IGARASHI

Igarashi Motors India Limited

Precision actuator DC and BLDC motors for automotive applications

Consumer Discretionary›Automobile and Auto Components›Auto Components›Auto Components & Equipments

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Key metrics

Price as of 2026-10-16

Stock price
₹403.20
Market cap
1,269 Cr
Stock P/E
77.4
P/B
2.72
Dividend yield
0.6%
ROE (FY26)
2.6%
ROCE (FY26)
4.6%
Operating margin (FY26)
3.0%
Debt / equity (FY26)
0.28
OCF / EBITDA (FY26)
113.4%
OCF / EBITDA (3Y)
94.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Igarashi Motors India (IMIL) makes motors and motor sub-assemblies for global Tier-1 automotive suppliers, and BLDC (brushless DC) motors and electronic controller boards for makers of electric consumer durables.

Company snapshot

69thBy market cap

Ranked among 94 companies in Auto Components & Equipments.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 82.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Automotive
82.3%
534 Cr81 Cr—
Non-automotive
17.7%
115 Cr0.85 Cr—

What we see

Positives
  • ✓94% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 1.4% — little room for error if costs rise.
2 more signals from the filings.Sign in free to see them all

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales178 Cr174 Cr205 Cr222 Cr216 Cr211 Cr189 Cr205 Cr219 Cr216 Cr226 Cr251 Cr
Operating expenses (approx.)161 Cr156 Cr182 Cr197 Cr190 Cr187 Cr170 Cr185 Cr196 Cr196 Cr207 Cr226 Cr
EBITDA17 Cr17 Cr22 Cr25 Cr26 Cr24 Cr20 Cr20 Cr23 Cr20 Cr19 Cr25 Cr
OPM %9.7%10.0%11.0%11.4%12.2%11.3%10.4%9.6%10.7%9.4%8.5%9.8%
Other income0.46 Cr0.73 Cr0.34 Cr1 Cr0.33 Cr0.37 Cr0.31 Cr0.80 Cr0.14 Cr0.08 Cr0.75 Cr0.97 Cr
Interest3 Cr4 Cr3 Cr3 Cr4 Cr4 Cr3 Cr3 Cr3 Cr2 Cr2 Cr3 Cr
Depreciation12 Cr12 Cr12 Cr12 Cr13 Cr13 Cr13 Cr14 Cr14 Cr14 Cr15 Cr16 Cr
Profit before tax2 Cr2 Cr8 Cr11 Cr10 Cr7 Cr4 Cr3 Cr6 Cr4 Cr3 Cr7 Cr
Tax %27.1%25.9%34.7%25.3%25.3%28.0%23.5%25.4%26.5%17.0%42.1%5.5%
Net profit1 Cr2 Cr5 Cr8 Cr8 Cr5 Cr3 Cr3 Cr5 Cr4 Cr2 Cr7 Cr
EPS (₹)₹0.46₹0.49₹1.63₹2.59₹2.48₹1.64₹0.97₹0.80₹1.44₹1.11₹0.51₹2.15

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales516 Cr458 Cr606 Cr534 Cr533 Cr556 Cr656 Cr725 Cr838 Cr866 CrSign in free for the trailing twelve months
Operating expenses (approx.)396 Cr356 Cr491 Cr457 Cr459 Cr510 Cr596 Cr651 Cr743 Cr783 CrSign in free for the trailing twelve months
EBITDA121 Cr102 Cr116 Cr77 Cr74 Cr46 Cr60 Cr74 Cr95 Cr83 CrSign in free for the trailing twelve months
OPM %23.4%22.3%19.1%14.5%13.8%8.3%9.2%10.2%11.3%9.6%Sign in free for the trailing twelve months
Other income17 Cr26 Cr25 Cr12 Cr10 Cr7 Cr8 Cr2 Cr2 Cr2 CrSign in free for the trailing twelve months
Interest2 Cr2 Cr15 Cr14 Cr6 Cr7 Cr12 Cr13 Cr13 Cr11 CrSign in free for the trailing twelve months
Depreciation22 Cr25 Cr40 Cr43 Cr45 Cr44 Cr47 Cr49 Cr52 Cr57 CrSign in free for the trailing twelve months
Profit before tax114 Cr102 Cr86 Cr32 Cr32 Cr2 Cr9 Cr14 Cr33 Cr17 CrSign in free for the trailing twelve months
Tax %33.7%35.1%33.2%7.8%21.0%48.6%42.5%31.0%25.6%26.4%Sign in free for the trailing twelve months
Net profit75 Cr66 Cr57 Cr30 Cr26 Cr1 Cr5 Cr10 Cr24 Cr12 CrSign in free for the trailing twelve months
EPS (₹)₹24.61₹21.65₹18.24₹9.50₹8.14₹0.38₹1.66₹3.04₹7.68₹3.86Sign in free for the trailing twelve months
Dividend payout %————14.6%397.2%0.0%32.9%13.0%63.9%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital31 Cr31 Cr31 Cr31 Cr31 Cr31 Cr31 Cr31 Cr31 Cr31 Cr
Reserves335 Cr380 Cr398 Cr391 Cr408 Cr407 Cr408 Cr416 Cr434 Cr435 Cr
Borrowings9 Cr21 Cr58 Cr75 Cr68 Cr80 Cr92 Cr112 Cr129 Cr129 Cr
Other liabilities130 Cr108 Cr183 Cr175 Cr192 Cr159 Cr194 Cr214 Cr180 Cr239 Cr
Total liabilities504 Cr541 Cr670 Cr673 Cr700 Cr677 Cr726 Cr774 Cr775 Cr834 Cr
Fixed assets (net)157 Cr180 Cr379 Cr389 Cr354 Cr348 Cr345 Cr338 Cr369 Cr395 Cr
CWIP3 Cr40 Cr19 Cr5 Cr6 Cr10 Cr37 Cr57 Cr57 Cr50 Cr
Investments174 Cr50 Cr34 Cr28 Cr8 Cr41 Cr17 Cr16 Cr17 Cr1 Cr
Loans & advances——0 Cr0 Cr1 Cr0 Cr0 Cr0 Cr0.18 Cr0.18 Cr
Inventories44 Cr37 Cr62 Cr76 Cr101 Cr82 Cr109 Cr113 Cr111 Cr117 Cr
Trade receivables103 Cr103 Cr142 Cr137 Cr167 Cr135 Cr176 Cr207 Cr173 Cr216 Cr
Cash & bank4 Cr3 Cr3 Cr3 Cr12 Cr6 Cr5 Cr4 Cr3 Cr3 Cr
Other assets19 Cr128 Cr33 Cr34 Cr51 Cr54 Cr38 Cr38 Cr45 Cr52 Cr
Total assets504 Cr541 Cr670 Cr673 Cr700 Cr677 Cr726 Cr774 Cr775 Cr834 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity82 Cr64 Cr164 Cr91 Cr41 Cr73 Cr34 Cr50 Cr94 Cr94 Cr
Cash from investing-159 Cr-43 Cr-104 Cr-41 Cr6 Cr-55 Cr-32 Cr-51 Cr-90 Cr-63 Cr
Cash from financing-29 Cr-23 Cr-59 Cr-50 Cr-38 Cr-24 Cr-4 Cr0.11 Cr-5 Cr-30 Cr
Net cash flow-106 Cr-1 Cr0.37 Cr0.27 Cr9 Cr-6 Cr-1 Cr-0.74 Cr-1 Cr0.21 Cr
Free cash flow (OCF − Capex)48 Cr-17 Cr83 Cr57 Cr41 Cr73 Cr-2 Cr-3 Cr4 Cr14 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %31.0%24.1%20.6%9.4%7.6%1.7%4.0%4.8%7.7%4.6%
ROE %20.6%16.1%13.4%7.1%5.8%0.3%1.2%2.1%5.2%2.6%
Debtor days7382859411488971047591
Inventory days545067881158289857475
Days payable1099186112145939310373105
Cash conversion cycle17416670847793877661
OCF / EBITDA %68.0%63.0%141.8%117.1%55.1%156.8%56.4%68.0%98.7%113.4%
OCF / EBITDA % (3 years)——91.7%108.0%110.7%103.3%81.7%86.9%77.6%94.5%
Debt / equity0.020.050.140.180.160.180.210.250.280.28
Current ratio2.652.491.311.271.421.511.411.371.241.10
Net debt / EBITDA0.040.180.480.930.771.591.451.461.331.52