 |
Analyst Meet / AGM
16-Sep-11
|
|
|
|
|
|
|
|
AGM
|
|
|
|
Igarashi Motors India
|
|
Targets PAT of Rs 16-18 crore in FY 12
|
|
|
|
|
|
Igarashi Motors India held its 19th Annual General Meeting of the shareholders on 15th September 2010 in Chennai. Mr. Nohria, chairman of the company, addressed the shareholders on the performance of the company in financial year 2011.
Highlights of AGM:
- The company targets revenue of Rs 250 crore (from Rs 196.76 crore in FY 11, up by 27% y-o-y) and net profit of Rs 16-18 crore (from Rs 7.58 crore, up by 111% -138%) in FY 12 based on current scenario.
- It has earmarked capex of Rs 24 crore for FY 12 which would be utilized towards adding new motor line. The capex was Rs 12 crore in FY 11.
- In line with company's initiative to merge its Electric Motors operations in India into one entity, Agile electric would be merged with the company in next 12 to 18 months. As single entity, the company expects to generate revenue of over USD 100 million in 2 years and thereafter consider doubling it in next 3- 4 years.
- The company is optimistic of not being affected by the global scenario in FY 12 due to its geographical spread. The company shifted its focus towards Asia in FY 11 as per market developments. The geographical spilt of exports in FY 11 was 45% U.S., 27% Europe and 28% Asia.
- It expects the projects with Bosch to improve over the next three years.
- The company has so far de risked 90% of commodity movement through pass through clause.
- The company will not declare dividend till it has wiped out current accumulated loss of Rs 19 crore. It did not declare dividend for FY 11.
- Bosch Electrical Drives (BED) became an associate of the company in FY 11, as company raised its stake in BED to 26% in FY 11.
- In FY 11, Agile Electric Drives Technologies acquired stake of 62.94% in the company through preferential issue of shares and open offer at premium of Rs 66.30 per share. The funds raised were utilized towards debt clearance, capex etc
- In June 2011 quarter, the topline rose by 27% to Rs 57.64 crore. However fall in OPM by 50 bps to 13.4% limited the growth in operating profit to Rs 22% to Rs 7.7 crore. The bottomline surged by robust 52% to Rs 3.14 crore.
|
|
|
|
Previous News |
Igarashi Motors India
(
Results
-
Analysis
10-Feb-24
22:29
)
|
|
|
Igarashi Motors India commences operations at its units
(
Corporate News
-
31-May-21
21:12
)
|
|
|
Board of Igarashi Motors India recommends Final Dividend
(
Corporate News
-
23-May-24
14:42
)
|
|
|
Igarashi Motors India reports standalone net loss of Rs 10.52 crore in the June 2020 quarter
(
Results
-
Announcements
04-Aug-20
15:48
)
|
|
|
Igarashi Motors India to announce Quarterly Result
(
Corporate News
-
05-Feb-19
11:01
)
|
|
|
Igarashi Motors India announces board meeting date
(
Corporate News
-
02-Aug-22
10:49
)
|
|
|
Igarashi Motors India reschedules AGM date
(
Corporate News
-
23-Jul-21
11:02
)
|
|
|
Igarashi Motors India to table results
(
Corporate News
-
04-Feb-20
14:18
)
|
|
|
Igarashi Motors India to hold board meeting
(
Corporate News
-
14-Jan-15
10:28
)
|
|
|
Igarashi Motors India
(
Analyst Meet / AGM
-
AGM
09-Oct-07
12:37
)
|
|
|
Igarashi Motors India to hold board meeting
(
Corporate News
-
25-Oct-16
11:23
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|