Indef Manufactur (BAJAJINDEF)
CyclicalFairStock Score: 2/100 — RISKY
Score breakdown: P/E: 1/3 · ROCE: 0/2 · Growth: 0/2 · Dividend: 0/1
Key Financials
| Current Price | ₹217.15 |
| Market Cap | ₹694.88 Cr |
| P/E Ratio | 29.42 |
| ROCE | 0% |
| ROE | —% |
| Dividend Yield | 0.92% |
| Profit Growth | -2.8% |
| Debt/Equity | 0.02 |
| Sales Growth | -13.2% |
| Promoter Holding | 69.61% |
| 52-Week Range | ₹207.25 — ₹442.6 |
| Sector | Industrial Manufacturing |
| Book Value | ₹84.3 |
Strengths
- Low leverage: Debt/Equity of 0.02 provides financial stability.
- High promoter holding of 69.61% aligns owners with minority shareholders.
- Sales growth of 13.19% shows some demand traction.
- Latest quarter remained profitable with ₹5 Cr net profit on ₹51 Cr sales.
Concerns
- Profit growth is negative at -26.21%, while P/E of 29.24 makes valuation expensive on shrinking earnings.
- ROCE is reported at 0.00% and ROE is N/A, indicating poor or unverifiable return on capital.
- Piotroski F-Score of 3/9 and FairStock Score of 12/100 signal high fundamental risk.
- Latest quarterly net margin is thin, and dividend yield is low at 0.80%.
AI Analysis
Looking at Indef Manufactur, my first reaction is caution. At ₹312.55, I am being asked to pay 29.24 times earnings for an industrial products company whose profit has fallen 26.21%. Benjamin Graham taught me to buy earnings, not hope, and this price offers no margin of safety. Sales did grow 13.19%, but revenue growth without profit growth is not proof of a durable moat. The latest quarter shows ₹51 crore of sales and only ₹5 crore of net profit; that is a thin return and suggests pricing power is weak. The reported ROCE is 0.00% and ROE is unavailable, so I cannot see any convincing evidence that capital is being productively deployed. A 3.87 price-to-book ratio for a stock with book value of ₹80.71 means I would pay a large premium for a business whose fundamentals are deteriorating. The Piotroski F-Score of 3 out of 9 is a warning sign; it points to poor operating efficiency and financial condition. What do I like? Debt/equity is just 0.02, and promoters own 69.61%, so the balance sheet is conservative and owner interest is aligned. But low debt alone cannot justify a high valuation. The dividend yield is only 0.80%, the PEG ratio is 2.22, and the FairStock Score labels this stock risky at 12/100. Trading at ₹312.55, down from a high of ₹442.60 but still well above the low of ₹207.25, the stock is not obviously cheap. If I am to invest, I need evidence that returns on capital recover, profit growth turns positive, and earnings catch up with the price. Until then, this is a business to watch, not to buy.
Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer