On 6 Nov 2026, Igarashi Motors India was priced at ₹366.25, or 70.3× trailing earnings, against an industry P/E of 25.6×, and the shares are 32% below their 52-week high. Its ROCE of 4.8% is the lowest among the 7 largest Auto Parts peers, and sales and net profit grew 9.8% and 32% a year over 3 years. Its dividend yield is 0.3%, and debt is 0.33× equity. It is a small-cap company with a market cap of ₹1,153 Cr, ranked 71st of 140 Auto Parts companies by market cap; the shares fell 23% over the past year.
- ₹378.35
- ₹378.35
- ₹364.20
- ₹378.35
- 38.8K
Health check
- ReturnsBehind
−23.4% over a year, better than 0 of 7 peers.
- Price tagPricier
P/E 70.3 vs industry 25.6.
- GrowthSteady
Sales +9.8%, profit +32.4% a year over 3 years.
- ProfitabilityWeak
ROCE 4.8% vs peer median 15.6%.
- Balance sheetFair
Debt 0.33× equity, interest covered 3.1×, Piotroski 4 of 9.
- Red flags3 to check
Return on equity is low at 3.9%.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹1,153 Cr
- Small cap
- P/E
- 70.3
- Industry 25.6
- Price to book
- 2.41
- Peers 8.75
- Dividend yield
- 0.35%
- ROE
- 3.9%
- Peers 12.3%
- ROCE
- 4.8%
- Peers 15.6%
- Debt to equity
- 0.33
- Debt ₹156 Cr
- EPS (TTM)
- ₹5.21
- Face value ₹10
- OPM (TTM)
- 9.6%
- Net margin 1.9%
- Sales growth
- +22.5%
- Latest quarter vs a year ago
- Profit growth
- +169.6%
- Latest quarter vs a year ago
- Price to sales
- 1.22
- EV/EBITDA 14.7
Strengths and risks
Strengths
- Quarterly profit up 169.6% on a year ago.
- Quarterly sales up 22.5% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Return on equity is low at 3.9%.
- P/E of 70.3 against an industry P/E of 25.6.
- 32% below its 52-week high.
About Igarashi Motors India
Igarashi Motors India Limited manufactures and sells electric micro motors and motor components in India, the United States, Japan, Germany, Hong Kong, and internationally. The company operates through two segments, Automotive and Non-Automotive. Its products include ceiling fans; and electrical equipment, general purpose, and special purpose machinery and equipment. The company also offers engine air management, electric parking brake, park lock and gear…
- Headquarters
- Chennai
- Employees
- 774
- Sector
- Consumer Cyclical
- ISIN
- INE188B01013
- Website
- igarashimotors.com
Price range
- Avg volume (3M)
- 2.7 L
- 1-year return
- minus 23.4%
- From 52-week high
- minus 31.9%
Peers · Auto Parts
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSONSamvardhana Motherson International | 158.55 | minus 5.62% | 1,68,549 | 35.4 | 3.70 | 11.5% | 10.2% | 9.6% | 17.1% | 37.2% | 0.32% | plus 60.8% |
| BOSCHLTDBosch | 50,700.00 | minus 3.38% | 1,49,545 | 54.2 | 19.50 | 24.2% | 19.4% | 13.4% | 10.3% | 24.8% | 0.53% | plus 38.6% |
| UNOMINDAUNO Minda | 1,326.00 | minus 0.67% | 76,572 | 58.1 | 11.21 | 20.5% | 19.1% | 11.0% | 20.5% | 22.3% | 0.22% | plus 6.6% |
| SONACOMSSona BLW Precision Forgings | 900.00 | minus 1.67% | 56,266 | 75.0 | 8.75 | 13.2% | 11.9% | 23.2% | 18.8% | 17.4% | 0.40% | plus 89.2% |
| SCHAEFFLERSchaeffler India | 3,519.70 | minus 1.17% | 55,014 | 41.9 | 8.97 | 25.7% | 20.2% | 17.9% | 12.3% | 9.4% | 0.99% | minus 13.9% |
| MRFMRF | 1,25,295.00 | minus 0.50% | 53,139 | 22.0 | 2.53 | 15.6% | 12.3% | 15.1% | 10.6% | 46.7% | 0.19% | minus 20.3% |
| BALKRISINDBalkrishna Industries | 2,410.00 | plus 0.34% | 46,589 | 32.7 | 4.25 | 13.8% | 11.6% | 21.1% | 3.6% | 5.5% | 0.71% | plus 1.6% |
| IGARASHIIgarashi Motors India | 366.25 | minus 3.20% | 1,153 | 70.3 | 2.41 | 4.8% | 2.6% | 9.6% | 9.8% | 32.4% | 0.35% | minus 23.4% |
| Median of 7 peers | – | −1.17% | 56,266 | 41.9 | 8.75 | 15.6% | 12.3% | 15.1% | 12.3% | 22.3% | 0.40% | 6.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 205 | 219 | 216 | 226 | 251 | |
| 185 | 196 | 196 | 207 | 226 | |
| 19.6 | 23.5 | 20.4 | 19.3 | 24.5 | |
| 9.6% | 10.7% | 9.4% | 8.5% | 9.8% | |
| 0.8 | 0.1 | 0.1 | 0.8 | 1 | |
| 3.2 | 3.3 | 2.1 | 2.5 | 2.6 | |
| 13.9 | 14.2 | 14.2 | 14.8 | 15.7 | |
| 3.4 | 6.2 | 4.2 | 2.8 | 7.2 | |
| 25.4% | 26.5% | 17.0% | 42.1% | 5.5% | |
| 2.5 | 4.5 | 3.5 | 1.6 | 6.8 | |
| 0.80 | 1.44 | 1.11 | 0.51 | 2.15 |
Profit & loss
- Sales CAGR 3Y
- +9.8%
- Profit CAGR 3Y
- +32.4%
- EPS CAGR 3Y
- +32.5%
- ROE
- 3.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 636 | 706 | 818 | 843 | |
| – | +11.1% | +15.7% | +3.1% | |
| 570 | 631 | 720 | 754 | |
| 65.5 | 75.3 | 97.5 | 89 | |
| 10.3% | 10.7% | 11.9% | 10.6% | |
| −8.5 | −3.4 | −4.6 | −8.4 | |
| 7.8 | 10.2 | 10.4 | 7.9 | |
| 47.2 | 49.1 | 51.5 | 57 | |
| 7 | 1.3 | 1.6 | 0.7 | |
| 9.1 | 13.9 | 32.5 | 16.5 | |
| 42.5% | 31.0% | 25.6% | 26.4% | |
| 5.2 | 9.6 | 24.2 | 12.1 | |
| – | +82.8% | +152.5% | minus 49.7% | |
| 1.66 | 3.04 | 7.68 | 3.86 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 31.5 | 31.5 | 31.5 | 31.5 | |
| 408 | 416 | 434 | 435 | |
| 121 | 138 | 151 | 145 | |
| 166 | 189 | 158 | 223 | |
| 726 | 774 | 775 | 834 | |
| 382 | 396 | 429 | 457 | |
| 10.1 | 35.7 | 42.7 | 50.4 | |
| 0.4 | 0.4 | 0.6 | 1.3 | |
| 21.9 | 19.7 | 19.6 | 3.1 | |
| 312 | 322 | 283 | 323 | |
| 726 | 774 | 775 | 834 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 34 | 50.3 | 93.8 | 93.8 | |
| −31.6 | −51.2 | −90.1 | −63.5 | |
| −3.6 | 0.1 | −5.1 | −30.1 | |
| −1.1 | −0.7 | −1.3 | 0.2 | |
| −36 | −53.7 | −89.9 | −79.8 | |
| −2 | −3.4 | 3.9 | 14 | |
| – | −3.1 | −3.1 | −7.8 |
Shareholding pattern
- Promoters75.00%
- Public25.00%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 75.00% | 25.00% | 0.00 | |
| 30 Jun 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Mar 2026 | 75.00% | 25.00% | 0.00 | |
| 31 Dec 2025 | 75.00% | 25.00% | 0.00 | |
| 30 Sep 2025 | 75.00% | 25.00% | – |
Major shareholders
Filings & events
News
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