Indef Manufacturing Limited has announced its financial results for the second quarter of fiscal year 2025-26, revealing a mixed performance with revenue growth accompanied by a decline in profitability.

Revenue Growth

The company reported a consolidated revenue of ₹493.10 crore for Q2 FY2025-26, marking an increase from ₹427.73 crore in the same quarter of the previous year. This represents a year-over-year growth of approximately 15.3% in top-line performance.

Profit Decline

Despite the revenue growth, Indef Manufacturing experienced a decrease in net profit. The company's consolidated net profit for Q2 stood at ₹63.00 crore, down from ₹113.00 crore in the corresponding quarter of the previous year, indicating a significant decline of about 44.2%.

Financial Performance Overview

Here's a breakdown of the key financial metrics for Q2 FY2025-26:

Segment Performance

Indef Manufacturing operates in a single primary segment of Material Handling Equipment, as disclosed in their financial results.

Balance Sheet Highlights

As of September 30, 2025, the company reported:

• Total assets of ₹3,125.96 crore
• Total equity of ₹2,570.97 crore

The company has not provided specific management commentary on the factors contributing to the revenue growth or the reasons behind the profit decline in the given information. Additionally, no forward-looking statements or guidance for future quarters were included in the available information.

Indef Manufacturing has successfully completed the acquisition of an 80% stake in Daedalus Lift & Access Equipments Private Limited for Rs 5.08 crore, as announced in a regulatory filing. This strategic move positions Daedalus as a subsidiary of Indef Manufacturing, marking a significant expansion in the material handling and access equipment segment.

Acquisition Details

The acquisition involved the purchase of 1,600,229 equity shares at Rs 31.73 each, totaling Rs 5.08 crore. As part of the agreement, Rs 30 lakh has been set aside as retention money for one year to cover potential claims or liabilities.

About Daedalus Lift & Access Equipments

Daedalus, established on April 21, 2017, specializes in Mobile Elevating Work Platforms (MEWP) and Material Handling equipment. The company has shown remarkable growth in recent years:

Despite the impressive revenue growth, Daedalus reported a loss after tax of Rs 1.90 crore in FY 2024-25.

Strategic Implications

This acquisition aligns with Indef Manufacturing's strategy to strengthen its presence in the material handling and access equipment segment. The company expects this move to complement and enhance its product portfolio while expanding its market reach.

Transaction Structure

• Indef Manufacturing acquired 80% of Daedalus' equity shares
• Total consideration: Rs 5.08 crore
• Price per share: Rs 31.73
• Retention amount: Rs 30 lakh (to be released after one year)

Regulatory Compliance

The acquisition has been completed in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Indef Manufacturing has confirmed that this transaction does not fall under related party transactions, and neither the promoter nor the promoter group has any interest in Daedalus.

As Indef Manufacturing integrates Daedalus into its operations, the market will be watching closely to see how this strategic acquisition impacts the company's performance in the competitive material handling and access equipment sector.