IGARASHI MOTORS INDIA LIMITED (IGARASHI): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹370.6 latest close · −24.9% over the last 90 sessions

₹370.6 month-end · −21.7% over 12 months

₹370.6 month-end · −31.4% over 3 years

₹370.6 month-end · −28.9% since Jan '19

52-week range ₹271.05 to ₹537.90 · 1-year volatility 45.6%

Was the rally earned?

1 year3 years5 years

-22%share price, 1 yearMultiple-driven

Mostly the multiple.

Most of the fall came from investors paying a lower multiple (P/E 1491.0x to 1167.4x); per-share earnings added 0 points.
The share count barely moved.

Net profit growth0 ptsNet profit was little changed.

P/E change-22 ptsThe P/E fell from 1491.0x to 1167.4x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-31%share price, 3 yearsMultiple-driven

Mostly the multiple.

Most of the fall came from investors paying a lower multiple (P/E 1701.9x to 1167.4x); per-share earnings added 0 points.
The share count barely moved.

Net profit growth0 ptsNet profit was little changed.

P/E change-31 ptsThe P/E fell from 1701.9x to 1167.4x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

-25%share price, 5 yearsMultiple-driven

Mostly the multiple.

Most of the fall came from investors paying a lower multiple (P/E 1560.7x to 1167.4x); per-share earnings added 0 points.
The share count barely moved.

Net profit growth0 ptsNet profit was little changed.

P/E change-25 ptsThe P/E fell from 1560.7x to 1167.4x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with SAMVARDHANA MOTHERSON INT

How rough has the ride been?

Maximum drawdown-72.7%recovered 2021-07

1-year volatility45.6%annualised

Beta vs sector index1.293-year daily, correlation 0.56

Volume spikes5last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-72.7% (2019-01 peak to 2020-04 low, recovered 2021-07)

-67.0% (2024-12 peak to 2026-03 low, not yet recovered)

-55.8% (2021-10 peak to 2022-06 low, recovered 2023-08)

Most recent volume spikes

2026-11-05: 5.6x the 50-day median, price -1.8% that day

2026-09-16: 9.5x the 50-day median, price -2.0% that day

2026-09-15: 243.6x the 50-day median, price +5.5% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Producer Manufacturing peers?

Each cell is the company's percentile rank among its Producer Manufacturing peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

Revenue growth17th▼ 8 pts vs a year ago
Debt/equity ↓14thflat vs a year ago
Cash cycle ↓28thflat vs a year ago
12M momentum28th▲ 11 pts vs a year ago

Rank history

Revenue growth

Debt/equity ↓

Cash cycle ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Producer Manufacturing sector page Watch it move against Producer Manufacturing in the Observatory

Key figures

Share Priceclose 9 Nov: ₹370.60
Market Cap: ₹1167 cr
Revenue (TTM): ₹176 cr
P/S: 6.6x
P/B: 16.4x
ROE: 1.4%
Debt / Equity: 0.9x
Promoter Holding: 75.0%
12M Momentum: -21.7%

52-week range

₹271.05₹537.90

37% of the way from its 52-week low to its high

Price risk

1Y volatility

45.6%

Beta vs sector

1-year daily

1.21

Balance sheet & cash

Interest cover

operating profit ÷ interest

1.3x

Share count, 1Y

unchanged

Are profits backed by cash?

2 of 3checks within range1 beyond a threshold

Other income reliance300%Beyond threshold

Other income as a share of pre-tax profit (trailing twelve months): 300.0%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion—Not enough data

Not enough reported data to compute this.

Free cash flow—Not enough data

Not enough reported data to compute this.

Receivable days vs history0 daysWithin range

Debtor days are below the median of the previous three fiscal years by 0 days (97 vs 97). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress—Not enough data

Not enough reported data to compute this.

Payable days0 days / 2 yrsWithin range

Days payable changed by 0 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, DIIs added 1.0 pts.
The number of shareholders rose from 22,836 to 27,607 (+21%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters75.0%75.0%0.0 pts

FIIs0.1%0.5%+0.4 pts

DIIs2.6%3.6%+1.0 pts

Public and others22.2%20.9%-1.4 pts

Number of shareholders

27,607shareholders+21% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−8.3%typical 12-month return vs the marketBelow the base rate

We found 50 past situations where a non-financial company looked like IGARASHI MOTORS INDIA LIMITED today on valuation, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −37% to +32% vs the market, against −2% for all non-financial companies in the same months.
The analogs' median sat below that base rate (gap −6.1%, 80% range −15.9% to −1.0%), but the matches cluster in only 6 distinct 12-month windows.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median

−8.3%

All companies' median

−2.2%

Beat the market

40% vs 48%

50 past situations · 50 companies · 36 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ANANTRAJ Consumer Durables	Mar 2022	183x	1%	+21%	−21%	+95%
GREENPOWER Utilities	Aug 2025	47x	7%	−34%	−38%	−37%
ADVANIHOTR Consumer Services	Sep 2022	127x	-13%	−2%	−24%	−5%
EIHAHOTELS Consumer Services	Aug 2023	124x	13%	+14%	−8%	+11%
NELCO Electronic Technology	Nov 2022	107x	18%	+2%	−28%	−12%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
MENONBE Producer Manufacturing	Feb 2020	144x	15%	−35%	−41%	−17%
SHRIRAMPPS Finance	Mar 2023	105x	10%	−22%	−33%	+25%
STEELXIND Non-Energy Minerals	Apr 2023	63x	—	−23%	−28%	−44%

How reliable is this?

Matched on P/S, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: 12-month momentum, drawdown from 12-month high and volatility. Not used (unavailable for this company): P/E, ROCE and operating margin. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to IGARASHI MOTORS INDIA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What changed?

30 events since Aug '20

2026
NovPriceVolume reached 5.6x its 50-day median on 2026-11-05; price -1.8% that day.
SepPriceVolume reached 243.6x its 50-day median on 2026-09-15; price +5.5% that day.
JunPriceVolume reached 146.8x its 50-day median on 2026-06-17; price +7.9% that day.
MarPriceFell 67% from the Dec 2024 peak to the Mar 2026 low.
JanPriceVolume reached 268.2x its 50-day median on 2026-01-02; price +5.8% that day.
2025
NovPriceVolume reached 123.7x its 50-day median on 2025-11-26; price +11.1% that day.
JulPriceVolume reached 23.1x its 50-day median on 2025-07-02; price +5.4% that day.
MarPriceVolume reached 5.0x its 50-day median on 2025-03-27; price +1.4% that day.

Show 22 earlier events

2024
OctPriceVolume reached 8.7x its 50-day median on 2024-10-15; price +9.7% that day.
AugPriceRegained the 2023-09 peak, 5 months after the low.
AugPriceVolume reached 27.7x its 50-day median on 2024-08-08; price +11.2% that day.
AprPriceVolume reached 7.6x its 50-day median on 2024-04-24; price +7.7% that day.
MarPriceFell 38% from the Sep 2023 peak to the Mar 2024 low.
JanPriceVolume reached 10.1x its 50-day median on 2024-01-05; price +6.0% that day.
2023
OctPriceVolume reached 6.8x its 50-day median on 2023-10-19; price -2.9% that day.
SepPriceVolume reached 18.0x its 50-day median on 2023-09-04; price +13.0% that day.
AugPriceRegained the 2021-10 peak, 14 months after the low.
MayPriceVolume reached 51.0x its 50-day median on 2023-05-10; price +2.9% that day.
FebPriceVolume reached 14.3x its 50-day median on 2023-02-21; price -5.1% that day.
2022
NovPriceVolume reached 7.8x its 50-day median on 2022-11-09; price +8.4% that day.
SepPriceVolume reached 27.7x its 50-day median on 2022-09-08; price +4.1% that day.
JunPriceFell 56% from the Oct 2021 peak to the Jun 2022 low.
FebPriceVolume reached 5.1x its 50-day median on 2022-02-03; price -1.8% that day.
2021
OctPriceVolume reached 8.1x its 50-day median on 2021-10-13; price +9.2% that day.
JulPriceRegained the 2019-01 peak, 15 months after the low.
JulPriceVolume reached 7.0x its 50-day median on 2021-07-06; price +2.6% that day.
MayPriceVolume reached 11.8x its 50-day median on 2021-05-06; price +20.0% that day.
JanPriceVolume reached 24.0x its 50-day median on 2021-01-05; price +12.3% that day.
2020
NovPriceVolume reached 53.3x its 50-day median on 2020-11-20; price +12.4% that day.
AugPriceVolume reached 7.6x its 50-day median on 2020-08-18; price +8.7% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11

Month	Revenue (TTM)	ROE	Debt / Equity
2026-11	₹176 cr	1.4%	0.9x
2026-10	₹176 cr	1.4%	0.9x
2026-09	₹176 cr	1.4%	0.9x
2026-08	₹176 cr	1.4%	0.9x
2026-07	₹176 cr	1.4%	0.9x
2026-06	₹176 cr	1.4%	0.9x
2026-05	₹176 cr	1.4%	0.9x
2026-04	₹176 cr	1.4%	0.9x
2026-03	₹176 cr	1.4%	0.9x
2026-02	₹176 cr	1.4%	0.9x
2026-01	₹176 cr	1.4%	0.9x
2025-12	₹176 cr	1.4%	0.9x
2025-11	₹176 cr	1.4%	0.9x
2025-10	₹176 cr	1.4%	0.9x
2025-09	₹176 cr	1.4%	0.9x
2025-08	₹176 cr	1.4%	0.9x
2025-07	₹176 cr	1.4%	0.9x
2025-06	₹176 cr	1.4%	0.9x
2025-05	₹176 cr	1.4%	0.9x
2025-04	₹176 cr	1.4%	0.9x
2025-03	₹176 cr	1.4%	0.9x
2025-02	₹176 cr	1.4%	0.9x
2025-01	₹176 cr	1.4%	0.9x
2024-12	₹176 cr	1.4%	0.9x
2024-11	₹176 cr	1.4%	0.9x
2024-10	₹176 cr	1.4%	0.9x
2024-09	₹176 cr	1.4%	0.9x
2024-08	₹176 cr	1.4%	0.9x
2024-07	₹176 cr	1.4%	0.9x
2024-06	₹176 cr	1.4%	0.9x
2024-05	₹176 cr	1.4%	0.9x
2024-04	₹176 cr	1.4%	0.9x
2024-03	₹176 cr	1.4%	0.9x
2024-02	₹176 cr	1.4%	0.9x
2024-01	₹176 cr	1.4%	0.9x
2023-12	₹176 cr	1.4%	0.9x
2023-11	₹176 cr	1.4%	0.9x
2023-10	₹176 cr	1.4%	0.9x
2023-09	₹176 cr	1.4%	0.9x
2023-08	₹176 cr	1.4%	0.9x
2023-07	₹176 cr	1.4%	0.9x
2023-06	₹176 cr	1.4%	0.9x
2023-05	₹176 cr	1.4%	0.9x
2023-04	₹176 cr	1.4%	0.9x
2023-03	₹176 cr	1.4%	0.9x
2023-02	₹176 cr	1.4%	0.9x
2023-01	₹176 cr	1.4%	0.9x
2022-12	₹176 cr	1.4%	0.9x
2022-11	₹176 cr	1.4%	0.9x
2022-10	₹176 cr	1.4%	0.9x
2022-09	₹176 cr	1.4%	0.9x
2022-08	₹176 cr	1.4%	0.9x
2022-07	₹176 cr	1.4%	0.9x
2022-06	₹176 cr	1.4%	0.9x
2022-05	₹176 cr	1.4%	0.9x
2022-04	₹176 cr	1.4%	0.9x
2022-03	₹176 cr	1.4%	0.9x
2022-02	₹176 cr	1.4%	0.9x
2022-01	₹176 cr	1.4%	0.9x
2021-12	₹176 cr	1.4%	0.9x
2021-11	₹176 cr	1.4%	0.9x
2021-10	₹176 cr	1.4%	0.9x
2021-09	₹176 cr	1.4%	0.9x
2021-08	₹176 cr	1.4%	0.9x
2021-07	₹176 cr	1.4%	0.9x
2021-06	₹176 cr	1.4%	0.9x
2021-05	₹176 cr	1.4%	0.9x
2021-04	₹176 cr	1.4%	0.9x
2021-03	₹176 cr	1.4%	0.9x
2021-02	₹176 cr	1.4%	0.9x
2021-01	₹176 cr	1.4%	0.9x
2020-12	₹176 cr	1.4%	0.9x
2020-11	₹176 cr	1.4%	0.9x
2020-10	₹176 cr	1.4%	0.9x
2020-09	₹176 cr	1.4%	0.9x
2020-08	₹176 cr	1.4%	0.9x
2020-07	₹176 cr	1.4%	0.9x
2020-06	₹176 cr	1.4%	0.9x
2020-05	₹176 cr	1.4%	0.9x
2020-04	₹176 cr	1.4%	0.9x
2020-03	₹176 cr	1.4%	0.9x
2020-02	₹176 cr	1.4%	0.9x
2020-01	₹176 cr	1.4%	0.9x
2019-12	₹176 cr	1.4%	0.9x
2019-11	₹176 cr	1.4%	0.9x
2019-10	₹176 cr	1.4%	0.9x
2019-09	₹176 cr	1.4%	0.9x
2019-08	₹176 cr	1.4%	0.9x
2019-07	₹176 cr	1.4%	0.9x
2019-06	₹176 cr	1.4%	0.9x
2019-05	₹176 cr	1.4%	0.9x
2019-04	₹176 cr	1.4%	0.9x
2019-03	₹176 cr	1.4%	0.9x
2019-02	₹176 cr	1.4%	0.9x
2019-01	₹176 cr	1.4%	0.9x

Methodology and data notes