eMudhra Ltd

eMudhra Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

eMudhra Ltd

₹ 468 -0.21%
12 Jun - close price
emudhra.com BSE: 543533 NSE: EMUDHRA
About

Emudhra is a licensed certifying authority involved in issuing digital signature certificates in India under its eMudhra brand. The company is licensed by the Controller of Certifying Authorities (CCA), Ministry of Information Technology, and operates under the guidelines set by the Information technology Act.[1]

Key Points

Business Segments[1]
The company operates across 3 key business segments spanning enterprise solutions, digital trust services and transformation services.

Website BSE NSE
  • Market Cap ₹ 3,879 Cr.
  • Current Price ₹ 468
  • High / Low ₹ 842 / 365
  • Stock P/E 120
  • Book Value ₹ 69.9
  • Dividend Yield 0.27 %
  • ROCE 8.03 %
  • ROE 5.77 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 45.9%
  • Company's working capital requirements have reduced from 100 days to 77.2 days

Cons

  • Stock is trading at 6.70 times its book value
  • Company has a low return on equity of 4.72% over last 3 years.
  • Promoter holding has decreased over last 3 years: -3.30%

* 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

Information Technology Information Technology IT - Services IT Enabled Services

Part of BSE Information Technology BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
46.64 26.40 53.16 45.40 58.30 39.43 56.00 46.09 61.44 55.51 62.01 72.89 78.25
38.54 29.53 37.80 41.27 36.35 35.16 45.19 39.39 50.06 45.76 50.44 55.47 64.19
Operating Profit 8.10 -3.13 15.36 4.13 21.95 4.27 10.81 6.70 11.38 9.75 11.57 17.42 14.06
OPM % 17.37% -11.86% 28.89% 9.10% 37.65% 10.83% 19.30% 14.54% 18.52% 17.56% 18.66% 23.90% 17.97%
2.00 3.40 3.28 0.78 0.50 2.76 1.70 1.99 2.69 2.33 1.42 1.43 3.02
Interest 1.60 0.26 0.38 0.45 1.11 0.21 0.22 0.01 -0.42 0.00 0.00 0.00 1.56
Depreciation 2.80 3.40 3.90 3.94 4.18 3.85 3.85 3.86 3.68 3.98 4.01 4.00 3.96
Profit before tax 5.70 -3.39 14.36 0.52 17.16 2.97 8.44 4.82 10.81 8.10 8.98 14.85 11.56
Tax % 27.89% -24.19% 27.65% 23.08% 27.74% 28.96% 27.73% 29.67% 34.69% 28.15% 25.39% 21.35% 29.07%
4.11 -2.58 10.39 0.40 12.40 2.11 6.11 3.39 7.06 5.83 6.70 11.67 8.20
EPS in Rs 0.53 -0.33 1.33 0.05 1.50 0.25 0.74 0.41 0.85 0.70 0.81 1.41 0.99
Raw PDF

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
35 43 67 73 90 103 109 153 164 183 203 269
29 33 51 54 67 81 82 99 127 145 170 216
Operating Profit 6 10 16 20 23 22 28 54 37 39 33 53
OPM % 18% 23% 24% 27% 26% 22% 25% 35% 23% 21% 16% 20%
-12 0 0 -6 -2 0 0 1 6 8 9 8
Interest 0 0 0 0 1 1 1 5 3 2 0 2
Depreciation 3 3 4 4 7 7 7 11 12 15 15 16
Profit before tax -8 7 12 9 14 15 21 39 27 29 27 43
Tax % 10% 22% 29% 15% 28% 26% 27% 23% 26% 28% 31% 26%
-9 6 9 8 10 11 15 30 20 21 19 32
EPS in Rs -3.04 0.92 1.32 1.15 1.47 1.62 2.16 4.28 2.56 2.49 2.25 3.91
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 29% 49% 50% 55% 32%
Compounded Sales Growth
10 Years: 20%
5 Years: 20%
3 Years: 18%
TTM: 32%
Compounded Profit Growth
10 Years: 19%
5 Years: 16%
3 Years: 18%
TTM: 74%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 5%
1 Year: -38%
Return on Equity
10 Years: 8%
5 Years: 7%
3 Years: 5%
Last Year: 6%

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 30 31 35 35 35 35 35 35 39 41 41 41
Reserves -4 1 10 26 36 47 61 92 281 488 504 538
27 25 26 17 34 40 47 58 10 0 0 0
5 7 12 9 15 18 21 37 38 46 53 90
Total Liabilities 57 63 83 88 119 140 164 222 367 575 598 669
26 29 44 41 50 44 104 96 122 150 190 182
CWIP 4 1 1 6 21 39 4 31 47 28 0 10
Investments 15 16 17 17 22 21 19 22 73 120 285 305
13 18 21 23 26 36 37 73 125 276 124 171
Total Assets 57 63 83 88 119 140 164 222 367 575 598 669

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
22 5 15 11 29 36 17 25 38 53
-20 -7 -35 -17 -30 -38 -127 -62 -164 -42
5 -2 14 6 4 0 120 180 -11 -10
Net Cash Flow 7 -4 -5 -1 3 -1 10 142 -136 0
Free Cash Flow 3 -2 -15 -7 11 7 -36 -7 11 35
CFO/OP 158% 35% 83% 72% 110% 77% 84% 74% 133% 113%

Ratios

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
Debtor Days 29 26 14 27 51 63 46 73 77 93 94 84
Inventory Days 21 22 7 9 5 10 6 22 13 32 16 18
Days Payable 40 42 5 51 76 55 58 213 256 204 207 366
Cash Conversion Cycle 11 6 16 -15 -21 18 -6 -118 -166 -79 -97 -264
Working Capital Days 22 59 -49 12 -10 21 4 -10 90 120 103 77
ROCE % 13% 20% 21% 18% 14% 16% 27% 12% 7% 5% 8%

Insights

In beta
Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Dec 2025
Digital Signature Certificates (DSC) Issued
million

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Enterprise Customers (Active)
absolute
Number of Channel Partners (Digital Trust)
absolute
Market Share in Indian Trust Services (DSC Issuance Value)
%
Global Presence (Offices)
absolute
R&D Headcount
absolute
Revenue Mix - Recurring Revenue
%
Daily eSignature Workflows (emSigner)
absolute

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
57.70% 57.70% 57.70% 54.40% 54.40% 54.40% 54.40% 54.40% 54.40% 54.40% 54.40% 54.40%
4.28% 4.30% 3.85% 4.20% 4.17% 4.40% 5.04% 4.23% 4.20% 4.15% 4.16% 3.13%
9.87% 8.47% 9.12% 14.45% 14.36% 15.03% 14.85% 15.98% 16.01% 16.74% 16.75% 13.33%
28.15% 29.55% 29.35% 26.94% 27.08% 26.17% 25.72% 23.60% 23.76% 23.37% 23.54% 28.21%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.80% 1.64% 1.35% 1.15% 0.93%
No. of Shareholders 62,85166,03070,56173,65078,82480,88482,17580,01779,50779,35376,82669,646

* 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.

Click on the line-items to see the names of individual entities.

Documents

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