Igarashi motors India Limited announced its unaudited financial results for the third quarter ended December 31, 2025, revealing a challenging period marked by declining profitability despite stable revenue performance. The Chennai-based automotive components manufacturer reported results that were approved by the Board of Directors at their meeting held on February 11, 2026.

Financial Performance Overview

The company's financial performance for Q3FY26 showed mixed results with revenue stability but significant profit decline. Total income for the quarter reached Rs 21,617.68 lakhs compared to Rs 21,117.46 lakhs in the corresponding quarter of the previous year.

Segment-wise Performance

The company operates in two primary segments: automotive and non-automotive components. The automotive segment remained the dominant contributor to revenue, while the non-automotive segment showed a decline in contribution.

The automotive segment demonstrated strong growth with revenue increasing by 9.17% year-on-year, contributing approximately 90% of total revenue. However, the non-automotive segment experienced a significant decline of 33.64%, impacting overall performance.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Igarashi Motors faced more pronounced challenges with both revenue and profitability declining compared to the previous year.

Cost Structure and Expenses

The company's expense structure showed increases in several key areas, contributing to margin pressure. Employee benefit expenses rose to Rs 2,201.55 lakhs in Q3FY26 from Rs 1,919.77 lakhs in Q3FY25, representing a 14.68% increase. This increase was partly attributed to the implementation of New Labour Codes, which resulted in an incremental impact of Rs 71.95 lakhs during the quarter.

Finance costs decreased significantly to Rs 208.92 lakhs from Rs 382.95 lakhs in the previous year, indicating improved debt management. Depreciation and amortization expenses increased to Rs 1,416.67 lakhs from Rs 1,312.15 lakhs, reflecting continued capital investments.

Earnings Per Share and Capital Structure

The company maintained its paid-up equity share capital at Rs 3,147.50 lakhs with a face value of Rs 10 per share. Basic and diluted earnings per share for Q3FY26 stood at Rs 1.11, down from Rs 1.64 in the corresponding quarter of the previous year. The company's reserves stood at Rs 43,407.62 lakhs as of March 31, 2025.

Regulatory Compliance and Outlook

The financial results were prepared in accordance with Indian Accounting Standard 34 and were subject to limited review by statutory auditors B S R & Co. LLP. The audit committee reviewed the results at its meeting held on February 11, 2026, and the Board of Directors approved them on the same date. The auditor's report was unqualified, confirming the accuracy of the financial statements.

Igarashi Motors India Limited has released its unaudited financial results for the second quarter and half-year ended September 30, 2025, showing improvements in both revenue and profitability.

Revenue and Profitability

The company reported significant year-on-year increases in revenue and profit for Q2 FY2026:

Igarashi Motors saw a substantial increase in revenue, growing from ₹177.32 crore in Q2 FY2025 to ₹215.05 crore in Q2 FY2026, representing a 21.28% year-on-year growth. The company also experienced a significant improvement in profitability, with net profit more than doubling from the previous year.

Half-Year Performance

For the half-year period ended September 30, 2025, the company reported:

• Revenue: ₹416.74 crore
• Net Profit: ₹12.73 crore

Segment Performance

Igarashi Motors operates in two main segments: Automotive and Non-Automotive manufacturing. Specific segment-wise revenue breakdown for Q2 FY2026 was not provided in the results.

Earnings Per Share

The Basic Earnings Per Share (EPS) for Q2 FY2026 stood at ₹1.90, showing a significant improvement from ₹0.80 in the corresponding quarter of the previous year.

Board Approval

The Board of Directors approved these financial results at their meeting held on November 6, 2025.

Conclusion

Igarashi Motors India Limited has demonstrated strong performance in Q2 FY2026, with notable improvements in both revenue and profitability. The substantial increase in net profit and earnings per share indicates effective cost management and operational efficiency. The company's growth in the reported quarter provides a positive outlook for its stakeholders.