Indian Emulsifiers Ltd
Incorporated in 2020, Indian Emulsifiers
Ltd is in the business of Manufacturing
and Supplying of Speciality Chemicals[1]
- Market Cap ₹ 174 Cr.
- Current Price ₹ 94.8
- High / Low ₹ 227 / 85.7
- Stock P/E 10.5
- Book Value ₹ 50.4
- Dividend Yield 0.00 %
- ROCE 23.6 %
- ROE 24.1 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.6%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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
Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 0 | 18 | 41 | 67 | 101 | 127 | |
| 0 | 17 | 33 | 52 | 82 | 102 | |
| Operating Profit | 0 | 1 | 8 | 15 | 20 | 24 |
| OPM % | 5% | 19% | 22% | 19% | 19% | |
| 0 | 0 | 0 | 0 | 1 | 1 | |
| Interest | 0 | 0 | 2 | 2 | 2 | 2 |
| Depreciation | 0 | 0 | 1 | 2 | 2 | 2 |
| Profit before tax | 0 | 0 | 5 | 11 | 16 | 20 |
| Tax % | 67% | 16% | 18% | 19% | ||
| 0 | 0 | 4 | 9 | 13 | 17 | |
| EPS in Rs | 0.04 | 4.32 | 6.53 | 7.27 | 9.06 | |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 79% |
| TTM: | 52% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 593% |
| TTM: | 38% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -58% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 32% |
| Last Year: | 24% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 6 | 6 | 9 | 12 | 12 |
| Reserves | 0 | 0 | 4 | 19 | 70 | 80 |
| 1 | 13 | 22 | 24 | 26 | 32 | |
| 0 | 0 | 2 | 12 | 10 | 19 | |
| Total Liabilities | 1 | 19 | 34 | 64 | 117 | 144 |
| 0 | 10 | 13 | 17 | 19 | 27 | |
| CWIP | 0 | 0 | 0 | 3 | 21 | 13 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 1 | 9 | 22 | 44 | 77 | 103 | |
| Total Assets | 1 | 19 | 34 | 64 | 117 | 144 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 0 | -6 | 0 | 0 | -17 | |
| 0 | -2 | -0 | -8 | -24 | |
| 0 | 8 | 0 | 8 | 40 | |
| Net Cash Flow | 0 | -0 | 0 | 0 | -0 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 60 | 71 | 101 | 110 | |
| Inventory Days | 32 | 106 | 162 | 185 | |
| Days Payable | 0 | 11 | 69 | 33 | |
| Cash Conversion Cycle | 92 | 166 | 195 | 263 | |
| Working Capital Days | 125 | 97 | 115 | 172 | |
| ROCE % | 6% | 26% | 31% | 24% |
Documents
Announcements
-
Address Change
12 December 2025 - Registered office moved within Sumer Kendra, Worli from Shop 206 Floor-2 to 107 Floor-1; approved Dec 12, 2025.
-
General Updates
25 November 2025 - Corrigendum: Monitoring Agency Agreement executed October 27, 2025, not October 1; rights issue details unchanged.
-
Committee Meeting Updates
24 November 2025 - Allotment of 61,11,000 rights shares at ₹80 each on Nov 24, 2025; proceeds ₹48,88,80,000.
-
Analysts/Institutional Investor Meet/Con. Call Updates
13 November 2025 - H1FY26 revenue Rs76.98cr; PBT Rs12.39cr; Rs49cr rights issue; AU subsidiary first order; Rs17–18cr capex.
-
Analysts/Institutional Investor Meet/Con. Call Updates
11 November 2025 - Audio recording of H1 FY26 earnings call (Nov 10, 2025) posted on company website.
Annual reports
Concalls
-
Nov 2025Transcript PPT
-
Oct 2025TranscriptAI SummaryPPT
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May 2025Transcript PPT REC
Product Portfolio & Industrial Application[1]
a) Esters - Widely used in lubricants, cosmetics, and personal care products
b) Amphoterics - Common in industrial cleaners and personal care formulations
c) Imidazolines ** - Corrosion inhibitors, emulsifiers, and anti-static agents
d) Phosphate Esters - Flame retardants, anti-wear additives, emulsifiers in metalworking and textile chemicals
e) Wax Emulsions - Coatings, polishes, textiles, and paper finishing
f) SMO & PIBSA Emulsifiers **- Used in oilfield, lubricants, and fuel additives