Emkay Taps And Cutting Tools Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Others: 93.9% • Tools: 4.5% • Power: 1.6%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 23.8%
- Company comfortably covers its interest (422.2x coverage)
- Working capital cycle has improved - days down from 91 to 25
- Company generates healthy free cash flow
CONS
- Company is loss-making at the operating / net level
- A large part of profit comes from other income (175.1% of PBT)
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.49x)
- Company's sales have been declining over the last five years
- Operating margins have contracted to -52.7% from 56.1%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| BHEL | 430.60 | 61.64 | 149937.65 | 0.33 | 376.71 | 182.70 | 7697.72 | 40.29 | 9.24 | 6.69 |
| INDOMIM | 1018.90 | 94.43 | 50382.66 | 0.58 | 2401.22 | — | 12187.42 | — | 24.48 | 33.36 |
| THERMAX | 3680.25 | 73.91 | 43852.50 | 0.54 | 21.79 | -85.61 | 2302.73 | 7.09 | 15.85 | 2.98 |
| HONAUT | 34514.05 | 55.37 | 30515.68 | 0.32 | 150.70 | 20.95 | 1204.40 | 1.80 | 17.04 | 14.32 |
| JYOTICNC | 987.95 | 69.84 | 22468.26 | 0.00 | 57.14 | -19.99 | 508.47 | 23.97 | 21.34 | 21.40 |
| INOXINDIA | 2245.75 | 80.12 | 20418.91 | 0.09 | 58.07 | -4.98 | 370.79 | 9.18 | 33.54 | 20.46 |
| AZAD | 2846.00 | 132.25 | 18379.96 | 0.00 | 35.16 | 19.46 | 172.60 | 25.90 | 12.04 | 37.29 |
| TRITURBINE | 569.10 | 53.80 | 18091.60 | 0.75 | 51.10 | -20.65 | 442.70 | 19.23 | 35.95 | 11.59 |
| TEGA | 1731.10 | 615.52 | 13005.36 | 0.12 | -108.25 | -406.36 | 1723.44 | 383.99 | 8.37 | 3.27 |
| LLOYDSENGG | 82.72 | 57.36 | 12830.19 | 0.30 | 68.23 | -77.28 | 527.15 | 142.92 | 17.99 | 15.04 |
| KRN | 1595.75 | 107.75 | 10445.54 | 0.00 | 32.90 | 164.84 | 252.32 | 118.87 | 16.06 | 19.44 |
| EMKAYTOOLS | 94.50 | 1.40 | 100.84 | 0.00 | 0.00 | — | 0.00 | — | 10.45 | — |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | |
|---|---|
| 0 | |
| 0 | |
| Operating Profit | 0 |
| OPM % | — |
| 0 | |
| Interest | 0 |
| Depreciation | 0 |
| Profit before Tax | 0 |
| Tax % | — |
| Net Profit | 0 |
| 0.00 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 45 | 48 | 54 | 64 | 51 | 56 | 71 | 89 | 103 | 42 | |
| 31 | 30 | 32 | 54 | 31 | 37 | 41 | 51 | 60 | 65 | |
| Operating Profit | 13 | 17 | 22 | 10 | 20 | 19 | 30 | 38 | 44 | -23 |
| OPM % | 30.07% | 36.72% | 41.44% | 15.83% | 39.75% | 33.98% | 42.60% | 42.39% | 42.45% | -55.06% |
| 8 | 3 | 7 | 6 | 2 | 13 | 17 | 22 | 49 | 54 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 0 |
| Profit before Tax | 19 | 18 | 25 | 13 | 19 | 29 | 44 | 57 | 90 | 31 |
| Tax % | 26.47% | 32.90% | 21.91% | 58.94% | 24.11% | 17.96% | 19.86% | 22.07% | 20.18% | 13.85% |
| Net Profit | 14 | 12 | 20 | 5 | 14 | 24 | 35 | 44 | 72 | 27 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 22.33 | 33.04 | 41.35 | 67.38 | 25.13 |
| Dividend Payout % | 0.00% | 3.00% | 2.68% | 10.13% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
COMPOUNDED SALES GROWTH
- 10 Years:
- 0%
- 5 Years:
- -4%
- 3 Years:
- -16%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 9%
- 5 Years:
- 14%
- 3 Years:
- -9%
STOCK PRICE CAGR
- 10 Years:
- -12%
- 5 Years:
- -10%
- 3 Years:
- -38%
- 1 Year:
- -64%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 20%
- 3 Years:
- 19%
- Last Year:
- 9%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| 71 | 83 | 102 | 98 | 111 | 135 | 170 | 215 | 288 | 277 | |
| 2 | 5 | 4 | 3 | 3 | 0 | 3 | 6 | 6 | 4 | |
| Trade Payables | 2 | 2 | 4 | 4 | 2 | 3 | 4 | 5 | 4 | 0 |
| 4 | 5 | 5 | 12 | 9 | 10 | 15 | 20 | 28 | 7 | |
| Total Liabilities | 81 | 97 | 118 | 128 | 136 | 159 | 203 | 257 | 337 | 299 |
| 16 | 18 | 17 | 17 | 21 | 19 | 19 | 16 | 14 | 2 | |
| Capital Work in Progress | 0 | 1 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| 36 | 49 | 71 | 65 | 78 | 99 | 144 | 187 | 255 | 283 | |
| 12 | 13 | 12 | 16 | 15 | 6 | 10 | 17 | 16 | 0 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 24 | 0 | |
| Cash & Bank | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 4 | 2 |
| 14 | 16 | 17 | 27 | 20 | 34 | 29 | 35 | 25 | 12 | |
| Total Assets | 81 | 97 | 118 | 128 | 136 | 159 | 203 | 257 | 337 | 299 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | 17 | 26 | 21 | 23 | 21 | 40 | 38 | 25 | 19 | |
| Cash from Investing | -6 | -15 | -17 | -11 | -17 | -12 | -35 | -28 | -23 | 19 |
| Cash from Financing | 0 | 3 | -2 | -2 | -1 | -3 | 3 | 2 | 1 | -41 |
| -0 | -1 | 0 | 0 | -0 | -1 | 0 | 0 | 2 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
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News
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