Empire Industries Ltd

₹ 1,094 3.34%

13 Nov - close price

empiremumbai.com BSE: 509525 NSE: EMPIND

About

Incorporated in 1900, Empire Industries Ltd is engaged in the business of manufacturing container glass, trading in frozen foods, indenting, and property development.^[1]

Key Points

Business Overview:^[1]^[2]
Empire Industries operates a diversified business model spanning Vitrum glass manufacturing, trading and distribution of machine tools, industrial equipment and frozen food products, vending machine services, commercial property leasing and real estate development. The trading and distribution business is the largest contributor to revenue, while manufacturing serves the pharmaceutical and beverage industries. The company also generates recurring lease rental income and undertakes real estate projects.

Website BSE NSE

Market Cap ₹ 656 Cr.
Current Price ₹ 1,094
High / Low ₹ 1,248 / 811
Stock P/E 10.6
Book Value ₹ 590
Dividend Yield 2.29 %
ROCE 18.0 %
ROE 15.6 %
Face Value ₹ 10.0

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Pros

Company has been maintaining a healthy dividend payout of 37.7%

Cons

The company has delivered a poor sales growth of 8.32% over past five years.
Company has a low return on equity of 13.2% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	154	153	152	152	163	176	186	167	180	189	195	184	194
YoY Sales growth	-17%	-11%	-14%	+3%	+6%	+15%	+23%	+10%	+10%	+7%	+5%	+10%	+7%
	135	146	129	135	144	158	170	151	159	171	162	164	164
Operating Profit	19	7	23	16	19	18	16	15	21	17	33	20	30
OPM %	12%	4.5%	15%	11%	12%	10%	9%	9%	12%	9%	17%	11%	15%
	3	15	5	3	4	5	3	3	5	5	5	6	5
Interest	8	5	8	5	7	7	8	5	8	6	10	5	8
Depreciation	4	4	4	4	4	4	5	4	4	4	4	4	4
Profit before tax	10	12	15	11	11	12	6	10	14	12	24	17	23
Tax %	20%	16%	17%	9%	13%	9%	32%	7%	10%	12%	21%	17%	22%
	8	10	13	10	10	11	4	10	12	11	19	14	18
EPS in Rs	13.43	17.03	21.00	16.15	16.35	17.53	7.40	16.03	20.65	17.63	31.58	23.62	29.48
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	352	385	405	473	526	575	490	544	682	606	677	731	761
Sales growth	+42%	+9%	+5%	+17%	+11%	+9%	-15%	+11%	+25%	-11%	+12%	+8%	+7%
	290	324	338	411	467	500	447	485	603	542	607	644	662
Operating Profit	63	61	67	62	59	75	43	59	79	64	70	87	100
OPM %	18%	16%	17%	13%	11%	13%	9%	11%	12%	11%	10%	12%	13%
	5	5	6	27	33	12	23	10	14	25	15	18	21
Interest	9	10	14	16	20	32	35	27	33	27	27	28	28
Depreciation	12	10	9	13	11	15	19	15	17	16	17	16	17
Profit before tax	46	47	50	60	61	40	13	28	43	46	40	60	76
Tax %	26%	34%	32%	22%	28%	15%	-4%	14%	17%	19%	14%	14%
	34	31	34	47	44	34	13	24	36	37	34	52	61
EPS in Rs	56.90	51.08	56.78	77.78	73.07	56.97	22.02	39.48	59.20	61.67	57.42	85.92	102.31
Dividend Payout %	42%	47%	44%	32%	34%	44%	114%	63%	42%	41%	44%	29%

Compounded Sales Growth
10 Years:	7%
5 Years:	8%
3 Years:	2%
TTM:	7%

Compounded Profit Growth
10 Years:	5%
5 Years:	32%
3 Years:	15%
TTM:	67%

Stock Price CAGR
10 Years:	-4%
5 Years:	8%
3 Years:	4%
1 Year:	1%

Return on Equity
10 Years:	13%
5 Years:	12%
3 Years:	13%
Last Year:	16%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
Equity Capital	6	6	6	6	6	6	6	6	6	6	6	6	6
Reserves	131	144	177	206	231	228	241	250	277	294	308	345	348
	94	139	130	182	225	321	259	232	183	168	150	172	176
	188	217	231	193	214	229	207	219	274	256	286	292	314
Total Liabilities	419	506	544	587	677	784	713	707	740	724	751	815	843
	135	217	215	217	213	317	303	352	317	315	304	301	295
CWIP	84	0	0	57	103	72	75	9	9	0	0	2	3
Investments	0	0	0	0	0	0	0	0	1	29	11	60	51
	199	289	329	313	361	395	335	346	412	380	435	453	495
Total Assets	419	506	544	587	677	784	713	707	740	724	751	815	843

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	40	34	48	20	-13	40	103	53	79	75	92	59
	-17	-3	-3	-49	-34	-45	-4	-2	29	-15	17	-51
	-23	13	-24	17	5	-5	-82	-45	-89	-52	-59	-20
Net Cash Flow	-1	44	21	-12	-41	-11	17	6	19	7	50	-13
Free Cash Flow	20	28	49	-34	-50	-9	96	44	103	64	86	46
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	87%	77%	96%	54%	2%	66%	242%	103%	80%	132%	133%	86%

Ratios

Standalone / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	61	74	68	71	80	70	64	83	104	97	76	68
Inventory Days	236	239	318	265	241	286	254	252	161	180	137	186
Days Payable	122	125	63	62	50	51	34	41	58	51	55	55
Cash Conversion Cycle	175	188	323	274	272	305	284	294	207	226	158	199
Working Capital Days	4	3	70	20	65	65	40	56	56	23	19	36
ROCE %	24%	22%	21%	17%	14%	14%	9%	11%	16%	15%	14%	18%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Vitrum Glass Division Turnover
INR crore

xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
xx.xx	xx.xx	xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
	xx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
	xxx		xxx	xx	xx	xx	xx	xx	xx
	xx		xxx	xxx	xxx	xxx	xxx	xxx	xxx

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Vitrum Glass Exports
INR crore

Vitrum Glass Production Capacity
million bottles per day

Empire Foods Division Turnover
INR crore

Commercial Property Occupancy - Lower Parel
%

Commercial Property Occupancy - Vikhroli IT Park
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%
	6.38%	6.38%	6.37%	5.95%	5.95%	5.95%	5.95%	5.95%	5.95%	5.95%	5.95%	5.85%
	21.06%	21.07%	21.07%	21.49%	21.50%	21.49%	21.50%	21.50%	21.49%	21.49%	21.48%	21.59%
No. of Shareholders	6,833	6,908	7,044	7,517	7,287	7,309	7,221	7,603	7,703	7,582	7,635	8,436

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%	72.55%
	14.75%	14.75%	14.75%	14.36%	12.49%	12.14%	8.55%	6.38%	5.95%	5.95%	5.85%
	12.70%	12.70%	12.70%	13.09%	14.96%	15.30%	18.89%	21.07%	21.49%	21.49%	21.59%
No. of Shareholders	4,977	5,011	5,567	5,497	5,694	5,593	6,514	6,908	7,309	7,582	8,436

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Empire Industries Ltd

Empire Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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