Fundamental Analysis of Igarashi Motors India Ltd

About the Company - Igarashi Motors India Ltd

Igarashi Motors India Ltd. is a Public Limited Listed company incorporated on 10/01/1992 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L29142TN1992PLC021997 and registration number is 021997. Currently company belongs to the Industry of Electric Equipment - General. Company’s Total Operating Revenue is Rs. 556.40 Cr. and Equity Capital is Rs. 31.48 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Electric Equipment - General	Plots No. B-12 To B-15, Chennai (Madras) Tamil Nadu 600045	investorservices@igarashimotors.co.in http://www.igarashimotors.com

Management
Name	Position Held
Mr. K K Nohria	Chairman Emeritus
Mr. Hemant M Nerurkar	Chairman, Non Ind & Non Exe Director
Mr. R Chandrasekaran	Managing Director
Mr. Thomas Francis McKeough	Non Exe.Non Ind.Director
Mr. Haruo Igarashi	Non Exe.Non Ind.Director
Mr. L Ramkumar	Ind. Non-Executive Director
Mrs. S M Vinodhini	Ind. Non-Executive Woman Director

Basic Stock Data of Igarashi Motors India Ltd

Last Updated: July 26, 2024, 10:34 pm

Market Cap	1,690 Cr.
Current Price	536
High / Low	692/402
Stock P/E	177
Book Value	142
Dividend Yield	0.19 %
ROCE	4.74 %
ROE	2.16 %
Face Value	10.0
PEG Ratio	-10.46

Data Source: screener.in

Igarashi Motors India Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	168.44	168.55	148.39	158.99	111.19	137.82	142.61	173.73	166.98	172.93	168.25	178.44	173.75
Expenses	140.53	141.90	131.23	140.40	108.65	129.71	134.78	158.38	151.67	151.06	152.04	161.11	156.46
Operating Profit	27.91	26.65	17.16	18.59	2.54	8.11	7.83	15.35	15.31	21.87	16.21	17.33	17.29
OPM %	16.57%	15.81%	11.56%	11.69%	2.28%	5.88%	5.49%	8.84%	9.17%	12.65%	9.63%	9.71%	9.95%
Other Income	2.64	2.04	0.74	1.85	3.88	0.46	0.31	0.59	3.80	3.33	0.90	0.46	0.73
Interest	1.63	2.09	1.83	1.94	1.12	1.66	2.50	3.11	3.35	3.18	3.07	3.38	3.51
Depreciation	11.50	11.24	11.01	11.31	11.04	11.11	11.26	12.07	11.88	11.94	12.12	12.41	12.41
Profit before tax	17.42	15.36	5.06	7.19	-5.74	-4.20	-5.62	0.76	3.88	10.08	1.92	2.00	2.10
Tax %	23.36%	28.52%	25.89%	28.51%	23.00%	21.90%	25.27%	38.16%	65.46%	24.31%	26.04%	27.00%	25.71%
Net Profit	13.35	10.98	3.75	5.14	-4.42	-3.28	-4.20	0.47	1.34	7.63	1.43	1.46	1.56
EPS in Rs	4.24	3.49	1.19	1.63	-1.40	-1.04	-1.33	0.15	0.43	2.42	0.45	0.46	0.50

Last Updated: July 11, 2024, 12:34 pm

Igarashi Motors India Ltd Quarterly Chart

Igarashi Motors India Ltd Profit & Loss

Last Updated: July 10, 2024, 6:05 pm

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	269	291	361	385	445	516	671	606	534	533	556	656	687
Expenses	225	237	292	305	337	394	513	490	456	458	509	595	616
Operating Profit	43	54	69	80	108	122	158	117	78	74	47	61	71
OPM %	16%	19%	19%	21%	24%	24%	24%	19%	15%	14%	8%	9%	10%
Other Income	1	2	18	17	14	17	34	25	12	10	7	8	8
Interest	15	14	13	7	6	4	13	16	15	7	7	13	13
Depreciation	11	13	16	19	19	22	38	40	43	45	44	47	48
Profit before tax	18	29	58	72	97	114	141	86	32	32	2	9	18
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	12
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	3.76
Dividend Payout %	0%	0%	20%	28%	26%	27%	19%	27%	13%	18%	0%	60%

Igarashi Motors India Ltd Profit & Loss Yearly Chart

Igarashi Motors India Ltd Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	4%
3 Years:	11%
TTM:	10%

Compounded Profit Growth
10 Years:	-13%
5 Years:	-30%
3 Years:	-28%
TTM:	83%

Stock Price CAGR
10 Years:	12%
5 Years:	18%
3 Years:	-2%
1 Year:	-6%

Return on Equity
10 Years:	11%
5 Years:	3%
3 Years:	1%
Last Year:	2%

Last Updated: July 24, 2024, 5:41 pm

Igarashi Motors India Ltd Balance Sheet

Last Updated: July 10, 2024, 6:05 pm

Month	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	20	20	30	31	31	31	31	31	31	31	31	31	31
Reserves	81	102	189	220	264	335	368	398	391	408	407	408	408
Borrowings	84	78	51	58	44	22	140	118	124	95	100	121	123
Other Liabilities	63	70	89	132	133	117	266	122	126	165	138	166	170
Total Liabilities	248	271	360	440	471	504	805	670	673	700	677	726	733
Fixed Assets	106	122	126	121	138	158	320	383	394	370	378	379	370
CWIP	6	3	1	1	12	3	44	23	11	10	11	13	25
Investments	29	29	21	26	34	174	50	34	28	1	21	17	4
Other Assets	107	117	212	292	288	169	391	231	240	320	267	318	333
Total Assets	248	271	360	440	471	504	805	670	673	700	677	726	733

Igarashi Motors India Ltd Reserves and Borrowings Chart

Igarashi Motors India Ltd Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	59	45	59	64	82	94	164	90	41	73	34	50
Cash from Investing Activity	-42	-30	-14	20	-159	-69	-104	-41	6	-55	-32	-51
Cash from Financing Activity	-18	20	-6	-49	-29	-27	-59	-49	-38	-24	-4	0
Net Cash Flow	-1	35	39	34	-106	-1	0	0	9	-6	-1	-1

Igarashi Motors India Ltd Financial Efficiency Indicators

Month	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	90
ROCE %	20%	22%	27%	27%	32%	32%	33%	19%	9%	7%	2%	4%

Igarashi Motors India Ltd Financial Efficiency Indicators Chart

Igarashi Motors India Ltd Share Holding Pattern

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
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	1.09%	0.05%	0.00%	0.03%	0.14%	0.11%	0.11%	0.10%	0.08%	0.08%	0.24%	0.14%
DIIs	7.64%	2.23%	2.56%	2.26%	2.44%	1.31%	1.22%	1.80%	1.68%	1.94%	2.40%	2.62%
Public	16.27%	22.72%	22.44%	22.71%	22.42%	23.58%	23.67%	23.11%	23.23%	22.98%	22.36%	22.24%
No. of Shareholders	23,334	26,690	25,134	25,403	24,098	26,113	26,511	25,310	23,987	23,469	22,757	22,836

Igarashi Motors India Ltd Shareholding Pattern Chart

No. of Igarashi Motors India Ltd Shareholders

Igarashi Motors India Ltd 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	125,000	2024-07-25	36.47%
Kotak Pioneer Fund	125,000	0.41	7.34	125,000	2024-07-25	0%
Taurus Discovery (Midcap) Fund	57,500	3.37	3.38	125,000	2024-07-25	-54%
Taurus Infrastructure Fund	2,800	2.48	0.16	125,000	2024-07-25	-97.76%

Igarashi Motors India Ltd ROCE Trend

Igarashi Motors India Ltd EPS Trend

Igarashi Motors India Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	3.04	1.66	0.38	8.14	9.50
Diluted EPS (Rs.)	3.04	1.66	0.38	8.14	9.50
Cash EPS (Rs.)	18.64	16.65	14.51	22.34	23.02
Book Value[Excl.RevalReserv]/Share (Rs.)	142.01	139.65	139.25	139.58	134.35
Book Value[Incl.RevalReserv]/Share (Rs.)	142.01	139.65	139.25	139.58	134.35
Dividend / Share (Rs.)	1.00	1.00	0.00	1.50	1.20
Revenue From Operations / Share (Rs.)	230.35	208.50	176.78	169.30	169.78
PBDIT / Share (Rs.)	24.05	21.73	16.95	26.47	28.30
PBIT / Share (Rs.)	8.46	6.75	2.82	12.27	14.79
PBT / Share (Rs.)	4.41	2.89	0.73	10.31	10.31
Net Profit / Share (Rs.)	3.04	1.66	0.37	8.14	9.50
PBDIT Margin (%)	10.44	10.42	9.58	15.63	16.66
PBIT Margin (%)	3.67	3.23	1.59	7.25	8.70
PBT Margin (%)	1.91	1.38	0.41	6.08	6.07
Net Profit Margin (%)	1.32	0.79	0.21	4.80	5.59
Return on Networth / Equity (%)	2.14	1.19	0.27	5.83	7.07
Return on Capital Employeed (%)	5.24	4.30	1.78	8.06	9.78
Return On Assets (%)	1.23	0.72	0.17	3.66	4.44
Long Term Debt / Equity (X)	0.04	0.01	0.04	0.04	0.06
Total Debt / Equity (X)	0.25	0.20	0.18	0.19	0.17
Asset Turnover Ratio (%)	0.96	0.93	0.80	0.77	0.79
Current Ratio (X)	1.37	1.41	1.51	1.42	1.27
Quick Ratio (X)	0.94	0.94	1.06	0.95	0.87
Inventory Turnover Ratio (X)	4.37	4.68	3.96	3.60	4.60
Dividend Payout Ratio (NP) (%)	32.87	0.00	0.00	14.74	51.56
Dividend Payout Ratio (CP) (%)	5.36	0.00	0.00	5.37	21.28
Earning Retention Ratio (%)	67.13	0.00	0.00	85.26	48.44
Cash Earning Retention Ratio (%)	94.64	0.00	0.00	94.63	78.72
Interest Coverage Ratio (X)	5.94	5.63	8.14	13.47	6.33
Interest Coverage Ratio (Post Tax) (X)	1.75	1.43	1.18	5.14	3.12
Enterprise Value (Cr.)	1399.67	1182.18	1203.58	946.83	656.41
EV / Net Operating Revenue (X)	1.93	1.80	2.16	1.78	1.23
EV / EBITDA (X)	18.49	17.28	22.57	11.36	7.37
MarketCap / Net Operating Revenue (X)	1.78	1.67	2.03	1.64	1.09
Retention Ratios (%)	67.12	0.00	0.00	85.25	48.43
Price / BV (X)	2.89	2.49	2.58	1.99	1.38
Price / Net Operating Revenue (X)	1.78	1.67	2.03	1.64	1.09
EarningsYield	0.01	0.00	0.00	0.02	0.05

Igarashi Motors India Ltd Profitability Ratios (%)

Igarashi Motors India Ltd Liquidity Ratios

Igarashi Motors India Ltd Liquidity Ratios (%)

Igarashi Motors India Ltd Interest Coverage Ratios (%)

Igarashi Motors India Ltd Valuation Ratios

Fair Value

Fair Value: 543.93

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 1.48% compared to the current price 536

Intrinsic Value: 451.89

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Overvalued: 15.69% compared to the current price 536

Last 5 Year EPS CAGR: -16.92%

*Investments are subject to market risks

Strength and Weakness of Igarashi Motors India Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 19.50%, which is a positive sign. The company has higher reserves (325.50 cr) compared to borrowings (90.75 cr), indicating strong financial stability. The company has shown consistent growth in sales (500.77 cr) and profit (54.46 cr) over the years.	The stock has a high average Working Capital Days of 52.33, which may not be favorable. The stock has a high average Cash Conversion Cycle of 52.58, which may not be favorable.

FAQ

What is the latest fair value of Igarashi Motors India Ltd?

The latest fair value of Igarashi Motors India Ltd is ₹543.93.

What is the Market Cap of Igarashi Motors India Ltd?

The Market Cap of Igarashi Motors India Ltd is 1,690 Cr..

What is the current Stock Price of Igarashi Motors India Ltd as on 27 July 2024?

The current stock price of Igarashi Motors India Ltd as on 27 July 2024 is 536.

What is the High / Low of Igarashi Motors India Ltd stocks in FY 2024?

In FY 2024, the High / Low of Igarashi Motors India Ltd stocks is 692/402.

What is the Stock P/E of Igarashi Motors India Ltd?

The Stock P/E of Igarashi Motors India Ltd is 177.

What is the Book Value of Igarashi Motors India Ltd?

The Book Value of Igarashi Motors India Ltd is 142.

What is the Dividend Yield of Igarashi Motors India Ltd?

The Dividend Yield of Igarashi Motors India Ltd is 0.19 %.

What is the ROCE of Igarashi Motors India Ltd?

The ROCE of Igarashi Motors India Ltd is 4.74 %.

What is the ROE of Igarashi Motors India Ltd?

The ROE of Igarashi Motors India Ltd is 2.16 %.

What is the Face Value of Igarashi Motors India Ltd?

The Face Value of Igarashi Motors India Ltd is 10.0.