Bajaj’s Indef Manufacturing Soars 5% After ₹5.07 Cr Acquisition Deal for 80% Stake in Daedalus

Mumbai, July 31, 2025: Indef Manufacturing Limited (NSE: BAJAJINDEF) has seen its shares surge by nearly 5% following a significant announcement regarding the acquisition of an 80% stake in Daedalus Lift & Access Equipments Pvt. Ltd. This strategic move, valued at ₹5.07 crore, is set to bolster Indef’s presence in key industrial segments, prompting a positive reaction in the market.”

Market Reaction and Trading Snapshot

As of 11:50 IST, Indef’s stock hit a high of ₹428.05, compared to a previous close of ₹407.70. The stock saw heightened buying interest, with a buy quantity of 7,168 shares against just 164 shares on the sell side, and a VWAP of ₹420.67.

Strategic Acquisition Details

In a BSE filing dated 30th July, Indef Manufacturing announced its board’s approval for a strategic investment of ₹5.07 crore to acquire an 80% equity stake in Daedalus Lift & Access Equipments Pvt. Ltd. Daedalus, a Pune-based company established on 21st April 2017, specialises in Mobile Elevating Work Platforms (MEWP) and Material Handling solutions. This acquisition is anticipated to be finalised by 30th October 2025, contingent upon the execution of a Share Purchase Agreement and the fulfilment of customary precedent conditions. Post-acquisition, Daedalus will become a subsidiary of Indef, strategically enhancing its portfolio within high-growth industrial sectors.

Daedalus Financials Snapshot (FY25)

For the financial year 2025, Daedalus Lift & Access Equipments Pvt. Ltd. reported a turnover of ₹6.71 crore. The company recorded a loss after tax of ₹ 1.90 crore and had a paid-up capital of ₹2.00 crore.

Post-acquisition, Daedalus will become a subsidiary of Indef, enhancing its presence in high-growth industrial segments.

Indef Manufacturing’s Financial Overview 

For the financial year ended March 2025 (FY25), Indef Manufacturing Limited reported a consolidated operating revenue of ₹178.63 crore and a Profit After Tax (PAT) of ₹34.16 crore. The company’s Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) for FY25 stood at ₹47.55 crore, with a Basic Earnings Per Share (EPS) of ₹10.68. As of FY25, Indef’s net worth was reported at ₹252.9 crore. In the fourth quarter of FY25 (Q4 FY25), the company’s total income was ₹52.98 crore, with a Profit After Tax of ₹10.13 crore.

Decoding The Acquisition For Investors

• Boosts Presence in Industrial Segment
  By acquiring an 80% stake in Daedalus, Indef is expanding into mobile elevating work platforms and material handling solutions, helping the company enter high-growth industrial equipment markets.
• Strategic Expansion Despite Daedalus’ Losses
  Although Daedalus reported a ₹1.90 crore loss in FY25, Indef sees long-term value in its specialised products. This shows Indef is focusing on future potential rather than short-term profitability.
• Low Investment, High Strategic Value
  The deal size of ₹5.07 crore is relatively small for Indef, which reported ₹178.63 crore in annual revenue. This limits financial risk while offering scope for integration and growth.
• Market Reaction Reflects Confidence
  Indef’s stock jumped nearly 5% after the announcement, showing that investors view the acquisition as a growth-positive move and trust the company’s expansion strategy.
• Strong Financial Base to Support Acquisition
  With a PAT of ₹34.16 crore and EBITDA of ₹47.55 crore in FY25, Indef has the financial strength to absorb Daedalus and invest in scaling its operations.
• Potential for Long-Term Operations
  Once Daedalus becomes a subsidiary, Indef can leverage its distribution, manufacturing, and capital to improve Daedalus’ performance and unlock operational efficiency.

Road Ahead For Indef

Indef’s acquisition of Daedalus signals a clear intent to strengthen its footprint in the industrial equipment space. While Daedalus is currently loss-making, its niche offerings in mobile work platforms could complement Indef’s existing product lines. With a strong financial base, Indef is well-positioned to support and scale Daedalus’ operations over time.

The success of this integration will depend on how effectively Indef can improve efficiency and drive growth in the newly acquired business. If managed well, this move could enhance Indef’s long-term market share and earnings potential.

About Bajaj’s Indef Manufacturing Limited

Indef Manufacturing Ltd, an integral part of the esteemed Bajaj Group, is a recently listed entity that was formed through the demerger of Hercules Hoists Ltd. The company primarily focuses on the production of industrial material handling equipment, falling under the Industrial Products category. Listed on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) with active trading status, Indef Manufacturing operates from its Mumbai headquarters and has manufacturing facilities located in Chakan and Khalapur. Through this strategic acquisition of Daedalus, Indef aims to further strengthen its industrial product portfolio and capitalise on India’s growing demand for advanced infrastructure and industrial automation solutions.

With this acquisition, Indef aims to deepen its industrial portfolio and tap into India’s expanding infrastructure and industrial automation demand.

REF: https://www.nseindia.com/get-quotes/equity?symbol=BAJAJINDEF

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