Igarashi Motors India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹256.95Overvalued by 40.52%vs CMP ₹432.00

P/E (82.9) × ROE (2.6%) × BV (₹148.00) × DY (0.30%)

₹215.26Overvalued by 50.17%vs CMP ₹432.00

MoS: -100.7% (Negative)Confidence: 58/100 (Moderate)Models: 2 Fair, 7 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹417.82	24%	Fair (-3.3%)
Graham Number	Earnings	₹119.94	17%	Over (-72.2%)
DCF	Cash Flow	₹63.09	11%	Over (-85.4%)
Net Asset Value	Assets	₹148.13	8%	Over (-65.7%)
EV/EBITDA	Enterprise	₹424.37	10%	Fair (-1.8%)
Dividend Discount	Dividends	₹82.50	10%	Over (-80.9%)
Earnings Yield	Earnings	₹43.20	8%	Over (-90%)
ROCE Capital	Returns	₹130.45	8%	Over (-69.8%)
Revenue Multiple	Revenue	₹266.38	6%	Over (-38.3%)
Consensus (9 models)		₹215.26	100%	Overvalued

Key Drivers: EPS CAGR 62.6% lifts DCF — verify sustainability. | ROE 2.6% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 62.6%

*Investments are subject to market risks

Analysis summary

Data coverage: Price-data record updated 24 September 2026, 2:35 am +05:30. Annual results through Mar 2025; quarterly results through Dec 2025; cash flow through Mar 2026. Each section can have a different reporting period. The share price is not live.

Valuation in context

Operating performance

Revenue for Mar 2025 was ₹838.00 Cr, versus ₹725.00 Cr in Mar 2024 (15.6% year on year). Net profit for Mar 2025 was ₹24.00 Cr, versus ₹10.00 Cr in Mar 2024 (140.0% year on year). These are the latest annual periods stored on this page; check the quarterly table separately for more recent developments.

Cash generation

For the same Mar 2025 period, operating cash flow was ₹94.00 Cr against net profit of ₹24.00 Cr. Cash flow covered 3.92 times reported profit. Cash generation supports the reported profit for this period; check whether this continues over several years.

Balance-sheet check

Reported borrowings were ₹145.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How to use the valuation and peer comparisons

The Intrinsic Value panel combines the available model estimates using the displayed weights. Earnings, cash-flow, dividend and asset-based methods can give very different answers. The displayed 12% cost of equity and 4% terminal growth assumptions apply where relevant; historical EPS growth is not a promise of future growth. Use the individual values and their spread to judge sensitivity.

The peer group follows the stored industry classification and may include different business models. Compare reporting periods, leverage and recurring earnings before interpreting a valuation gap. For banks and other financial businesses, capital adequacy and asset quality can be more informative than industrial-company cash-flow ratios.

Sources: Company data source. Check the company filings linked by the source for the reporting basis and exceptional items.

Automatically generated interpretation of the stored financial data, not a separately researched analyst opinion. Missing data is not evidence of poor performance. New filings become available here after the existing data refresh process captures them.

Investment Snapshot

Igarashi Motors India Ltd scores 61/100 (Average)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health66/100 · Strong

ROCE 4.6% WeakROE 2.6% WeakD/E 0.27 Low debtInterest Coverage 7.3x StrongProfitable 5/5 available years Reported history

Smart Money75/100 · Strong

FII holding up 0.38% (6mo) Slight increaseDII holding up 1.44% MF buyingPromoter holding at 75.0% Stable

Earnings Quality85/100 · Strong

CFO/NP ratio: 4.56x Cash-backed earningsOPM stable around 11% SteadyWorking capital: 19 days (improving) Efficient

Quarterly Momentum40/100 · Moderate

Revenue (4Q): -3% YoY FlatProfit (4Q): -48% YoY Declining

Industry Rank30/100 · Weak

P/E 82.9 vs industry 63.3 In-lineROCE 4.6% vs industry 16.1% Below peersROE 2.6% vs industry 14.8% Below peers3Y sales CAGR: 15% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores use stored reporting periods and are screening indicators, not investment recommendations. Missing health ratios are excluded. Broad industry groups and financial-sector accounting can limit comparability.

Share Price and Basic Stock Data

Last Updated: September 24, 2026, 2:35 am

Market Cap	1,359 Cr.
Current Price	432
Intrinsic Value	₹215.26
High / Low	558/271
Stock P/E	82.9
Book Value	148
Dividend Yield	0.30 %
ROCE	4.58 %
ROE	2.61 %
Face Value	10.0
PEG Ratio	1.32

Understand these figures: how to read the P/E ratio, ROE versus earnings per share, and calculate intrinsic value.

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Igarashi Motors India Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Igarashi Motors India Ltd	1,359 Cr.	432	558/271	82.9	148	0.30 %	4.58 %	2.61 %	10.0
Modison Ltd	1,534 Cr.	473	546/114	14.3	84.6	1.16 %	31.0 %	32.1 %	1.00
Servotech Power Systems Ltd	1,619 Cr.	71.7	142/57.5	40.7	11.8	0.03 %	15.1 %	14.1 %	1.00
Salzer Electronics Ltd	971 Cr.	549	953/489	22.0	327	0.46 %	11.2 %	9.55 %	10.0
Swelect Energy Systems Ltd	882 Cr.	582	979/480	20.5	608	0.60 %	8.00 %	5.34 %	10.0
Industry Average	15,550.70 Cr	766.35		63.29	110.21	0.22%	16.13%	14.81%	6.47

All Competitor Stocks of Igarashi Motors India Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	166.98	172.93	168.25	178.44	173.75	204.60	222.07	216.07	210.80	189.47	204.71	219.14	216.09
Expenses	151.67	151.06	152.04	161.11	156.46	182.16	196.75	189.79	187.06	169.76	185.10	195.67	195.69
Operating Profit	15.31	21.87	16.21	17.33	17.29	22.44	25.32	26.28	23.74	19.71	19.61	23.47	20.40
OPM %	9.17%	12.65%	9.63%	9.71%	9.95%	10.97%	11.40%	12.16%	11.26%	10.40%	9.58%	10.71%	9.44%
Other Income	3.80	3.33	0.90	0.46	0.73	0.34	1.37	0.33	0.37	0.31	0.80	0.14	0.08
Interest	3.35	3.18	3.07	3.38	3.51	2.78	3.38	3.55	3.83	2.63	3.17	3.26	2.09
Depreciation	11.88	11.94	12.12	12.41	12.41	12.13	12.39	12.64	13.12	13.39	13.87	14.18	14.17
Profit before tax	3.88	10.08	1.92	2.00	2.10	7.87	10.92	10.42	7.16	4.00	3.37	6.17	4.22
Tax %	65.46%	24.31%	26.04%	27.00%	25.71%	34.69%	25.27%	25.34%	28.07%	23.50%	25.22%	26.58%	17.06%
Net Profit	1.34	7.63	1.43	1.46	1.56	5.14	8.16	7.79	5.16	3.06	2.51	4.54	3.50
EPS in Rs	0.43	2.42	0.45	0.46	0.50	1.63	2.59	2.47	1.64	0.97	0.80	1.44	1.11

Last Updated: March 4, 2026, 9:09 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 11:46 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	361	385	445	516	671	606	534	533	556	656	725	838	829
Expenses	292	305	337	394	513	490	456	458	509	595	650	743	746
Operating Profit	69	80	108	122	158	117	78	74	47	61	75	96	83
OPM %	19%	21%	24%	24%	24%	19%	15%	14%	8%	9%	10%	11%	10%
Other Income	18	17	14	17	34	25	12	10	7	8	2	2	1
Interest	13	7	6	4	13	16	15	7	7	13	13	14	11
Depreciation	16	19	19	22	38	40	43	45	44	47	49	52	56
Profit before tax	58	72	97	114	141	86	32	32	2	9	14	33	18
Tax %	21%	32%	35%	34%	32%	33%	8%	21%	48%	42%	31%	26%
Net Profit	46	49	64	75	95	57	30	26	1	5	10	24	14
EPS in Rs	13.49	14.23	18.50	21.90	27.69	18.24	9.50	8.14	0.38	1.66	3.04	7.68	4.32
Dividend Payout %	20%	28%	26%	27%	19%	27%	13%	18%	-0%	60%	33%	33%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	6.52%	30.61%	17.19%	26.67%	-40.00%	-47.37%	-13.33%	-96.15%	400.00%	100.00%	140.00%
Change in YoY Net Profit Growth (%)	0.00%	24.09%	-13.42%	9.48%	-66.67%	-7.37%	34.04%	-82.82%	496.15%	-300.00%	40.00%

Igarashi Motors India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	8%
5 Years:	9%
3 Years:	15%
TTM:	5%

Compounded Profit Growth
10 Years:	-7%
5 Years:	-4%
3 Years:	173%
TTM:	13%

Stock Price CAGR
10 Years:	-1%
5 Years:	9%
3 Years:	9%
1 Year:	-34%

Return on Equity
10 Years:	10%
5 Years:	3%
3 Years:	3%
Last Year:	5%

Last Updated: September 5, 2025, 6:50 am

Balance Sheet

Last Updated: September 8, 2026, 2:30 am

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	31	31	31	31	31	31	31	31	31	31	31	31
Reserves	220	264	335	368	398	391	408	407	408	416	434	435
Borrowings	58	44	22	140	118	124	95	100	121	138	151	145
Other Liabilities	132	133	117	266	122	126	165	138	166	189	158	223
Total Liabilities	440	471	504	805	670	673	700	677	726	774	775	834
Fixed Assets	121	138	158	320	383	394	370	378	379	366	391	413
CWIP	1	12	3	44	23	11	10	11	13	35	43	53
Investments	26	34	174	50	34	28	1	21	17	16	17	1
Other Assets	292	288	169	391	231	240	320	267	318	357	323	367
Total Assets	440	471	504	805	670	673	700	677	726	774	775	834

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	59	64	82	94	164	90	41	73	34	50	94	94
Cash from Investing Activity +	-14	20	-159	-69	-104	-41	6	-55	-32	-51	-90	-63
Cash from Financing Activity +	-6	-49	-29	-27	-59	-49	-38	-24	-4	0	-5	-30
Net Cash Flow	39	34	-106	-1	0	0	9	-6	-1	-1	-1	0
Free Cash Flow	39	22	48	-14	84	56	27	37	-2	-3	4	14
CFO/OP	102%	89%	96%	86%	162%	130%	54%	169%	53%	73%	109%	119%

Free Cash Flow

Free cash flow reported in the stored cash-flow statement (₹ Cr)
Period	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Free Cash Flow	39.00	22.00	48.00	-14.00	84.00	56.00	27.00	37.00	-2.00	-3.00	4.00	14.00

This table and the chart use the Free Cash Flow row from the same stored cash-flow statement. Free cash flow generally measures operating cash flow after capital expenditure; check the source definition and reporting basis. It is not operating profit minus borrowings.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	70	74	70	73	92	85	94	114	88	98	104	76
Inventory Days	38	51	47	54	62	67	89	115	81	91	86	75
Days Payable	67	105	94	110	92	87	113	139	92	95	103	74
Cash Conversion Cycle	42	20	24	17	61	66	69	91	77	94	87	76
Working Capital Days	76	56	12	26	-40	23	20	53	43	41	40	19
ROCE %	27%	27%	32%	32%	33%	19%	9%	7%	2%	4%	5%	8%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%	75.00%
FIIs	0.14%	0.86%	0.89%	0.82%	0.90%	1.30%	1.15%	0.94%	0.12%	0.10%	0.13%	0.50%
DIIs	2.62%	1.90%	1.87%	2.05%	1.73%	1.79%	2.28%	2.08%	2.21%	2.13%	2.12%	3.65%
Public	22.24%	22.23%	22.25%	22.13%	22.35%	21.90%	21.57%	21.98%	22.66%	22.77%	22.75%	20.86%
No. of Shareholders	22,836	24,011	24,109	23,730	27,505	26,293	25,238	25,263	26,598	27,129	26,971	27,607

Shareholding Pattern Chart

No. of Shareholders

Igarashi Motors India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Quant Value Fund	170,591	1.31	10.01	170,591	2025-04-22 17:25:32	0%
Kotak Pioneer Fund	125,000	0.41	7.34	125,000	2025-04-22 17:25:32	0%
Taurus Discovery (Midcap) Fund	57,500	3.37	3.38	57,500	2025-04-22 17:25:32	0%
Taurus Infrastructure Fund	2,800	2.48	0.16	2,800	2025-04-22 17:25:32	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	7.68	3.04	1.66	0.38	8.14
Diluted EPS (Rs.)	7.68	3.04	1.66	0.38	8.14
Cash EPS (Rs.)	24.05	18.64	16.65	14.51	22.34
Book Value[Excl.RevalReserv]/Share (Rs.)	147.91	142.01	139.65	139.25	139.58
Book Value[Incl.RevalReserv]/Share (Rs.)	147.91	142.01	139.65	139.25	139.58
Dividend / Share (Rs.)	2.50	1.00	1.00	0.00	1.50
Revenue From Operations / Share (Rs.)	266.38	230.35	208.50	176.78	169.30
PBDIT / Share (Rs.)	30.95	24.05	21.73	16.95	26.47
PBIT / Share (Rs.)	14.58	8.46	6.75	2.82	12.27
PBT / Share (Rs.)	10.33	4.41	2.89	0.73	10.31
Net Profit / Share (Rs.)	7.68	3.04	1.66	0.37	8.14
PBDIT Margin (%)	11.62	10.44	10.42	9.58	15.63
PBIT Margin (%)	5.47	3.67	3.23	1.59	7.25
PBT Margin (%)	3.87	1.91	1.38	0.41	6.08
Net Profit Margin (%)	2.88	1.32	0.79	0.21	4.80
Return on Networth / Equity (%)	5.19	2.14	1.19	0.27	5.83
Return on Capital Employeed (%)	8.99	5.24	4.30	1.78	8.06
Return On Assets (%)	3.11	1.23	0.72	0.17	3.66
Long Term Debt / Equity (X)	0.02	0.04	0.01	0.04	0.04
Total Debt / Equity (X)	0.27	0.25	0.20	0.18	0.19
Asset Turnover Ratio (%)	1.08	0.96	0.93	0.80	0.77
Current Ratio (X)	1.24	1.37	1.41	1.51	1.42
Quick Ratio (X)	0.81	0.94	0.94	1.06	0.95
Inventory Turnover Ratio (X)	7.48	4.37	4.68	3.96	3.60
Dividend Payout Ratio (NP) (%)	13.02	32.87	0.00	0.00	14.74
Dividend Payout Ratio (CP) (%)	4.15	5.36	0.00	0.00	5.37
Earning Retention Ratio (%)	86.98	67.13	0.00	0.00	85.26
Cash Earning Retention Ratio (%)	95.85	94.64	0.00	0.00	94.63
Interest Coverage Ratio (X)	7.28	5.94	5.63	8.14	13.47
Interest Coverage Ratio (Post Tax) (X)	2.81	1.75	1.43	1.18	5.14
Enterprise Value (Cr.)	1681.46	1399.67	1182.18	1203.58	946.83
EV / Net Operating Revenue (X)	2.01	1.93	1.80	2.16	1.78
EV / EBITDA (X)	17.26	18.49	17.28	22.57	11.36
MarketCap / Net Operating Revenue (X)	1.86	1.78	1.67	2.03	1.64
Retention Ratios (%)	86.97	67.12	0.00	0.00	85.25
Price / BV (X)	3.34	2.89	2.49	2.58	1.99
Price / Net Operating Revenue (X)	1.86	1.78	1.67	2.03	1.64
EarningsYield	0.01	0.01	0.00	0.00	0.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Frequently asked questions

What is the intrinsic value of Igarashi Motors India Ltd and is it undervalued?

Igarashi Motors India Ltd: the stored intrinsic value estimate is ₹215.26, compared with a stored share price of ₹432.00. The model value is 50.2% below that quote. The model classifies this as overvalued; it is an estimate dependent on the inputs and assumptions, not a price target or a buy/sell recommendation. The estimate uses the available valuation models and weights shown in the Intrinsic Value panel, including earnings, cash-flow and asset-based approaches where data permits. It is not a P/E-only calculation.

What share price and 52-week range are shown for Igarashi Motors India Ltd?

The stored share price is ₹432.00. Price-data record updated: 24 September 2026, 2:35 am +05:30. This is not a live quote. The stored 52-week high / low is 558/271; this is a rolling range, not a financial-year range.

How have Igarashi Motors India Ltd's revenue and profit changed?

Does Igarashi Motors India Ltd's profit convert into cash?

What should I check in Igarashi Motors India Ltd's balance sheet?

Reported borrowings were ₹145.00 Cr in Mar 2026. Read this alongside cash, interest costs and repayment obligations; reserves are an accounting balance and are not the same as available cash.

How should I compare Igarashi Motors India Ltd's P/E with other stocks?

The stored P/E is 82.90. Compare companies with similar business models, growth, leverage and accounting periods. The industry group on this page is broad, and its average can be affected by outliers. A lower P/E alone does not establish undervaluation.

What could change Igarashi Motors India Ltd's intrinsic value estimate?

Changes in sustainable earnings, cash generation, capital needs, debt and share count can change the estimate. The displayed model uses a 12% cost of equity and 4% terminal growth assumption where applicable. Higher discount rates or weaker growth generally reduce discounted values. Compare the individual model values and weights, and verify fresh filings before relying on the result.