Chennai-based Igarashi Motors India Limited, a key player in electric motors and components for the automotive industry, announced impressive first-quarter results for the period ending June 30, 2024. The company’s shares surged 11% following the news.
For Q1 FY2025, Igarashi Motors reported a net profit of ₹8.16 crore, a dramatic increase of 472% compared to ₹1.43 crore in the same quarter last year. This boost in profitability was driven by significant revenue growth and enhanced operational efficiency.
Revenue from operations rose by 32% to ₹222.07 crore, up from ₹168.25 crore in Q1 FY2024. The growth was led by increased demand in both automotive and non-automotive sectors. The automotive division contributed ₹175.44 crore to the revenue, while the non-automotive segment added ₹46.63 crore.
The company’s EBITDA for the quarter reached ₹26.68 crore, reflecting improved cost management and operational efficiency. As of June 30, 2024, Igarashi Motors had total assets of ₹794.51 crore and an equity base of ₹454.85 crore.
Igarashi Motors continues to focus on innovation and expanding its product range, investing in research and development to meet the rising demand for electric vehicle components. Despite facing challenges like global supply chain disruptions and economic uncertainties, the company is well-positioned for future growth.
