Emkay Global Financial Services Ltd

₹ 254 -0.92%

23 Oct - close price

About

Incorporated in 1995, Emkay Global Financial Services Ltd is in the business of providing
capital market services^[1]

Key Points

Business Overview:^[1]^[2]^[3]
EGFSL is a 360 degree financial services provider of institutional broking, asset management, wealth/ portfolio management, succession planning, investment banking, currency, depository participant, equity
broking, commodity broking, distribution
of financial products and investment banking operations. Company has a track record of 30 years in financial services, 3 business verticals, and Category-I merchant banking status, supported by 19 branches, 544 employees, 39,400+ clients, and ₹193.8bn assets.

Website BSE NSE

Market Cap ₹ 709 Cr.
Current Price ₹ 254
High / Low ₹ 342 / 185
Stock P/E 44.9
Book Value ₹ 118
Dividend Yield 0.59 %
ROCE 8.78 %
ROE 4.44 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 21.8%

Cons

Contingent liabilities of Rs.434 Cr.
Earnings include an other income of Rs.18.1 Cr.
Company has high debtors of 166 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

Financial Services Financial Services Capital Markets Stockbroking & Allied

Part of BSE Financial Services

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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
	40.27	63.49	69.09	80.65	76.54	100.68	72.43	69.31	65.30	63.57	79.49	143.55	83.00
	49.06	58.19	58.00	69.36	62.01	72.94	62.00	66.41	61.22	64.31	71.83	127.08	72.26
Operating Profit	-8.79	5.30	11.09	11.29	14.53	27.74	10.43	2.90	4.08	-0.74	7.66	16.47	10.74
OPM %	-21.83%	8.35%	16.05%	14.00%	18.98%	27.55%	14.40%	4.18%	6.25%	-1.16%	9.64%	11.47%	12.94%
	7.04	7.34	8.00	7.76	6.28	6.50	6.42	5.15	4.55	4.49	4.66	4.50	4.43
Interest	0.69	1.48	1.84	2.11	2.17	2.19	2.36	2.29	3.32	3.86	4.87	5.47	5.57
Depreciation	1.92	2.00	2.39	2.59	2.20	2.35	2.50	2.85	2.52	2.88	3.11	3.24	2.62
Profit before tax	-4.36	9.16	14.86	14.35	16.44	29.70	11.99	2.91	2.79	-2.99	4.34	12.26	6.98
Tax %	-1.83%	18.23%	17.03%	37.77%	17.64%	17.31%	17.76%	-276.29%	1.08%	-29.77%	27.88%	33.77%	4.87%
	-4.28	7.50	12.32	8.93	13.53	24.56	9.86	10.96	2.76	-2.11	3.13	8.12	6.65
EPS in Rs	-1.74	3.04	4.99	3.62	5.47	9.89	3.94	4.32	1.08	-0.82	1.21	3.10	2.43
Raw PDF

Upcoming result date: 28 October 2026

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
	104	95	97	133	128	119	141	180	198	283	339	367	370
	77	76	79	103	110	123	122	155	177	234	260	321	335
Operating Profit	27	19	17	29	18	-4	19	25	21	48	79	46	34
OPM %	26%	20%	18%	22%	14%	-3.7%	13%	14%	10%	17%	23%	12%	9%
	-36	0	-3	0	-0	0	3	4	-0	1	1	0	18
Interest	3	2	2	2	3	6	3	3	4	6	9	18	20
Depreciation	4	4	4	5	7	8	7	7	9	9	10	12	12
Profit before tax	-16	13	7	23	7	-18	11	19	7	34	61	16	21
Tax %	-1%	24%	38%	21%	31%	-30%	30%	28%	-53%	28%	4%	27%
	-16	10	5	18	5	-13	8	13	11	24	59	12	16
EPS in Rs	-6.52	4.01	1.89	7.31	2.01	-5.11	3.25	5.41	4.31	9.91	23.22	4.54	5.92
Dividend Payout %	0%	25%	53%	27%	50%	0%	31%	23%	23%	15%	17%	33%

Compounded Sales Growth
10 Years:	14%
5 Years:	21%
3 Years:	23%
TTM:	20%

Compounded Profit Growth
10 Years:	2%
5 Years:	12%
3 Years:	1%
TTM:	-67%

Stock Price CAGR
10 Years:	14%
5 Years:	17%
3 Years:	42%
1 Year:	-22%

Return on Equity
10 Years:	9%
5 Years:	13%
3 Years:	15%
Last Year:	4%

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
Equity Capital	24	24	24	25	25	25	25	25	25	25	25	26
Reserves	82	89	94	110	110	96	106	120	127	149	212	283
	21	9	29	10	12	10	7	33	18	51	86	148
	83	82	108	158	135	216	381	511	482	765	808	1,239
Total Liabilities	210	205	255	302	281	346	518	688	651	990	1,131	1,697
	36	34	35	32	35	38	34	31	37	37	37	37
CWIP	0	0	0	0	0	0	0	2	0	0	0	0
Investments	35	36	34	41	49	49	62	73	54	57	66	70
	140	135	186	229	196	259	422	582	560	896	1,027	1,589
Total Assets	210	205	255	302	281	346	518	688	651	990	1,131	1,697

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
	3	36	-17	36	18	58	91	35	-69	-16	-19	-80
	2	-0	-2	-4	-11	-10	-1	-2	34	3	-12	-11
	-10	-16	18	-25	-9	-14	-16	-8	-10	24	22	102
Net Cash Flow	-4	19	-1	6	-2	34	73	25	-45	11	-9	11
Free Cash Flow	1	34	-22	34	15	53	88	30	-76	-22	-26	-89
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	14%	195%	-91%	138%	102%	-1,354%	497%	148%	-317%	-28%	-16%	-147%

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	142	70	243	241	163	160	167	175	190	157	98	166
Inventory Days
Days Payable
Cash Conversion Cycle	142	70	243	241	163	160	167	175	190	157	98	166
Working Capital Days	-128	-225	-220	-201	-193	-429	-665	-565	-430	-524	-303	-553
ROCE %	16%	12%	10%	17%	9%	-8%	10%	12%	7%	20%	26%	9%

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

Emkay's Average Daily Turnover (ADTO)
INR Bn

x,xxx		x,xxx	xx,xxx	xxx	x,xxx	x,xxx	xx,xxx	x,xxx	x,xxx	x,xxx
			xxx	x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	xx,xxx	xx,xxx
				x,xxx	x,xxx	x,xxx	x,xxx	x,xxx	xx,xxx	xx,xxx
x,xxx	xx,xxx	xx,xxx				xx,xxx		xx,xxx	xxx,xxx	xx,xxx
x	x	x				x		x	xx	x
				xx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
		xx				x	xx	xx	xx	xx
xxx						xxx	xxx	xxx	xxx	xxx

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Number of Wealth Management Clients
count

Asset Management AUM (PMS + AIF)
INR Mn

ECM Transactions Deal Value
INR Mn

ECM Transactions Executed (Number)
count

Wealth Management AUM
INR Mn

Number of Branches (Wealth Management)
count

Number of Stocks Under Research Coverage
count

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
	74.49%	74.34%	74.27%	73.89%	73.36%	72.36%	72.03%	71.68%	71.91%	72.20%	72.83%	72.88%
	0.76%	1.17%	0.76%	0.77%	0.83%	0.82%	0.85%	0.88%	0.80%	0.84%	0.75%	0.88%
	0.00%	0.07%	0.00%	0.00%	0.10%	0.10%	0.01%	0.03%	0.05%	0.01%	0.01%	0.01%
	24.74%	24.41%	24.97%	25.34%	25.71%	26.74%	27.11%	27.41%	27.24%	26.93%	26.43%	26.23%
No. of Shareholders	12,961	11,766	12,354	11,469	12,132	11,900	11,436	12,349	11,470	11,620	11,843	11,663

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	73.24%	71.95%	72.68%	74.55%	74.55%	74.49%	74.49%	74.34%	72.36%	72.20%	72.88%
	0.00%	0.06%	0.00%	0.00%	0.11%	0.83%	0.76%	1.17%	0.82%	0.84%	0.88%
	0.00%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.10%	0.01%	0.01%
	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	25.01%	27.43%	26.81%	25.44%	25.34%	24.69%	24.75%	24.41%	26.74%	26.93%	26.23%
	1.75%	0.51%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
No. of Shareholders	6,314	9,855	9,410	8,779	9,869	15,350	14,922	11,766	11,900	11,620	11,663

* 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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