Igarashi Motors India

What Igarashi Motors India does

Igarashi Motors India Limited (IMIL) is a Chennai-headquartered, publicly listed (BSE: 517380, NSE: IGARASHI) manufacturer of Permanent Magnet DC Motors for the automotive sector, with a core focus on actuator motors for passenger car applications — most prominently Electronic Throttle Control (ETC). Originally incorporated in 1992 as CG Igarashi Motors Limited, a joint venture between Crompton Greaves, Igarashi Electric Works Ltd (Japan), and International Components Corporation (USA), the company was renamed in 2003 and has been consolidated under the Igarashi Japan Group since 2015. Since 1996, IMIL has populated over 500 million DC motors into global passenger car platforms, supported by a multi-decade track record and in-house R&D in motor control, power electronics, and embedded systems.

The product portfolio centers on PMDC motors (including the SQ-2846, SQ3264, SQ3657, SQ3365, SQ-3655, SQ-2848, SQ-3458, 3657, and 3665 series) and extends to BLDC motor electronics (controllers for ceiling fans, coolers, and water pumps), automotive-grade electronics (TOCD Motor EMC PCBs, HLL Controller PCBs), non-automotive electronics (BLDC fan controller PCBs, IoT PCB assembly, metal clad LED PCB assembly), and a Sub-Assembly & Transformer platform launched in 2004. Manufacturing is anchored at two units inside the MEPZ-SEZ in Tambaram, Chennai, leveraging SEZ tax benefits for an export-oriented model.

IMIL operates a B2B OEM-embedded go-to-market: custom-made products are supplied directly to global passenger car OEMs and Tier-1 suppliers under long-term contracts, with go-to-market support from the Igarashi Group's sales offices in the USA (St. Charles), Germany (Burgthann), Hong Kong, China (Shenzhen), and Korea (Asan-Shi). The pricing model is not publicly disclosed and is negotiated per OEM engagement. FY2026 revenue (year ended March 2026) was Rs 865.92 crore with net profit of Rs 12.15 crore, indicating top-line growth of 3.28% YoY against a 49.73% YoY decline in profitability, while the non-automotive segment contracted 33.64% YoY in Q3 FY26 — together pointing to margin pressure that warrants monitoring.

Name

Igarashi Motors India

Legal name

Igarashi Motors India Limited

Website

https://igarashimotors.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Igarashi Motors India Limited manufactures Permanent Magnet DC Motors for global passenger car OEMs, specializing in Electronic Throttle Control actuator motors. Part of the Igarashi Japan Group, the Chennai-based company exports custom-made motors and BLDC/automotive electronics worldwide.

Ownership category

akta.pro rank

Product category

Automotive DC Motors

NAICS

Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632), Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320), Other Motor Vehicle Parts Manufacturing (336390)

SIC

Motors & Generators (3621), Motor Vehicle Parts & Accessories (3714), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro industry

PRIMARYIMACAJAL

Automotive Electric Motors & Actuators Manufacturing (EPS/Brake-by-wire/Seat/Window)

Industrials, Manufacturing & Construction/Automotive & Mobility Manufacturing/Automotive Electrical & Electronics Manufacturing (ECUs/Sensors/Wiring/Lighting)

SECONDARYIMAGACAB

DC Motors (Brushed, Brushless DC)

Industrials, Manufacturing & Construction/Electrical Equipment & Industrial Electronics/Motors, Drives & Motion Control (Motors, VFDs, Servos)

SECONDARYIMACAAAK

Passenger Vehicle Electrical & Electronics Manufacturing (ICE)

Industrials, Manufacturing & Construction/Automotive & Mobility Manufacturing/Passenger Vehicle Manufacturing (ICE)

Keywords

• Permanent magnet DC motors
• Automotive actuator motors
• Electronic throttle control motors
• BLDC motor controllers
• Automotive electronics manufacturing

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Others

Revenue model

1. DC Motor Manufacturing & Export: Production and export of Permanent Magnet DC Motors for automotive applications, specifically targeting passenger car manufacturers. Products are custom-made to meet customer specifications. Revenue generated through direct OEM supply contracts.
2. Electronics Design & Manufacturing: Electronics manufacturing services for both automotive and non-automotive electronics including BLDC fan controllers, IOT PCB assembly, and metal cladded LED PCB assembly.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Igarashi Motors India manufactures and exports Permanent Magnet DC Motors primarily for the global passenger car automotive sector, with Electronic Throttle Control (ETC) actuators as the flagship application. Its portfolio also includes BLDC motor controllers, automotive electronics PCBs, non-automotive electronics (IoT PCBs, BLDC fan controllers, LED PCB assemblies), and a Sub-Assembly & Transformer platform. Products are custom-made to OEM specifications and supplied through long-term contracts to passenger car manufacturers and Tier-1 suppliers worldwide.

Product overview

Igarashi Motors India Ltd (IMIL) operates as a specialized manufacturer of Permanent Magnet DC Motors for the automotive sector, with Electronic Throttle Control (ETC) as the primary application. The company offers a comprehensive portfolio centered around Actuator Motors (DC Motors), having produced over 500 Million units since 1996. The product suite spans multiple DC motor model series (SQ-2846, SQ3264, SQ3657, SQ3365, SQ-3655, SQ-2848, SQ-3458, 3657, 3665), complemented by Electronics Design & Manufacturing capabilities including BLDC motor control systems, automotive electronics (TOCD Motor EMC PCBs, HLL Controller PCBs), and non-automotive electronics (BLDC fan controllers, IoT PCB Assembly, Metal Clad LED PCBs). Since 2004, the company has also offered Sub-Assembly & Transformer platforms. Each product is custom-made to meet customer specifications, with a focus on niche automotive applications.

Differentiator

Problem solved

Functional benefit

Products and services

• Permanent Magnet DC Motors IMIL's primary product line consisting of custom-made Permanent Magnet DC Motors for passenger car automotive applications, with Electronic Throttle Control (ETC) as the flagship use case. Over 500 million motors have been delivered globally for actuator applications in passenger cars since 1996.
• Actuator Motors for Passenger Cars DC motors used in actuator applications and systems in passenger cars, supplied to global automotive OEMs and Tier-1 suppliers.
• DC Motor Product Series (SQ-2846, SQ3264, SQ3657, SQ3365, SQ-3655, SQ-2848, SQ-3458, 3657, 3665) Distinct DC motor model configurations for automotive actuator applications, each representing a specific motor form factor for passenger car use cases.
• BLDC Motor Electronics – Design & Development Complete BLDC controller solutions for ceiling fans with high-efficiency motor control algorithms, scalable designs across value and premium fan segments. Includes BLDC controllers for coolers and water pump applications.
• Automotive Electronics (TOCD Motor EMC PCBs, HLL Controller PCBs) High-reliability automotive-grade electronics manufacturing including TOCD Motor EMC PCBs and HLL Controller PCBs, compliant with automotive reliability and process standards.
• Non-Automotive Electronics (BLDC Fan Controller PCBs, IoT PCB Assembly, Metal Clad LED PCB Assembly) Electronics manufacturing services for non-automotive applications, including BLDC fan controller PCBs, IoT PCB assembly, and metal clad LED PCB assembly.
• Sub-Assembly & Transformer Platform Value-added sub-assembly and transformer products that complement the core motor offerings and enhance system integration capabilities for automotive and motor applications.

Quantifiable outcome

• 500+ million DC motors delivered for actuator applications in passenger cars globally since 1996
• +1 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• Agile Electric Sub Assembly Private LimitedcoreStrategic or Co-development PartnerRelated party - Agile is engaged in manufacture of electric generators, alternators, sub-assemblies, AC motors, and assembly lines. Igarashi Electric Works Ltd, Japan is the majority shareholder and promoter of Agile. Agile has five manufacturing units in MEPZ-SEZ, Tambaram and two units at Maraimalai Nagar, Kancheepuram Dist.
• Igarashi Motor Sales USA, LLCcoreChannel Partner/ Reseller/ DistributorRegional sales office for North, Central & South America markets. Located in St. Charles, Illinois, USA. Handles DC electrical motors for applications in automotive, appliance and office equipment.
• Igarashi Motoren GmbHcoreChannel Partner/ Reseller/ DistributorRegional sales office for Europe. Located in Burgthann-Ezelsdorf, Germany. Part of Igarashi Group's global sales network.
• Igarashi Electric Works Ltd, JapanflagshipStrategic or Co-development PartnerParent company and key promoter. Engages in development, production, and sale of small DC motors globally. Founded in 1946, based in Kawasaki-shi, Japan. IEWL consolidated its stake in IMIL by acquiring exited JV partners over time. Currently drives the 'One Igarashi Program' across global entities.
• Igarashi Electric Works (H.K.) LimitedcoreChannel Partner/ Reseller/ DistributorHong Kong regional office. Part of Igarashi Group's Asia-Pacific sales network.
• Igarashi Electric Works - ChinacoreTechnology or IntegrationManufacturing facility in Shenzhen, China. Located at No. 77, Hengping Road, Renxin Dafu Industrial Zone, Bao'an Community, Yuanshan Sub-district, Longgang District, Shenzhen City, Guangdong Province.
• BAESUNG IGARASHI Co., LtdminorChannel Partner/ Reseller/ DistributorKorean joint venture/partnership in Asan-Shi, Chung Cheong Nam-Do, Korea.

Scale indicators6 records

Recent moves13 records

Expansion highlights5 records

Broad incumbents

• Denso Corporation: Denso (Japan) is a major global automotive Tier-1 supplier of throttle bodies and electronic control units with deep Japanese OEM relationships — overlapping with IMIL's Japanese parent network and passenger car customer base.
• Continental AG: Continental (Germany) supplies electronic throttle control systems and integrated powertrain domain controllers to global OEMs — a Tier-1 customer/competitor to IMIL's ETC motor role.
• BorgWarner: BorgWarner is a global automotive powertrain and drivetrain supplier with throttle control and emissions-related actuator products — broader scope than IMIL but overlapping automotive actuator motor supply to OEMs.
• Nidec Corporation: Nidec (Japan) is one of the world's largest motor manufacturers with a broad automotive motor portfolio spanning traction motors, EPS motors, and small DC actuators — broader scale and scope than IMIL, but with overlapping small motor/actuator product capabilities.
• Bosch (Robert Bosch): Bosch is a global automotive Tier-1 supplier of drive-by-wire throttle bodies and integrated electronic throttle control systems — directly adjacent to IMIL's ETC actuator motor supply role, but as a vertically integrated Tier-1 vs. IMIL's sub-component supplier position.

Direct peers

• Maxon Motor: Maxon Motor (Switzerland) is a precision DC and BLDC motor manufacturer with strong automotive and industrial actuator applications — comparable DC/BLDC product technology and precision actuator positioning to IMIL.
• Johnson Electric: Johnson Electric (Hong Kong) is a leading global supplier of motion subsystems including DC motors and brushless DC motors for automotive throttle, HVAC, and seat actuation — overlapping directly with IMIL's automotive DC motor and actuator product line.
• Mabuchi Motor: Mabuchi Motor (Japan) is the world's largest manufacturer of small DC motors, supplying automotive actuator applications including throttle bodies, HVAC actuators, and mirror motors — directly comparable to IMIL's Permanent Magnet DC motor portfolio for ETC and similar passenger car actuator applications.
• Allied Motion Technologies: Allied Motion (USA) manufactures precision DC motors, brushless motors, and motion control products for vehicle and industrial applications — comparable product scope to IMIL's DC motor and BLDC electronics business.
• Minebea Mitsumi: Minebea Mitsumi (Japan) is a global manufacturer of small precision motors including DC motors for automotive applications and BLDC motors for industrial/consumer use — closely comparable to IMIL's product mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/igarashi-electric-works-shenzhen-ltd.

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Igarashi Motors India