Empire Industries Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Trading & Indenting: 48.0% • Manufacturing: 33.6% • Others: 13.4%
AI Sector View
AI GENERATEDConstruction Materials
Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.
PROS
- Company has delivered good profit growth of 31.3% CAGR over last 5 years
- Latest quarter profit grew 47.3% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.84x)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
- Stock looks reasonably valued - P/E of 11.5 is below its historical median
CONS
- A large part of profit comes from other income (30.7% of PBT)
- Effective tax rate is unusually low at 14.3% - earnings may be flattered
- Growth is decelerating - 3Y profit CAGR (13.2%) trails the 5Y trend (31.3%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| GRASIM | 3307.20 | 39.53 | 225081.61 | 0.30 | 3846.28 | 39.00 | 48716.20 | 21.43 | 9.72 | 22.94 |
| 3MINDIA | 33038.80 | 60.88 | 37218.44 | 1.53 | 157.15 | 21.62 | 1046.57 | -0.29 | 51.87 | 19.63 |
| DCMSHRIRAM | 997.10 | 10.85 | 15549.01 | 1.12 | 693.44 | 509.24 | 3784.67 | 9.96 | 11.72 | 8.93 |
| HNDFDS | 612.95 | 47.71 | 7426.67 | 0.00 | 42.76 | 34.76 | 1201.08 | 20.75 | 14.15 | 8.35 |
| BALMLAWRIE | 175.50 | 10.75 | 3001.12 | 4.84 | 70.93 | 5.32 | 748.73 | 10.00 | 15.33 | 15.26 |
| TTKHLTCARE | 1179.65 | 22.54 | 1666.88 | 0.85 | 21.28 | 63.68 | 257.56 | 13.75 | 7.72 | 5.72 |
| KOTIC | 137.35 | 0.00 | 1483.68 | 0.00 | -28.90 | — | 52.44 | 98.47 | -16.89 | -42.58 |
| EMPIND | 1076.80 | 164.59 | 646.08 | 2.32 | 14.18 | 47.35 | 183.60 | 10.07 | 18.16 | 10.77 |
| GILLANDERS | 103.05 | 12.61 | 219.93 | 0.00 | 2.52 | 146.16 | 91.34 | 3.34 | 6.08 | 7.01 |
| ASPINWALL | 251.25 | 12.49 | 196.43 | 2.59 | -0.70 | 78.59 | 113.18 | 25.76 | 8.42 | 0.96 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 148 | 154 | 153 | 152 | 152 | 163 | 176 | 186 | 167 | 180 | 189 | 195 | 184 | |
| 132 | 135 | 146 | 129 | 135 | 144 | 158 | 170 | 151 | 159 | 171 | 162 | 172 | |
| Operating Profit | 16 | 19 | 7 | 23 | 16 | 19 | 18 | 16 | 15 | 21 | 17 | 33 | 11 |
| OPM % | 10.64% | 12.23% | 4.55% | 14.93% | 10.80% | 11.80% | 10.21% | 8.63% | 9.27% | 11.71% | 9.13% | 16.84% | 6.09% |
| 2 | 3 | 15 | 5 | 3 | 4 | 5 | 3 | 3 | 5 | 5 | 5 | 6 | |
| Interest | 6 | 8 | 5 | 8 | 5 | 7 | 7 | 8 | 5 | 8 | 6 | 10 | 5 |
| Depreciation | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 4 | 4 | 4 | 4 |
| Profit before Tax | 8 | 10 | 12 | 15 | 11 | 11 | 12 | 6 | 10 | 14 | 12 | 24 | 17 |
| Tax % | 24.63% | 19.88% | 16.37% | 17.42% | 9.35% | 13.26% | 8.68% | 31.69% | 6.60% | 9.63% | 11.68% | 21.47% | 17.47% |
| Net Profit | 6 | 8 | 10 | 13 | 10 | 10 | 11 | 4 | 10 | 12 | 11 | 19 | 14 |
| 10.21 | 13.43 | 17.03 | 21.01 | 16.14 | 16.35 | 17.53 | 7.40 | 16.04 | 20.65 | 17.64 | 31.59 | 23.62 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 405 | 473 | 526 | 575 | 490 | 544 | 682 | 606 | 677 | 731 | 748 | |
| 338 | 411 | 467 | 500 | 447 | 485 | 603 | 542 | 607 | 644 | 666 | |
| Operating Profit | 67 | 62 | 59 | 75 | 43 | 59 | 78 | 64 | 70 | 87 | 82 |
| OPM % | 16.59% | 13.13% | 11.18% | 12.97% | 8.82% | 10.84% | 11.52% | 10.58% | 10.29% | 11.86% | 11.02% |
| 6 | 27 | 33 | 12 | 23 | 10 | 15 | 25 | 15 | 18 | 21 | |
| Interest | 14 | 16 | 20 | 32 | 35 | 27 | 33 | 27 | 27 | 28 | 28 |
| Depreciation | 9 | 13 | 11 | 15 | 19 | 15 | 17 | 16 | 17 | 16 | 17 |
| Profit before Tax | 50 | 60 | 61 | 40 | 13 | 28 | 43 | 46 | 40 | 60 | 67 |
| Tax % | 32.34% | 22.29% | 28.24% | 15.06% | -4.03% | 14.25% | 16.81% | 18.97% | 13.89% | 14.27% | 16.27% |
| Net Profit | 34 | 47 | 44 | 34 | 13 | 24 | 36 | 37 | 34 | 52 | 56 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 22.01 | 39.49 | 59.21 | 61.67 | 57.42 | 85.91 | — |
| Dividend Payout % | 44.03% | 32.14% | 34.22% | 43.89% | 113.57% | 63.31% | 42.22% | 40.54% | 43.54% | 29.10% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 7%
- 5 Years:
- 8%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- 31%
- 3 Years:
- 13%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 15%
- 5 Years:
- 12%
- 3 Years:
- 13%
- Last Year:
- 15%
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 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| 177 | 206 | 231 | 228 | 241 | 250 | 277 | 294 | 308 | 345 | |
| 252 | 250 | 301 | 395 | 300 | 285 | 243 | 215 | 239 | 273 | |
| Trade Payables | 25 | 25 | 30 | 32 | 18 | 17 | 40 | 30 | 39 | 42 |
| 84 | 100 | 109 | 123 | 147 | 149 | 174 | 179 | 159 | 149 | |
| Total Liabilities | 544 | 587 | 677 | 784 | 713 | 707 | 740 | 724 | 751 | 815 |
| 215 | 217 | 213 | 317 | 303 | 352 | 317 | 315 | 304 | 301 | |
| Capital Work in Progress | 0 | 57 | 103 | 72 | 75 | 9 | 9 | 0 | 0 | 2 |
| 0 | 0 | 0 | 0 | 0 | 0 | 1 | 29 | 11 | 59 | |
| 127 | 105 | 144 | 183 | 133 | 108 | 110 | 106 | 96 | 143 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 160 | 140 | 136 | |
| Cash & Bank | 98 | 86 | 42 | 32 | 48 | 53 | 74 | 79 | 132 | 120 |
| 104 | 122 | 176 | 181 | 154 | 185 | 229 | 34 | 66 | 54 | |
| Total Assets | 544 | 587 | 677 | 784 | 713 | 707 | 740 | 724 | 751 | 815 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 64 | 33 | 1 | 49 | 105 | 61 | 63 | 75 | 92 | 59 | |
| Cash from Investing | -3 | -49 | -34 | -45 | -4 | -2 | 29 | -15 | 17 | -51 |
| Cash from Financing | -24 | 17 | 5 | -5 | -82 | -45 | -89 | -52 | -59 | -20 |
| 21 | -12 | -41 | -11 | 17 | 6 | 19 | 7 | 50 | -13 |
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
No announcements filed.
News
Recent coverage and analyst commentary for EMPIND
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