NSE: INDOFARM · BSE: 544328 · ISIN INE622H01018
Indo Farm Equipment Limited stock analysis
Indo Farm Equipment Limited ranks #3777 in the TickerSutra evidence-ranked universe with a score of 38/100 and 89% data confidence. The latest captured fundamentals show ROCE of 7.4%, quarterly sales growth of 14.5% and quarterly profit growth of 4.2%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.27×
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- CFO/EBITDA is below 0.6×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹320cr | ₹54cr | ₹14cr | 17.0% |
| 2023 | ₹356cr | ₹59cr | ₹15cr | 17.0% |
| 2024 | ₹360cr | ₹62cr | ₹15cr | 17.0% |
| 2025 | ₹368cr | ₹58cr | ₹24cr | 16.0% |
| 2026 | ₹440cr | ₹58cr | ₹25cr | 13.0% |
| TTM | ₹454cr | ₹59cr | ₹25cr | 13.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Indo Farm Equipment Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineShareholders meetingNSE · 25 Sept 2026Indo Farm Equipment Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 23, 2026. Further, the company has informed the Exchange regarding voting results.
RoutineIndo Farm Equipment Ltd - 544328 - Shareholder Meeting / Postal Ballot-Scrutinizer''s ReportBSE · 25 Sept 2026Submission of Consolidated Scrutinizer''s Report under regulation 44(3) of the SEBI (LODR) 2015, of the 26th Annual General meeting ("AGM") of the Company held on 23rd September 2026.
RoutineShareholders meetingNSE · 23 Sept 2026Indo Farm Equipment Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 23, 2026
RoutineIndo Farm Equipment Ltd - 544328 - Shareholder Meeting / Postal Ballot-Outcome of AGMBSE · 23 Sept 2026Proceedings of the 26th Annual General Meeting of the company held on Wednesday, September 23, 2026.
MANAGEMENT COMMENTARY
Signals from filed documents
The existing crane plant will not give much addition, whereas the tractor plant will give 30% to 35%-plus growth, which is what we are expecting, assessing the current market situation. Yogesh Patil: Basically, in tractors we make more than 50% in-house, so there will be big operating leverage in tractors if utilization crosses 60–70%, and profitability should improve, right? Ranbir Singh Khadwalia: Even with lower n
Manas: Okay, so 30% utilization of the new capacity? Ranbir Singh Khadwalia: The new capacity is 3,600 cranes, yes. Moderator (Finportal): Thank you, sir.
• Orders for the major machinery have been placed and almost all the machines are ready. • Commercial production is expected to start within this financial year itself, and we are expecting that it can begin by the end of November. Ranbir Singh Khadwalia: On the tower crane: • We have already acquired the technology, as explained in the last call and have now successfully developed and tested our first tower crane pr
But it is not impossible, and the way we have started growing at 35 –40% quarter on quarter is a good sign. We have broken those barriers, because we are offering a better product at competitive pricing, and now the big bottleneck of retail financing is also being supported by us. But it will not change immediately; we cannot suddenly start making 12,000 tractors and be able to sell them, because the channel has to b
Manas: Sir, just one last question. Can you give the EBITDA margin guidance for FY27? For last year I think it was around 14.6%, so what would it look like for FY27?
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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