Igarashi Motors India Ltd
Igarashi Motors India Ltd is engaged in the production and export of Permanent Magnet DC Motors for the Automotive Sector especially for the passenger vehicle sector[1]
It was incorporated as CG Igarashi Motors Limited in 1992 as a JV between Crompton Greaves Ltd(India), Igarashi Electric Works Ltd, Japan, and International Components Corporation, USA.
Over a period, IEWL consolidated its stake in the Company by acquiring a stake of exited JV Partners. [2]
- Market Cap ₹ 1,453 Cr.
- Current Price ₹ 462
- High / Low ₹ 488 / 250
- Stock P/E 277
- Book Value ₹ 140
- Dividend Yield 0.00 %
- ROCE 3.87 %
- ROE 1.19 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 3.30 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -0.45% over past five years.
- Company has a low return on equity of 2.45% over last 3 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.
Peer comparison
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
269 | 291 | 361 | 385 | 445 | 516 | 671 | 606 | 534 | 533 | 556 | 656 | |
225 | 237 | 292 | 305 | 337 | 394 | 513 | 490 | 456 | 458 | 509 | 596 | |
Operating Profit | 43 | 54 | 69 | 80 | 108 | 122 | 158 | 117 | 78 | 74 | 47 | 60 |
OPM % | 16% | 19% | 19% | 21% | 24% | 24% | 24% | 19% | 15% | 14% | 8% | 9% |
1 | 2 | 18 | 17 | 14 | 17 | 34 | 25 | 12 | 10 | 7 | 8 | |
Interest | 15 | 14 | 13 | 7 | 6 | 4 | 13 | 16 | 15 | 7 | 7 | 12 |
Depreciation | 11 | 13 | 16 | 19 | 19 | 22 | 38 | 40 | 43 | 45 | 44 | 47 |
Profit before tax | 18 | 29 | 58 | 72 | 97 | 114 | 141 | 86 | 32 | 32 | 2 | 9 |
Tax % | 7% | 27% | 21% | 32% | 35% | 34% | 32% | 33% | 8% | 21% | 48% | 42% |
Net Profit | 17 | 21 | 46 | 49 | 64 | 75 | 95 | 57 | 30 | 26 | 1 | 5 |
EPS in Rs | 7.22 | 9.33 | 13.49 | 14.23 | 18.50 | 21.90 | 27.69 | 18.24 | 9.50 | 8.14 | 0.38 | 1.66 |
Dividend Payout % | 0% | 0% | 20% | 28% | 26% | 27% | 19% | 27% | 13% | 18% | 0% | 60% |
Compounded Sales Growth | |
---|---|
10 Years: | 8% |
5 Years: | 0% |
3 Years: | 7% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | -13% |
5 Years: | -44% |
3 Years: | -44% |
TTM: | 340% |
Stock Price CAGR | |
---|---|
10 Years: | 24% |
5 Years: | -7% |
3 Years: | 25% |
1 Year: | 59% |
Return on Equity | |
---|---|
10 Years: | 12% |
5 Years: | 6% |
3 Years: | 2% |
Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
20 | 20 | 30 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | |
Reserves | 81 | 102 | 189 | 220 | 264 | 335 | 368 | 398 | 391 | 408 | 407 | 408 |
84 | 78 | 51 | 58 | 44 | 22 | 140 | 118 | 124 | 95 | 100 | 121 | |
63 | 70 | 89 | 132 | 133 | 117 | 266 | 122 | 126 | 165 | 138 | 166 | |
Total Liabilities | 248 | 271 | 360 | 440 | 471 | 504 | 805 | 670 | 673 | 700 | 677 | 726 |
106 | 122 | 126 | 121 | 138 | 158 | 320 | 383 | 394 | 370 | 378 | 381 | |
CWIP | 6 | 3 | 1 | 1 | 12 | 3 | 44 | 23 | 11 | 10 | 11 | 10 |
Investments | 29 | 29 | 21 | 26 | 34 | 174 | 50 | 34 | 28 | 1 | 21 | 17 |
107 | 117 | 212 | 292 | 288 | 169 | 391 | 231 | 240 | 320 | 267 | 318 | |
Total Assets | 248 | 271 | 360 | 440 | 471 | 504 | 805 | 670 | 673 | 700 | 677 | 726 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
24 | 59 | 45 | 59 | 64 | 82 | 94 | 164 | 90 | 41 | 73 | 34 | |
-37 | -42 | -30 | -14 | 20 | -159 | -69 | -104 | -41 | 6 | -55 | -32 | |
13 | -18 | 20 | -6 | -49 | -29 | -27 | -59 | -49 | -38 | -24 | -4 | |
Net Cash Flow | 0 | -1 | 35 | 39 | 34 | -106 | -1 | 0 | 0 | 9 | -6 | -1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 77 | 78 | 70 | 74 | 70 | 73 | 92 | 85 | 94 | 114 | 88 | 98 |
Inventory Days | 33 | 44 | 38 | 51 | 47 | 54 | 62 | 67 | 89 | 115 | 81 | 91 |
Days Payable | 74 | 88 | 67 | 105 | 94 | 110 | 92 | 87 | 113 | 139 | 92 | 95 |
Cash Conversion Cycle | 37 | 33 | 42 | 20 | 24 | 17 | 61 | 66 | 69 | 91 | 77 | 94 |
Working Capital Days | 44 | 48 | 79 | 56 | 12 | 26 | -6 | 34 | 56 | 104 | 85 | 99 |
ROCE % | 20% | 22% | 27% | 27% | 32% | 32% | 33% | 19% | 9% | 7% | 2% | 4% |
Documents
Announcements
- Intimation To The Holders Of Physical Securities To Furnish PAN, Shareholders KYC Details And Nomination As Per SEBI Circular 31 May
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Compliances-Reg.24(A)-Annual Secretarial Compliance
25 May - Circular No. CIR/CFD/CMD1/27/2019 dated 8th February, 2019; we are submitting herewith the Annual Secretarial Compliance Report certificate from Mr. C Prabhakar, Partner (CP No. 11033, …
- Corporate Action For Transfer Of Shares To IEPF Authority Ref: Our Letter No. IMIL/IEPF/I2015-16/NP/0123 January 27, 2023 25 May
- Disclosure Of Related Party Transactions For The Second Half Year Ended March 31, 2023-Reg. Ref: Our Letter Ref No. IMIL/SE/Q4/FR/0523 Dated May 25, 2023; Regulation 23(9) Of The SEBI (LODR) Regulations, 2015 25 May
- Board Meeting Outcome for Outcome Of Board Meeting Ref: Our Letter No. IMIL/SE/BMQ4/0523 Dated May 13, 2023 25 May
Annual reports
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2010
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Financial Year 2009
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Concalls
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Aug 2017TranscriptPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
Products
The Co. is primarily engaged in the production and export of Permanent Magnet DC Motors for Powertrain and seat applications and motor accessories for the automotive sector. [1] To de-risk from the automotive applications, it launched BLDC motors for application in the consumer durable segment like ceiling and pedestal fans given the long-standing association of its top management with the sector. The BLDC motors have varied applications and the company has a capacity of 1 million units, scalable to 2.7 Mn units. [2]