Indef Manufacturing Limited (BAJAJINDEF) Fair Value & Analysis
Industrials · IN · Market cap ₹8.0B
Fair value as of: Aug 13, 2026
From 20 valuation models · updated 3 days ago
Fair value updated Aug 13, 2026, revised from ₹125.53 to ₹119.67 (−4.7%) since Aug 6, 2026. Share price −9.5% over the past month.
A solid business, but screening 45% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹149.58). The favourable scenario is already priced in.
- Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range (₹62.24 to ₹149.58) leaves room in how you read the outcome.
Price vs Fair Value (18 months)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
18‑month range ₹205.78 – ₹545.27 · fair‑value band ₹62.24 – ₹149.58 · the ₹217.15 price screens above the ₹119.67 fair value. Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Indef Manufacturing Limited (BAJAJINDEF) currently trades at ₹217.15, while our model-based Fair Value estimate is ₹119.67, implying the stock looks roughly 44.9% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Indef Manufacturing Limited generated revenue of ₹2.1B at a net margin of 11.4%. Revenue grew 28.4% year over year. It earns a return on equity of 9.0%. The balance sheet holds a net cash position of ₹35.7M. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹62.24 (bear case) to ₹149.58 (bull case); at ₹217.15, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 62% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at -16% fair-value upside, at -45%, BAJAJINDEF screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 20 models by family
Widest divergence: Growth Earnings (₹183.23) versus Economic Profit (₹45.69). Highest evidence: Growth DCF (72).
Notify me when BAJAJINDEF reaches fair value
Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 58 · Market factors (momentum, volatility) 16
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Indef Manufacturing Limited provides material handling solutions in India. It also manufactures, sells, distributes and markets mechanical hoists, ergonomic handling solutions, overhead crane, EOT crane, electric chain hoists and wire rope hoists, stackers, and storage and retrieval solutions.
Full company description
Indef Manufacturing Limited provides material handling solutions in India. It also manufactures, sells, distributes and markets mechanical hoists, ergonomic handling solutions, overhead crane, EOT crane, electric chain hoists and wire rope hoists, stackers, and storage and retrieval solutions. The company serves the oil and gas, engineering, auto and auto ancillary, cement, metals, and other industries. Indef Manufacturing Limited was incorporated in 2022 and is headquartered in Navi Mumbai, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2024 – FY2026 · reported fiscal years
Indef Manufacturing Limited reported revenue of ₹2.1B in FY2026 versus ₹0 in FY2024. Reported net income was ₹236M in FY2026.
BAJAJINDEF screens 45% overvalued. Compare with Caterpillar Inc →
Peer Group
Farm & Heavy Construction Machinery · 148 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Farm & Heavy Construction Machinery median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Farm & Heavy Construction Machinery stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Caterpillar Inc CAT | $855.60 | $307.83 | -64% |
| Deere & Company DE | $619.77 | $182.29 | -71% |
| AB Volvo (publ), VOLVA | kr 344.00 | kr 288.08 | -16% |
| PACCAR Inc PCAR | $131.06 | $94.80 | -28% |
| Epiroc AB EPIA | kr 254.50 | kr 144.14 | -43% |
| Sany Heavy Industry Co 600031 | ¥18.91 | ¥20.84 | +10% |
| XCMG Construction Machinery Co 000425 | ¥8.25 | ¥11.79 | +43% |
| Sinotruk (Hong Kong) Limited 3808 | HK$41.42 | HK$53.57 | +29% |
| Yutong Bus Co 600066 | ¥28.69 | ¥42.00 | +46% |
| Ashok Leyland Limited ASHOKLEY | ₹176.70 | ₹118.01 | -33% |
Compare Indef Manufacturing Limited with another stock
Price, fair value, quality and upside side by side.
Explore undervalued stocks
More undervalued Industrials stocks →
Frequently asked questions
Is Indef Manufacturing Limited (BAJAJINDEF) overvalued or undervalued?
What is the fair value of BAJAJINDEF?
What is the quality score of BAJAJINDEF?
What is the revenue of Indef Manufacturing Limited (BAJAJINDEF)?
What is the net profit margin of BAJAJINDEF?
Does Indef Manufacturing Limited pay a dividend?
How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
Track Indef Manufacturing Limited and try Pro for 14 days
One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.
Zero risk: nothing is ever charged. After 14 days you decide whether to stay.