Igarashi Motors India Limited: Dismal Q3 FY 2018-19 Numbers


Igarashi Motors India Limited has posted its quarterly numbers (October to December 2018) on Wednesday when the market closed. The Company has posted weak set of numbers for the quarter under review

The Company has generated revenue of INR 128.79 Cr for Q3 FY 2018 vs INR 150.29 Cr same period last year, a net decrease of 14.31 percent YoY basis. Quarter-on-quarter revenue decreased by 25.44% (INR 172.73 Cr for the period ended September ’18)

The Company reported a net profit of INR 9.56 Cr for the period ended 31 December 2018 as against INR 20.50 Cr a period one year ago, declined by 53.37% year-on-year basis. The Company’s PAT for the Q2 FY 2018-19 stood at INR 19.76 Cr, again a healthy de-growth of 51.62% QoQ basis.

 

Igarashi Motors India Limited

 

Igarashi Motors India Limited, known as ‘IMIL’ is primarily engaged in the production and export of Permanent magnet DC motors for the automotive sector, especially for passenger cars.

History: The Company was originally incorporated as CG Igarashi Motors Limited (CGIML) on January 10, 1992, and was jointly promoted by Crompton Greaves (CGL), Igarashi Electric Works (IEW), Japan, and International Components Corporation (ICC), USA.

Business: Igarashi Motors manufactures permanent magnet micrometers. The company has technical collaborations with Igarashi Electric Works and International Components Corporation for technology transfer and sourcing of all critical plant and equipment. The Company also has a marketing arrangement with ICC under which ICC will purchase five mln micrometers pa from CIM.

Client List: Dellorto is the company’s primary domestic client, while the international client includes Bosch, Continental, Cooper, Delphi, Pierburg, Valeo, and Visteon.

Stock Price Movement

The stock ended more than 6.50% or Rs. 29 lower to INR 402.60 on NSE when the market closed on Wednesday! During Q3 FY 2018-19, the share prices of Igarashi Motors has made a low of INR 547 and high of INR 677

Igarashi Motors on Technical Charts

The stock prices of Igarashi Motors India Limited is trading 38.15% lower when compared to its 200 EMA (650) and trading 24.44% lower when compared to its 50 EMA (532)

Average Return

The stock has given -47.79% returns over the past 6 months and -51.75% returns over the last 12 months.

Igarashi Motors current market cap is more than INR 1300 Cr and trading at a PE ratio of 22

 

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Vishal Dalwadi

Vishal Dalwadi

Vishal is an MBA (Finance) post-graduate. He is the founder and owner of "FinBlab". His blog aims at providing information and research on Stock market and sectors including Mutual funds, IPOs, Insurance and more.

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