IGARASHIIgarashi Motors India Ltd.
Igarashi Motors India Q2 FY27 Results: Standalone Net Profit ₹6.39 Crore on Total Income of ₹256 Crore
- Earnings
- Automotive components
Reviewed byRachit TripathiBlacklitt Research
Igarashi Motors India (NSE: IGARASHI) reported total income of ₹255.76 crore and net profit of ₹6.39 crore for the quarter ended 30 Sep 2026, on a standalone basis, it said in a filing on 05 Nov 2026.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹255.76 crore, up 16.6% YoY and 1.6% QoQ
- Net profit and EPS: ₹6.39 crore, up 40.8% YoY and down 5.6% QoQ; basic EPS ₹2.03
- Finance costs: ₹2.67 crore, down 17.9% YoY and up 1.8% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 255.76 | 219.29 | +16.6% | 251.84 | +1.6% | |
| Revenue from operations | 255.43 | 219.14 | +16.6% | 250.87 | +1.8% |
| Other income | 0.33 | 0.14 | +131.6% | 0.97 | -66.2% |
| 6.39 | 4.54 | +40.8% | 6.77 | -5.6% | |
| Profit before tax | 8.17 | 6.18 | +32.3% | 7.16 | +14.2% |
| Finance costs | 2.67 | 3.26 | -17.9% | 2.63 | +1.8% |
| Depreciation | 15.93 | 14.18 | +12.4% | 15.70 | +1.4% |
| Tax expense | 1.78 | 1.64 | +8.7% | 0.39 | +356.1% |
| Net profit margin | 2.50% | 2.07% | +0.43 pp | 2.69% | -0.19 pp |
| EPS, basic (₹) | 2.03 | 1.44 | +41.0% | 2.15 | -5.6% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than income. Net profit rose 40.8% YoY to ₹6.39 crore while total income rose 16.6%, and profit before tax rose 32.3% to ₹8.17 crore. Tax expense of ₹1.78 crore is 21.8% of profit before tax, up from ₹1.64 crore a year earlier on a lower profit before tax of ₹6.18 crore.
Other income is small relative to the business. Other income of ₹0.33 crore is 0.1% of total income and 4.0% of profit before tax, so revenue from operations of ₹255.43 crore carries almost all of the quarter's income. Finance costs of ₹2.67 crore are 1.0% of total income, down from ₹3.26 crore a year earlier.
The quarter's current tax includes a reversal of prior-year tax provisions of ₹30.10 lakhs from favorable tax orders, and the June 2026 quarter included ₹1.43 crore of the same kind. The half-year reversal totals ₹1.73 crore, or ₹1.73 crore. The filing does not say how much of the tax expense this reduced for the quarter beyond this amount.
Against the June 2026 quarter, net profit fell 5.6% to ₹6.39 crore while total income rose 1.6%. Depreciation of ₹15.93 crore is up 12.4% on a year earlier. For the half year, profit for the period was ₹13.16 crore against ₹7.05 crore, and basic EPS was ₹4.18 against ₹2.24.
Igarashi Motors India reports two segments, Automotive and Non-automotive. The company has no subsidiary, associate or joint venture as on 30 Sep 2026.
The company had a market value of ₹1,213 crore at the 04 Nov 2026 close of ₹385.45 a share. Its latest reported quarter, June 2026, had total income of ₹251.84 crore and net profit of ₹6.77 crore.
Dividends paid in the half year were ₹4.09 crore against ₹7.87 crore a year earlier. Net cash generated from operating activities was ₹38.70 crore for the half year against ₹46.15 crore.
Inference
The statutory auditors, B S R & Co. LLP, issued an unqualified limited review report on the results. The filing does not state a reason for the fall in finance costs or for the change in cash and cash equivalents, and it does not say whether a dividend has been declared for the current period.
The filing does not say whether the favorable tax orders behind the prior-year reversals will recur.
Filed with BSE on . Reference: Original filing (PDF)
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