Igarashi FY26 Profit Falls 50% to 1.21B Rupees
Igarashi Motors reported a 50% decline in FY26 net profit to 1.21B rupees, despite revenue increasing to 86.59B rupees. Q4 profit fell to 159.49M rupees with EBITDA margins contracting to 8.5%. The board recommended a final dividend of Rs. 1.30 per share and appointed auditors for the upcoming fiscal year.
*this image is generated using AI for illustrative purposes only.
Igarashi Motors reported a decline in financial performance for the fiscal year ended March 31, 2026, with net profit falling to 1.21B rupees from 2.42B rupees in the previous year. For the fourth quarter, the company recorded a net profit of 159.49M rupees, a decrease from 306.14M rupees in the corresponding quarter of the previous year. Revenue from operations for the year stood at 86.59B rupees, compared to 83.84B rupees in FY25.
Q4 and Annual Financial Performance
The company's Q4 revenue rose to 22.60B rupees from 18.95B rupees year-on-year. However, profitability was impacted by increased expenses, leading to a contraction in margins. EBITDA for Q4 was 1.93B rupees, down from 1.97B rupees in the prior year. The EBITDA margin for the quarter contracted to 8.5% from 10.4%.
The following table summarises the key financial metrics for the quarter and year:
| Metric: | Q4 Current Year | Q4 Previous Year | FY26 | FY25 |
|---|---|---|---|---|
| Net Profit: | 159.49M Rupees | 306.14M Rupees | 1.21B Rupees | 2.42B Rupees |
| Revenue: | 22.60B Rupees | 18.95B Rupees | 86.59B Rupees | 83.84B Rupees |
| EBITDA: | 1.93B Rupees | 1.97B Rupees | 10.18B Rupees | 10.68B Rupees |
| EBITDA Margin: | 8.5% | 10.4% | 11.8% | 12.7% |
Dividend and Appointments
The Board of Directors has recommended a final dividend of Rs. 1.30 per equity share of face value Rs. 10 each for the financial year ended March 31, 2026. This dividend is subject to the approval of shareholders at the ensuing Annual General Meeting. Additionally, the board appointed Sharp & Tannan, Chartered Accountants, as the Internal Auditor for two financial years, 2026-27 and 2027-28. M/s. B Y & Associates were appointed as the Cost Auditor for FY2026-27 for the BLDC Unit.
Historical Stock Returns for Igarashi Motors
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.03% | -0.82% | +7.82% | -11.45% | -18.74% | -17.90% |
What specific cost drivers are behind the margin compression at Igarashi Motors, and what measures is management planning to restore EBITDA margins back above 12% in FY27?
How might the growing adoption of BLDC motors in the EV and appliance sectors impact Igarashi Motors' revenue mix and profitability over the next two to three years?
Given that net profit halved despite revenue growth, could Igarashi Motors face pressure from its parent company Minda Corporation to undertake restructuring or operational efficiency initiatives?
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