Indo Farm Equipment Ltd
NSE: INDOFARM · Construction Vehicles · sector
₹115.83NSE close 2026-10-26
Key numbers
Market cap₹557 cr
Price₹115.83
52w high / low₹266 / ₹111
P/E22.3xSector median 26.6x
P/B1.0xSector median 4.8x
Book value₹115.8
Dividend yield–Sector median 0.39%
ROE4.6%Sector median 7.1%
ROCE7.4%Sector median 10.6%
OPM13.1%Sector median 10.0%
Debt / equity0.27xSector median 0.10x
EV/EBITDA10.6xSector median 21.7x
Interest cover3.1x
Current ratio2.93x
Sales growth 3y–Sector median +10.8%
Profit growth 3y–Sector median +3.3%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 6 companies in Construction Vehicles (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹76 cr vs borrowings ₹148 cr (FY26): borrowings are higher by ₹72 cr.
- Operating profit covered interest 3.1x in the last 12 months.
- Promoter holding rose by 1.10 percentage points in a year, to 70.63% (2026-09-30).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 23% of net profit in the last 12 months.
- No dividend in the last 2 financial years.
- Price ₹115.83 on 2026-10-26: -56.4% from the 52-week high, +4.6% 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 ₹258.54 · low ₹115.83
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 86 | 96 | 130 | 96 | 104 | 106 | 134 | 110 |
| EBITDA | 13 | 15 | 18 | 13 | 13 | 14 | 19 | 14 |
| OPM % | 15.0% | 15.4% | 14.2% | 13.7% | 12.3% | 12.8% | 13.9% | 13.1% |
| Other income | 0 | 0 | 2 | 2 | 2 | 2 | 1 | 1 |
| Net profit | 4 | 4 | 14 | 5 | 5 | 6 | 9 | 6 |
| EPS (₹) | 0.91 | 1.02 | 3.27 | 1.13 | 1.04 | 1.16 | 1.81 | 1.18 |
| Revenue YoY | +20.7% | +10.1% | +3.1% | +14.5% | ||||
| Profit YoY | +40.7% | +39.7% | -35.5% | +4.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY25 | FY26 | TTM |
|---|---|---|---|
| Revenue | 387 | 440 | 454 |
| EBITDA | 58 | 58 | 59 |
| Net profit | 24 | 25 | 25 |
| EPS (₹) | 5.70 | 5.14 | 5.19 |
| Revenue growth | +13.6% | +11.1% | |
| Profit growth | +4.8% | -5.8% | |
| Dividend / share (₹) | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +11.1% |
| Net profit | – | – | -5.8% |
| EPS | – | – | – |
| Share price | – | – (2y) | -53.8% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 531 | 556 |
| Borrowings | 172 | 148 |
| Cash & equivalents | 111 | 76 |
| Total assets | 762 | 770 |
| Fixed assets | 207 | 202 |
| Capital work in progress | 9 | 29 |
| Investments | 0 | 0 |
| Receivables | 108 | 120 |
| Inventory | 173 | 179 |
| Payables | 32 | 31 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | 58 | 30 |
| Cash from investing | -81 | 25 |
| Cash from financing | 68 | -41 |
| Capex | 27 | 30 |
| Free cash flow | 31 | 0 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | 4.4% | 4.4% |
| ROCE % | 7.1% | 7.4% |
| Debtor days | 102 | 99 |
| Inventory days | 279 | 252 |
| Payable days | 52 | 44 |
| Cash conversion cycle (days) | 329 | 307 |
| Working capital days | 279 | 242 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 70.63% |
| FIIs | 0.00% |
| DIIs | 2.37% |
| Public (non-institutions) | 27.00% |
| Quarter | Jan 2025 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 69.44% | 69.44% | 69.44% | 69.53% | 69.81% | 70.46% | 70.63% | 70.63% |
| Promoter group | % |
|---|---|
| Ranbir Singh Khadwalia | 35.02% |
| Sunita Saini | 22.16% |
| Futuristic Mining and Construction Solutions LLP | 9.10% |
| Anshul Khadwalia | 2.08% |
| Shubham Khadwalia | 1.26% |
| Kyoor Healthcare Limited | 0.76% |
| Diksha Khadwalia | 0.25% |
| Attar Singh Saini | 0.00% |
| Mani RAM | 0.00% |
| Satbir Singh Saini | 0.00% |
| Ritu Saini | 0.00% |
| Sudesh Rani | 0.00% |
| Kela Devi | 0.00% |
| Sumitra Saini | 0.00% |
| Dass Kumar | 0.00% |
| Public holders above 1% | % |
|---|---|
| Negen Undiscovered Value Fund | 1.84% |
| S P Mittal | 1.04% |
44,110 shareholders. Pledged: – of promoter shares.
Peers in Construction Vehicles
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BEML | ₹15,363 cr | 86.1x | 5.2x | 2.8% | 8.8% | 7.7% | +3.7% | 0.58% |
| ACE | ₹12,045 cr | 27.6x | 6.0x | 24.1% | 30.1% | 15.5% | +14.9% | 0.20% |
| AJAXENGG | ₹6,052 cr | 26.6x | 4.3x | 17.9% | 21.9% | 12.3% | – | – |
| TIL | ₹1,559 cr | – | 14.0x | -31.8% | 2.2% | 3.2% | +94.7% | – |
| INDOFARM | ₹557 cr | 22.3x | 1.0x | 4.6% | 7.4% | 13.1% | – | – |
| BRADYM | ₹119 cr | 24.6x | 2.2x | 9.6% | 12.3% | 7.5% | +6.6% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Cranes | ₹218 cr | 49.6% | ₹19 cr | 8.8% |
| Tractor | ₹201 cr | 45.8% | ₹17 cr | 8.4% |
| NBFC | ₹20 cr | 4.7% | ₹10 cr | 47.4% |
| Others | ₹0 cr | – | ₹0 cr | – |
Documents
- Annual report FY26
- 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 | Construction Vehicles |
| Sub-industry | Construction Vehicles |
| Symbol | INDOFARM |
| BSE code | 544328 |
| ISIN | INE622H01018 |
| Face value | ₹10.0 |
| 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.