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Igarashi Motors India Ltd (IGARASHI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517380 NSE: IGARASHI Electric Equipment | Small Cap | Igarashi MotorsIndia Share Price

₹481.30 0.05 (0.01%)

As on 24-Jun'26 16:59

Igarashi Motors India Ltd (IGARASHI)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 517380 NSE: IGARASHI Electric Equipment | Small Cap | Igarashi MotorsIndia Share Price

₹481.30 0.05 (0.01%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,515 Cr.
Current Price
₹481.3
52-Week Low / High
₹272 / 665
TTM EPS
₹3.9
TTM Sales
₹866 Cr.
Book Value per Share
₹148.3
P/E Ratio
124.71
Higher than its 5-year historical median
Industry PE
56.6
Price to Book (P/B)
3.25
In line with its 5-year historical median
Price to Sales (P/S)
1.75
Lower than its 5-year historical median
EV/EBITDA
19.41
Lower than its 5-year historical median
Dividend Yield
0.52%
Profitability Efficiency
Return on Equity (ROE)
5.30%
Underperforms industry median
Return on Capital Employed (ROCE)
8.05%
Underperforms industry median
Return on Assets (ROA)
3.12%
Operating Profit Margin
11.6%
Net Profit Margin
2.88%
Gross Profit Margin
10%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
15.64%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
28.11%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
152.56%
Asset Quality
Promoter Holding
75.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹435 Cr.
Equity
₹31.5 Cr.
Face Value
₹10
All Time Low / High
₹5.00 / 1125.00

Igarashi Motors India stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Somewhat Undervalued

Price Trend

Strong
Q.1 Is Igarashi Motors India Ltd a good quality company?
Igarashi Motors India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Igarashi Motors India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Igarashi Motors India Ltd vs industry peers?
Igarashi Motors India Ltd revenue CAGR is 9.43%, compared to the industry median CAGR of 13.01%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Igarashi Motors India Ltd?
Promoters hold 75.00% of the Igarashi Motors India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Igarashi Motors India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -5% based on the current price.

10 Year X-Ray :

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

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 32%32.3%33.3%18.7%8.8%7.4%1.8%4.2%5%8.1%-
Value Creation
Index
1.31.31.40.3-0.4-0.5-0.9-0.7-0.6-0.4-

Growth Parameters

Sales 445516671606534533556656725838866
Sales YoY Gr.-16.1%30%-9.7%-11.8%-0.3%4.4%18%10.5%15.6%-
Adj EPS 20.823.63018.69.37.6-0.61.33.17.93.9
YoY Gr.-13.7%26.8%-38%-50%-17.9%-107.2%NA143%154.3%-
BVPS (₹) 96.2119.3130.3134130.8137.6139.3139.7142147.9148.3
Adj Net
Profit
63.672.391.758.529.224-1.749.824.912
Cash Flow from Ops. 63.782.194.416490.340.772.83450.393.8-
Debt/CF from Ops. 0.70.31.50.71.22.21.12.72.21.4-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 7.3%9.4%14.7%15.6%
Adj EPS -10.2%-3.2%NA154.3%
BVPS4.9%2.5%2%4.2%
Share Price -2.9% -0.1% -1.1% 0.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
23.321.92414.16.95.6-0.40.92.25.52.6
Op. Profit
Mgn %
24.423.623.619.514.7148.51010.411.69.6
Net Profit
Mgn %
14.31413.79.75.54.5-0.30.61.431.4
Debt to
Equity
0.20.10.40.30.30.20.20.20.30.30
Working Cap
Days
14911412115415918618615916714670
Cash Conv.
Cycle
212239687582857985737

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales445516671606534533556656725838
Operating Expenses + 337394513490456458509595650743
Manufacturing Costs28426259616262636681
Material Costs256300361335313320368436483541
Employee Cost 32275256524649596475
Other Costs 21263839303030383745
Operating Profit 108122158117787447617596
Operating Profit Margin (%) 24.3%23.6%23.5%19.2%14.7%14.0%8.5%9.3%10.3%11.4%
Other Income + 1417342512107822
Exceptional Items 0000000000
Interest 6413161577131314
Depreciation 19223840434544474952
Profit Before Tax 97114141863232291433
Tax 34384629371448
Profit After Tax 647595573026151024
PAT Margin (%) 14.3%14.6%14.2%9.5%5.6%4.8%0.2%0.8%1.3%2.9%
Adjusted EPS (₹)20.824.631.118.29.58.10.41.73.07.7
Dividend Payout Ratio (%)26.50%26.90%19.30%26.90%12.60%18.40%0%60.10%32.90%32.60%

Valuation of Igarashi MotorsIndia - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 294365399422412433438440447466
Share Capital 31313131313131313131
Reserves 264335368390380402407408416434
Debt +2291055875686679103120
Long Term Debt229434128192081910
Short Term Debt0062184649457184110
Minority Interest0000000000
Trade Payables689091809712293114137110
Others Liabilities 8640210111897680948780
Total Liabilities 471504805670673700677726774775

Fixed Assets

Net Fixed Assets +138158320383394370378379366391
Gross Block256180390485539555608636669736
Accumulated Depreciation1182270103145186230257302345
CWIP 1234423111011133543
Investments 34174503428121171617
Inventories344461627610182109113111
Trade Receivables86103169142137167135176207173
Cash Equivalents 1261010633137553
Others Assets 42125424233844283136
Total Assets 471504805670673700677726774775

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 648294164904173345094
PBT 97114141863232291433
Adjustment 10144159614949576164
Changes in Working Capital -10-10-46449-4128-34-208
Tax Paid -33-35-41-25-120-72-4-11
Cash Flow From Investing Activity + 20-159-69-104-416-55-32-51-90
Capex -42-34-108-80-34-14-36-36-54-84
Net Investments -8-13135109-720-1843-0
Others 6974-133000-00-6
Cash Flow From Financing Activity + -49-29-27-59-49-38-24-40-5
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -15000000000
Interest Paid -3-2-12-15-14-7-6-5-9-11
Dividend Paid -26-5-24-22-18-4-50-3-3
Others -5-229-22-17-28-131129
Net Cash Flow 34-106-1009-6-1-1-1

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)23.3422.8424.9413.997.186.060.271.192.165.3
ROCE (%)32.0332.2933.2718.718.787.421.824.184.988.05
Asset Turnover Ratio0.981.061.030.820.80.780.810.940.971.08
PAT to CFO Conversion(x)11.090.992.8831.58736.853.92
Working Capital Days
Receivable Days67.1066.9074.1093.6095.20104.209986.3096.4082.90
Inventory Days27.4027.8028.6036.9047.2060.8060.105355.8048.80
Payable Days97.5096.4091.6093103.20124.90106.5086.4094.5083.10

Management X-Ray

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 (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Igarashi Motors India Ltd FAQs

The current trading price of Igarashi MotorsIndia on 24-Jun-2026 16:59 is ₹481.3.

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 23-Jun-2026 the market cap of Igarashi MotorsIndia stood at ₹1,514.9 Cr

The latest P/E ratio of Igarashi MotorsIndia as of 23-Jun-2026 is 124.7.

The latest P/B ratio of Igarashi MotorsIndia as of 23-Jun-2026 is 3.25.

The 52-week high of Igarashi MotorsIndia is ₹665.5 and the 52-week low is ₹272.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Igarashi MotorsIndia is ₹866 ( Cr.) .

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

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

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

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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