Igarashi Motors India Ltd
NSE: IGARASHI · Auto Components & Equipments · sector
₹358.40NSE close 2026-10-26
Key numbers
Market cap₹1,128 cr
Price₹358.40
52w high / low₹538 / ₹271
P/E68.8xSector median 24.3x
P/B2.4xSector median 3.3x
Book value₹148.2
Dividend yield0.68%Sector median 0.55%
ROE3.5%Sector median 14.0%
ROCE5.2%Sector median 15.8%
OPM9.6%Sector median 11.6%
Debt / equity0.28xSector median 0.28x
EV/EBITDA14.3xSector median 13.0x
Interest cover2.9x
Current ratio1.10x
Sales growth 3y+9.7%Sector median +9.0%
Profit growth 3y+32.4%Sector median +9.5%
PEG2.11x
Last 12 months to Jun 2026, Standalone. "Sector median" = middle value of 132 companies in Auto Components & Equipments (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹3 cr vs borrowings ₹129 cr (FY26): borrowings are higher by ₹126 cr.
- Operating profit covered interest 2.9x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 12% of net profit in the last 12 months.
- Debtor days went from 104 (FY24) to 91 (FY26).
- Dividend paid in 4 of the last 5 financial years.
- Price ₹358.40 on 2026-10-26: -33.4% from the 52-week high, +32.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹815.25 · low ₹294.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 216 | 211 | 189 | 205 | 219 | 216 | 226 | 251 |
| EBITDA | 26 | 24 | 20 | 20 | 23 | 20 | 19 | 25 |
| OPM % | 12.2% | 11.3% | 10.4% | 9.6% | 10.7% | 9.4% | 8.5% | 9.8% |
| Other income | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 |
| Net profit | 8 | 5 | 3 | 3 | 5 | 4 | 2 | 7 |
| EPS (₹) | 2.48 | 1.64 | 0.97 | 0.80 | 1.44 | 1.11 | 0.51 | 2.15 |
| Revenue YoY | +1.4% | +2.5% | +19.3% | +22.5% | ||||
| Profit YoY | -41.7% | -32.2% | -48.0% | +169.7% |
Standalone figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 556 | 656 | 725 | 838 | 866 | 912 |
| EBITDA | 46 | 60 | 74 | 95 | 83 | 88 |
| Net profit | 1 | 5 | 10 | 24 | 12 | 16 |
| EPS (₹) | 0.38 | 1.66 | 3.04 | 7.68 | 3.86 | 5.21 |
| Revenue growth | +17.9% | +10.5% | +15.6% | +3.3% | +11.1% | |
| Profit growth | +340.3% | +82.6% | +152.6% | -49.7% | -11.4% | |
| Dividend / share (₹) | 1.50 | – | 1.00 | 1.00 | 2.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +9.7% | +10.2% | +11.1% |
| Net profit | +32.4% | -13.9% | -11.4% |
| EPS | +32.5% | -13.9% | – |
| Share price | – | -27.1% (2y) | -27.8% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 440 | 447 | 466 | 467 |
| Borrowings | – | 92 | 112 | 129 | 129 |
| Cash & equivalents | – | 22 | 20 | 20 | 3 |
| Total assets | – | 726 | 774 | 775 | 834 |
| Fixed assets | – | 345 | 338 | 369 | 395 |
| Capital work in progress | – | 37 | 57 | 57 | 50 |
| Investments | – | 0 | 0 | 1 | 1 |
| Receivables | – | 176 | 207 | 173 | 216 |
| Inventory | – | 109 | 113 | 111 | 117 |
| Payables | – | 114 | 137 | 110 | 164 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 73 | 34 | 50 | 94 | 94 |
| Cash from investing | -55 | -32 | -51 | -90 | -63 |
| Cash from financing | -24 | -4 | 0 | -5 | -30 |
| Capex | 0 | 36 | 54 | 90 | 80 |
| Free cash flow | 73 | -2 | -3 | 4 | 14 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 1.2% | 2.1% | 5.2% | 2.6% |
| ROCE % | – | 4.0% | 4.8% | 7.7% | 4.6% |
| Debtor days | – | 98 | 104 | 76 | 91 |
| Inventory days | – | 91 | 86 | 75 | 75 |
| Payable days | – | 95 | 103 | 74 | 106 |
| Cash conversion cycle (days) | – | 94 | 87 | 77 | 60 |
| Working capital days | – | 53 | 50 | 27 | 14 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 75.00% |
| FIIs | 0.04% |
| DIIs | 3.64% |
| of which Mutual funds | 3.06% |
| Public (non-institutions) | 21.32% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% | 75.00% |
| Promoter group | % |
|---|---|
| Agile Electric SUB Assembly PVT Ltd | 54.46% |
| Igarashi Electric Works Limited | 12.59% |
| M S Igarashi Electric Works H.K. Ltd | 7.94% |
| Public holders above 1% | % |
|---|---|
| Kotak Mahindra Trustee Co Ltd A/C Kotak Transportation & Logistics Fund | 3.06% |
28,642 shareholders. Pledged: 0.00% of promoter shares.
Peers in Auto Components & Equipments
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| MOTHERSON | ₹1,62,274 cr | 37.0x | 4.0x | 11.6% | 12.9% | 9.3% | +17.0% | 0.44% |
| BOSCHLTD | ₹1,32,455 cr | 56.0x | 8.9x | 16.5% | 21.7% | 13.4% | +10.3% | 1.14% |
| BHARATFORG | ₹82,736 cr | 117.2x | 8.7x | 7.5% | 10.0% | 14.0% | +9.2% | 0.46% |
| UNOMINDA | ₹61,747 cr | 51.3x | 9.0x | 19.1% | 16.6% | 10.9% | +20.5% | 0.27% |
| SCHAEFFLER | ₹54,960 cr | 43.9x | 8.9x | 21.6% | 27.8% | 18.2% | – | – |
| SONACOMS | ₹48,637 cr | 69.8x | 8.1x | 12.0% | 15.2% | 23.6% | +18.7% | 0.41% |
| TIINDIA | ₹40,369 cr | 66.5x | 5.2x | 9.1% | 23.6% | 9.2% | +15.2% | 0.42% |
| ENDURANCE | ₹31,415 cr | 32.4x | 4.6x | 15.4% | 16.7% | 13.1% | +18.4% | 0.45% |
| EXIDEIND | ₹28,636 cr | 30.7x | 2.1x | 6.7% | 9.7% | 10.3% | +6.1% | 0.60% |
| IGARASHI | ₹1,128 cr | 68.8x | 2.4x | 3.5% | 5.2% | 9.6% | +9.7% | 0.68% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Automotive | ₹762 cr | 88.0% | ₹104 cr | 13.6% |
| Non-automotive | ₹104 cr | 12.0% | ₹-2 cr | -2.0% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-31 | Dividend | Dividend - Rs 1.30 Per Share |
| 2025-07-31 | Dividend | Dividend - Rs 2.50 Per Share |
| 2024-07-31 | Other | Annual General Meeting |
| 2024-07-31 | Dividend | Dividend - Re 1 Per Share |
| 2023-07-31 | Dividend | Annual General Meeting/Dividend - Re 1 Per Share |
| 2022-08-01 | Other | Annual General Meeting |
| 2021-07-29 | Dividend | Annual General Meeting/Dividend - Rs 1.50 Per Share |
| 2020-09-09 | Dividend | Annual General Meeting/Dividend - Rs 1.20 Per Share |
| 2019-09-19 | Dividend | Annual General Meeting/Dividend - Rs 4.90 Per Share |
| 2018-09-27 | Bonus | Bonus 25:202 |
| 2018-08-02 | Dividend | Annual General Meeting/Dividend- Rs 6 Per Share |
| 2017-07-25 | Dividend | Annual General Meeting/Dividend - Rs 6.61 Per Share |
| 2016-07-27 | Dividend | Annual General Meeting/Dividend-Rs 1.50 /-Per Share |
| 2016-03-21 | Dividend | Interim Dividend - Rs 4/- Per Share (Purpose Revised) |
| 2015-07-14 | Dividend | Annual General Meeting/ Dividend - Rs 4.44/- Per Share |
| 2014-07-17 | Dividend | Annual General Meeting / Dividend Rs 2/- Per Share |
| 2014-02-25 | Dividend | Interim Dividend Re.1/- Per Share |
| 2013-09-12 | Other | Annual General Meeting |
| 2012-09-06 | Other | Annual General Meeting |
| 2011-09-08 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Electrical Equipment, general purpose and special purpose machinery & equipment: Manufacturing
| Sector | Consumer Discretionary |
| Industry | Auto Components & Equipments |
| Sub-industry | Auto Components & Equipments |
| Symbol | IGARASHI |
| BSE code | 517380 |
| ISIN | INE188B01013 |
| Face value | ₹10.0 |
| Incorporated | 1992-01-10 |
| Website | www.igarashimotors.com |
| Plants (India / abroad) | 9 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.