Igarashi Motors India Ltd is engaged in the production and export of Permanent Magnet DC Motors for the Automotive Sector especially for the passenger vehicle sector
It was incorporated as CG Igarashi Motors Limited in 1992 as a JV between Crompton Greaves Ltd(India), Igarashi Electric Works Ltd, Japan, and International Components Corporation, USA.
Over a period, IEWL consolidated its stake in the Company by acquiring a stake of exited JV Partners.
Financial Results:
- Igarashi Motors India Ltd reported Revenues for Q1FY24 of ₹168.25 Crores up from ₹142.61 Crore year on year, a rise of 17.98%.
- Total Expenses for Q1FY24 of ₹167.23 Crores up from ₹148.54 Crores year on year, a rise of 12.58%.
- Consolidated Net Profit of ₹1.43 Crores from -₹4.20 Crores in the same quarter of the previous year.
- The Earnings per Share is ₹0.45, from -₹1.33 in the same quarter of the previous year.