Crane market recovery slower than expected
Crane volumes declined 4% YoY in Q3 due to emission norm transition; recovery may be slower if infrastructure spending disappoints.
INDOFARM / Q3-FY26 / risks
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Indo Farm Equipment · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
New facility ramp-up risks
The new crane facility (₹70-75 crore capex) may face delays in achieving targeted production of 1,000+ units in FY27.
EBITDA margin pressure from expansion costs
EBITDA margin declined from 16.12% to 12.77% due to higher marketing and manpower costs; margin recovery may take longer.