India Motor Parts & Accessories Ltd.

•

impal.netBSE: 590065NSE: IMPAL

Market Cap₹ 1,392 Cr.

Current Price

High / Low₹ 1,239 / 928

Stock P/E17.7

Book Value—

Price to Book0.58

Dividend Yield2.96 %

ROCE5.3 %

ROE4.3 %

Face Value₹ 10

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Oil Gas & Consumable Fuels

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Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company is almost debt free
Promoters have been increasing their shareholding - up 4.5pp over 2 years
Company has consistently been profitable over the last 5 years
Company has been maintaining a healthy dividend payout of 45.6%
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (38.8% of PBT)
Company has a low return on capital employed of 6.1%
Company has a low return on equity of 4.9% over last 3 years
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.27x)
Operating margins have contracted to 7.7% from 12.8%
Company has delivered a poor sales growth of 7.2% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	ADANIENT	2894.80	52.64	391875.62	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	999.50	27.25	45372.45	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	CPPLUS	3715.75	92.10	43957.48	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
4.	AEGISLOG	1242.80	34.86	43622.28	0.70	544.84	210.70	2356.86	37.07	19.76	30.28
5.	REDINGTON	363.00	16.68	28378.41	1.65	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.45	61.63	15337.81	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	70.95	96.45	10830.89	0.21	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	825.65	83.70	10406.10	0.00	455.80	1310.71	13085.70	1044.08	10.43	4.49
9.	MMTC	62.14	20.84	9321.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1799.70	62.46	7832.85	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	346.70	24.48	7658.08	0.43	734.02	810.12	5267.16	895.66	17.15	18.80
12.	IMPAL	1115.00	17.74	1391.52	2.96	22.60	7.31	190.40	4.79	5.03	7.56

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	177	189	176	191	170	195	182	186	179	198	190
	157	173	162	176	151	180	168	173	164	183	176
Operating Profit	20	16	14	15	19	15	14	14	15	15	14
OPM %	11.44%	8.50%	7.91%	7.92%	11.17%	7.64%	7.56%	7.25%	8.29%	7.44%	7.56%
Other Income	6	1	11	4	15	7	12	7	10	10	15
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
	26	17	25	18	33	21	25	20	25	25	29
Tax %	19.87%	14.10%	18.23%	26.80%	20.08%	15.45%	17.12%	23.55%	19.53%	16.17%	22.47%
Net Profit	0	0	0	13	25	18	21	15	20	21	23
	18	12	17	10	20	14	17	12	16	17	18
Equity Capital	12	12	12	12	12	12	12	12	12	12	12
Reserves	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	502	519	479	524	532	532	646	726	741	753
	471	484	444	481	497	486	588	662	684	696
Operating Profit	39	47	45	59	62	68	73	95	92	—
OPM %	8	9	9	11	12	13	11	13	12	—
Other Income	7	11	9	16	26	22	15	31	35	42
Interest	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	1	1
	38	46	44	58	61	67	76	94	91	99
Tax %	30	30	29	29	19	23	20	20	19	20
Net Profit	27	32	31	41	50	51	61	75	74	78
EPS	0	0	0	0	0	42	49	60	59	—
Dividend Payout %	28	28	29	36	25	24	27	40	46	—
Minority Interest	0	0	-0	-0	-0	-0	-0	0	0	0
Share of Associates	0	0	0	0	0	2	0	0	0	0
Adjusted EPS	21	26	25	33	40	42	49	60	59	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 7%
3 Years:: 12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 12%
3 Years:: 12%

STOCK PRICE CAGR

10 Years:: 7%
5 Years:: 7%
3 Years:: 10%
1 Year:: 9%

RETURN ON EQUITY

10 Years:: —
5 Years:: 5%
3 Years:: 5%
Last Year:: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
LIABILITIES	-	-	-	-	-	-	-	-	-
Equity Capital	8	8	8	8	12	12	12	12	12
	224	740	872	1,004	926	1,428	1,222	1,356	2,058
	13	12	19	14	14	0	5	0	0
Trade Payables	36	42	42	44	36	74	62	59	61
	10	16	14	65	69	116	67	75	179
Total Liabilities	292	819	955	1,135	1,057	1,631	1,369	1,502	2,311
ASSETS	-	-	-	-	-	-	-	-	-
	11	14	16	17	17	17	17	19	20
	116	675	791	962	858	1,412	1,168	1,286	2,063
	49	45	53	56	63	51	69	82	78
	0	0	0	0	0	0	0	0	98
Cash & Bank	56	14	23	17	26	68	16	17	44
	61	71	72	83	92	84	99	98	8
Total Assets	292	819	955	1,135	1,057	1,631	1,369	1,502	2,311
Total Debt	13	12	19	14	14	0	5	0	0
Net Working Capital	167	195	188	302	290	304	227	206	206
Contingent Liabilities	0	0	0	0	0	0	0	0	1
Book Value per Share	279.72	899.90	1057.97	1216.84	751.92	1154.63	988.81	1096.25	1658.79
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	32	23	11	16	3	91	-2	32	27
Cash from Investing	-14	-57	-4	-5	40	-73	-7	3	15
Cash from Financing	-21	-5	2	-17	-33	-14	-8	-33	-30
	-3	-40	9	-6	9	5	-17	2	12
Free Cash Flow	32	23	7	14	2	91	-3	29	27
OCF / Net Profit	1.20	0.72	0.35	0.38	0.06	1.79	-0.04	0.43	0.36
Cumulative 5-Year FCF	0	0	0	0	0	137	111	133	146

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
PER SHARE
EPS (₹)	32.13	38.73	37.69	49.66	39.70	42.38	48.68	60.21	59.23
Book Value (₹)	279.72	899.90	1057.97	1216.84	751.92	1154.63	988.81	1096.25	1658.79
Dividend per Share (₹)	9.00	11.00	11.00	18.00	10.00	10.00	13.00	24.00	27.00
Cash EPS (₹)	21.92	26.35	25.65	33.83	40.58	41.73	49.42	60.95	60.18
PROFITABILITY
Operating Margin %	7.68%	8.98%	9.32%	11.31%	11.68%	12.76%	11.36%	13.04%	7.68%
Net Margin %	5.30%	6.18%	6.49%	7.87%	9.31%	9.63%	9.42%	10.35%	9.97%
ROE %	11.43%	6.54%	3.82%	4.36%	5.08%	4.30%	4.55%	5.78%	4.30%
ROCE %	15.34%	9.10%	5.27%	6.06%	6.18%	5.59%	5.67%	7.19%	5.30%
	9.12%	5.77%	3.51%	3.95%	4.52%	3.81%	4.06%	5.24%	3.88%
EFFICIENCY
Debtor Days	40	40	48	49	53	54	48	46	47
Inventory Days	35	33	37	38	41	39	34	38	39
Payable Days	30	32	38	36	32	45	46	36	35
	46	41	47	52	61	47	35	47	51
FINANCIAL HEALTH
Debt to Equity (x)	0.06x	0.02x	0.02x	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	0.00x	0.00x	0.00x	711.20x	555.45x	291.00x	474.75x	9373.00x	4552.00x
	3.90x	4.09x	3.78x	5.68x	6.07x	4.66x	3.84x	3.95x	3.81x
GROWTH
Revenue Growth %	0.00%	3.40%	-7.67%	9.42%	1.57%	-0.17%	21.55%	12.36%	2.10%
Operating Profit Growth %	0.00%	21.02%	-4.25%	32.84%	4.84%	9.09%	8.21%	28.97%	-2.57%
Net Profit Growth %	0.00%	20.54%	-2.98%	32.53%	20.23%	3.25%	18.91%	23.44%	-1.62%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1.62%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.24x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.58x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.81%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.54x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	30.71	30.71	30.71	30.71	33.81	33.81	33.81	33.81	35.21
	8.08	7.88	7.89	7.89	3.77	3.60	3.60	3.60	0.76
	2.49	2.49	2.49	2.49	1.38	1.34	1.34	1.34	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	58.71	58.92	58.90	58.91	61.04	61.25	61.25	61.25	64.03

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-07-31

Copy of Newspaper Publication

2026-07-31 - India Motor Parts and Accessories Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-30

Outcome of Board Meeting

2026-07-30 - India Motor Parts and Accessories Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-23

Shareholders meeting

2026-07-23 - India Motor Parts and Accessories Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 21, 2026

2026-07-21

Shareholders meeting

2026-07-21 - India Motor Parts and Accessories Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 21, 2026

2026-07-09

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-09 - India Motor Parts and Accessories Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-06-29

Copy of Newspaper Publication

2026-06-29 - India Motor Parts and Accessories Limited has informed the Exchange about Copy of Newspaper Publication

2026-06-27

Shareholders meeting

2026-06-27 - India Motor Parts and Accessories Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on July 21, 2026

2026-06-26

Trading Window

2026-06-26 - India Motor Parts and Accessories Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-13

Copy of Newspaper Publication

2026-06-13 - India Motor Parts and Accessories Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for IMPAL

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Name

ADANIENT

2894.80

52.64

391875.62

0.04

-1461.54

-249.67

32923.98

49.92

13.30

15.57

PREMIERENE

999.50

27.25

45372.45

0.10

471.92

53.32

2462.59

35.25

33.72

29.03

CPPLUS

3715.75

92.10

43957.48

0.04

142.20

332.51

1402.42

89.51

29.48

14.52

AEGISLOG

1242.80

34.86

43622.28

0.70

544.84

210.70

2356.86

37.07

19.76

30.28

REDINGTON

363.00

16.68

28378.41

1.65

453.49

94.65

34922.47

34.57

18.96

2.03

HONASA

470.45

61.63

15337.81

0.64

90.45

118.87

755.95

27.00

8.99

14.58

LLOYDSENT

70.95

96.45

10830.89

0.21

109.98

-55.77

563.03

70.15

12.84

18.07

SGMART

825.65

83.70

10406.10

0.00

455.80

1310.71

13085.70

1044.08

10.43

4.49

MMTC

62.14

20.84

9321.00

0.00

104.24

135.52

0.68

-50.00

33.46

-1423.53

ENTERO

1799.70

62.46

7832.85

0.00

52.05

72.17

1940.50

38.23

10.93

5.00

CELLO

346.70

24.48

7658.08

0.43

734.02

810.12

5267.16

895.66

17.15

18.80

IMPAL

1115.00

17.74

1391.52

2.96

22.60

7.31

190.40

4.79

5.03

7.56

Mar 2022

Jun 2022

Sep 2022

Dec 2022

Mar 2023

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

177

189

176

191

170

195

182

186

179

198

190

157

173

162

176

151

180

168

173

164

183

176

Operating Profit

OPM %

11.44%

8.50%

7.91%

7.92%

11.17%

7.64%

7.56%

7.25%

8.29%

7.44%

7.56%

Other Income

Interest

Depreciation

Tax %

19.87%

14.10%

18.23%

26.80%

20.08%

15.45%

17.12%

23.55%

19.53%

16.17%

22.47%

Net Profit

Equity Capital

Reserves

Promoter Pledge %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

TTM

502

519

479

524

532

646

726

741

753

471

484

444

481

497

486

588

662

684

696

Operating Profit

—

OPM %

—

Other Income

Interest

Depreciation

Tax %

Net Profit

EPS

—

Dividend Payout %

—

Minority Interest

-0

Share of Associates

Adjusted EPS

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

LIABILITIES

Equity Capital

224

740

872

1,004

926

1,428

1,222

1,356

2,058

Trade Payables

116

179

Total Liabilities

292

819

955

1,135

1,057

1,631

1,369

1,502

2,311

ASSETS

116

675

791

962

858

1,412

1,168

1,286

2,063

Cash & Bank

Total Assets

292

819

955

1,135

1,057

1,631

1,369

1,502

2,311

Total Debt

Net Working Capital

167

195

188

302

290

304

227

206

Contingent Liabilities

Book Value per Share

279.72

899.90

1057.97

1216.84

751.92

1154.63

988.81

1096.25

1658.79

Face Value

10.00

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

-2

Cash from Investing

-14

-57

-4

-5

-73

-7

Cash from Financing

-21

-5

-17

-33

-14

-8

-33

-30

-3

-40

-6

-17

Free Cash Flow

-3

OCF / Net Profit

1.20

0.72

0.35

0.38

0.06

1.79

-0.04

0.43

0.36

Cumulative 5-Year FCF

137

111

133

146

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

PER SHARE

EPS (₹)

32.13

38.73

37.69

49.66

39.70

42.38

48.68

60.21

59.23

Book Value (₹)

279.72

899.90

1057.97

1216.84

751.92

1154.63

988.81

1096.25

1658.79

Dividend per Share (₹)

9.00

11.00

18.00

10.00

13.00

24.00

27.00

Cash EPS (₹)

21.92

26.35

25.65

33.83

40.58

41.73

49.42

60.95

60.18

PROFITABILITY

Operating Margin %

7.68%

8.98%

9.32%

11.31%

11.68%

12.76%

11.36%

13.04%

7.68%

Net Margin %

5.30%

6.18%

6.49%

7.87%

9.31%

9.63%

9.42%

10.35%

9.97%

ROE %

11.43%

6.54%

3.82%

4.36%

5.08%

4.30%

4.55%

5.78%

4.30%

ROCE %

15.34%

9.10%

5.27%

6.06%

6.18%

5.59%

5.67%

7.19%

5.30%

9.12%

5.77%

3.51%

3.95%

4.52%

3.81%

4.06%

5.24%

3.88%

EFFICIENCY

Debtor Days

Inventory Days

Payable Days

FINANCIAL HEALTH

Debt to Equity (x)

0.06x

0.02x

0.01x

0.00x

Interest Coverage (x)

0.00x

711.20x

555.45x

291.00x

474.75x

9373.00x

4552.00x

3.90x

4.09x

3.78x

5.68x

6.07x

4.66x

3.84x

3.95x

3.81x

GROWTH

Revenue Growth %

0.00%

3.40%

-7.67%

9.42%

1.57%

-0.17%

21.55%

12.36%

2.10%

Operating Profit Growth %

0.00%

21.02%

-4.25%

32.84%

4.84%

9.09%

8.21%

28.97%

-2.57%

Net Profit Growth %

0.00%

20.54%

-2.98%

32.53%

20.23%

3.25%

18.91%

23.44%

-1.62%

0.00%

-1.62%

VALUATION

P/E (x)

0.00x

16.24x

P/B (x)

0.00x

0.58x

Dividend Yield %

0.00%

2.81%

0.00x

12.54x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

30.71

33.81

35.21

8.08

7.88

7.89

3.77

3.60

0.76

2.49

1.38

1.34

0.00

Government

0.00

58.71

58.92

58.90

58.91

61.04

61.25

64.03

India Motor Parts & Accessories Ltd.

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Quarterly Results

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India Motor Parts & Accessories Ltd.

AI Sector View

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Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

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Documents

News

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