Markets across the globe have started reviving, said R Chandrasekaran, managing director of Igarashi Motors India, in an interview with CNBC-TV18. Chandrasekaran also said that good growth potential is seen in the domestic market.
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The company, which is engaged in the production and export of Permanent Magnet DC Motors for the automotive sector specifically for passenger cars, reported a good set of earnings for the March-ended quarter. Revenue up, margins at 16 percent versus 17 percent and the profit after tax is Rs 11 crore versus Rs 2 crore.
“The markets have started reviving across the globe and that lead to pent up demand. In the current year, despite the Q1FY22 hit by COVID and also the supply chain, availability of containers for exports, we still 15-17 percent of growth,” Chandrasekaran said.
On the domestic market, he said, “With the government giving BS-VI norms, we see good growth potential in the domestic market as well. Last year we did good growth in domestic market and this is going to build up also this year.”
For the entire management interview, watch the video
