Indef Manufacturing Limited has announced a key leadership change with the resignation of its Operations Head from senior management. The company submitted the formal intimation to stock exchanges on March 06, 2026, in compliance with regulatory requirements.

Leadership Transition Details

Shri Kiran Prabhakar Matkar, who served as Operations Head and qualified as Senior Management Personnel under Regulation 16(1)(d) of the Listing Regulations, has tendered his resignation from the company. The resignation was submitted citing personal and unavoidable circumstances as the primary reason for his departure.

Regulatory Compliance

The company has fulfilled all disclosure requirements under Regulation 30 and Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The formal communication was addressed to both BSE Limited and National Stock Exchange of India Limited, ensuring complete transparency in the leadership transition process.

Indef Manufacturing Limited confirmed that Matkar will be relieved from his duties with effect from the close of business hours on March 12, 2026. The company has provided comprehensive documentation including the resignation letter and required annexures as per SEBI guidelines.

Corporate Communication

The official intimation was signed by Vineesh Vijayan Thazhumpal, Company Secretary, and digitally authenticated on March 06, 2026. In his resignation letter, Matkar expressed gratitude to the management for the opportunity and support extended during his tenure with the company.

The departing Operations Head confirmed in his formal resignation that there were no other material reasons for his resignation beyond the personal circumstances stated. This leadership change represents a significant transition in the company's senior management structure as it continues its operational activities across multiple locations including works at Khalapur and Chakan.

Indef Manufacturing Limited has announced its unaudited financial results for the third quarter ended December 31, 2025, following the board meeting held on February 10, 2026. The company reported strong performance across both standalone and consolidated operations, demonstrating continued growth momentum in the material handling equipment sector.

Financial Performance Overview

The company's standalone operations showed robust performance with revenue from operations reaching ₹4,862.98 lakhs for Q3FY26, representing growth from ₹4,421.67 lakhs in the corresponding quarter of the previous year. Total income including other income stood at ₹5,338.29 lakhs compared to ₹4,752.27 lakhs in Q3FY25.

Consolidated Results and Subsidiary Integration

On a consolidated basis, the company reported revenue from operations of ₹5,063.79 lakhs for Q3FY26, up from ₹4,473.96 lakhs in the same quarter last year. The consolidated results include the financial performance of subsidiary companies, including Daedalus Lift & Access Equipments Private Limited, which became a subsidiary with effect from August 22, 2025.

Nine-Month Performance

For the nine months ended December 31, 2025, standalone revenue from operations reached ₹13,460.59 lakhs compared to ₹12,512.82 lakhs in the corresponding period last year. Net profit for the nine-month period stood at ₹1,876.17 lakhs versus ₹2,410.36 lakhs in the previous year.

Exceptional Items and Regulatory Impact

The company recorded exceptional items of ₹38.68 lakhs in standalone results and ₹38.89 lakhs in consolidated results for the quarter. This relates to the impact of new Labour Codes notified by the Government of India on November 21, 2025, which resulted in increased gratuity and leave encashment liability.

Earnings Per Share and Board Meeting Details

The company reported basic and diluted earnings per share of ₹1.94 for Q3FY26 on a standalone basis and ₹1.53 on a consolidated basis. The board meeting commenced at 11:50 AM IST and concluded at 1:45 PM IST on February 10, 2026, with unanimous approval of the financial results by the Board of Directors based on the Audit Committee's recommendation.