EMA Partners India Ltd
Incorporated in 2003, EMA Partners India Limited is an executive search firm offering specialized hiring solutions.[1]
- Market Cap ₹ 188 Cr.
- Current Price ₹ 81.0
- High / Low ₹ 104 / 65.2
- Stock P/E 20.8
- Book Value ₹ 48.4
- Dividend Yield 0.00 %
- ROCE 11.1 %
- ROE 8.41 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company's working capital requirements have reduced from 74.2 days to 31.5 days
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 4.22% over last 3 years.
- Earnings include an other income of Rs.3.91 Cr.
* 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 | 11.28 | 31.18 | |
| Operating Profit | 4.32 | 3.48 | 1.34 | -0.34 | 9.11 |
| OPM % | 28.72% | 23.40% | 9.33% | -3.11% | 22.61% |
| 1.03 | 0.75 | 1.79 | 4.50 | 3.91 | |
| 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 | 1.53 | 1.38 | 0.82 | 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: | 50% |
| TTM: | 611% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 4% |
| 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 | 5.79 | 13.99 | |
| Total Liabilities | 35.49 | 32.87 | 40.37 | 109.04 | 126.85 |
| 8.96 | 8.53 | 9.65 | 17.12 | 16.33 | |
| CWIP | 0.00 | 0.00 | 7.50 | 0.00 | 0.20 |
| Investments | 8.73 | 10.25 | 10.00 | 21.00 | 43.00 |
| 17.80 | 14.09 | 13.22 | 70.92 | 67.32 | |
| Total Assets | 35.49 | 32.87 | 40.37 | 109.04 | 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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 42% | 189% | 87% | 256% | 98% |
Ratios
Standalone / 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 | 31.53 |
| ROCE % | 11.67% | 5.89% | -0.36% | 11.10% |
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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| Top 10 Client Concentration % of Revenue |
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| Operating Revenue per Fee Earner INR Lakhs |
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| Repeat Customer % of Customer Count % of Customer Count |
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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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Extracted by Screener AI
Documents
Announcements
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Regulation 74(5) certificate filed for quarter ended September 30, 2026; no rematerialisation requests received.
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Shareholders meeting
- EMA Partners India filed 23rd AGM voting results; all four resolutions passed on September 28, 2026.
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Trading Window
- Trading window closed from October 1, 2026 for unaudited half-year results.
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Press Release
- EMA Partners and STAIR Digital launch EMA STAIR Board Services on 29 September 2026.
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Shareholders meeting
- EMA Partners held 23rd AGM on September 28, 2026; approved financials, auditor reappointment, and director designation change.
Concalls
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Aug 2026PPT
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Aug 2026PPT
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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).