Igarashi Motors India Limited (IGARASHI)

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Igarashi Motors India Limited (IGARASHI) · mywealthgrid

About

Igarashi Motors India Limited manufactures auto components and equipment, ₹1,439.71 Cr market cap, quarterly revenues ₹250 Cr. Promoter-controlled (75%), operates in cyclical auto-component supply.

Face value: ₹10

Market cap

₹1,257 Cr

P/E

76.6×

P/B

2.7×

Dividend yield

0.3%

ROE

2.6%

ROCE

5.4%

Debt / equity

0.28

OPM

9.6%

EPS (TTM)

₹5.2

Book value

₹148.2

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 87.79 relative to tight earnings; verify if temporary pricing weakness or structural issue
Operating margins compressed: 12.16% (Sep 2024) → 8.52% (Mar 2026), profit swings ₹1.59–₹7.79 Cr suggest cyclical or competitive pressure
ROE 2.61% exceptionally low; verify structural capital inefficiency vs. cyclical trough
FII ownership 0.5% signals limited institutional confidence or visibility

Generated analysis · source review pending

Growth drivers

Jun 2026 revenue ₹250.87 Cr, up 22.5% YoY from ₹204.71 Cr (Jun 2025)
Dividends sustained annually (2021–2026) across cycles; demonstrates resilient cash generation
Operating margin recovered to 9.77% (Jun 2026) from 8.52% (Mar 2026), indicates cost restoration potential if pressures ease
Verify auto-component sector demand trends and this company's EV supply positioning

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹399.0-3.1%1Y

Quick read

rule-based

Pros

+High promoter holding of 75% with no pledge

Cons

−Low return on equity of 3.4% (3-yr avg)
−Profit declined 13.9% a year over the last 5 years
−Expensive at 76.6× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

48/100

Business quality: 23
Growth: 83
Valuation: 38

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Samvardhana Motherson International LimitedMOTHERSONMOTHERSON	₹1,65,731 Cr	₹1,81,626 Cr	₹1,31,135 Cr	₹12,541 Cr	9.4%	₹4,380 Cr	3.2%	12.6%	10.2%	-26
Bosch LimitedBOSCHLTDBOSCHLTD	₹1,34,166 Cr	₹1,34,166 Cr	₹21,088 Cr	₹2,832 Cr	13.2%	₹2,363 Cr	13.8%	21%	19.4%	13
Bharat Forge LimitedBHARATFORGBHARATFORG	₹89,644 Cr	₹96,518 Cr	₹17,543 Cr	₹2,963 Cr	17.4%	₹706 Cr	6.5%	17.9%	11.5%	136
Uno Minda LimitedUNOMINDAUNOMINDA	₹64,160 Cr	₹66,698 Cr	₹20,725 Cr	₹2,280 Cr	11.5%	₹1,202 Cr	6.5%	19.3%	19.1%	37
Schaeffler India LimitedSCHAEFFLERSCHAEFFLER	₹60,732 Cr	₹60,787 Cr	₹10,505 Cr	₹1,917 Cr	18.2%	₹1,253 Cr	11.9%	27.3%	20.2%	68
Sona Blw Precision Forgings LimitedSONACOMSSONACOMS	₹50,071 Cr	₹50,314 Cr	₹4,935 Cr	₹1,207 Cr	24.7%	₹686 Cr	14.1%	14.6%	11%	121
Tube Investments Of India LimitedTIINDIATIINDIA	₹45,302 Cr	₹45,695 Cr	₹23,754 Cr	₹2,260 Cr	9.9%	₹607 Cr	4.9%	15.4%	9.6%	41
Endurance Technologies LimitedENDURANCEENDURANCE	₹36,602 Cr	₹37,928 Cr	₹15,592 Cr	₹2,058 Cr	13.5%	₹970 Cr	6.5%	18.5%	15.2%	-6
Exide Industries LimitedEXIDEINDEXIDEIND	₹34,803 Cr	₹35,896 Cr	₹18,829 Cr	₹1,954 Cr	10.4%	₹932 Cr	4.8%	8.9%	6.1%	42
Dhoot Transmission LimitedDHOOTTRANSDHOOTTRANS	₹29,518 Cr	₹30,359 Cr	₹4,525 Cr	₹711 Cr	15.7%	₹397 Cr	8.8%	30.8%	23.1%	69
Craftsman Automation LimitedCRAFTSMANCRAFTSMAN	₹26,897 Cr	₹30,238 Cr	₹8,717 Cr	₹1,357 Cr	15.3%	₹465 Cr	4.8%	16.1%	12.5%	74
Sansera Engineering LimitedSANSERASANSERA	₹26,686 Cr	₹27,144 Cr	₹3,753 Cr	₹696 Cr	18.1%	₹351 Cr	9.3%	14.7%	11.1%	98

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	445	508	450	606	534	533	556	656	725	838	866
COGS	-265	-300	-264	335	313	320	368	436	483	541	566
Gross profit	—	—	—	271	221	213	188	220	242	297	300
	622	703	612	155	144	139	142	160	168	202	217
	88	106	102	116	77	74	46	60	74	95	83
OPM %	19.8%	20.8%	22.7%	19.1%	14.5%	13.8%	8.3%	9.2%	10.2%	11.3%	9.6%
Depreciation	—	—	25	40	43	45	44	47	49	52	57
Interest	5	2	2	15	14	6	7	12	13	13	11
	14	15	26	25	12	10	7	8	2	2	2
Profit before tax	97	111	102	86	32	32	2	9	14	33	17
Tax	34	38	36	29	3	7	1	4	4	8	4
Tax %	34.6%	33.7%	35.1%	33.2%	7.9%	21.1%	48.5%	42.4%	31.1%	25.7%	26.5%
	64	74	66	57	30	26	1	5	10	24	12
PAT margin %	14.3%	14.5%	14.7%	9.5%	5.6%	4.8%	0.2%	0.8%	1.3%	2.9%	1.4%
EPS (₹)	20.8	24.1	21.7	18.2	9.5	8.1	0.4	1.7	3	7.7	3.9
EPS adjusted (₹)	—	—	—	18.2	9.5	8.1	0.4	1.7	3	7.7	3.9
	26.5%	27.4%	27.7%	26.9%	12.6%	18.4%	0%	60.2%	32.9%	32.6%	33.7%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	31	31	31	31	31	31	31	31
Reserves	—	391	408	407	408	416	434	435
	—	75	68	66	92	112	129	129
	—	175	192	173	194	214	180	239
Total equity & liabilities	—	673	700	677	726	774	775	834
	383	394	370	378	352	344	378	401
CWIP	—	5	6	10	37	57	57	50
Investments	—	28	1	21	17	16	17	1
	—	246	323	267	320	357	323	382
Total assets	—	673	700	677	726	774	775	834

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Automotive	761.78	103.81	681.5	183.25	498.25	20.83
Non-automotive	104.14	-2.04

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	44.7%	41.4%	39.9%	33.8%	33.5%	33.4%	35.4%	34.6%
EBITDA margin %	19.1%	14.5%	13.8%	8.3%	9.2%	10.2%	11.3%	9.6%
EBIT margin %	12.5%	6.5%	5.5%	0.3%	2%	3.4%	5.2%	3%
PAT margin %	9.5%	5.6%	4.8%	0.2%	0.8%	1.3%	2.9%	1.4%
Working capital
Receivable days	—	94	114	88	98	104	76	91
Inventory days	—	89	115	81	91	86	75	75
Payable days	—	113	139	92	95	103	74	106
NWC days	—	69	91	77	93	87	76	61
Leverage
Current ratio	—	1.27	1.42	1.51	1.41	1.37	1.24	1.1
Debt to EBITDA	—	0.97	0.93	1.41	1.53	1.51	1.36	1.56
Debt to equity	—	0.18	0.16	0.15	0.21	0.25	0.28	0.28
Interest coverage	6.8	3.3	6.3	1.4	1.8	2.1	3.4	2.5
Asset turnover	—	0.79	0.76	0.82	0.9	0.94	1.08	1.04
Return ratios
Return on assets %	—	4.4%	3.7%	0.2%	0.7%	1.2%	3.1%	1.5%
Return on capital employed %	—	9.8%	8.1%	1.8%	4.3%	5.3%	9%	5.4%
Return on equity %	—	7.1%	5.8%	0.3%	1.2%	2.1%	5.2%	2.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	0.14%	0.86%	0.89%	0.82%	0.9%	1.3%	1.15%	0.95%	0.12%	0.1%	0.13%	0.5%
	2.62%	1.9%	1.86%	2.05%	1.73%	1.79%	2.28%	2.07%	2.22%	2.14%	2.13%	3.65%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	22.24%	22.24%	22.25%	22.13%	22.37%	21.91%	21.57%	21.98%	22.66%	22.76%	22.74%	20.85%
No. of shareholders	—	—	—	—	—	—	—	—	26,598	27,129	26,971	27,607

Promoter holding up 0 percentage points since Sep 2023.

71 deals · 8 Sept 2022 – 15 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
15 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	11,89,309	₹455.06	₹54.12 Cr
15 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	11,89,309	₹454.65	₹54.07 Cr
15 Sept 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	5,51,991	₹454.68	₹25.10 Cr
15 Sept 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	5,47,796	₹454.84	₹24.92 Cr
15 Sept 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	5,07,463	₹454.59	₹23.07 Cr
15 Sept 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	5,07,463	₹454.89	₹23.08 Cr
15 Sept 2026	IRAGE BROKING SERVICES LLP	Bulk	NSE	Buy	3,16,605	₹456.52	₹14.45 Cr
15 Sept 2026	IRAGE BROKING SERVICES LLP	Bulk	NSE	Sell	3,03,872	₹453.98	₹13.80 Cr
15 Sept 2026	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Buy	2,87,082	₹456.90	₹13.12 Cr
15 Sept 2026	SILVERLEAF CAPITAL SERVICES PRIVATE LIMITED	Bulk	NSE	Sell	2,87,082	₹457.11	₹13.12 Cr

1–10 of 71

1 / 8

Mr. HEMANT NERURKAR MADHUSUDANNon-Executive - Non Independent Director-Chairperson
Mr. RAJAGOPAL CHANDRASEKARANExecutive Director-MD
Mrs. VINODHINI SENDHIL MANIANNon-Executive - Independent Director
Mr. RAMKUMAR LAKSHMINARAYANANNon-Executive - Independent Director
Mr. HARUO IGARASHINon-Executive - Non Independent Director
Mr. S VivekchandranathChief Financial Officer
Mr. THOMAS FRANCIS MCKEOUGHNon-Executive - Non Independent Director
P Dinakara BabuCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 1 fund houses

Held by these funds

3.06%

of the company's equity

All mutual funds

3.06%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

2 schemes

		Shares
Portfolio of Kotak MNC Fund	Kotak Mahindra Mutual Fund	6.5 L	27.3	1.18%	2.063%	-0
Portfolio of Kotak Transportation & Logistics Fund	Kotak Mahindra Mutual Fund	3.14 L	13.19	2.44%	0.997%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

12 announcementsExport CSV

17 Sept 2026, 5:32 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	44.7%	41.4%	39.9%	33.8%	33.5%	33.4%	35.4%	34.6%
EBITDA margin %	19.1%	14.5%	13.8%	8.3%	9.2%	10.2%	11.3%	9.6%
EBIT margin %	12.5%	6.5%	5.5%	0.3%	2%	3.4%	5.2%	3%
PAT margin %	9.5%	5.6%	4.8%	0.2%	0.8%	1.3%	2.9%	1.4%
Working capital
Receivable days	—	94	114	88	98	104	76	91
Inventory days	—	89	115	81	91	86	75	75
Payable days	—	113	139	92	95	103	74	106
NWC days	—	69	91	77	93	87	76	61
Leverage
Current ratio	—	1.27	1.42	1.51	1.41	1.37	1.24	1.1
Debt to EBITDA	—	0.97	0.93	1.41	1.53	1.51	1.36	1.56
Debt to equity	—	0.18	0.16	0.15	0.21	0.25	0.28	0.28
Interest coverage	6.8	3.3	6.3	1.4	1.8	2.1	3.4	2.5
Asset turnover	—	0.79	0.76	0.82	0.9	0.94	1.08	1.04
Return ratios
Return on assets %	—	4.4%	3.7%	0.2%	0.7%	1.2%	3.1%	1.5%
Return on capital employed %	—	9.8%	8.1%	1.8%	4.3%	5.3%	9%	5.4%
Return on equity %	—	7.1%	5.8%	0.3%	1.2%	2.1%	5.2%	2.6%

Date	Category	Subject	Filing
17 Sept 2026, 5:32 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
8 Aug 2026, 4:17 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
7 Aug 2026, 1:43 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
7 Aug 2026, 1:37 pm	AGM/EGM AGM	Outcome Of 34Th Annual General Meeting	PDF
7 Aug 2026, 1:29 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
27 Jul 2026, 5:35 pm	Board Meeting	Board Meeting Intimation for Intimation Of Board Meeting To Consider Unaudited Financial Results For The First Quarter Ended June 30, 2026 As Per Indas	PDF
14 Jul 2026, 3:20 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
13 Jul 2026, 2:46 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	82	94	164	90	41	73	34	50	94	94
	-159	-69	-104	-41	6	-55	-32	-51	-90	-63
	-29	-27	-59	-49	-38	-24	-4	0	-5	-30
Net cash flow	-106	-1	0	0	9	-6	-1	-1	-1	0
Free cash flow	82	94	164	—	41	73	-2	-3	4	14
CFO / Operating profit %	77.8%	92.3%	141.9%	116.7%	55.1%	156.8%	56.4%	68%	98.7%	113.4%

Igarashi Motors India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

16

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Automotive · revenue

Igarashi Motors India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends16

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Automotive · revenue

16

1

1