Emerald Tyre Manufacturers Ltd
Incorporated in 2002, Emerald Tyre Manufacturers specializes in manufacturing, supplying, and servicing a wide range of tyres.[1]
- Market Cap ₹ 133 Cr.
- Current Price ₹ 68.3
- High / Low ₹ 122 / 58.1
- Stock P/E 15.2
- Book Value ₹ 65.3
- Dividend Yield 1.46 %
- ROCE 11.0 %
- ROE 7.06 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 1.05 times its book value
- Company has been maintaining a healthy dividend payout of 18.2%
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of 11.3% over last 3 years.
* 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
Consumer Discretionary Automobile and Auto Components Auto Components Tyres & Rubber Products
Part of Nifty SME Emerge
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 71 | 77 | 122 | 151 | 154 | 182 | 203 | |
| Sales growth | +8% | +60% | +23% | +2% | +18% | +12% | |
| 61 | 65 | 107 | 130 | 126 | 157 | 178 | |
| Operating Profit | 10 | 11 | 15 | 21 | 28 | 25 | 25 |
| OPM % | 14% | 15% | 12% | 14% | 18% | 14% | 12% |
| 3 | 1 | 1 | 2 | 2 | 3 | 7 | |
| Interest | 9 | 7 | 6 | 8 | 9 | 9 | 13 |
| Depreciation | 4 | 4 | 3 | 4 | 5 | 6 | 7 |
| Profit before tax | 0 | 2 | 6 | 10 | 16 | 13 | 12 |
| Tax % | 43% | 37% | 33% | 30% | 20% | 29% | 27% |
| 0 | 1 | 4 | 7 | 13 | 9 | 9 | |
| EPS in Rs | 0.08 | 1.06 | 3.20 | 5.42 | 8.82 | 4.79 | 4.49 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 11% | 21% | 22% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 22% |
| 3 Years: | 10% |
| TTM: | 12% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 46% |
| 3 Years: | 7% |
| TTM: | -7% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -42% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 12% |
| 3 Years: | 11% |
| Last Year: | 7% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 7 | 7 | 14 | 19 | 19 |
| Reserves | 23 | 27 | 34 | 41 | 52 | 101 | 108 |
| 58 | 62 | 67 | 79 | 74 | 78 | 123 | |
| 22 | 20 | 32 | 28 | 32 | 39 | 37 | |
| Total Liabilities | 109 | 116 | 140 | 155 | 173 | 237 | 288 |
| 33 | 29 | 31 | 45 | 54 | 56 | 130 | |
| CWIP | 3 | 4 | 10 | 7 | 6 | 30 | 0 |
| Investments | 5 | 7 | 7 | 6 | 6 | 6 | 11 |
| 67 | 76 | 91 | 97 | 106 | 145 | 147 | |
| Total Assets | 109 | 116 | 140 | 155 | 173 | 237 | 288 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 9 | -2 | 10 | 11 | 21 | 3 | 22 | |
| -1 | -0 | -20 | -34 | -14 | -31 | -56 | |
| -8 | 3 | 9 | 24 | -6 | 39 | 31 | |
| Net Cash Flow | -0 | 1 | -0 | 1 | 0 | 11 | -2 |
| Free Cash Flow | 8 | -2 | -10 | -15 | 7 | -28 | -29 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 102% | -11% | 73% | 61% | 86% | 28% | 109% |
Ratios
Standalone / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 113 | 143 | 107 | 99 | 107 | 109 | 119 |
| Inventory Days | 360 | 322 | 208 | 178 | 204 | 187 | 177 |
| Days Payable | 126 | 101 | 72 | 68 | 82 | 89 | 69 |
| Cash Conversion Cycle | 348 | 365 | 243 | 208 | 230 | 207 | 227 |
| Working Capital Days | 32 | 74 | 35 | 26 | 45 | 43 | 65 |
| ROCE % | 10% | 12% | 16% | 19% | 13% | 11% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Capacity Utilization - Industrial Pneumatic % |
|
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| Capacity Utilization - Solid Resilient % |
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| Production Volume - Industrial Pneumatic Tyres MT |
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| Production Volume - Press On Band MT |
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| Production Volume - Solid Resilient Tyres MT |
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| Production Volume - Wheel Rims MT |
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| Solid Tyres Revenue Share % |
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| Export Share of Revenue % |
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| Production Volume - Total Off Highway Tyres & Wheels MT |
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| R&D Expenditure (Percentage of Turnover) % |
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Extracted by Screener AI
Documents
Announcements
-
Copy of Newspaper Publication
- Standalone and consolidated unaudited results for half year ended 30 September 2026 published in newspapers.
-
Outcome of Board Meeting
- Board approved H1 FY27 standalone and consolidated results; standalone PAT Rs101.10 lakh, consolidated PAT Rs195.66 lakh.
-
Outcome of Board Meeting
- Board approved H1 FY27 unaudited results; standalone profit rose to Rs101.10 lakh, consolidated Rs195.66 lakh.
-
Analysts/Institutional Investor Meet/Con. Call Updates
- Earnings call on 17 Nov 2026 at 4:00 PM to discuss H1 FY27 results.
-
General Updates
- Subsidiary SA Rubber Engineering Pty. Ltd. renamed Emerald Tyres Africa Pty Limited effective 21 October 2026.
Annual reports
-
Annual Report 2026
from nse
-
Annual Report 2025
from nse
Concalls
-
Dec 2025Transcript PPT
-
Sep 2025PPT
-
Feb 2025PPT
Business Overview:[1]
ETML (formerly known as Emerald Resilient
Tyre Manufacturers Pvt Ltd) is engaged in manufacturing solid tyres and industrial pneumatic tyres catering to the material
handling industry. The industrial pneumatic tyres are made up of rubber and tyre cord and inflated with air pressure inside the tyre, while solid tyres are completely made up of solid materials, mainly rubber. These tyres are used mainly in equipment such as forklifts, trolleys, reach trucks, trailers, ground support equipment (GSE), and road pavers, etc.