Integrated Filing — IndAS



General information about company

Scrip Code 544364
NSE Symbol BAJAJINDEF
MSEI Symbol NOTLISTED
ISIN INE0O9T01021
Name of company INDEF MANUFACTURING LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-04-2025
Date of end of financial year 31-03-2026
Date of board meeting when results were approved 12-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 05-11-2025
Description of presentation currency INR
Level of rounding used in financial results Lakhs
Reporting Type Quarterly
Reporting Quarter Second quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Unaudited
Segment Reporting Single segment
Description of single segment Material Handeling Equipment
Start date and time of board meeting 12-11-2025   14:45:00
End date and time of board meeting 12-11-2025   16:10:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Not applicable



Financial Results Ind-AS

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
1 Income
Revenue from operations 4,930.95 8,901.46
Other income 269.73 799.34
Total income 5,200.68 9,700.80
2 Expenses
(a) Cost of materials consumed 2,733.13 5,004.43
(b) Purchases of stock-in-trade (87.53) (229.61)
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0.00 0.00
(d) Employee benefit expense 718.13 1,379.80
(e) Finance costs 11.20 21.30
(f) Depreciation, depletion and amortisation expense 144.63 279.04
(f) Other Expenses
1 Other Expenses 938.89 1,746.66
Total other expenses 938.89 1,746.66
Total expenses 4,458.45 8,201.62
3 Total profit before exceptional items and tax 742.23 1,499.18
4 Exceptional items 0.00 0.00
5 Total profit before tax 742.23 1,499.18
6 Tax expense
7 Current tax 273.99 352.36
8 Deferred tax (154.21) (40.84)
9 Total tax expenses 119.78 311.52
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0.00 0.00
11 Net Profit Loss for the period from continuing operations 622.45 1,187.66
12 Profit (loss) from discontinued operations before tax 0.00 0.00
13 Tax expense of discontinued operations 0.00 0.00
14 Net profit (loss) from discontinued operation after tax 0.00 0.00
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0.00 0.00
16 Total profit (loss) for period 622.45 1,187.66
17 Other comprehensive income net of taxes (1.87) (3.74)
18 Total Comprehensive Income for the period 620.58 1,183.92
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent 0.00 0.00
Total profit or loss, attributable to non-controlling interests 3.50 3.50
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 320.00 320.00
Face value of equity share capital 1 1
27 Details of debt securities
22 Reserves excluding revaluation reserve
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 1.96 3.72
Diluted earnings (loss) per share from continuing operations 1.96 3.72
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.96 3.72
Diluted earnings (loss) per share from continuing and discontinued operations 1.96 3.72
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results Textual Information(1)



Disclosure of notes on financial results

Textual Information(1) NOTES TO UNAUDITED STANDALONE AND CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED SEPTEMBER 30 2025 1 The above Standalone and Consolidated results prepared in accordance with Indian Accounting Standards Ind AS the provisions of the Companies Act 2013 the Act as applicable and guidelines issued by the Securities and Exchange Board of India SEBI which have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meetings held on November 12 2025 as per Regulation 33 of SEBI Listing Obligations and Disclosure Requirements Regulations 2015 2 The Company operates in single primary segment only ie Material Handling Equipments and therefore disclosure requirement of Indian Accounting Standard IND AS 108 Segment Reporting is not applicable 3 Pursuant to Ind AS 103 Business Combinations, the Company is permitted a measurement period of one year from the effective date of the demerger ie September 30 2024 to adjust provisional accounting entries based on new information obtained about facts and circumstances that existed as of that date Accordingly based on new information received during the measurement period relating to inter company balances and related tax matters between Hercules Investments Limited formerly Hercules Hoists Limited and Indef Manufacturing Limited certain accounting adjustments amounting to Rs 72 lakhs have been made Out of these adjustments an amount of Rs 63 lakhs 05 thousand has been recorded through Reserves and Surplus and Rs 8 lakhs 95 thousand has been recorded through TDS Credit Receivable in accordance with the requirements of paragraphs 45 to 49 of Ind AS 103 4 Pursuant to the approved of Scheme of Arrangement for the demerger between Hercules Investments Limited formerly Hercules Hoists Limited HIL or Demerged Company and Indef Manufacturing Limited IML or Resulting Entity the figures pertaining to quarter ended Sept 2024 have been restated 5 On August 01 2025 entered into a Share Purchase Agreement SPA with the shareholders of Daedalus Lift and Access Equipments Private Limited Subsequently the Company completed the acquisition of 1600229 Equity Shares representing 80 percent Eighty Percent of the paid up share capital of the Daedalus Lift and Access Equipments Private Limited The Company acquired control over the subsidiary with effect from August 22 2025 Consequently Daedalus Lift and Access Equipments Private Limited has become a subsidiary company of Indef Manufacturing Limited Accordingly the financial figures of the subsidiary company have been included in the Consolidated Financial Results for the quarter and half year ended 6 Previous quarter and year figures have been appropriately regrouped recasted and reclassified wherever necessary to conform to the current year presentations 7 Statements of cash flow is enclosed in Annexure 1 8 These standalone and consolidated financial results are available on the Company's website viz www indef com and on the websites of BSE www bseindia com and NSE www nseindia com



Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-04-2025
Date of end of reporting period 30-09-2025
Whether results are audited or unaudited Unaudited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 2,593.64
Capital work-in-progress 259.89
Investment property
Goodwill 753.86
Other intangible assets 449.42
Intangible assets under development 3.06
Biological assets other than bearer plants
Investments accounted for using equity method
Non-current financial assets
Non-current investments 20,799.98
Trade receivables, non-current
Loans, non-current 0.00
Other non-current financial assets 92.63
Total non-current financial assets 20,892.61
Deferred tax assets (net) 128.91
Other non-current assets 585.47
Total non-current assets 25,666.86
2 Current assets
Inventories 3,016.46
Current financial asset
Current investments 0.00
Trade receivables, current 1,585.85
Cash and cash equivalents 252.85
Bank balance other than cash and cash equivalents 92.39
Loans, current 0.00
Other current financial assets 58.68
Total current financial assets 1,989.77
Current tax assets (net) 34.02
Other current assets 519.38
Total current assets 5,559.63
3 Non-current assets classified as held for sale 0.00
4 Regulatory deferral account debit balances and related deferred tax Assets 0.00
Total assets 31,226.49
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 320.00
Other equity 25,454.73
Total equity attributable to owners of parent 25,774.73
Non controlling interest (65.02)
Total equity 25,709.71
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 0.00
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
Total Trade payable
Other non-current financial liabilities 253.75
Total non-current financial liabilities 253.75
Provisions, non-current 0.00
Deferred tax liabilities (net) 1,243.63
Deferred government grants, Non-current 0.00
Other non-current liabilities 0.00
Total non-current liabilities 1,497.38
Current liabilities
Current financial liabilities
Borrowings, current 0.50
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 731.61
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 2,008.77
Total Trade payable 2,740.38
Other current financial liabilities 348.18
Total current financial liabilities 3,089.06
Other current liabilities 591.30
Provisions, current 338.74
Current tax liabilities (Net) 0.30
Deferred government grants, Current 0.00
Total current liabilities 4,019.40
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 5,516.78
Total equity and liabilites 31,226.49
Disclosure of notes on assets and liabilities



Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-07-2025 01-04-2025
Date of end of reporting period 30-09-2025 30-09-2025
Whether results are audited or unaudited Unaudited Unaudited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income

Amount in (Lakhs)

Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-07-2025 01-04-2025
B Date of end of reporting period 30-09-2025 30-09-2025
C Whether results are audited or unaudited Unaudited Unaudited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 2.50 5.00
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss (0.63) (1.26)
5 Total Other comprehensive income (1.87) (3.74)



Cash flow statement, indirect

Amount in (Lakhs)

Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-04-2025
B Date of end of reporting period 30-09-2025
C Whether results are audited or unaudited Unaudited
D Nature of report standalone or consolidated Consolidated
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 1,499.18
Adjustments for reconcile profit (loss)
Adjustments for finance costs 29.46
Adjustments for decrease (increase) in inventories (795.71)
Adjustments for decrease (increase) in trade receivables, current 1,650.60
Adjustments for decrease (increase) in trade receivables, non-current 0.00
Adjustments for decrease (increase) in other current assets (323.79)
Adjustments for decrease (increase) in other non-current assets (233.17)
Adjustments for other financial assets, non-current (16.78)
Adjustments for other financial assets, current (26.98)
Adjustments for other bank balances (0.25)
Adjustments for increase (decrease) in trade payables, current 236.83
Adjustments for increase (decrease) in trade payables, non-current 0.00
Adjustments for increase (decrease) in other current liabilities 74.54
Adjustments for increase (decrease) in other non-current liabilities 0.00
Adjustments for depreciation and amortisation expense 279.04
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0.00
Adjustments for provisions, current 8.98
Adjustments for provisions, non-current 0.00
Adjustments for other financial liabilities, current (0.48)
Adjustments for other financial liabilities, non-current 4.50
Adjustments for unrealised foreign exchange losses gains 0.00
Adjustments for dividend income 0.00
Adjustments for interest income 22.18
Adjustments for share-based payments 0.00
Adjustments for fair value losses (gains) (769.62)
Adjustments for undistributed profits of associates 0.00
Other adjustments for which cash effects are investing or financing cash flow 0.00
Other adjustments to reconcile profit (loss) 0.00
Other adjustments for non-cash items 14.31
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0.00
Total adjustments for reconcile profit (loss) 109.30
Net cash flows from (used in) operations 1,608.48
Dividends received 0.00
Interest paid 0.00
Interest received 0.00
Income taxes paid (refund) 395.32
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) operating activities 1,213.16
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0.00
Cash flows used in obtaining control of subsidiaries or other businesses 507.80
Other cash receipts from sales of equity or debt instruments of other entities 0.00
Other cash payments to acquire equity or debt instruments of other entities 0.00
Other cash receipts from sales of interests in joint ventures 0.00
Other cash payments to acquire interests in joint ventures 0.00
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0.00
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0.00
Proceeds from sales of property, plant and equipment 0.00
Purchase of property, plant and equipment 60.80
Proceeds from sales of investment property 0.00
Purchase of investment property 0.00
Proceeds from sales of intangible assets 0.00
Purchase of intangible assets 0.00
Proceeds from sales of intangible assets under development 0.00
Purchase of intangible assets under development 0.00
Proceeds from sales of goodwill 0.00
Purchase of goodwill 0.00
Proceeds from biological assets other than bearer plants 0.00
Purchase of biological assets other than bearer plants 0.00
Proceeds from government grants 0.00
Proceeds from sales of other long-term assets 4,579.59
Purchase of other long-term assets 4,750.24
Cash advances and loans made to other parties 24.46
Cash receipts from repayment of advances and loans made to other parties 0.00
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0.00
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0.00
Dividends received 0.00
Interest received 22.15
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash 0.00
Net cash flows from (used in) investing activities (741.56)
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0.00
Payments from changes in ownership interests in subsidiaries 0.00
Proceeds from issuing shares 0.00
Proceeds from issuing other equity instruments 0.00
Payments to acquire or redeem entity's shares 0.00
Payments of other equity instruments 0.00
Proceeds from exercise of stock options 0.00
Proceeds from issuing debentures notes bonds etc 0.00
Proceeds from borrowings 0.00
Repayments of borrowings 0.00
Payments of lease liabilities 0.00
Dividends paid 640.00
Interest paid 0.00
Income taxes paid (refund) 0.00
Other inflows (outflows) of cash (130.70)
Net cash flows from (used in) financing activities (770.70)
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes (299.10)
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0.00
Net increase (decrease) in cash and cash equivalents (299.10)
Cash and cash equivalents cash flow statement at beginning of period 551.95
Cash and cash equivalents cash flow statement at end of period 252.85