EMA Partners India Ltd
Incorporated in 2003, EMA Partners India Limited is an executive search firm offering specialized hiring solutions.[1]
- Market Cap ₹ 190 Cr.
- Current Price ₹ 81.6
- High / Low ₹ 112 / 65.2
- Stock P/E 21.6
- Book Value ₹ 48.4
- Dividend Yield 0.00 %
- ROCE 10.7 %
- ROE 8.15 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 4.65% over last 3 years.
- Earnings include an other income of Rs.3.93 Cr.
- Working capital days have increased from 169 days to 315 days
* 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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Part of Nifty SME Emerge
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 15.04 | 14.87 | 14.36 | 10.94 | 40.29 | |
| 10.72 | 11.39 | 13.02 | 11.30 | 31.20 | |
| Operating Profit | 4.32 | 3.48 | 1.34 | -0.36 | 9.09 |
| OPM % | 28.72% | 23.40% | 9.33% | -3.29% | 22.56% |
| 1.03 | 0.75 | 1.79 | 4.52 | 3.93 | |
| Interest | 0.38 | 0.16 | 0.15 | 0.48 | 0.04 |
| Depreciation | 0.66 | 0.65 | 0.73 | 1.25 | 1.41 |
| Profit before tax | 4.31 | 3.42 | 2.25 | 2.43 | 11.57 |
| Tax % | 28.54% | 18.71% | 26.67% | 18.52% | 24.20% |
| 3.08 | 2.77 | 1.65 | 1.97 | 8.77 | |
| EPS in Rs | 61.60 | 65.50 | 39.02 | 0.85 | 3.77 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 39% |
| TTM: | 268% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 48% |
| TTM: | 1515% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -17% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 5% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.04 | 0.04 | 11.62 | 11.62 |
| Reserves | 27.94 | 28.22 | 29.87 | 91.04 | 100.90 |
| 3.43 | 0.14 | 6.55 | 0.59 | 0.34 | |
| 4.07 | 4.47 | 3.91 | 5.75 | 13.99 | |
| Total Liabilities | 35.49 | 32.87 | 40.37 | 109.00 | 126.85 |
| 8.96 | 8.53 | 9.65 | 17.12 | 16.52 | |
| CWIP | 0.00 | 0.00 | 7.50 | 0.00 | 0.00 |
| Investments | 8.73 | 10.25 | 10.00 | 21.00 | 43.00 |
| 17.80 | 14.09 | 13.22 | 70.88 | 67.33 | |
| Total Assets | 35.49 | 32.87 | 40.37 | 109.00 | 126.85 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 0.81 | 5.57 | 0.78 | -1.67 | 5.47 | |
| -1.84 | -1.72 | -7.91 | -62.84 | 9.26 | |
| -0.49 | -5.79 | 6.29 | 63.32 | -0.29 | |
| Net Cash Flow | -1.52 | -1.94 | -0.84 | -1.18 | 14.44 |
| Free Cash Flow | 0.17 | 5.35 | -8.57 | -2.90 | 4.63 |
| CFO/OP | 42% | 189% | 87% | 242% | 98% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 141.49 | 138.19 | 165.47 | 63.06 | 100.01 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 141.49 | 138.19 | 165.47 | 63.06 | 100.01 |
| Working Capital Days | 45.87 | 53.51 | 84.64 | 106.43 | 314.72 |
| ROCE % | 11.67% | 5.89% | -0.37% | 10.74% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Fee Earners (Search Consultants) Count |
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| India Revenue Share (Geographic Mix) % of Revenue |
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| Operating Revenue per Fee Earner INR Lakhs |
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| Repeat Customer % of Revenue % of Revenue |
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| Core Executive Search (EMA) Revenue Share % of Revenue |
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| Top 10 Client Concentration % of Revenue |
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Extracted by Screener AI
Documents
Announcements
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
13 July 2026 - Filed Regulation 74(5) certificate for quarter ended June 30, 2026; shares remain fully dematerialised.
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General Updates
10 July 2026 - EMA Partners granted 3,29,500 ESOS 2024 options and 20,000 ESOS 2025 options at Rs 80.35 each.
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General Updates
6 July 2026 - EMA Partners subscribed to 66,691 Taggd shares for ₹7.61 crore on July 6, 2026.
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Outcome of Board Meeting
2 July 2026 - Board approved ₹89.14 crore purchase of Taggd shares and ₹7.61 crore preferential subscription.
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General Updates
2 July 2026 - EMA Partners approves ₹89.14 crore acquisition of Taggd and ₹7.61 crore share subscription.
Annual reports
Concalls
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Apr 2026Transcript PPT REC
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Nov 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT
Business Model[1]
EMA Partners India Limited is an executive search firm specializing in leadership hiring solutions across multiple sectors. The business is supported by its subsidiaries operating in different geographies and serving distinct market segments.
Services Offered[2]
1. C-Suite and Board-Level Hiring: Through "EMA Partners" for India, the Middle East, and Singapore.
2. Mid to Senior-Level Hiring: Via "James Douglas Professional Search" in India and the Middle East.
3. Entry to Mid-Level Hiring: Using the "MyRCloud" AI-powered recruitment platform.
4. Consultancy: Leadership and HR consulting services through inactive subsidiaries (reassessing market opportunities).