About the Company

Incorporated in 1994, Indo Farm Equipment Limited manufactures tractors, pick & carry cranes, and farm equipment, including harvester combines and rotavators. Operating under the brands Indo Farm and Indo Power, the company exports to markets such as Nepal, Syria, Sudan, Bangladesh, and Myanmar. Its manufacturing facility in Baddi, Himachal Pradesh, spans 127,840 sq. meters and includes a foundry, machine shop, and assembly units. The facility has an annual capacity of 12,000 tractors and 1,280 cranes, with plans underway to increase crane production capacity by 3,600 units annually through a new unit.

Strengths

1. 330+ tractor & 190 crane components in-house.
2. R&D for indigenous tractor & crane designs.
3. Barota Finance: ₹127.15 crore loans, 5,900+ customers.
4. Global presence in Africa, LATAM, Europe & Asia.
5. Retail financing by HDFC, Kotak, ICICI, Axis.
6. ISO-certified Baddi facility with foundry & assembly.

Risks

1. Revenue is heavily reliant on tractors and cranes
2. Awaiting approvals: consent to operate & fire safety NOCs.
3. Low tractor capacity due to financing & competition.
4. Heavy reliance on banks, NBFC, & Barota Finance.
5. Barota Finance is exposed to recovery & regulatory risks.
6. Geographical concentration in Himachal Pradesh poses operational risks.