Igarashi Motors profit halves to ₹12 cr despite revenue uptick in FY26
Net profit drops 50% as costs eat into top-line growth. Board recommends ₹1.30 dividend.
— 1 earlier story on Igarashi Motors India Ltd. →Mkt cap₹1,490 cr
P/E122.68×
ROE5.19%
Debt / eq.0.28
Div yld0.27%
-50% Year-on-year net profit decline
What's new
- Net profit fell 50% to ₹12.15 cr from ₹24.17 cr in FY25.
- Revenue rose 3.3% to ₹865.92 cr, but margins compressed sharply.
- Board recommended a final dividend of ₹1.30 per share.
Why this matters
For a micro-cap, a 50% profit drop on modest revenue growth signals severe margin erosion. The dividend offers little consolation for the scale of the earnings collapse.
What we're watching
- Whether management provides margin guidance in the concall.
- Any cost-control measures or restructuring announced.
- Stock price reaction to the steep profit decline.
The full read
Igarashi Motors reported a 50% plunge in net profit to ₹12.15 crore for FY26, despite a 3.3% increase in revenue to ₹865.92 crore. The divergence points to significant margin pressure, raising questions about cost management. The board recommended a final dividend of ₹1.30 per share, but the scale of the profit decline overshadows the payout. For a micro-cap company, such a steep earnings drop is material.
Mentioned: Igarashi Motors · ₹12.15 cr net profit · ₹1.30 dividend
Company snapshot
Igarashi Motors India Ltd.
Engineering & Capital Goods
₹1,211 cr
P/E 99.72×
Latest quarter · Mar 2026
Sales₹226 cr
Net profit₹2 cr
Op. margin+8.5%
EPS₹0.51
Strength & growth
Debt / equity0.28×
Current ratio1.24×
Sales CAGR+6.9%
EPS CAGR−15.1%
Story so far
All notes on IGARASHI →- 21 May 2026 · 2:59 PM IST Igarashi Motors profit halves to ₹12 cr despite revenue uptick in FY26
- 52d ago Igarashi Motors' profit halves despite marginal revenue gain