2.83% |
| Vanraj Anant Bajaj | 1.73% |
| Niraj Bajaj Trust | 1.73% |
| Pooja Bajaj | 1.73% |
| KUMUD BAJAJ A/c NEELIMA BAJAJ FAMILY TRUST | 1.58% |
| KUMUD BAJAJ A/c NIMISHA BAJAJ FAMILY TRUST | 1.58% |
| Shekhar Holdings PVT. Ltd. | 1.25% |
| Kumud Bajaj Trust | 0.40% |
| Kumud Bajaj Trust | 0.40% |
| Public holders above 1% | % |
|---|---|
| Heinrich DE Fries GMBH | 5.00% |
| Devaj Ravi Jhunjhunwala | 3.26% |
19,352 shareholders. Pledged: – of promoter shares.
Peers in Industrial Products
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| INDOMIM | ₹52,085 cr | – | – | – | – | – | – | – |
| CPPLUS | ₹45,577 cr | 94.7x | 24.3x | 25.5% | 33.3% | 14.5% | – | 0.04% |
| SYRMA | ₹28,803 cr | 77.7x | 10.1x | 17.4% | 17.6% | 11.1% | +33.0% | 0.10% |
| HONAUT | ₹27,500 cr | 50.1x | 6.2x | 13.0% | 16.9% | 13.3% | +10.7% | 0.34% |
| KAYNES | ₹22,167 cr | 64.0x | 4.7x | 9.1% | 11.1% | 15.5% | +47.7% | – |
| JYOTICNC | ₹20,523 cr | 63.8x | 10.3x | 17.4% | 18.5% | 24.4% | – | – |
| LMW | ₹17,267 cr | 84.2x | 5.7x | 7.0% | 9.3% | 7.1% | -12.1% | 0.19% |
| TEGA | ₹12,752 cr | 447.9x | 3.7x | 0.9% | 4.5% | 7.5% | +11.7% | 0.11% |
| LLOYDSENGG | ₹12,248 cr | 48.1x | 7.3x | 14.1% | 15.1% | 14.2% | +60.9% | 0.27% |
| BAJAJINDEF | ₹566 cr | 24.1x | 2.1x | 8.9% | 8.6% | 8.9% | – | 1.13% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-05 | Dividend | Dividend - Rs 2 Per Share |
| 2025-08-05 | Dividend | Dividend - Rs 2 Per Share |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Announcements NSE filings
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
| Sector | Industrials |
| Industry | Industrial Products |
| Sub-industry | Industrial Products |
| Symbol | BAJAJINDEF |
| BSE code | 544364 |
| ISIN | INE0O9T01021 |
| Face value | ₹1.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.