About Indef Manufacturing Limited

Indef Manufacturing Limited was formed after the demerger of the manufacturing business of Hercules Hoists Limited in 2024. The company is engaged in the design, manufacturing, and supply of hoists, cranes, and storage solutions under the brands Bajaj Indef, iCrane, and iStacker. Its product portfolio includes mechanical and electric hoists, EOT cranes, jib cranes, gantry cranes, and automated storage and retrieval systems.

The company caters to industries such as automotive, engineering, infrastructure, energy, metals, chemicals, logistics, textiles, and food processing. Indef operates two manufacturing facilities located at Khalapur and Chakan in Maharashtra, supported by regional offices in Pune, Delhi, Chennai, and Kolkata. The equity shares of the company were listed on BSE and NSE on February 21, 2025.

Indef Manufacturing Limited’s Business Segments

The company operates under a single business segment:

• Material Handling Solutions: Manufacturing and trading of hoists, cranes, and storage systems for diverse industries.

Indef Manufacturing Limited’s Key Management

• Mr. Shekhar Bajaj – Chairman

• Mr. Amit Bhalla – Managing Director

• Mr. Vandan Sitaram Shah – Director (appointed May 27, 2025)

• Mr. Jayavanth Kallianpur Mallya – Director

• Mr. Vikram Taranath Hosangady – Director

• Ms. Girija Balakrishnan – Director

• Mr. Nirav Nayan Bajaj – Director (up to May 27, 2025)

• Mr. Bijay Kumar Agrawal – Chief Financial Officer

• Mr. Debi Prasad Padhy – VP – Sales Direct & Export

• Mr. Kiran Matkar – Senior General Manager – Operations

• Mr. Vineesh Vijayan Thazhumpal – Company Secretary

Latest Updates on Indef Manufacturing Limited

• Demerger and Listing: Manufacturing business was demerged from Hercules Hoists Limited; shares listed on NSE and BSE on February 21, 2025.

• Financial Performance: Reported standalone revenue of Rs 17,671.53 lakh in FY 2024–25, down 1.57% year-on-year. Profit after tax rose 26.13% to Rs 3,423.92 lakh.

• Dividend: Board recommended a final dividend of Rs 2 per equity share for FY 2024–25.

• Leadership Changes: Appointment of Mr. Amit Bhalla as Managing Director in September 2024; Mr. Vandan Sitaram Shah joined the Board in May 2025. Mr. Bijay Kumar Agrawal took over as CFO in March 2025.

• Risk Management: Formed a Risk Management Committee in September 2024 under SEBI (LODR) guidelines.

Operational Excellence: Continued focus on advanced machinery and quality systems with ISO 9001:2015, ISI, and CE certifications.