Indef Manufacturing Limited announced on July 30, 2025, that its board has approved the acquisition of an 80% equity stake in Daedalus Lift & Access Equipments Pvt. Ltd for ₹5.07 crore, paying in cash. Daedalus, established in 2017 and based in Pune, specializes in Mobile Elevating Work Platforms and material handling. Its FY25 turnover was ₹6.71 crore with a loss after tax of ₹1.90 crore. After completion, Daedalus will become a subsidiary of Indef, further broadening the group’s product portfolio.

Indef Manufacturing is a leading Indian player in industrial lifting and material movement solutions, with a national presence and a legacy connected to the demerged Hercules Hoists Ltd. The company recently announced a final dividend of ₹2 per share and its 3rd AGM will take place on August 12, 2025. Over FY25, Indef reported total consolidated revenue of ₹195.60 million and PAT of ₹34.16 million, maintaining robust profitability margins, though it is not widely known for celebrity investors.