Igarashi Motors India Ltd

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NSEBSE

484.90-8.20 (-1.66%)

03:52 PM,27th Feb 2024

485.05-4.95 (-1.01%)

04:01 PM,27th Feb 2024

BSE : 517380

NSE : IGARASHI

Sector : Auto

ISIN Code : INE188B01013

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Last Updated: Feb 27 2024 | 04:01 PM IST

Market Cap (₹ Cr)

1526

Turnover (₹ Cr)

0.29

Volume (Shares)

59255

Face Value

10

52-WK High

692.50

52-WK High Date

19 Oct 2023

52-WK Low

329.80

52-WK Low Date

28 Mar 2023

All Time High

1093.75

All Time High Date

16 Jun 2017

All Time Low

6.42

All Time Low Date

13 May 1997

Igarashi Motors India Ltd

Igarashi Motors India Limited incorporated in January 1992 is primarily engaged in the manufacture of micro motors and its accessories mainly for the automotive sector. The company came out with a Rs 2.77-cr public issue in Jan.'94 to part-finance a 100% EOU to manufacture permanent magnet DC micro motors. Total project cost was at Rs 10 cr. During 1997-98 the company has expanded capacity of Rotors by 1.5 million nos there by taking the capacity to 3.5 million nos and then to 6 million nos in 1998-99. The company was certified QS 9000 in November 1998 and the Quality System has been upgraded to conform to the latest edition of QS 9000 with effect from January 2000. During 2002-03 Crompton Greaves Limited have divested their holding in favour of Igarashi Electric Works. Since Igarashi Electric Works(HK) ltd have acquired 3099993 equity shares of CG Capital & Investments Ltd the Board has decided to change the name of the company and the Registrar have approved 'Igarashi Motors India Limited' as the new name.The company is examining the possibility of spinning off its non motor business into a focused JV with Igarshi Electric Works Japan.During the year 2007-08 Company had promoted a Joint Venture viz. Bosch Electrical Drives India Private Limited in India along with Robert Bosch GmbH Germany for developing manufacturing and selling DC Motors and Systems for Wiper HVAC Engine Cooling and Window lift applications for the fast growing Indian automotive market. It divested investments in Agile Electric Technologies Pvt. Ltd. (Formerly Igarashi Technologies Pvt. Ltd.) Igarashi Electric India Pvt. Ltd. and 26% of investment in Agile Electric Sub Assembly Pvt. Ltd. (Formerly Igarashi Brush Cards Pvt. Ltd.). It invested an additional amount of Rs.5 crores in the Joint Venture with Bosch Electrical Drives India Pvt.Ltd. in 2008-09. During the year 2013-14 Agile Electric Sub Assembly Private Limited along with Blackstone Capital Partners (Singapore) VI FDI Three Pte. Limited and BFIP (Cayman) VI-ESC FDI Three Limited and Mr. P Mukund (`Person Acting in Concert') made an open offer to acquire Company's 7314694 equity shares in compliance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 and acquired 5834 equity shares at a Price of Rs. 65.80/- per share. On July 302015 Igarashi Electric Works Limited Japan (IEWL) acquired majority stake in Agile Electric Sub Assembly Private Limited [AESPL] (Holding Company). Consequently IEWL and Mape Securities Private Limited became New Promoters of the Company from July 302015 and also AESPL and Igarashi Electric Works (H.K) Limited Hong Kong (`Wholly owned subsidiary of IEWL') became part of Promoter Group. On December 16 2015 IEWL along with Persons Acting in Concert viz. AESPL and investors issued Open Offer for acquiring 7960538 equity shares (26.01%) at a price of Rs. 324.60/- per share. AESPL acquired 600 equity shares tendered in open offer for a consideration of Rs. 194760/-.During the year 2017-18 Company acquired additional space of four plots on lease from MEPZ-SEZ for setting up of manufacturing lines and warehouse & logistics operations. On April 28 2017 Mr. P Mukund and Igarashi Motors Sales Pvt Ltd. (IMSPL) acquired 34.04% stake in Agile Electric Sub Assembly Private Limited [AESPL] (Holding Company). Consequently Mr. P Mukund along with Persons Acting in Concert viz. AESPL and IMSPL issued Open Offer for acquiring 7958196 equity shares (26%) at a price of Rs 809.96/- per share to the shareholders of the Company. AESPL acquired 649955 equity shares tendered in open offer for a consideration of Rs 526437551.80/- on April 17 2018. Consequently the Promoters & Promoter Group holding increased to 77.12% from 75%.On May 27 2017 the Board of Directors of the Company has approved the Scheme of Arrangement for amalgamation of Agile Electric Sub Assembly Private Limited (AESPL) with the Company. The Board of Directors approved issue of bonus equity shares only to the public shareholders of the Company pursuant to the Scheme in the interest of the public shareholders and to ensure compliance of minimum public shareholding post the merger. On September 20 2018 Company acquired the export division of Agile Electric Sub Assembly Private Limited (AESPL) (Holding Company) for a consideration of Rs 13562 lakhs as a going concern (Slump Sale) along with all assets liabilities and employees with effect from 01st October 2018. Upon acquisition of Export Division of AESPL the Board of Directors approved cancellation of ongoing process of amalgamation of AESPL with the Company as the majority of desired benefits were already been achieved.On August 282019 Igarashi Electric Works Ltd Japan (Promoter) [IGJ' along with Agile Electric Sub Assembly Pvt Ltd (Promoter Group & Holding Company) [AESPL] acquired 21.15% stake in the Company held by Mr. P Mukund (Promoter) as inter-se transfer of shares between Promoters. Despite of this transaction Promoter & Promoter Group continues to hold 75% stake in the Company. Also IGJ increased its stake to 91.35% from 56.84% in AESPL by acquiring stake from Mr. P Mukund and Igarashi Motors Sales Pvt Ltd.During the year 2020-21 Company disinvested entire 9.20% stake held in Bosch Electrical Drives India Private Limited (BEDPL) in favour of Robert Bosch Investment Netherland B.V Netherlands. On April 07 2021 Company had received Sale Consideration of Rs 33.70 Lakhs.

Igarashi Motors India Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

1526

EPS - TTM (₹) [S]

3.83

P/E Ratio (X) [S]

3.47

Face Value (₹) 10
Latest Dividend (%)10.00
Latest Dividend Date 31 Jul 2023
Dividend Yield (%) 0.21
Book Value Share (₹) [S]139.76
P/B Ratio (₹) [S]3.47
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
Quant Value Fund (G) 9.56 170591 0.86
Quant Value Fund (IDCW) 9.56 170591 0.86
Quant Value Fund - Direct (G) 9.56 170591 0.86
Quant Value Fund - Direct (IDCW) 9.56 170591 0.86
Taurus Mid Cap Fund (G) 3.22 57500 2.70
Taurus Mid Cap Fund (IDCW) 3.22 57500 2.70
Taurus Mid Cap Fund - Direct (IDCW) 3.22 57500 2.70
Taurus Mid Cap Fund - Direct (G) 3.22 57500 2.70
Taurus Infrastructure Fund (G) 0.16 2800 1.95
Taurus Infrastructure Fund (IDCW) 0.16 2800 1.95

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Research Reports

Date BrokerActionPrices(Rs)Report
Data Not Found

Stock Strength

Today's Low/High

477.30

498.80

Week Low/High

477.30

526.00

Month Low/High

460.15

576.00

Year Low/High

329.80

693.00

All time Low/High

4.86

1094.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week-2.24%-2.24%0.050.01%
1 Month-10.76%-10.84%3.393.96%
3 Month-6.01%-5.99%10.8012.14%
6 Month-13.05%-13.05%12.6515.22%
1 Year42.30%41.83%23.2927.63%
3 Year51.89%51.84%48.8752.78%

Company Info

Company Information

Company Sec. & Compli. Officer : P Dinakara Babu

Managing Director : R Chandrasekaran

Independent Director : Vinodhini Sendhil Manian

Independent Director : L Ramkumar

Chairman (Non-Executive) : Hemant Nerurkar

Chairman Emeritus : K K Nohria

Director : Haruo Igarashi

Director : Thomas Francis Mckeough

Registered Office: Plots No B-12 to B-15 Phase II, MEPZ-SEZ Tambaram,Chennai,Tamil Nadu-600045 Ph: 91-044-22628199/42298199

Email:investorservices@igarashimtors.co.in

URL:http://www.igusa.com