Emkay Global Financial Services Ltd

About [ edit ]

Emkay Global Financial Services Ltd is engaged in the business of providing Stock Broking Services, Investment Banking, Depository Participant Services and Wealth Management Services.#

Key Points [ edit ]
  • Market Cap 172 Cr.
  • Current Price 69.8
  • High / Low 91.0 / 33.1
  • Stock P/E
  • Book Value 64.1
  • Dividend Yield 0.00 %
  • ROCE -5.67 %
  • ROE -7.92 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 1.09 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.87% over past five years.
  • Company has a low return on equity of 5.00% for last 3 years.
  • Contingent liabilities of Rs.170.69 Cr.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
40.40 39.10 35.81 33.97 34.62 33.78 33.23 33.06 34.33 32.38 41.78 37.76
32.65 29.08 31.01 29.89 30.80 32.12 32.99 31.99 41.14 29.87 33.43 32.86
Operating Profit 7.75 10.02 4.80 4.08 3.82 1.66 0.24 1.07 -6.81 2.51 8.35 4.90
OPM % 19.18% 25.63% 13.40% 12.01% 11.03% 4.91% 0.72% 3.24% -19.84% 7.75% 19.99% 12.98%
Other Income 0.47 0.21 0.76 0.18 1.94 0.29 0.79 0.23 0.32 0.47 0.55 0.98
Interest 0.81 1.53 1.68 1.90 1.43 1.56 2.81 1.31 1.17 0.99 1.13 1.44
Depreciation 1.20 1.52 1.69 1.90 1.94 1.64 1.85 2.13 2.10 1.82 1.87 1.92
Profit before tax 6.21 7.18 2.19 0.46 2.39 -1.25 -3.63 -2.14 -9.76 0.17 5.90 2.52
Tax % 24.15% 23.26% 52.51% 104.35% 22.18% -7.20% 45.18% 34.11% 26.95% -41.18% 35.93% 32.54%
Net Profit 4.68 5.81 1.04 -0.08 1.98 -1.42 -2.05 -1.52 -7.61 0.09 3.67 1.25
EPS in Rs 1.91 2.36 0.42 -0.03 0.80 -0.58 -0.83 -0.62 -3.09 0.04 1.49 0.51

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
98 125 129 114 99 82 117 105 109 156 147 135 146
93 103 104 103 99 76 82 82 85 111 124 137 137
Operating Profit 4 21 26 11 -0 6 34 24 24 45 23 -3 9
OPM % 4% 17% 20% 9% -0% 8% 29% 22% 22% 29% 15% -2% 6%
Other Income 3 2 0 0 0 1 -36 0 0 0 3 1 2
Interest 5 4 3 4 6 5 5 4 3 4 7 7 5
Depreciation 6 5 4 5 5 4 4 4 4 5 7 8 8
Profit before tax -4 15 18 2 -11 -3 -11 17 16 37 12 -17 -1
Tax % 24% 37% 35% 35% -31% -40% -49% 28% 26% 22% 31% 29%
Net Profit -3 9 12 1 -15 -4 -16 12 12 29 9 -13 -3
EPS in Rs -1.35 3.87 4.85 0.44 -6.05 -1.62 -6.44 4.92 4.99 11.66 3.55 -5.11 -1.05
Dividend Payout % 0% 26% 21% 114% 0% 0% 0% 20% 20% 17% 28% 0%
Compounded Sales Growth
10 Years:1%
5 Years:3%
3 Years:7%
TTM:9%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:40%
Stock Price CAGR
10 Years:3%
5 Years:5%
3 Years:-22%
1 Year:104%
Return on Equity
10 Years:4%
5 Years:7%
3 Years:5%
Last Year:-8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
24 24 24 24 24 24 24 24 24 25 25 25 25
Reserves 108 115 124 124 109 105 89 98 111 137 142 128 133
Borrowings 21 19 3 37 41 34 35 11 49 34 23 10 2
79 103 104 127 96 110 112 92 116 169 136 218 260
Total Liabilities 232 261 255 312 271 274 261 226 299 365 326 381 419
11 8 8 48 43 39 36 35 35 33 35 38 35
CWIP 0 0 21 0 0 0 0 0 0 0 0 0 0
Investments 9 16 3 3 1 3 4 11 26 36 28 16 55
212 237 224 261 227 232 221 180 237 296 263 327 329
Total Assets 232 261 255 312 271 274 261 226 299 365 326 381 419

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
1 18 42 -24 -5 18 -4 61 -22 30 21 96
4 -7 -14 -22 4 -2 3 -8 -15 -8 4 -1
-9 -4 -21 29 -0 -11 -2 -30 35 -20 -27 -26
Net Cash Flow -4 7 6 -18 -1 5 -3 24 -3 2 -1 68

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 0% 12% 14% 3% -3% 2% 19% 14% 12% 22% 9% -6%
Debtor Days 124 145 112 195 126 173 169 66 218 208 146 145
Inventory Turnover 13.14 15.36 24.50 57.00 1.79 0.47 0.39 0.85 9.84 1.46

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
71.82 71.70 71.70 72.68 74.55 74.55 74.55 74.55 74.55 74.55 74.55 74.55
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.11 0.11 0.11 0.11
0.04 0.05 0.08 0.00 0.01 0.00 0.02 0.00 0.00 0.00 0.00 0.00
0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
27.62 27.72 27.70 26.81 25.43 25.45 25.43 25.44 25.34 25.34 25.34 25.34
0.51 0.51 0.51 0.51 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

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