1. At a Glance
Indo Farm makes tractors, cranes, and harvesters—but despite building things that lift, its stock is struggling to lift off. With a ₹1,017 Cr market cap, a lofty 43x P/E, and flat growth, is this farmer’s friend planting seeds of profit… or weeds?
2. Introduction with Hook
Imagine building tractors that plow fields, cranes that lift 30-ton payloads, and combines that harvest acres—yet investors are harvesting only 5% ROE.
Welcome to Indo Farm Equipment, where horsepower on the ground doesn’t always mean horsepower in the earnings.
- FY25 Net Profit: ₹24 Cr
- OPM slipped from 18% to 15%
- Revenue CAGR (5Y): ~10%
- Promoter holding: 69.44%
And yes, zero dividends so far.
3. Business Model – WTF Do They Even Do?
Indo Farm Equipment manufactures and sells:
- Tractors (16–110 HP)
- Pick & Carry Cranes (9–30 tons)
- Harvesters, Rotavators & Farm Implements
It operates under the brands Indo Farm and Indo Power. Distribution is pan-India with
