eMudhra Ltd.

•

emudhra.comBSE: 543533NSE: EMUDHRA

Market Cap₹ 4,097 Cr.

Current Price

High / Low₹ 710 / 365

Stock P/E105.1

Book Value₹ 69

Price to Book5.45

Dividend Yield0.25 %

ROCE8.0 %

ROE5.9 %

Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Enterprise Solutions: 80.0% • Trust Services: 20.0%

AI Sector View

AI GENERATED

Information Technology

Buy

IT is supported by a still-expanding services backdrop and a weaker rupee. Export of services grew 13.0% YoY (2026-06), services PMI was 54.1 (Aug/26), and the currency at 95.23 (Sep/26) is depreciated versus the previous 95.16, which helps INR translation of export revenues. FPI positioning is only neutral-to-soft with net 3-month flow of INR -5 crore to 2026-08-31, so the positive stance is primarily macro-driven.

Confidence

68%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 113.0% YoY, showing strong momentum
Company has delivered good sales growth of 19.7% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.62x)
Company has been maintaining a healthy dividend payout of 32.0%

CONS

Company has a low return on capital employed of 6.8%
Company has a low return on equity of 4.8% over last 3 years
Operating margins have contracted to 18.8% from 26.0%
Stock is trading at 5.5x its book value
Expensive relative to growth - PEG of 6.0

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Information TechnologyITIT - Software

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TCS	2202.00	16.00	796702.87	5.00	13420.00	4.69	72275.00	13.93	66.25	25.67
2.	INFY	1038.20	13.91	421325.69	4.62	7775.00	12.29	48211.00	14.03	42.84	23.66
3.	HCLTECH	1207.00	18.80	327539.38	4.47	4626.00	20.34	34579.00	13.94	31.20	19.87
4.	WIPRO	167.50	12.55	165902.38	6.57	3356.30	0.59	24478.60	10.59	18.49	18.93
5.	TECHM	1539.50	29.38	150891.59	3.31	1486.30	31.67	15711.90	17.68	23.04	17.43
6.	LTM	4301.15	24.39	127581.28	1.74	1468.60	17.06	11608.00	17.96	30.25	17.75
7.	OFSS	11760.00	30.01	102409.76	3.40	1415.50	120.52	3125.20	68.73	45.50	60.04
8.	PERSISTENT	5537.45	45.42	87353.27	0.72	483.04	13.67	4303.23	29.09	35.09	16.19
9.	COFORGE	1847.40	46.58	81835.77	0.86	531.70	49.19	5527.70	49.86	24.70	19.14
10.	MPHASIS	2294.10	22.92	43790.98	2.70	489.51	10.82	4384.05	17.46	23.31	18.15
11.	LTTS	3334.95	26.80	35379.24	1.74	3571.00	1029.71	29401.00	1014.73	27.70	18.65
12.	EMUDHRA	494.70	35.61	4096.70	0.25	32.00	27.87	190.72	29.47	16.23	26.00

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	26	53	45	58	39	56	46	61	56	62	73	78	66
	30	38	41	36	35	45	39	50	46	50	55	64	51
Operating Profit	-3	15	4	22	4	11	7	11	10	12	17	14	15
OPM %	-11.86%	28.89%	9.10%	37.65%	10.83%	19.30%	14.54%	18.52%	17.56%	18.66%	23.90%	17.97%	23.20%
	3	3	1	0	3	2	2	3	2	1	1	3	1
Interest	0	0	0	1	0	0	0	-0	0	0	0	2	0
Depreciation	3	4	4	4	4	4	4	4	4	4	4	4	4
Profit before Tax	-3	14	1	17	3	8	5	11	8	9	15	12	17
Tax %	24.19%	27.65%	23.08%	27.74%	28.96%	27.69%	29.67%	34.69%	28.15%	25.39%	21.35%	29.07%	25.17%
Net Profit	-3	10	0	12	2	6	3	7	6	7	12	8	12
	-0.33	1.33	0.05	1.56	0.26	0.74	0.41	0.85	0.70	0.81	1.41	0.99	1.50

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	67	73	90	103	109	153	164	183	203	269	279
	50	54	67	81	82	99	127	145	170	218	221
Operating Profit	17	20	23	22	28	54	37	38	33	51	58
OPM %	24.80%	26.73%	25.68%	21.50%	25.37%	35.35%	22.58%	20.91%	16.34%	18.85%	20.91%
	0	-6	-2	0	0	1	6	8	9	10	7
Interest	0	0	1	1	1	5	3	2	0	2	2
Depreciation	4	4	7	7	7	11	12	15	15	16	16
Profit before Tax	13	9	14	15	21	39	27	29	27	43	52
Tax %	27.49%	14.57%	27.71%	25.60%	26.52%	23.07%	25.96%	28.02%	30.99%	25.51%	24.98%
Net Profit	9	8	10	11	15	30	20	21	19	32	39
EPS	1.46	1.15	1.47	1.62	2.16	4.28	2.60	2.49	2.25	3.91	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	29.47%	49.96%	50.20%	55.46%	31.96%	—

COMPOUNDED SALES GROWTH

10 Years:: 20%
5 Years:: 20%
3 Years:: 18%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 16%
3 Years:: 17%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 2%
1 Year:: -27%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 11%
3 Years:: 5%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	35	35	35	35	35	35	39	41	41	41
	10	18	27	38	52	83	278	482	493	521
	7	17	34	41	46	57	6	3	3	3
Trade Payables	0	2	4	4	3	17	20	19	18	45
	30	16	18	22	28	31	24	30	43	58
Total Liabilities	83	88	119	140	164	222	367	575	598	669
	44	41	50	44	104	96	122	150	190	182
Capital Work in Progress	1	6	21	39	4	25	37	15	0	0
	17	17	22	21	19	22	73	120	285	305
	0	0	0	1	0	2	1	3	1	2
	0	0	0	0	0	0	0	47	52	62
Cash & Bank	10	7	2	2	5	9	45	177	26	27
	10	15	23	33	32	69	89	64	44	90
Total Assets	83	88	119	140	164	222	367	575	598	669

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	25	7	19	16	31	42	31	25	38	53
Cash from Investing	-20	-7	-35	-17	-30	-37	-127	-62	-164	-42
Cash from Financing	5	-2	14	6	4	0	120	180	-11	-10
	7	-4	-5	-1	3	-1	10	142	-136	0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	54.40	54.40	54.40	54.40	54.40	54.40	54.40	54.40	54.40
	4.17	4.40	5.04	4.23	4.20	4.15	4.16	3.13	3.92
	14.36	15.03	14.85	15.98	16.01	16.74	16.75	13.33	10.55
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.08	26.18	25.71	25.40	25.40	24.72	24.69	29.13	31.13

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-28

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-28 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-26

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-26 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-22

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-22 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-18

General Updates

2026-08-18 - eMudhra Limited has informed the Exchange about Closure of complaint by the Economic Offence Wing, Navi Mumbai Police Commissionerate in relation to allegations made by 3i Infotech Limited

2026-08-06

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-06 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - eMudhra Limited has informed the Exchange about Schedule of meet

2026-08-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-04 - eMudhra Limited has informed the Exchange about Transcript

News

Recent coverage and analyst commentary for EMUDHRA

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eMudhra Ltd.

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Name

TCS

2202.00

16.00

796702.87

5.00

13420.00

4.69

72275.00

13.93

66.25

25.67

INFY

1038.20

13.91

421325.69

4.62

7775.00

12.29

48211.00

14.03

42.84

23.66

HCLTECH

1207.00

18.80

327539.38

4.47

4626.00

20.34

34579.00

13.94

31.20

19.87

WIPRO

167.50

12.55

165902.38

6.57

3356.30

0.59

24478.60

10.59

18.49

18.93

TECHM

1539.50

29.38

150891.59

3.31

1486.30

31.67

15711.90

17.68

23.04

17.43

LTM

4301.15

24.39

127581.28

1.74

1468.60

17.06

11608.00

17.96

30.25

17.75

OFSS

11760.00

30.01

102409.76

3.40

1415.50

120.52

3125.20

68.73

45.50

60.04

PERSISTENT

5537.45

45.42

87353.27

0.72

483.04

13.67

4303.23

29.09

35.09

16.19

COFORGE

1847.40

46.58

81835.77

0.86

531.70

49.19

5527.70

49.86

24.70

19.14

MPHASIS

2294.10

22.92

43790.98

2.70

489.51

10.82

4384.05

17.46

23.31

18.15

LTTS

3334.95

26.80

35379.24

1.74

3571.00

1029.71

29401.00

1014.73

27.70

18.65

EMUDHRA

494.70

35.61

4096.70

0.25

32.00

27.87

190.72

29.47

16.23

26.00

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

Operating Profit

-3

OPM %

-11.86%

28.89%

9.10%

37.65%

10.83%

19.30%

14.54%

18.52%

17.56%

18.66%

23.90%

17.97%

23.20%

Interest

-0

Depreciation

Profit before Tax

-3

Tax %

24.19%

27.65%

23.08%

27.74%

28.96%

27.69%

29.67%

34.69%

28.15%

25.39%

21.35%

29.07%

25.17%

Net Profit

-3

-0.33

1.33

0.05

1.56

0.26

0.74

0.41

0.85

0.70

0.81

1.41

0.99

1.50

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

103

109

153

164

183

203

269

279

127

145

170

218

221

Operating Profit

OPM %

24.80%

26.73%

25.68%

21.50%

25.37%

35.35%

22.58%

20.91%

16.34%

18.85%

20.91%

-6

-2

Interest

Depreciation

Profit before Tax

Tax %

27.49%

14.57%

27.71%

25.60%

26.52%

23.07%

25.96%

28.02%

30.99%

25.51%

24.98%

Net Profit

EPS

1.46

1.15

1.47

1.62

2.16

4.28

2.60

2.49

2.25

3.91

—

Dividend Payout %

0.00%

29.47%

49.96%

50.20%

55.46%

31.96%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

278

482

493

521

Trade Payables

Total Liabilities

119

140

164

222

367

575

598

669

104

122

150

190

182

Capital Work in Progress

120

285

305

Cash & Bank

177

Total Assets

119

140

164

222

367

575

598

669

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cash from Investing

-20

-7

-35

-17

-30

-37

-127

-62

-164

-42

Cash from Financing

-2

120

180

-11

-10

-4

-5

-1

142

-136

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

54.40

4.17

4.40

5.04

4.23

4.20

4.15

4.16

3.13

3.92

14.36

15.03

14.85

15.98

16.01

16.74

16.75

13.33

10.55

Government

0.00

27.08

26.18

25.71

25.40

24.72

24.69

29.13

31.13

eMudhra Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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eMudhra Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI