Igarashi Motors

₹501.2 12.3 | 2.5%

WEBSITE BSE:517380 NSE : IGARSHI MOT 10 May, 16:01

Market Cap ₹1578 Cr.

Stock P/E 130.7

P/B 3.6

Current Price ₹501.2

Book Value ₹ 140.3

Face Value 10

52W High ₹691.7

Dividend Yield 0.2%

52W Low ₹ 395.2

Edit Ratio

Igarashi Motors Research see more...

Overview Inc. Year: 1992Industry: Electric Equipment

Igarashi Motors India Ltd is engaged within the enterprise of auto additives for automobiles. The Company offers electric micro automobiles and motor additives. The Company is engaged in the manufacturing and export of permanent magnet direct current (DC) automobiles for car sector in particular for passenger cars. The Company's DC automobiles include SQ-2846, SQ3264, SQ3657, SQ3365, SQ-3655, SQ-2848, SQ-3458, 3657 and 3665. The Company's products' primary application is Electronic Throttle Control (ETC). The Company has produced over 500 million DC vehicles for usage in actuator application/systems in passenger vehicles. The Company's holdinng company is Agile Electric Sub Assembly Pvt Ltd. The Company's ultimate holding employer is Igarashi Electric Works Ltd.

Igarashi Motors Share Price

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Igarashi Motors Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	159	111	138	143	174	167	173	168	178	174
Other Income	2	4	0	0	1	4	3	1	0	1
Total Income	161	115	138	143	174	171	176	169	179	174
Total Expenditure	140	109	130	135	158	152	151	152	161	156
Operating Profit	20	6	9	8	16	19	25	17	18	18
Interest	2	1	2	3	3	3	3	3	3	4
Depreciation	11	11	11	11	12	12	12	12	12	12
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	7	-6	-4	-6	1	4	10	2	2	2
Provision for Tax	2	-1	-1	-1	0	3	2	0	1	1
Profit After Tax	5	-4	-3	-4	0	1	8	1	1	2
Adjustments	0	0	-0	0	0	0	0	-0	0	0
Profit After Adjustments	5	-4	-3	-4	0	1	8	1	1	2
Adjusted Earnings Per Share	1.6	-1.4	-1	-1.3	0.1	0.4	2.4	0.5	0.5	0.5

Igarashi Motors Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	291	361	385	445	516	671	606	534	533	556	656	693
Other Income	2	10	17	14	17	34	25	12	10	7	8	5
Total Income	293	371	402	459	534	705	631	546	542	563	664	698
Total Expenditure	237	292	305	337	394	513	490	456	458	509	595	620
Operating Profit	56	79	98	123	139	192	142	90	84	54	69	78
Interest	14	13	7	6	4	13	16	15	7	7	13	13
Depreciation	13	16	19	19	22	38	40	43	45	44	47	48
Exceptional Income / Expenses	0	8	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	29	58	72	97	114	141	86	32	32	2	9	16
Provision for Tax	8	12	23	34	38	46	29	3	7	1	4	4
Profit After Tax	21	46	49	64	75	95	57	30	26	1	5	12
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	21	46	49	64	75	95	57	30	26	1	5	12
Adjusted Earnings Per Share	10.5	15.2	16	20.8	24.6	31.1	18.2	9.5	8.1	0.4	1.7	3.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	7%	-0%	8%
Operating Profit CAGR	28%	-8%	-19%	2%
PAT CAGR	400%	-45%	-45%	-13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	27%	0%	14%	12%
ROE Average	1%	3%	6%	15%
ROCE Average	4%	4%	8%	20%

Igarashi Motors Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	123	219	251	294	365	399	430	423	439	438	440
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	45	37	42	22	9	43	41	28	19	20	8
Other Non-Current Liabilities	10	10	9	9	15	16	20	24	21	37	45
Total Current Liabilities	93	95	141	145	115	346	180	197	221	181	233
Total Liabilities	271	362	442	471	504	805	670	673	700	677	726
Fixed Assets	122	126	121	138	158	320	383	394	370	378	379
Other Non-Current Assets	34	26	31	47	41	90	54	29	18	24	18
Total Current Assets	115	210	291	286	305	395	234	250	312	274	329
Total Assets	271	362	442	471	504	805	670	673	700	677	726

Igarashi Motors Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	3	2	37	75	109	4	2	3	3	12	6
Cash Flow from Operating Activities	59	45	59	64	82	94	164	90	41	73	34
Cash Flow from Investing Activities	-42	-30	-14	20	-159	-69	-104	-41	6	-55	-32
Cash Flow from Financing Activities	-18	20	-6	-49	-29	-27	-59	-49	-38	-24	-4
Net Cash Inflow / Outflow	-1	35	39	34	-106	-1	0	0	9	-6	-1
Closing Cash & Cash Equivalent	2	37	75	110	4	2	3	3	12	6	5

Igarashi Motors Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	10.46	15.16	15.99	20.79	24.61	31.12	18.24	9.5	8.14	0.38	1.66
CEPS(Rs)	17	20.28	22.13	26.99	31.8	43.51	30.93	23.02	22.34	14.51	16.65
DPS(Rs)	0	3	4.44	5.5	6.61	6	4.9	1.2	1.5	0	1
Book NAV/Share(Rs)	59.14	71.87	81.99	96.19	119.3	130.28	134.04	130.81	137.64	139.25	139.65
Core EBITDA Margin(%)	18.49	19	20.8	24.19	23.64	23.55	19.23	14.66	13.97	8.46	9.31
EBIT Margin(%)	14.74	19.63	20.37	23.15	22.68	22.94	16.77	8.88	7.38	1.71	3.35
Pre Tax Margin(%)	10.04	16.08	18.54	21.75	21.99	20.99	14.18	6.07	6.09	0.42	1.39
PAT Margin (%)	7.3	12.7	12.67	14.22	14.58	14.19	9.47	5.6	4.81	0.21	0.8
Cash Profit Margin (%)	11.87	17	17.53	18.45	18.85	19.84	16.06	13.56	13.19	8.21	7.98
ROA(%)	8.21	14.59	12.17	13.93	15.45	14.56	7.79	4.45	3.73	0.17	0.75
ROE(%)	19.41	27.18	20.84	23.34	22.84	24.94	13.99	7.18	6.06	0.27	1.19
ROCE(%)	22.34	30.26	27.19	32.03	32.29	33.27	18.71	8.78	7.42	1.82	4.18
Receivable days	74.03	66.07	69.97	67.05	66.85	74.08	93.61	95.22	104.18	98.99	86.28
Inventory Days	24.05	23.53	27.26	27.44	27.77	28.61	36.91	47.19	60.84	60.06	53
Payable days	89.23	70.75	85.98	97.47	96.42	91.56	93.01	103.17	124.91	106.51	86.42
PER(x)	5.16	11.24	24.24	26.44	32.59	25.96	19.18	19.56	34.07	949.88	209.12
Price/Book(x)	0.91	2.37	4.73	5.71	6.72	6.2	2.61	1.42	2.02	2.58	2.49
Dividend Yield(%)	0	1.76	1.15	1	0.82	0.74	1.4	0.65	0.54	0	0.29
EV/Net Sales(x)	0.63	1.47	2.99	3.6	4.78	3.73	2.01	1.29	1.78	2.16	1.8
EV/Core EBITDA(x)	3.23	6.74	11.82	13.06	17.73	13.06	8.59	7.69	11.27	22.29	17.11
Net Sales Growth(%)	8.29	24.23	6.6	15.56	16.06	29.97	-9.69	-11.84	-0.29	4.42	17.94
EBIT Growth(%)	29.7	65.44	10.41	31.62	13.04	31.45	-33.98	-53.3	-17.19	-75.77	130.4
PAT Growth(%)	29.1	116.07	6.09	30.01	18.35	26.47	-39.73	-47.91	-14.34	-95.36	340.14
EPS Growth(%)	28.95	44.92	5.52	30.01	18.35	26.47	-41.39	-47.91	-14.34	-95.35	340.12
Debt/Equity(x)	0.64	0.24	0.23	0.15	0.06	0.35	0.28	0.27	0.2	0.18	0.21
Current Ratio(x)	1.24	2.21	2.06	1.97	2.65	1.14	1.3	1.27	1.42	1.51	1.41
Quick Ratio(x)	1	1.95	1.83	1.73	2.27	0.96	0.96	0.88	0.96	1.06	0.95
Interest Cover(x)	3.14	5.52	11.12	16.55	32.99	11.74	6.46	3.16	5.73	1.32	1.71
Total Debt/Mcap(x)	0.71	0.1	0.05	0.03	0.01	0.06	0.11	0.19	0.1	0.07	0.08

Igarashi Motors Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	75	75	75	75	75	75	75	75	75	75
FII	0.14	0.11	0.11	0.1	0.08	0.08	0.24	0.14	0.86	0.89
DII	2.44	1.3	1.22	1.79	1.68	1.94	2.4	2.62	1.9	1.86
Public	22.42	23.58	23.67	23.11	23.24	22.98	22.36	22.24	22.24	22.25
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	2.36	2.36	2.36	2.36	2.36	2.36	2.36	2.36	2.36	2.36
FII	0	0	0	0	0	0	0.01	0	0.03	0.03
DII	0.08	0.04	0.04	0.06	0.05	0.06	0.08	0.08	0.06	0.06
Public	0.71	0.74	0.75	0.73	0.73	0.72	0.7	0.7	0.7	0.7
Others	0	0	0	0	0	0	0	0	0	0
Total	3.15	3.15	3.15	3.15	3.15	3.15	3.15	3.15	3.15	3.15

Pros

Debtor days have improved from 106.51 to 86.42days.
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 3% over the last 3 years.
Stock is trading at 3.6 times its book value.
The company has delivered a poor profit growth of -44% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Igarashi Motors

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Igarashi Motors Research see more...

Overview Inc. Year: 1992Industry: Electric Equipment

Igarashi Motors Share Price

Alert Data

Quarterly Price

Peer Comparison

Igarashi Motors Quarterly Results

Igarashi Motors Profit & Loss

Growth Rates

Igarashi Motors Balance Sheet

Igarashi Motors Cash Flow

Igarashi Motors Ratios

Igarashi Motors Shareholding Pattern

Igarashi Motors News

Top Unlisted Companies & InstaBuy Companies

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