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Igarashi Motors India Ltd.

BSE: 517380 Sector: Auto
NSE: IGARASHI ISIN Code: INE188B01013
BSE 00:00 | 18 Sep 191.60 -7.70
(-3.86%)
OPEN

195.25

HIGH

200.05

LOW

191.00

NSE 00:00 | 18 Sep 192.45 -7.75
(-3.87%)
OPEN

200.50

HIGH

204.75

LOW

191.00

OPEN 195.25
PREVIOUS CLOSE 199.30
VOLUME 7134
52-Week high 775.07
52-Week low 171.10
P/E 14.18
Mkt Cap.(Rs cr) 603
Buy Price 191.60
Buy Qty 1.00
Sell Price 192.60
Sell Qty 50.00
OPEN 195.25
CLOSE 199.30
VOLUME 7134
52-Week high 775.07
52-Week low 171.10
P/E 14.18
Mkt Cap.(Rs cr) 603
Buy Price 191.60
Buy Qty 1.00
Sell Price 192.60
Sell Qty 50.00

Igarashi Motors India Ltd. (IGARASHI) - Chairman Speech

Company chairman speech

Dear Shareholder

Your Company's financial performance has been adversely impacted due toslowdown in the Global Auto Industry. Despite the sales decline your Company has beenable to mitigate the impact on profitability by various cost containment measures. YourCompany's share price has been under continuous stress amidst the global slowdownwitnessed by many players in Automotive Industry and volatile Indian Stock Market.

From a financial performance perspective FY2018-19 was disappointing.The results we posted during the year dropped far beyond our goals due to the impact ofGlobal slowdown in all markets in second half of the year impacting our marginimprovement trend of the past years.

During the year your Company's acquisition of Export Division ofAgile Electric Sub Assembly Pvt Ltd from October 012018 had paved way fordiversification and growth into new application areas to serve existing & newcustomers/ market domains. Your Company would reap benefits of topline growth once GlobalMarket Turnaround happens in the coming months.

Your Company's new programs for Global Clients continue to be on trackand are expected to result in significant volume growth in the next few years.

I would like you to join me in complimenting your Company's teamfor their dedication and commitment.

As always I am extremely grateful to you shareholders for yourunderstanding and support. I assure you we will do our best to gain topline growth andmaintain profitability in near future.

With regards

K K Nohria

Chairman