India Motor Parts & Accessories Limited (IMPAL) AI Stock Analysis

India Motor Parts & Accessories Limited

(NSE:IMPAL)

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Rating:75Outperform

Price Target:INR 1,230.00▲(19.89% Upside)

Action:reiterated

Date:08/22/26

The score is driven primarily by strong financial stability from a near debt-free balance sheet and generally solid profitability, tempered by volatility in operating margins and cash conversion. Valuation is supportive with a moderate P/E and ~3% dividend yield. Technicals are neutral overall, with mild negative momentum but longer-term moving-average support.

Positive Factors

Near-debt-free balance sheetA conservative balance sheet reduces interest burden and refinancing risk, preserving flexibility for inventory, branch operations, dividends, or future growth. This strengthens resilience if aftermarket demand or supplier conditions weaken.

Negative Factors

Volatile operating marginsMargin volatility suggests exposure to procurement costs, logistics expenses, or competitive pricing pressure. A sustained decline would limit operating leverage and could prevent revenue growth from translating proportionally into earnings and cash generation.

India Motor Parts & Accessories Limited (IMPAL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 13.28B
Dividend Yield: 3.21%
Average Volume (3M): 172
Price to Earnings (P/E): 12.9
Beta (1Y): 0.82
Revenue Growth: 11.06%
EPS Growth: 17.54%
Country: India
Employees: 906
Sector: General
Sector Strength: 55
Industry: Auto - Parts

India Motor Parts & Accessories Limited Business Overview & Revenue Model

Company Description

India Motor Parts & Accessories Limited (IMPAL) operates as a prominent Indian distributor, providing a comprehensive range of automotive spare parts and accessories across the country. Its extensive inventory primarily covers vital engine and powert...

How the Company Makes Money

IMPAL primarily makes money by acting as a distributor of automotive spare parts and accessories, earning revenue from the sale of these products to trade customers through its branch and dealer/retailer network. Its core revenue stream is trading in...

India Motor Parts & Accessories Limited Financial Statement Overview

Summary

Strong financial resilience supported by an essentially debt-free balance sheet (high stability and flexibility). Revenue has grown steadily and net margins are generally solid (~10–12%), but operating profitability has been volatile (notably weaker EBITDA margin in 2026 vs 2025) and cash generation has been uneven, including a historical year of negative operating/free cash flow and working-capital volatility.

Income Statement

78Positive

Balance Sheet

92Very Positive

Cash Flow

70Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	8.75B	8.37B	7.89B	7.41B	7.26B	6.46B
Gross Profit	975.70M	918.90M	888.70M	801.40M	1.21B	1.08B
EBITDA	1.00B	635.50M	1.06B	922.00M	946.50M	733.10M
Net Income	978.40M	965.50M	836.70M	739.20M	751.40M	607.50M
Balance Sheet
Total Assets	0	25.40B	25.05B	23.11B	15.02B	13.69B
Cash, Cash Equivalents and Short-Term Investments	1.19B	1.19B	1.13B	1.01B	954.30M	1.37B
Total Debt	0	0	0	0	0	53.30M
Total Liabilities	-23.08B	2.31B	2.59B	2.40B	1.34B	1.34B
Stockholders Equity	23.08B	23.08B	22.46B	20.70B	13.68B	12.34B
Cash Flow
Free Cash Flow	128.20M	376.10M	492.50M	248.20M	277.80M	-32.60M
Operating Cash Flow	137.60M	438.70M	509.40M	268.30M	319.40M	-23.70M
Investing Cash Flow	55.00M	-45.10M	-202.90M	150.70M	32.10M	-66.70M
Financing Cash Flow	-249.60M	-374.40M	-349.40M	-299.50M	-327.90M	-77.50M

India Motor Parts & Accessories Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:IMPAL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:IMPAL	75Outperform	INR 12.80B	12.95	―	3.21%	11.06%	17.54%
IN:RACLGEAR	72Outperform	INR 16.07B	32.22	―	0.11%	28.21%	65.76%
IN:GNA	71Outperform	INR 22.95B	15.83	―	0.56%	23.06%	38.22%
IN:RML	68Neutral	INR 32.65B	27.67	―	1.36%	42.06%	323.98%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:LGBBROSLTD	55Neutral	INR 53.35B	16.66	―	1.31%	20.77%	4.95%
IN:PRECAM	54Neutral	INR 8.85B	21.58	―	1.07%	-4.88%	-33.32%

* General Sector Average

Performance Comparison

IN:IMPAL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:IMPAL	India Motor Parts & Accessories Limited	1025.95	-19.80	-1.89%
IN:GNA	GNA Axles Ltd	534.60	215.79	67.68%
IN:LGBBROSLTD	L.G. Balakrishnan & Bros Ltd.	1672.75	83.28	5.24%
IN:PRECAM	Precision Camshafts Ltd.	93.15	-91.43	-49.53%
IN:RACLGEAR	RACL Geartech Ltd	1363.65	264.89	24.11%
IN:RML	Rane (Madras) Limited	1181.30	381.70	47.74%

India Motor Parts & Accessories Limited Corporate Events

IMPAL sets July 21 virtual AGM, proposes Rs 33 dividend for FY 2025-26

Jun 27, 2026

India Motor Parts & Accessories Limited has scheduled its 72nd Annual General Meeting for July 21, 2026, to be conducted via video conferencing and other audio-visual means, with the AGM notice and annual report for FY 2025-26 distributed electro...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 22, 2026

India Motor Parts & Accessories Limited AI Stock Analysis