Indef Manufacturing to Acquire 80% Stake in Daedalus Lift & Access Equipments for Rs. 5.07 Crores
Indef Manufacturing Limited has approved the acquisition of an 80% stake in Daedalus Lift & Access Equipments Private Limited for Rs. 5.07 crores. The acquisition, set to complete by October 30, 2025, will expand Indef's product portfolio in the material handling equipment sector. Daedalus, a Pune-based company specializing in Mobile Elevating Work Platforms, has shown significant revenue growth but reported a loss in FY 2024-25. The strategic move aims to strengthen Indef's market position and offer a more comprehensive suite of solutions to customers.
27Jul 25
Indef Manufacturing Limited Issues Corrigendum for FY 2024-25 Annual Report and AGM Notice
Indef Manufacturing Limited (IML) has released a corrigendum to address omissions in its 3rd AGM notice and Annual Report for FY 2024-25. Key updates include disclosure of a new wholly-owned subsidiary, Consolidated Swift Industries Limited, incorporated on September 6, 2024. The subsidiary's financial performance details were added. IML reclassified the appointment of secretarial auditors as special business in the AGM agenda. The company appointed M/s. S N Ananthasubramanian & Co. as Secretarial Auditors for five years, subject to shareholder approval. For FY 2024-25, IML reported revenue of Rs. 17,671.53 lakhs and profit after tax of Rs. 3,423.92 lakhs. A final dividend of Rs. 2 per equity share was proposed.