Indo Farm Equipment LimitedQ1 FY27 Results & Financial Update
Indo Farm Equipment Limited: Q1 FY27 consolidated results and company financials – revenue ₹110.24 Cr, PAT ₹5.66 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Indo Farm Equipment Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Indo Farm Equipment Limited recorded consolidated revenue from operations of INR 110.2430 crore for the quarter ended June 30, 2026, accompanied by other income of INR 1.0505 crore, bringing total consolidated income to INR 111.2935 crore.
Total consolidated expenses for Q1 FY27 were reported at INR 103.4554 crore, driven primarily by raw material consumption of INR 64.0443 crore and employee benefit expenses of INR 14.9161 crore.
The consolidated profit before tax (PBT) for the quarter stood at INR 7.8381 crore after accounting for finance costs of INR 4.0510 crore and depreciation and amortisation expenses of INR 3.6243 crore.
Consolidated profit after tax (PAT) for the quarter was reported at INR 5.6574 crore, resulting in a basic and diluted earnings per share (EPS) of INR 1.18 for the period.
On a standalone basis, revenue from operations reached INR 104.9321 crore with a profit after tax of INR 5.0576 crore and a basic EPS of INR 1.05.
Segment reporting indicates that crane operations generated INR 52.8568 crore in segment revenue with a segment result of INR 48.1460 crore, while the tractor segment recorded INR 52.0754 crore in revenue and INR 37.5340 crore in segment results.
The company's NBFC subsidiary, Barota Finance Limited, contributed INR 5.3109 crore in segment revenue and INR 2.2705 crore in segment results for the quarter.
01 · Business model
What does Indo Farm Equipment do?
Indo Farm Equipment Limited manufactures and distributes heavy agricultural machinery, specifically tractors, alongside pick and carry cranes and related engineering products.
The company operates through key manufacturing and corporate infrastructure located in Baddi, Himachal Pradesh, supported by a registered office in Chandigarh.
In addition to manufacturing operations, the group participates in financial services through its subsidiary, Barota Finance Limited, which provides financing and capital support.
The company generates revenue by commercializing its tractor and crane product portfolios across domestic and export markets while leveraging internal financing capabilities through its NBFC arm.
02 · Historical context
What shaped the business before this quarter
During financial year 2024-25, the company completed an initial public offering (IPO) of 1,21,00,000 equity shares at INR 215 per share, raising fresh capital and providing an offer for sale.
From the IPO proceeds, the company allocated INR 7,007.40 lakh toward setting up a new dedicated unit for expanding pick and carry cranes manufacturing capacity, of which INR 2,540.00 lakh had been utilized by June 30, 2026.
The company also earmarked INR 4,500.00 lakh from IPO proceeds as an investment in its NBFC subsidiary, Barota Finance Limited, to augment its capital base, with the entire amount fully utilized as of June 30, 2026.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹110.24 Cr |
| Total income | ₹111.29 Cr |
| Profit before tax | ₹7.84 Cr |
| Profit after tax | ₹5.66 Cr |
| EPS | ₹1.18 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Crane manufacturing contributed INR 52.8568 crore to consolidated revenue during Q1 FY27, matching the standalone crane revenue figure.
Tractor operations delivered INR 52.0754 crore in revenue during the quarter on both standalone and consolidated bases.
The NBFC subsidiary, Barota Finance Limited, contributed INR 5.3109 crore in segment revenue to the consolidated total.
Consolidated other income contributed INR 1.0505 crore to the top-line figures during the quarter.
What drove margins
Cost of materials consumed stood at INR 64.0443 crore, offset by a positive change in inventories of finished goods, work-in-progress, and stock-in-trade amounting to INR 1.2416 crore.
Employee benefit expenses for the consolidated entity were recorded at INR 14.9161 crore, while other expenses accounted for INR 15.5781 crore.
Consolidated finance costs were reported at INR 4.0510 crore, and depreciation and amortisation expenses stood at INR 3.6243 crore for the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The cranes division reported revenue of INR 52.8568 crore and a segment result of INR 4.8146 crore, with segment assets of INR 29,641.87 lakh.
The tractor division generated INR 52.0754 crore in revenue and a segment result of INR 3.7534 crore, with consolidated segment assets of INR 22,422.57 lakh.
Barota Finance Limited reported segment revenue of INR 5.3109 crore and a segment result of INR 2.2705 crore, holding segment assets of INR 15,239.27 lakh.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Out of INR 7,007.40 lakh planned net proceeds from the IPO for a new dedicated unit to expand pick and carry cranes manufacturing capacity, INR 2,540.00 lakh had been utilized up to June 30, 2026, leaving an unutilized amount of INR 4,467.00 lakh.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The company fully deployed the allocated INR 4,500.00 lakh into its subsidiary Barota Finance Limited to support capital requirements for financing activities.
08 · Reported developments
What changed operationally
Statutory auditors issued an unmodified review report on both standalone and consolidated financial results for Q1 FY27.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
As of June 30, 2026, unutilized IPO proceeds are parked in the form of bank balances and fixed deposits with scheduled commercial banks.
Capital allocation & funding
The company fully utilized the allocated INR 5,000.00 lakh of IPO proceeds toward the repayment or pre-payment of certain borrowings.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Internal Auditor Appointment
The board approved the appointment of Mr. Saravjit Singh as the Internal Auditor of the company for a three-year term covering financial years 2026-27 to 2028-29, effective August 08, 2026.
11 · Key Q&A
The quarter, answered directly
What does Indo Farm Equipment do?
Indo Farm Equipment Limited manufactures and distributes heavy agricultural machinery, specifically tractors, alongside pick and carry cranes and related engineering products.
What is the clearest takeaway from Q1 FY27?
Indo Farm Equipment Limited recorded consolidated revenue from operations of INR 110.2430 crore for the quarter ended June 30, 2026, accompanied by other income of INR 1.0505 crore, bringing total consolidated income to INR 111.2935 crore.
What drove revenue or demand?
Crane manufacturing contributed INR 52.8568 crore to consolidated revenue during Q1 FY27, matching the standalone crane revenue figure.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 64.0443 crore, offset by a positive change in inventories of finished goods, work-in-progress, and stock-in-trade amounting to INR 1.2416 crore.
What changed operationally beyond the headline numbers?
Out of INR 7,007.40 lakh planned net proceeds from the IPO for a new dedicated unit to expand pick and carry cranes manufacturing capacity, INR 2,540.00 lakh had been utilized up to June 30, 2026, leaving an unutilized amount of INR 4,467.00 lakh.
What should the next disclosure help confirm?
Monitor the further utilization of the remaining INR 4,467.00 lakh earmarked for the new pick and carry cranes manufacturing capacity expansion.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Dedicated Crane Unit Execution: Monitor the further utilization of the remaining INR 4,467.00 lakh earmarked for the new pick and carry cranes manufacturing capacity expansion.
- 02
Subsidiary Growth: Track the lending performance and asset quality of subsidiary Barota Finance Limited following the full infusion of capital.
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