Company Overview
INDEF Manufacturing Limited (BSE: 544364, NSE: BAJAJINDEF) disclosed its audited annual financial statements for FY 2025-26 and notice of its 4th Annual General Meeting scheduled for August 12, 2026. The company operates as a leading manufacturer of hoists and cranes with ISO 9001:2015 certified facilities in Khalapur and Chakan, Maharashtra.
Financial Performance
Standalone Results: Revenue from operations grew 10.73% to ₹19,566.98 lakhs (FY25: ₹17,671.53 lakhs) while profit after tax declined to ₹2,605.10 lakhs (FY25: ₹3,423.92 lakhs). EPS stood at ₹8.14 compared to ₹10.70 in previous year. The board proposed a final dividend of ₹2.00 per equity share (200%) subject to shareholder approval.
Consolidated Performance: Revenue reached ₹20,769.42 lakhs with profit after tax of ₹2,362.83 lakhs and basic EPS of ₹7.38. Key balance sheet items included property, plant and equipment of ₹4,792.56 lakhs, investments of ₹20,961.90 lakhs, and trade receivables of ₹3,195.36 lakhs.
Significant Corporate Developments
The company completed its demerger from Hercules Hoists Limited (now Hercules Investment Limited) effective September 30, 2024, issuing 32 million shares to HIL shareholders in 1:1 ratio. INDEF also acquired 80% stake in Daedalus Lift & Access Equipments Private Limited on August 22, 2025, making it a subsidiary. The company maintained 100% ownership in Consolidated Swift Industries Limited throughout the year.
Governance and Management
The 4th AGM will address adoption of financial statements, dividend declaration, and several director appointments including continuation of Chairman Shekhar Bajaj beyond age 75. The board composition includes Amit Bhalla as Managing Director and Vandan Sitaram Shah as director. Key management personnel include CFO Bijay Kumar Agrawal and Company Secretary Vineesh Vijayan Thazhumpal.
Operational and Regulatory Highlights
The company faced an exceptional item of ₹61.44 lakhs due to increased gratuity and leave encashment liability resulting from implementation of new Labour Codes. INDEF maintains pan-India distribution through Authorized Business Partners and international presence in Middle East, Africa, Nepal, and Bhutan. The company reported CSR expenditure of ₹25.25 lakhs against obligation of ₹42.49 lakhs.
Capital Structure and Shareholding
The authorized share capital stands at 40,000,000 equity shares of ₹1 each, with issued, subscribed and paid-up capital of 32,000,000 shares. Promoter shareholding was 69.61% as of March 31, 2026, with major shareholders including Bajaj Holdings & Investment Ltd. (19.53%) and Jamnalal Sons Pvt. Ltd. (19.35%).
Important Dates and Compliance
The AGM will be held on August 12, 2026 via video conferencing, with book closure from August 6-12, 2026. The company maintains compliance with SEBI Listing Regulations, Companies Act 2013, and Indian Accounting Standards (Ind AS), with auditors Kanu Doshi Associates LLP providing audit services.