Igarashi Motors India Ltd - Stock Valuation and Financial Performance

BSE: 517380 | NSE: IGARASHI | Electric Equipment | Small Cap

Igarashi Motors Share Price

426.60 2.40 0.57%
as on 19-Mar'24 10:13

DeciZen - make an informed investing decision on Igarashi Motors

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Igarashi Motors India stock performance -

mw4me loader
P/E Ratio (SA):
110.62
Market Cap:
1,335.2 Cr.
52-wk low:
330
52-wk high:
691.7

Is Igarashi Motors India Ltd an attractive stock to invest in?

1. Is Igarashi Motors India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Igarashi Motors India Ltd is a average quality company.

2. Is Igarashi Motors India Ltd undervalued or overvalued?

The key valuation ratios of Igarashi Motors India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Igarashi Motors India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Igarashi Motors India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Igarashi Motors:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Igarashi Motors India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 20.9%17.8%21%20.6%21.8%12.8%7.4%5.4%0.6%2.5%-
Value Creation
Index
0.50.30.50.50.6-0.1-0.5-0.6-1.0-0.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 361385445516671606534533556656693
Sales YoY Gr.-6.6%15.6%16.1%30%-9.7%-11.8%-0.3%4.4%18%-
Adj EPS 13.215.220.823.63018.69.37.6-0.61.33.8
YoY Gr.-15%36.6%13.7%26.8%-38%-50%-17.9%-107.2%NA-
BVPS (₹) 71.98296.2119.3130.3134130.8137.6139.3139.7140.3
Adj Net
Profit
40.346.663.672.391.758.529.224-1.7412
Cash Flow from Ops. 45.159.163.782.194.416490.340.772.834-
Debt/CF from Ops. 1.110.70.31.50.71.22.21.12.7-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.9%-0.5%7.1%18%
Adj EPS -22.9%-46.8%-48.4%NA
BVPS7.7%1.4%2.2%0.3%
Share Price 10.1% 2.6% 13.5% 21%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
23.619.823.321.92414.16.95.6-0.40.92.7
Op. Profit
Mgn %
19.120.924.423.623.619.514.7148.51010.5
Net Profit
Mgn %
11.212.114.31413.79.75.54.5-0.30.61.7
Debt to
Equity
0.20.20.20.10.40.30.30.20.20.2-
Working Cap
Days
14317814911412115415918618615984
Cash Conv.
Cycle
3532212239687582857923

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 2.70%

Sales growth is good in last 4 quarters at 12.56%

Sales growth has been subdued in last 3 years 7.09%

Net Profit has been subdued in last 3 years -48.35%

Latest Financials - Igarashi Motors India Ltd.

Standalone Consolidated
TTM EPS (₹) 3.8 0.3
TTM Sales (₹ Cr.) 693 176
BVPS (₹.) 140.3 0
Reserves (₹ Cr.) 410 57
P/BV 3.02 0.00
PE 110.62 0.00
From the Market
52 Week Low / High (₹) 329.95 / 691.65
All Time Low / High (₹) 5.00 / 1125.00
Market Cap (₹ Cr.) 1,335
Equity (₹ Cr.) 31.5
Face Value (₹) 10
Industry PE 77.1

Management X-Ray of Igarashi Motors:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Igarashi Motors

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales361385445516671606534533556656
Operating Expenses 292305337394513490456458509595
Manufacturing Costs23252842625961626263
Material Costs226236256300361335313320368436
Employee Cost 26283227525652464959
Other Costs 18162126383930303038
Operating Profit 698010812215811778744761
Operating Profit Margin (%) 19.1%20.9%24.3%23.6%23.5%19.2%14.7%14.0%8.5%9.3%
Other Income 101714173425121078
Interest 137641316157713
Depreciation 16191922384043454447
Exceptional Items 8000000000
Profit Before Tax 58729711414186323229
Tax 1223343846293714
Profit After Tax 464964759557302615
PAT Margin (%) 12.8%12.7%14.3%14.6%14.2%9.5%5.6%4.8%0.2%0.8%
Adjusted EPS (₹)15.216.020.824.631.118.29.58.10.41.7
Dividend Payout Ratio (%)20%28%26%27%19%27%13%18%0%60%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 219251294365399422412433438440
Share Capital 30313131313131313131
Reserves 188220264335368390380402407408
Minority Interest0000000000
Debt40422291055875686679
Long Term Debt374222943412819208
Short Term Debt3000621846494571
Trade Payables4368689091809712293114
Others Liabilities 6082864021011189768094
Total Liabilities 362442471504805670673700677726

Fixed Assets

Gross Block207223256180390485539555608636
Accumulated Depreciation821021182270103145186230257
Net Fixed Assets126121138158320383394370378379
CWIP 11123442311101113
Investments 21263417450342812117
Inventories2533344461627610182109
Trade Receivables707986103169142137167135176
Cash Equivalents 409112610106331375
Others Assets79914212542423384428
Total Assets 362442471504805670673700677726

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 455964829416490417334
PBT 50729711414186323229
Adjustment 20131014415961494957
Changes in Working Capital -10-2-10-10-46449-4128-34
Tax Paid -15-23-33-35-41-25-120-72
Cash Flow From Investing Activity -30-1420-159-69-104-416-55-32
Capex -14-20-42-34-108-80-34-14-36-36
Net Investments 16-5-8-13135109-720-184
Others -32116974-1330000
Cash Flow From Financing Activity 20-6-49-29-27-59-49-38-24-4
Net Proceeds from Shares 3100000000
Net Proceeds from Borrowing -910-150000000
Interest Paid -8-3-3-2-12-15-14-7-6-5
Dividend Paid -3-6-26-5-24-22-18-4-50
Others 37-7-5-229-22-17-28-131
Net Cash Flow 353934-106-1009-6-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)27.1820.8423.3422.8424.9413.997.186.060.271.19
ROCE (%)30.2627.1932.0332.2933.2718.718.787.421.824.18
Asset Turnover Ratio1.150.960.981.061.030.820.80.780.810.94
PAT to CFO Conversion(x)0.981.211.090.992.8831.58736.8
Working Capital Days
Receivable Days667067677494951049986
Inventory Days24272728293747616053
Payable Days71869796929310312510786

Igarashi Motors India Ltd Stock News

Igarashi Motors India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Igarashi Motors on 19-Mar-2024 10:13 is ₹426.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 19-Mar-2024 10:13 the market cap of Igarashi Motors stood at ₹1,335.2.
The latest P/E ratio of Igarashi Motors as of 19-Mar-2024 10:13 is 110.6.
The latest P/B ratio of Igarashi Motors as of 19-Mar-2024 10:13 is 3.02.
The 52-week high of Igarashi Motors is ₹691.6 and the 52-week low is ₹329.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Igarashi Motors is ₹693.4 ( Cr.) .

About Igarashi Motors India Ltd

The history of Igarashi Motors started in 1946 by Eiji Igarashi who established a private company in Kawasaki, for the production and sales of D.C. motors for toys and model ships. Since then, it has been developing and manufacturing small D.C. motors, for more than fifty years. In India the company was established in 1993 in a joint venture with Crompton Greaves for development, production and sales of DC motors, DC motors with accessory, and assembly service like end cap/case/armature.

To meet market needs, a holistic approach to the small DC motor is necessary. This requires a close involvement in everything from design and development of the parts to the production process.

They have been developing and manufacturing small DC motors for more than fifty years and have done pioneering work in product development, improvement and testing for the creation of new manufacturing technologies.

Their design/development/technical departments in Japan, China, and India will continue to dedicate to providing better technology and realizing the creation of highly efficient small DC motors.

Motors produced by Igarashi Motor Sales are designed in accordance with ISO 9002 regulations to ensure quality products with optimal functionality. Before, during, and after production, our motors are subject to intense quality controls and testing methods to ensure reliability. Design FMEA and Process FMEA are extensively used to secure efficiency and dependability.

Product range of the company includes:

  • DC Motors
  • Gear Motors
  • High Voltage Motors
  • Armatures

Achievements/ recognition:

  • Certification of ISO9001/TS16949.
  • Certification of ISO14001
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