Emami Ltd.
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ABOUT
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 32.2%
- Company has a good return on equity (ROE) track record: 3 Years ROE 29.8%
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.08x)
- Company has been maintaining a healthy dividend payout of 56.3%
CONS
- Total debt has risen sharply - up 97.1% year on year
- Effective tax rate is unusually low at 8.4% - earnings may be flattered
- Company has delivered a poor sales growth of 5.6% over past five years
- Recurring exceptional / one-off items are inflating headline profit
- Stock is trading at 5.9x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HINDUNILVR | 1934.00 | 30.38 | 454410.95 | 2.12 | 2680.00 | -3.18 | 17341.00 | 6.24 | 28.98 | 22.76 |
| GODREJCP | 864.60 | 46.24 | 88474.95 | 2.31 | 504.52 | 11.51 | 4225.47 | 16.02 | 17.96 | 18.96 |
| DABUR | 376.50 | 33.87 | 66789.48 | 2.19 | 586.16 | 15.32 | 3764.39 | 10.57 | 21.37 | 19.68 |
| COLPAL | 1797.60 | 112.63 | 48892.14 | 2.67 | 3430.80 | 970.05 | 16033.00 | 1018.01 | 110.06 | 30.12 |
| CUPID | 280.00 | 274.07 | 37650.50 | 0.00 | 441.49 | 2841.89 | 1569.80 | 2524.64 | 33.93 | 39.70 |
| PGHH | 7519.40 | 30.87 | 24408.53 | 3.39 | 126.27 | -34.25 | 891.46 | -4.67 | 157.81 | 19.08 |
| GILLETTE | 7307.85 | 35.64 | 23812.79 | 3.28 | 159.45 | 9.44 | 783.02 | 10.80 | 90.62 | 29.09 |
| EMAMILTD | 363.90 | 21.23 | 15884.24 | 2.75 | 138.94 | -15.41 | 1039.21 | 14.95 | 29.54 | 21.61 |
| GALAXYSURF | 2188.10 | 21.93 | 7757.85 | 1.01 | 165.92 | 108.73 | 1781.90 | 39.44 | 13.39 | 13.99 |
| SAFARI | 1543.70 | 45.83 | 7563.71 | 0.26 | 47.75 | -5.43 | 588.58 | 11.51 | 21.55 | 12.81 |
| SFL | 691.25 | 35.19 | 7548.68 | 0.14 | 62.34 | 770.67 | 1031.94 | 25.63 | 6.76 | 10.85 |
| JYOTHYLAB | 195.00 | 19.33 | 7160.68 | 1.79 | 76.27 | -2.41 | 666.96 | 1.06 | 30.71 | 15.49 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 826 | 865 | 996 | 891 | 906 | 891 | 1,049 | 963 | 904 | 799 | 1,152 | 925 | 1,039 | |
| 636 | 631 | 681 | 680 | 690 | 640 | 711 | 744 | 690 | 620 | 768 | 738 | 861 | |
| Operating Profit | 190 | 234 | 315 | 211 | 217 | 250 | 339 | 219 | 214 | 179 | 384 | 187 | 178 |
| OPM % | 23.01% | 27.02% | 31.60% | 23.67% | 23.90% | 28.12% | 32.27% | 22.79% | 23.69% | 22.36% | 33.36% | 20.18% | 17.11% |
| 8 | 11 | 11 | 11 | 10 | 22 | 15 | 21 | 22 | 21 | 9 | 23 | 18 | |
| Interest | 2 | 2 | 3 | 3 | 2 | 2 | 2 | 3 | 2 | 3 | 3 | 3 | 6 |
| Depreciation | 46 | 46 | 46 | 48 | 44 | 45 | 46 | 44 | 44 | 45 | 45 | 42 | 43 |
| Profit before Tax | 150 | 196 | 277 | 171 | 180 | 225 | 306 | 194 | 189 | 152 | 345 | 164 | 195 |
| Tax % | 8.59% | 8.06% | 5.59% | 13.16% | 15.39% | 4.19% | 7.31% | 16.23% | 11.92% | 1.20% | 7.42% | 12.71% | 28.64% |
| Net Profit | 0 | 0 | 0 | 0 | 151 | 211 | 279 | 162 | 164 | 148 | 319 | 143 | 139 |
| 3.13 | 4.09 | 5.92 | 3.41 | 3.50 | 4.87 | 6.39 | 3.72 | 3.76 | 3.40 | 7.32 | 3.28 | 3.15 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,488 | 2,531 | 2,695 | 2,655 | 2,881 | 3,187 | 3,406 | 3,578 | 3,809 | 3,780 | 3,915 | |
| 1,787 | 1,888 | 1,967 | 1,964 | 1,997 | 2,235 | 2,543 | 2,629 | 2,784 | 2,816 | 2,987 | |
| Operating Profit | 701 | 643 | 727 | 691 | 883 | 952 | 863 | 950 | 1,025 | 964 | 927 |
| OPM % | 28.18% | 25.40% | 26.99% | 26.01% | 30.66% | 29.88% | 25.33% | 26.54% | 26.91% | 25.50% | 23.69% |
| 89 | 96 | 25 | 46 | 70 | 90 | 69 | 41 | 68 | 75 | 72 | |
| Interest | 58 | 34 | 21 | 21 | 13 | 5 | 7 | 10 | 9 | 11 | 14 |
| Depreciation | 309 | 311 | 325 | 336 | 367 | 335 | 247 | 186 | 178 | 177 | 176 |
| Profit before Tax | 424 | 393 | 403 | 374 | 569 | 688 | 670 | 791 | 894 | 846 | 856 |
| Tax % | 19.74% | 21.97% | 25.01% | 19.08% | 20.08% | -21.61% | 6.29% | 8.43% | 10.19% | 8.37% | 12.16% |
| Net Profit | 340 | 306 | 303 | 302 | 455 | 837 | 627 | 724 | 803 | 775 | 752 |
| EPS | 15.00 | 6.77 | 6.68 | 6.67 | 10.23 | 18.88 | 14.50 | 16.58 | 18.48 | 17.76 | — |
| Dividend Payout % | 46.67% | 51.73% | 59.88% | 59.84% | 78.21% | 42.07% | 55.18% | 48.26% | 54.12% | 56.30% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 5%
- 5 Years:
- 6%
- 3 Years:
- 4%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 8%
- 5 Years:
- 11%
- 3 Years:
- 7%
STOCK PRICE CAGR
- 10 Years:
- -5%
- 5 Years:
- -9%
- 3 Years:
- -13%
- 1 Year:
- -40%
RETURN ON EQUITY
- 10 Years:
- 25%
- 5 Years:
- 32%
- 3 Years:
- 30%
- Last Year:
- 28%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 23 | 23 | 45 | 45 | 44 | 44 | 44 | 44 | 44 | 44 |
| Minority Interest | 1 | 1 | -0 | -1 | -1 | -2 | 10 | 11 | -1 | -2 |
| 1,732 | 1,991 | 2,031 | 1,778 | 1,718 | 2,032 | 2,259 | 2,403 | 2,651 | 2,880 | |
| 186 | 360 | 140 | 247 | 123 | 298 | 106 | 103 | 95 | 161 | |
| Trade Payables | 185 | 242 | 291 | 324 | 351 | 409 | 407 | 455 | 436 | 477 |
| 477 | 182 | 311 | 284 | 285 | -8 | -79 | -173 | -215 | -350 | |
| Total Liabilities | 2,603 | 2,798 | 2,819 | 2,678 | 2,520 | 2,774 | 2,746 | 2,842 | 3,010 | 3,210 |
| 1,940 | 1,746 | 1,625 | 1,405 | 1,079 | 1,290 | 1,192 | 1,062 | 933 | 846 | |
| Capital Work in Progress | 13 | 23 | 35 | 7 | 6 | 2 | 6 | 7 | 13 | 1 |
| 128 | 314 | 187 | 156 | 255 | 303 | 293 | 442 | 676 | 834 | |
| 179 | 194 | 222 | 245 | 300 | 358 | 328 | 323 | 308 | 400 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 494 | 451 | 343 | |
| Cash & Bank | 50 | 80 | 203 | 119 | 360 | 116 | 185 | 201 | 273 | 410 |
| 293 | 442 | 546 | 747 | 519 | 706 | 742 | 313 | 355 | 376 | |
| Total Assets | 2,603 | 2,798 | 2,819 | 2,678 | 2,520 | 2,774 | 2,746 | 2,842 | 3,010 | 3,210 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 800 | 669 | 646 | 607 | 1,008 | 786 | 866 | 779 | 896 | 801 | |
| Cash from Investing | -297 | -279 | -23 | -228 | -227 | -235 | -113 | -205 | -340 | -181 |
| Cash from Financing | -496 | -324 | -428 | -405 | -688 | -402 | -608 | -563 | -500 | -554 |
| -64 | -15 | 103 | -102 | 6 | 7 | 28 | 11 | 56 | 65 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - Emami Limited has informed the Exchange with copy of minutes of Annual General Meeting held on August 25, 2026
2026-08-29 - Emami Limited has informed the Exchange about change in Management
2026-08-26 - Emami Limited has informed the Exchange about change in Management
2026-08-26 - Emami Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 25, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-25 - Emami Limited has informed the Exchange about Chairman's Speech delivered at the 43rd AGM
2026-08-25 - Summary Proceedings of the 43rd AGM of Emami Limited held on 25th August, 2026
2026-08-10 - Emami Limited has informed the Exchange about Transcript
2026-08-05 - Emami Limited has informed the Exchange about Copy of Newspaper Publication dated 5th August, 2026
2026-08-04 - Emami Limited has informed the Exchange about Link of Recording
News
Recent coverage and analyst commentary for EMAMILTD
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Emami Ltd.
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