MarketFriction

Igarashi Motors India Ltd

NSE IGARASHI · BSE 517380 · Auto Components & Equipments
₹398.95 -1.10%
NSE close2026-10-01
52 week range271.05 - 558.00
Market cap₹1,299 Cr.
P/E79.2
Price band 20% Delivery 38.3%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales178.44173.75204.60222.07216.07210.80189.47204.71219.14216.09225.97250.87
Expenses161.11156.46182.16196.75189.79187.06169.76185.10195.67195.69206.70226.35
Operating Profit17.3317.2922.4425.3226.2823.7419.7119.6123.4720.4019.2724.52
OPM %9.71%9.95%10.97%11.40%12.16%11.26%10.40%9.58%10.71%9.44%8.53%9.77%
Other Income0.460.730.341.370.330.370.310.800.140.080.750.97
Interest3.383.512.783.383.553.832.633.173.262.092.482.63
Depreciation12.4112.4112.1312.3912.6413.1213.3913.8714.1814.1714.7815.70
Profit before tax2.002.107.8710.9210.427.164.003.376.174.222.767.16
Tax %27.00%25.71%34.69%25.27%25.34%28.07%23.50%25.22%26.58%17.06%42.03%5.45%
Net Profit1.461.565.148.167.795.163.062.514.543.501.596.77
EPS in Rs0.460.501.632.592.471.640.970.801.441.110.512.15
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales445516671606534533556656725838866912
Expenses337394513490456458509595650743783824
Operating Profit1081221581177874476175968388
OPM %24%24%24%19%15%14%8%9%10%11%10%10%
Other Income141734251210782222
Interest64131615771313141210
Depreciation192238404345444749525759
Profit before tax971141418632322914331720
Tax %35%34%32%33%8%21%48%42%31%26%26%
Net Profit6475955730261510241216
EPS in Rs18.5021.9027.6918.249.508.140.381.663.047.683.865.21
Dividend Payout %26%27%19%27%13%18%0%60%33%33%34%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%10%10%11%
Compounded Profit Growth-15%-14%32%-11%
Stock Price CAGR-5%-5%-13%-17%
Return on Equity8%2%3%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital313131313131313131313131
Reserves220264335368398391408407408416434435
Borrowings58442214011812495100121138151145
Other Liabilities132133117266122126165138166189158223
Total Liabilities440471504805670673700677726774775834
Fixed Assets121138158320383394370378379366391413
CWIP1123442311101113354353
Investments26341745034281211716171
Other Assets292288169391231240320267318357323367
Total Assets440471504805670673700677726774775834
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5964829416490417334509494
Cash from Investing Activity-1420-159-69-104-416-55-32-51-90-63
Cash from Financing Activity-6-49-29-27-59-49-38-24-40-5-30
Net Cash Flow3934-106-1009-6-1-1-10
Free Cash Flow392248-1484562737-2-3414
CFO/OP102%89%96%86%162%130%54%169%53%73%109%119%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days74707392859411488981047691
Inventory Days5147546267891158191867575
Days Payable105941109287113139929510374106
Cash Conversion Cycle202417616669917794877661
Working Capital Days561226-402320534341401912
ROCE %27%32%32%33%19%9%7%2%4%5%8%5%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%75.00%
FIIs0.14%0.86%0.89%0.82%0.90%1.30%1.15%0.94%0.12%0.10%0.13%0.50%
DIIs2.62%1.90%1.87%2.05%1.73%1.79%2.28%2.08%2.21%2.13%2.12%3.65%
Public22.24%22.23%22.25%22.13%22.35%21.90%21.57%21.98%22.66%22.77%22.75%20.86%
No. of Shareholders22,83624,01124,10923,73027,50526,29325,23825,26326,59827,12926,97127,607

Fundamentals

Market Cap₹ 1,299 Cr.
Current Price₹ 412
Stock P/E79.2
Book Value₹ 148
ROCE4.58 %
ROE2.61 %
Dividend Yield0.32 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)11%
Compounded Profit Growth (TTM)-11%
Standalone figures.
Valuation
Market capRs 1,256 Cr
Enterprise valueRs 1,397 Cr
P/E (TTM)76.57x
Price to book2.69x
Price to sales1.38x
EV / EBITDA15.59x
EV / EBIT45.40x
EV / sales1.53x
Price to cash flow13.39x
Earnings yield1.31%
Dividend yield0.33%
P/E, 3-year average90.07x
P/B, 3-year average2.69x
P/E, 5-year average285.45x
P/B, 5-year average2.63x
Profitability
Operating margin (excl. other income)9.62%
Operating margin (incl. other income)9.83%
EBITDA margin9.82%
Pre-tax margin2.23%
Net profit margin1.80%
Net margin, latest quarter2.70%
ROE2.61%
ROCE4.58%
ROA1.51%
ROE, 3-year average3.35%
ROCE, 3-year average5.68%
ROA, 3-year average1.97%
ROE, 5-year average2.31%
ROCE, 5-year average4.56%
ROA, 5-year average1.37%
ROIC (approx.)3.72%
Tax rate26.41%
Other income / net worth0.38%
Growth
Sales growth (latest year)3.28%
Profit growth (latest year)-49.73%
Sales CAGR, 3 years9.68%
Sales CAGR, 5 years10.20%
Profit CAGR, 3 years32.36%
Profit CAGR, 5 years-13.86%
Sales growth QoQ11.02%
Profit growth QoQ325.79%
Sales growth YoY (latest quarter)22.55%
Profit growth YoY (latest quarter)169.72%
Per share
EPS (TTM)Rs 5.21
EPS (latest year)Rs 3.86
EPS (latest quarter)Rs 2.15
EPS, 3-year averageRs 4.86
EPS, 5-year averageRs 3.32
Book value per shareRs 148.25
Sales per shareRs 289.78
Cash flow per shareRs 29.80
Free cash flow per shareRs 4.45
Dividend per share (latest year)Rs 1.30
Dividend per share, 3-year averageRs 1.60
Dividend per share, 5-year averageRs 1.45
Dividends
Dividend payout33.66%
Dividend payout, 3-year average33.05%
Dividend payout, 5-year average39.81%
Efficiency
Asset turnover1.04x
Fixed asset turnover2.10x
Inventory turnover5.32x
Inventory days69 days
Debtor days91 days
Debtors turnover4.00x
Creditor days106 days
Cash conversion cycle61 days
Working capital days12 days
Leverage
Total debtRs 145 Cr
Cash and bankRs 3 Cr
Net debtRs 141 Cr
Debt to equity0.31x
Net debt / EBITDA1.58x
Interest coverage2.94x
Current ratio (filing 2026-03-31)1.10x
Quick ratio (filing 2026-03-31)0.74x
Trade payables (filing 2026-03-31)Rs 164 Cr
Owners' fund to total sources55.93%
Debt to assets17.34%
Cash flow
Cash from Operating Activity (latest year)Rs 94 Cr
Cash from Investing Activity (latest year)Rs -63 Cr
Cash from Financing Activity (latest year)Rs -30 Cr
Net Cash Flow (latest year)Rs 0 Cr
Free cash flow (latest year)Rs 14 Cr
FCFE (approx.: FCF + change in debt)Rs 7 Cr
Cash from ops / profit, 5 years6.63x
Sales to cash flow9.23x
Statement figures
Net sales (TTM)Rs 912 Cr
Net sales (latest year)Rs 866 Cr
Sales (latest quarter)Rs 251 Cr
Operating profit excl. other income (latest year)Rs 83 Cr
Operating profit (latest quarter)Rs 25 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 90 Cr
PBDT (TTM)Rs 79 Cr
Profit before tax (TTM)Rs 20 Cr
Tax (latest year)Rs 4 Cr
Net profit (TTM)Rs 16 Cr
Net profit (latest year)Rs 12 Cr
Net profit (latest quarter)Rs 7 Cr
Depreciation (TTM)Rs 59 Cr
Depreciation (latest quarter)Rs 16 Cr
Interest (TTM)Rs 10 Cr
Cost of goods sold (latest year)Rs 621 Cr
Total expenditure (latest year)Rs 783 Cr
Total income (latest year)Rs 868 Cr
Share capitalRs 31 Cr
ReservesRs 435 Cr
Shareholders' fundsRs 467 Cr
Total assetsRs 834 Cr
Net blockRs 413 Cr
Capital work in progressRs 53 Cr
InvestmentsRs 1 Cr
ReceivablesRs 216 Cr
InventoryRs 117 Cr
Other liabilitiesRs 223 Cr
Shares outstanding (crore)3.15
Ownership
Promoter holding75.00% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 76.6 is at the 66th percentile of its own 8.4-year range (median 44.6, low 8.3, high 370.7).
P/B 2.69 is at the 32th percentile (median 3.22).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodIGARASHINifty 50Difference
1 week-4.6%-2.8% -1.9 pts
1 month-5.2%-6.8% +1.5 pts
3 months-19.2%-7.6% -11.6 pts
6 months+45.9%+0.4% +45.5 pts
1 year-23.8%-9.9% -13.9 pts
2 years-40.6%-13.6% -27.1 pts
3 years-35.4%+14.2% -49.5 pts
5 years-22.5%+27.9% -50.4 pts
2 mutual fund schemes hold about ₹40 Cr. Over three months 2 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Kotak MNC Fund1.18%27 +7%
Kotak Transportation & Logistics Fund2.44%13 +7%

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹251 Cr +22.5% vs Jun 2025. Net profit ₹7 Cr +169.7%.
Against our estimate for Jun 2026: sales +10.5%, profit +109.6% beat. Our estimate for Sep 2026: sales Rs 265 Cr, profit Rs 5 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-07-31Dividend - Rs 1.30 Per Share
2025-07-31Dividend - Rs 2.50 Per Share
2024-07-31Dividend - Re 1 Per Share
2024-07-31Annual General Meeting
2023-07-31Annual General Meeting/Dividend - Re 1 Per Share
2022-08-01Annual General Meeting
2021-07-29 Annual General Meeting/Dividend - Rs 1.50 Per Share
2020-09-09 Annual General Meeting/Dividend - Rs 1.20 Per Share
2019-09-19 Annual General Meeting/Dividend - Rs 4.90 Per Share
2018-09-27 Bonus 25:2020.8899
2018-08-02 Annual General Meeting/Dividend- Rs 6 Per Share
2017-07-25 Annual General Meeting/Dividend - Rs 6.61 Per Share
2016-07-27 Annual General Meeting/Dividend-Rs 1.50 /-Per Share
2016-03-21 Interim Dividend - Rs 4/- Per Share (Purpose Revised)
2015-07-14Annual General Meeting/ Dividend - Rs 4.44/- Per Share
2014-07-17Annual General Meeting / Dividend Rs 2/- Per Share
2014-02-25Interim Dividend Re.1/- Per Share
2013-09-12Annual General Meeting
2012-09-06Annual General Meeting
2011-09-08Annual General Meeting
2010-09-08Annual General Meeting
2009-09-24Annual General Meeting
2008-09-18Agm/Dividend - 15%
2007-09-13Agm/Dividend-15%
2006-07-14Agm/Div-Rs.1.50 Per Sh
DateTypeWhat it says
2026-08-08Shareholder meetingVoting results.
2026-08-07UpdatesOutcome of 34th AGM.
2026-08-07Shareholder meetingProceedings of Annual General Meeting held on August 07, 2026
2026-08-06Board meeting outcomeIgarashi Motors India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-13Record DateRecord date for the purpose of Dividend is 31-Jul-2026.
2026-07-13Shareholder meetingNotice of Annual General Meeting to be held on August 07, 2026
2026-06-24Price movementSignificant movement in price has been observed in Igarashi Motors India Limited. The Exchange, in order to ensure that investors have latest relevant...
2026-06-24Price movementSignificant movement in price has been observed in Igarashi Motors India Limited. The Exchange, in order to ensure that investors have latest relevant...
2026-06-20General UpdatesCommunication sent to shareholders regarding deduction of tax at source on dividend for the FY 2025-26.
2026-06-20UpdatesIntimation to the holders of physical securities to furnish PAN, Shareholders KYCdetails and Nomination as per SEBI Circular & IEPF Awareness.
2026-05-21Board meeting outcomeIgarashi Motors India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-21Board meeting outcomeIgarashi Motors India Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-21DividendBoard of Directors at its meeting held on May 21, 2026, recommended Final Dividend of Rs. 1.30 per equity share.
2026-04-23Disclosure under SEBI TakeovIgarashi Electric Works (H.K) Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board o...
2026-04-23Disclosure under SEBI TakeovIgarashi Electric Works Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of Indi...
2026-04-02Disclosure under SEBI TakeovAgile Electric Sub Assembly Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange B...
2026-03-31Credit RatingCredit Rating
2026-02-11Board meeting outcomeBoard meeting held on February 11, 2026.
2026-02-11Board meeting outcomeIgarashi Motors India Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-14UpdatesMonthly Report on Special Window for Re-lodgement of Physical Shares Transfer.
2025-12-12UpdatesMonthly Report on Special Window for Re-lodgement of Physical Shares Transfer.
2025-11-26Volume querySignificant increase in volume has been observed in Igarashi Motors India Limited. The Exchange, in order to ensure that investors have latest relevan...
2025-11-26Volume querySignificant increase in volume has been observed in Igarashi Motors India Limited. The Exchange, in order to ensure that investors have latest relevan...
2025-11-07UpdatesMonthly Report on Special Window for Re-lodgement of Physical Shares Transfer.
2025-11-06Board meeting outcomeBoard meeting held on November 06, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Igarashi Motors India Ltd?

Igarashi Motors India Ltd (IGARASHI) has a market capitalisation of Rs 1,299 Cr. at the 2026-10-01 close.

What is the P/E ratio of Igarashi Motors India Ltd?

Igarashi Motors India Ltd trades at a P/E of 79.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Igarashi Motors India Ltd's latest quarterly results?

In the Jun 2026 quarter, Igarashi Motors India Ltd sales was Rs 251 Cr (+22.5% vs Jun 2025) and net profit was Rs 7 Cr.

What is the 52-week high and low of Igarashi Motors India Ltd?

The 52-week high is Rs 558.00 and the 52-week low is Rs 271.05.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03