Igarashi Motors Q3 Results: Shares fall 5% after profit drops 33%, margin contracts

Shares of Igarashi Motors India Ltd fell nearly 5% on Wednesday after the company reported a sharp decline in profitability for the December quarter.

For Q3 FY26, net profit declined 32.7% year-on-year to ₹3.5 crore, compared with ₹5.2 crore in the corresponding quarter last year. Revenue, however, rose 2.5% to ₹216 crore from ₹210.8 crore a year earlier, indicating modest top-line growth.

The stock was trading at ₹392.50, down 4.73% on the NSE as of 1:55 PM, after hitting an intraday low of ₹382.55

following the earnings announcement.

Operating performance remained under pressure. EBITDA fell 14.8% to ₹20.2 crore from ₹23.7 crore in the year-ago period. Consequently, the EBITDA margin contracted to 9.4% from 11.3% last year, reflecting tighter operating spreads during the quarter.

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The divergence between revenue growth and earnings performance suggests margin pressures weighed on the company’s bottom line during the period.

Igarashi Motors India Ltd is engaged in the manufacture of small electric motors, primarily catering to the automotive sector, including applications such as power windows, seats and other vehicle systems.