Emkay Global Financial Services Ltd

₹ 234 -2.01%

04 Jul - 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. It has 300+ clients. In FY23, company's PMS+AIF AUMs stood at Rs. 5,984 Mn. and Wealth AUMs at Rs. ** 2,348 Mn.**

Website BSE NSE - BE

Market Cap ₹ 597 Cr.
Current Price ₹ 234
High / Low ₹ 370 / 153
Stock P/E 10.1
Book Value ₹ 93.5
Dividend Yield 0.64 %
ROCE 25.7 %
ROE 28.8 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 47.5% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 18.5%
Debtor days have improved from 151 to 105 days.

Cons

Promoter holding has decreased over last quarter: -1.02%
Tax rate seems low
Contingent liabilities of Rs.185 Cr.
Earnings include an other income of Rs.23.9 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

Financial Services Financial Services Capital Markets Stockbroking & Allied

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	40	48	51	50	40	40	63	69	81	76	101	72	69
	44	40	44	44	50	49	58	58	69	62	73	62	66
Operating Profit	-4	7	7	5	-11	-9	5	11	11	14	28	10	3
OPM %	-9%	15%	13%	11%	-27%	-22%	8%	16%	14%	18%	28%	14%	4%
	6	1	1	1	8	7	7	8	8	7	6	6	5
Interest	1	1	1	1	1	1	1	2	2	2	2	2	2
Depreciation	2	2	2	2	2	2	2	2	3	2	2	2	3
Profit before tax	0	6	5	3	-6	-4	9	15	14	16	30	12	3
Tax %	-517%	42%	19%	-153%	-41%	-2%	18%	17%	38%	18%	17%	18%	-276%
	1	3	4	7	-4	-4	8	12	9	14	25	10	11
EPS in Rs	0.58	1.37	1.52	2.93	-1.51	-1.74	3.04	4.99	3.62	5.47	9.89	3.94	4.32
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	67	104	95	97	133	128	119	141	180	198	283	315
	65	77	76	79	103	110	123	122	155	177	234	259
Operating Profit	2	27	19	17	29	18	-4	19	25	21	49	56
OPM %	4%	26%	20%	18%	22%	14%	-4%	13%	14%	10%	17%	18%
	1	-36	0	-3	0	-0	0	3	4	-0	0	24
Interest	4	3	2	2	2	3	6	3	3	4	6	9
Depreciation	4	4	4	4	5	7	8	7	7	9	9	10
Profit before tax	-5	-16	13	7	23	7	-18	11	19	7	34	61
Tax %	1%	-1%	24%	38%	21%	31%	-30%	30%	28%	-53%	28%	4%
	-5	-16	10	5	18	5	-13	8	13	11	24	59
EPS in Rs	-2.13	-6.52	4.01	1.89	7.31	2.01	-5.11	3.25	5.41	4.31	9.91	23.22
Dividend Payout %	0%	0%	25%	53%	27%	50%	0%	31%	23%	23%	15%	17%

Compounded Sales Growth
10 Years:	12%
5 Years:	22%
3 Years:	21%
TTM:	12%

Compounded Profit Growth
10 Years:	11%
5 Years:	48%
3 Years:	72%
TTM:	138%

Stock Price CAGR
10 Years:	15%
5 Years:	36%
3 Years:	53%
1 Year:	39%

Return on Equity
10 Years:	10%
5 Years:	15%
3 Years:	19%
Last Year:	29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	24	24	24	24	25	25	25	25	25	25	25	25
Reserves	98	82	89	94	110	110	96	106	120	127	149	212
	27	21	9	29	10	12	10	7	33	18	51	85
	97	83	82	108	158	135	216	381	511	482	765	808
Total Liabilities	247	210	205	255	302	281	346	518	688	651	990	1,131
	39	36	34	35	32	35	38	34	31	37	37	37
CWIP	0	0	0	0	0	0	0	0	2	0	0	0
Investments	35	35	36	34	41	49	49	62	73	54	57	66
	173	140	135	186	229	196	259	422	582	560	896	1,027
Total Assets	247	210	205	255	302	281	346	518	688	651	990	1,131

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	20	3	36	-17	36	18	58	91	35	-69	-17	-20
	0	2	-0	-2	-4	-11	-10	-1	-2	34	4	-12
	-16	-10	-16	18	-25	-9	-14	-16	-8	-10	24	22
Net Cash Flow	5	-4	19	-1	6	-2	34	73	25	-45	11	-9

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	201	142	70	243	241	163	160	167	175	190	157	105
Inventory Days
Days Payable
Cash Conversion Cycle	201	142	70	243	241	163	160	167	175	190	157	105
Working Capital Days	52	-56	-190	-111	-173	-193	-429	-665	-565	-430	-524	-319
ROCE %	-1%	16%	12%	10%	17%	9%	-8%	10%	12%	7%	21%	26%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.34%	74.27%	73.89%	73.36%	72.36%
	0.81%	0.76%	0.76%	0.76%	0.76%	0.77%	0.76%	1.17%	0.76%	0.77%	0.83%	0.82%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.00%	0.00%	0.10%	0.10%
	24.70%	24.75%	24.75%	24.75%	24.74%	24.74%	24.74%	24.41%	24.97%	25.34%	25.71%	26.74%
No. of Shareholders	15,768	16,042	15,527	14,922	14,753	13,593	12,961	11,766	12,354	11,469	12,132	11,900

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	73.24%	71.95%	72.68%	74.55%	74.55%	74.49%	74.49%	74.34%	72.36%
	0.00%	0.06%	0.00%	0.00%	0.11%	0.83%	0.76%	1.17%	0.82%
	0.00%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.07%	0.10%
	0.00%	0.01%	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%
	1.75%	0.51%	0.51%	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

* 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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