Indef Manufacturing posted a 10.73% rise in standalone revenue to ₹195.67 crore for FY26. The company declared a ₹2 per share final dividend and acquired an 80% stake in Daedalus Lift & Access Equipments for ₹5.08 crore, entering the Aerial Working Platform segment.
Indef Manufacturing FY26 Results: Revenue Grows 10.7%, Acquires AWP Business
Standalone revenue from operations reached ₹195.67 crore, up 10.73% year-on-year. Consolidated Profit After Tax stood at ₹23.39 crore. Reader Takeaway: Strong revenue growth and strategic acquisition in AWP segment, but commodity price risks loom. ## What just happened Indef Manufacturing Limited has reported its financial results for the fiscal year ended March 31, 2026. Standalone gross sales grew by 10.73% to ₹195.67 crore from ₹176.72 crore in the previous year. The company posted a standalone Profit After Tax (PAT) of ₹26.05 crore and a consolidated PAT of ₹23.39 crore. The Board has also announced a final dividend of ₹2 per share (200% payout). ## Why this matters The revenue growth indicates healthy demand for Indef's products. The dividend payout is a direct return to shareholders. The acquisition of an 80% stake in Daedalus Lift & Access Equipments Private Limited for ₹5.08 crore signifies a strategic diversification into the Aerial Working Platform (AWP) segment, aiming to expand the company's product portfolio and market reach. ## The backstory Indef Manufacturing has historically focused on its core product lines. This acquisition marks a significant step into a new business vertical. The company is also streamlining its governance by dissolving the Risk Management Committee, as it's no longer mandatory under SEBI regulations, with oversight shifting to the Board. ## What changes now The acquisition positions Indef Manufacturing to tap into the AWP market. The company has also appointed Ms. Pooja Bajaj and Mr. Mahendrakumar Gohel to its board, strengthening its leadership. The governance change means the Board of Directors will directly oversee risk management functions. ## Risks to watch Management has highlighted potential risks including geopolitical instability, supply chain disruptions, and fluctuations in commodity prices like steel and copper. These factors could impact project execution and profit margins. ## Peer comparison While specific AWP sector peers are not detailed in the filing, the company's entry into this segment suggests a move to compete with existing players in the aerial work platform rental and sales market. ## Context metrics (time-bound) For FY 2025-26, Indef Manufacturing reported standalone gross sales of ₹195.67 crore and standalone Profit After Tax of ₹26.05 crore. The dividend declared is ₹2 per share. The acquisition of Daedalus Lift & Access Equipments involved an investment of ₹5.08 crore for an 80% stake. ## What to track next Investors will be keen to monitor the integration of Daedalus Lift & Access Equipments into Indef's operations and its contribution to overall financial performance. Tracking commodity price trends and supply chain stability will also be crucial.
