Indo Farm Equipment Limited has informed the Exchange about Transcript
INDOFARM · price
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Indo Farm Equipment held its first post-IPO earnings call, reporting FY25 standalone revenue of ₹366.77 cr (consolidated ₹387.19 cr) and PAT of ₹22.61 cr (consolidated ₹23.55 cr). Q4 standalone revenue was ₹125.16 cr with PAT of ₹13.29 cr. Management outlined a ₹70 cr capex for a new facility that will add 3,600 pick-and-carry cranes per annum, targeting ~50% utilization in FY27. The company is also entering the tower crane segment via a one-time technology payment (no royalty) to a 50-year-old Chinese partner, with first assembly expected by January 2026. Management guided PAT margin improvement from ~6% currently to 8-9% by FY27, driven by better capacity utilization and a 30% growth target in FY26 across tractors and cranes. Tractor volume guidance: 30%/25%/20% growth over the next three years, supported by dealer expansion from 150 to 500. Captive NBFC arm Barota Finance has an AUM of ₹131 cr with gross NPA at 4.05% and finances 25-30% of company sales.
Positively signals margin expansion and capacity-led growth, though execution risk is high given the tower crane entry, aggressive dealer addition plans, and the company has historically operated at low (~30%) capacity utilization in tractors. Investors should watch for Q3 FY26 production start at the new plant and January 2026 tower crane milestones.