Indo Farm Q1 FY27 Revenue Up 15% to ₹104.93 Crore; New Plant Production by Nov
Indo Farm Equipment reported Q1 FY27 revenue of ₹104.93 crore, up 15% YoY. EBITDA grew 11% to ₹13.09 crore. Tractor revenue surged 36% to ₹52.08 crore, while crane revenue was flat. The company expects 20-25% overall revenue growth for FY27 and commercial production at its new plant by November.
The results show positive growth, and the new plant and product development are significant. However, the crane segment's flatness and the timeline for full capacity utilization in the new plant moderate the immediate impact.
The company reported positive year-on-year growth in revenue and EBITDA, with a significant surge in the tractor segment. The guidance for the full year remains strong, and progress on new plant and product development indicates a positive outlook.
Indo Farm Equipment Limited announced its financial results for the first quarter of FY27, reporting a revenue from operations of ₹104.93 crore, a year-on-year growth of 14.98% compared to ₹91.26 crore in the same quarter last year. EBITDA stood at ₹13.09 crore, an increase of 10.84% from ₹11.81 crore in the previous year.
The tractor segment revenue saw significant growth, increasing by 36.29% to ₹52.08 crore from ₹38.21 crore. The crane segment revenue remained almost flat, recording ₹52.86 crore compared to ₹53.05 crore in the previous year.
The company maintained its revenue growth guidance of 20-25% for FY27. Tractor revenue is expected to grow by 25-30%, while crane revenue is projected to grow by 15-20%. The EBITDA margin is anticipated to be in the range of 12.5% to 13% on a standalone basis.
Commercial production at the new Bhud site is expected to commence by the end of November this year. The company has also successfully developed and tested its first tower crane prototype, with commercial production planned for the current financial year.
During the Q&A session, management addressed queries regarding crane profitability, the impact of new emission norms, dealer network expansion, and capacity utilization. The company expects to pass on cost increases in the crane segment from Q2 onwards and plans to appoint approximately 60-plus dealers to cover the country once the new plant is operational. Tractor capacity utilization is currently around 35-40%, with the machine shop operating at 80-85% utilization.
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