EMA Partners India Ltd
Incorporated in 2003, EMA Partners India Limited is an executive search firm offering specialized hiring solutions.[1]
- Market Cap ₹ 169 Cr.
- Current Price ₹ 72.8
- High / Low ₹ 133 / 71.0
- Stock P/E 13.1
- Book Value ₹ 62.9
- Dividend Yield 0.00 %
- ROCE 12.8 %
- ROE 10.4 %
- Face Value ₹ 5.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.16 times its book value
- Debtor days have improved from 86.3 to 65.0 days.
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Earnings include an other income of Rs.6.74 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.
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 57 | 50 | 67 | 74 | 75 | |
| 43 | 46 | 51 | 61 | 64 | |
| Operating Profit | 14 | 4 | 17 | 13 | 12 |
| OPM % | 25% | 8% | 25% | 18% | 16% |
| 1 | 1 | 2 | 5 | 7 | |
| Interest | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 1 | 1 | 1 | 2 | 2 |
| Profit before tax | 14 | 4 | 17 | 16 | 16 |
| Tax % | 17% | 25% | 12% | 21% | |
| 11 | 3 | 15 | 12 | 13 | |
| EPS in Rs | 225.40 | 72.59 | 337.43 | 5.42 | 5.56 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -3% |
| TTM: | -17% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -39% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 15% |
| Last Year: | 10% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 0.05 | 0.04 | 0.04 | 12 | 12 |
| Reserves | 39 | 40 | 54 | 126 | 135 |
| 4 | 1 | 8 | 1 | 1 | |
| 15 | 13 | 15 | 16 | 8 | |
| Total Liabilities | 58 | 53 | 77 | 154 | 155 |
| 10 | 9 | 13 | 20 | 20 | |
| CWIP | 0 | 0 | 8 | 0 | 0 |
| Investments | 7 | 8 | 9 | 44 | 31 |
| 41 | 35 | 47 | 91 | 103 | |
| Total Assets | 58 | 53 | 77 | 154 | 155 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 8 | 3 | 12 | 13 | |
| -3 | -1 | -18 | -79 | |
| -1 | -6 | 7 | 63 | |
| Net Cash Flow | 4 | -4 | 1 | -4 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 89 | 92 | 102 | 65 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 89 | 92 | 102 | 65 |
| Working Capital Days | 7 | 21 | 34 | 24 |
| ROCE % | 9% | 32% | 13% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|
| Fee Earners Headcount Number |
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| Operating revenue per fee earning employee INR Lakhs |
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| Executive Search Professionals Headcount Number |
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| New Client Contribution % |
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| Number of Clients Number |
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| Repeat Business Contribution % |
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| Assignments per Employee (Projected Steady State) Number |
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| Employee Productivity (Projected Steady State) INR Mn per year |
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| Indian Executive Search Market Share % |
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| Number of Offices Number |
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| Presence - Number of Countries Number |
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| Total Group Headcount Number |
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Documents
Announcements
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Analysts/Institutional Investor Meet/Con. Call Updates
17 March 2026 - EMA Partners to participate in 11th Valorem Conference on 23 March 2026 at Grand Hyatt-Kalina, Mumbai.
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Updates
10 March 2026 - EMA Partners: Alacrity stops as market maker March 31, 2026; R. K. Stock Holding starts April 1, 2026.
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Analysts/Institutional Investor Meet/Con. Call Updates
9 March 2026 - One-on-one meeting on 12 Mar 2026 10:00 AM with Sixteenth Street Capital; CMD to represent; no UPSI.
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Copy of Newspaper Publication
26 February 2026 - Proposed special resolution to vary IPO proceeds utilization and extend timeline to March 2028; PAS-1 published.
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Copy of Newspaper Publication
26 February 2026 - EMA Partners published newspaper notice confirming postal ballot dispatch; cut-off date February 20, 2026; publications enclosed.
Annual reports
Concalls
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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).