Annual Report Review | Igarashi Motors India Limited

IGARASHI MOTORS INDIA LIMITED

Igarashi Motors (IMIL) is primarily engaged in the production and export of permanent magnet DC Motors for Automotive sector specifically for passenger cars.

IMIL products key application is Electronic Throttle Control (ETC).

IMIL is a leading Global Automotive component Market player in Actuator Motors (a variety of DC Motors)

Since 1996, IMIL in global automotive component industry populated over 500 Million DC Motors for usage in actuator application/systems in passenger cars.

PRODUCTS MANUFACTURED

HISTORY OF IGARASHI MOTORS

The company was originally incorporated as CG Igarashi Motors Limited (CGIML) on January 10, 1992 as a joint venture between Crompton Greaves Limited, India, Igarashi Electric Works Limited (IEWL), Japan and International Components Corporation, USA.

Since 1993, the company shares are listed on NSE and BSE.

Over a period, (IEWL) consolidated its stake in a company by acquiring Stake of exited JV partners.

The Company's name was changed from CGIML to Igarashi Motors India Limited from July 13, 2003.

GROWTH IN SHARE PRICE AS COMPARED TO SENSEX AND NIFTY

FINANCIAL OVERVIEW

Sales

Cumulative Sales

Sales (Geographically)

Important ratios

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Cost spends in CSR activities : 2.10 Cr

DEBT ON COMPANY

Debt on company : 118.58 Cr

PROMOTER'S SHAREHOLDING

Shareholding of promoter : 75 %

HOLDING/PARENT COMPANY

Parent company : Igarashi Electric Works Limited, Japan

PEER COMPANIES

Top 10 peer companies are TD power system, Bharat Bijlee, CG power, Elpro Int, INOX wind, Honda siel, Voltamp Transformers, Suzlon Energy, V-Guard Industries, ABB India, Havells India

All the above listed companies are into the same sector but not in the specific product category. The above company mostly manufacture Transformers, AC motor, DC Motors (large dc motors) and other electric equipments

None of the above listed companies manufacture DC Motor(small motors for auto industry).

Hence, it can be stated that Igarashi Motors is a market leader in the small automotive DC motor segment.

Igarashi Motors develops and manufactures DC Motors for automotive industry. Hence, it is important to know the market trend of auto industry also.

Automotive Trend and market

For the FY 18-19, sales of light vehicle was slightly lower than that in FY 17 (i.e.. 95 million units).
Global Automotive sale declined by 7%
According to experts, In the next 10 years Automotive volume estimated 105-115 million units per year.

Electric motors in automotive

Innovation and Technology upgrades have created Momentum to drive growth.
15 years ago, 15 motor per vehicle where used which has now increased to 35 electric motors per vehicle. This shows the growth opportunity to grow even higher.
Action on emission control and fuel economy and progress towards electric vehicles also lead to increase in demand.

Use of Electric DC Motor in automotive

Wipers for rear windscreen, headlight, wiper, and motor for windshield spray pump.
Electric oil pump, air pump, vacuum pump, and water pump requires motor
Comfort system continuous higher usage of electric motors of body seat and interiors.
Electric motor used in Anti Lock Braking System (ABS) and Electric Park Brake (EPB).
Power steering, all wheel drive, alternator, Starter, Motor for under the Hood actuators.