India Motor Parts & Accessories Ltd

IMPAL

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Market Cap

₹ 1,290 Cr

P/E

16.44

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Investment Checklist

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Performance

STEADY PERFORMER

Valuation

REASONABLE

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bullish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

Indian Motor Parts & Accessories Limited (IMPAL) is a distributor of automobile spare parts, dealing in a range of components including engine parts, brake systems, and auto electricals.

IMPAL is part of the TVS Group and has a nationwide distribution network, making it one of the few all-India distributors in its sector.

The company has strategically expanded its branch network over the years, including new branches opened in 2019 and 2024, boosting its regional presence.

In 2023, IMPAL sold part of its holding in Transenergy Private Limited, affecting its corporate associate relationships.

With the acquisition of CAPL Motor Parts Private Limited, IMPAL has enhanced its footprint, indicating a focus on scalability and operational growth.

Sector

Auto Ancillaries

Industry

Auto Ancillaries - Trading

Market Cap

1,290 Cr

Volatility

Moderate Risk

P/E Ratio

16.4

Industry P/E

45.7

PEG Ratio

1.2

P/B Ratio

0.5

52W High

1,331.50

52W Low

836.00

Sales CAGR

2.10%

7.91%

8.75%

10Y

5.15%

Profit CAGR

-1.62%

13.78%

11.34%

10Y

13.53%

ROE

TTM

3.11%

4.07%

4.06%

10Y

4.26%

ROCE

TTM

3.90%

4.71%

4.76%

10Y

5.21%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PRECAM	152.90	1,483 Cr	44.24	1.82	0.64	4.11	6.54	6.36
GNA	308.90	1,302 Cr	12.40	1.38	0.99	11.15	13.61	7.26
IMPAL	1035.00	1,290 Cr	16.44	0.51	2.90	3.11	3.90	2.76
HITECHGEAR	676.00	1,269 Cr	44.35	2.54	0.74	5.73	9.22	3.52
RACLGEAR	1055.10	1,263 Cr	37.86	3.89	0.00	10.26	13.05	5.13
KROSS	180.00	1,123 Cr	22.68	2.48	0.00	10.93	14.95	8.26
BHARATSE	177.05	1,113 Cr	29.26	5.39	0.62	18.41	17.98	5.49

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	189	176	191	170	195	182	186	179	198	190
Expenses	173	162	176	151	180	168	173	164	183	176
Operating Profit	16	14	15	19	15	14	14	15	15	14
OPM %	8.50	7.91	7.92	11.17	7.64	7.56	7.25	8.29	7.44	7.56
Other Income	1.06	11	3.56	15	6.53	12	6.66	10	10	15
Interest	0.00	0.01	0.00	0.00	0.00	0.01	0.00	0.01	0.00	0.00
Depreciation	0.21	0.23	0.23	0.25	0.29	0.28	0.30	0.31	0.30	0.30
Profit Before Tax	17	25	18	33	21	25	20	25	25	29
Tax %	14.10	18.23	26.79	20.08	15.45	17.12	23.55	19.53	16.17	22.47
Net Profit	15	21	14	27	18	21	15	20	21	23
EPS in Rs	12.44	17.12	10.21	20.37	14.30	16.87	12.17	15.88	16.70	18.11

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	502	519	479	524	532	532	646	726	741	753
Expenses	471	484	444	481	497	486	588	662	684	696
Operating Profit	31	35	35	44	36	45	58	64	57	57
OPM %	6.21	6.79	7.38	8.32	6.70	8.50	9.04	8.83	7.68	7.62
Other Income	7.34	11	9.30	16	26	24	18	31	35	42
Interest	0.00	0.00	0.00	0.00	0.00	0.03	0.08	0.01	0.02	0.01
Depreciation	0.75	0.82	0.90	0.98	1.07	0.89	0.81	0.92	1.18	1.21
Profit Before Tax	38	46	44	58	61	68	76	94	91	99
Tax %	29.55	29.98	28.87	29.19	18.71	22.65	19.70	19.83	18.79	20.36
Net Profit	27	32	31	41	50	53	61	75	74	78
EPS in Rs	—	—	—	29.33	37.30	42.43	48.67	60.14	59.22	62.86
Dividend Payout %	28.01	28.40	29.19	36.25	25.19	23.60	26.71	39.86	45.59	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	8.32	8.32	8.32	8.32	12	12	12	12	12
Reserves	224	740	872	1,004	926	1,429	1,222	1,356	2,058
Borrowings	13	12	19	14	14	0.00	5.33	0.00	0.00
Other Liabilities	46	59	56	109	105	190	129	134	240
Total Liabilities	292	819	955	1,135	1,057	1,631	1,369	1,502	2,311
Fixed Assets	11	14	16	17	17	17	17	19	20
CWIP	0.00	0.00	0.28	0.00	0.00	0.00	0.00	0.00	0.00
Investments	116	675	791	962	858	1,412	1,168	1,286	2,063
Other Assets	165	131	148	156	182	203	184	196	228
Total Assets	292	819	955	1,135	1,057	1,631	1,369	1,502	2,311

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	32	23	11	16	2.76	91	-2.37	32	27
Cash from Investing Activity	-14	-57	-3.87	-5.05	40	-73	-6.67	3.21	15
Cash from Financing Activity	-21	-5.34	1.70	-17	-33	-14	-7.75	-33	-30
Net Cash Flow	-2.79	-40	8.69	-6.18	9.25	4.52	-17	2.36	12

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	30.71%	30.71%	30.71%	30.71%	30.71%	30.71%	30.71%	30.71%	30.71%	30.71%	33.81%	33.81%
FIIs	7.59%	7.86%	7.96%	7.96%	7.96%	8.04%	8.08%	7.88%	7.89%	7.89%	3.77%	3.60%
DIIs	2.49%	2.49%	2.49%	2.49%	2.49%	2.49%	2.49%	2.49%	2.49%	2.49%	1.38%	1.34%
Public	59.20%	58.93%	58.83%	58.83%	58.83%	58.75%	58.71%	58.92%	58.90%	58.91%	61.04%	61.25%
Total Shareholders	8,564	8,595	8,862	9,200	9,845	9,703	9,937	10,737	10,905	11,124	11,379	11,851

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jun 25, 2025	Trichur sundaram santhanam & ...	Bulk	Buy	1,149.99	44.49 Cr	3,86,880	3.1
Jun 25, 2025	Pari washington investment fund	Bulk	Sell	1,150.00	15.30 Cr	1,33,000	1.06
Jun 25, 2025	Sundaram finance holdings lim...	Bulk	Buy	1,150.00	27.27 Cr	2,37,120	1.9
Jun 25, 2025	Pari washington company ac pa...	Bulk	Sell	1,150.00	56.47 Cr	4,91,000	3.93

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

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Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	189	176	191	170	195	182	186	179	198	190
Expenses	173	162	176	151	180	168	173	164	183	176
Operating Profit	16	14	15	19	15	14	14	15	15	14
OPM %	8.50	7.91	7.92	11.17	7.64	7.56	7.25	8.29	7.44	7.56
Other Income	1.06	11	3.56	15	6.53	12	6.66	10	10	15
Interest	0.00	0.01	0.00	0.00	0.00	0.01	0.00	0.01	0.00	0.00
Depreciation	0.21	0.23	0.23	0.25	0.29	0.28	0.30	0.31	0.30	0.30
Profit Before Tax	17	25	18	33	21	25	20	25	25	29
Tax %	14.10	18.23	26.79	20.08	15.45	17.12	23.55	19.53	16.17	22.47
Net Profit	15	21	14	27	18	21	15	20	21	23
EPS in Rs	12.44	17.12	10.21	20.37	14.30	16.87	12.17	15.88	16.70	18.11

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	502	519	479	524	532	532	646	726	741	753
Expenses	471	484	444	481	497	486	588	662	684	696
Operating Profit	31	35	35	44	36	45	58	64	57	57
OPM %	6.21	6.79	7.38	8.32	6.70	8.50	9.04	8.83	7.68	7.62
Other Income	7.34	11	9.30	16	26	24	18	31	35	42
Interest	0.00	0.00	0.00	0.00	0.00	0.03	0.08	0.01	0.02	0.01
Depreciation	0.75	0.82	0.90	0.98	1.07	0.89	0.81	0.92	1.18	1.21
Profit Before Tax	38	46	44	58	61	68	76	94	91	99
Tax %	29.55	29.98	28.87	29.19	18.71	22.65	19.70	19.83	18.79	20.36
Net Profit	27	32	31	41	50	53	61	75	74	78
EPS in Rs	—	—	—	29.33	37.30	42.43	48.67	60.14	59.22	62.86
Dividend Payout %	28.01	28.40	29.19	36.25	25.19	23.60	26.71	39.86	45.59	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	8.32	8.32	8.32	8.32	12	12	12	12	12
Reserves	224	740	872	1,004	926	1,429	1,222	1,356	2,058
Borrowings	13	12	19	14	14	0.00	5.33	0.00	0.00
Other Liabilities	46	59	56	109	105	190	129	134	240
Total Liabilities	292	819	955	1,135	1,057	1,631	1,369	1,502	2,311
Fixed Assets	11	14	16	17	17	17	17	19	20
CWIP	0.00	0.00	0.28	0.00	0.00	0.00	0.00	0.00	0.00
Investments	116	675	791	962	858	1,412	1,168	1,286	2,063
Other Assets	165	131	148	156	182	203	184	196	228
Total Assets	292	819	955	1,135	1,057	1,631	1,369	1,502	2,311

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity	32	23	11	16	2.76	91	-2.37	32	27
Cash from Investing Activity	-14	-57	-3.87	-5.05	40	-73	-6.67	3.21	15
Cash from Financing Activity	-21	-5.34	1.70	-17	-33	-14	-7.75	-33	-30
Net Cash Flow	-2.79	-40	8.69	-6.18	9.25	4.52	-17	2.36	12

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Indian Motor Parts & Accessories Limited (IMPAL) is a distributor of automobile spare parts, dealing in a range of components including engine parts, brake systems, and auto electricals.

IMPAL is part of the TVS Group and has a nationwide distribution network, making it one of the few all-India distributors in its sector.

The company has strategically expanded its branch network over the years, including new branches opened in 2019 and 2024, boosting its regional presence.

In 2023, IMPAL sold part of its holding in Transenergy Private Limited, affecting its corporate associate relationships.

With the acquisition of CAPL Motor Parts Private Limited, IMPAL has enhanced its footprint, indicating a focus on scalability and operational growth.

Sector

Auto Ancillaries

Industry

Auto Ancillaries - Trading

Market Cap

1,290 Cr

Volatility

Moderate Risk

P/E Ratio

16.4

Industry P/E

45.7

PEG Ratio

1.2

P/B Ratio

0.5

52W High

1,331.50

52W Low

836.00

Sales CAGR

2.10%

7.91%

8.75%

10Y

5.15%

Profit CAGR

-1.62%

13.78%

11.34%

10Y

13.53%

ROE

TTM

3.11%

4.07%

4.06%

10Y

4.26%

ROCE

TTM

3.90%

4.71%

4.76%

10Y

5.21%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PRECAM	152.90	1,483 Cr	44.24	1.82	0.64	4.11	6.54	6.36
GNA	308.90	1,302 Cr	12.40	1.38	0.99	11.15	13.61	7.26
IMPAL	1035.00	1,290 Cr	16.44	0.51	2.90	3.11	3.90	2.76
HITECHGEAR	676.00	1,269 Cr	44.35	2.54	0.74	5.73	9.22	3.52
RACLGEAR	1055.10	1,263 Cr	37.86	3.89	0.00	10.26	13.05	5.13
KROSS	180.00	1,123 Cr	22.68	2.48	0.00	10.93	14.95	8.26
BHARATSE	177.05	1,113 Cr	29.26	5.39	0.62	18.41	17.98	5.49