Indian Emulsifiers Ltd
Incorporated in 2020, Indian Emulsifiers
Ltd is in the business of Manufacturing
and Supplying of Speciality Chemicals[1]
- Market Cap ₹ 218 Cr.
- Current Price ₹ 119
- High / Low ₹ 251 / 85.7
- Stock P/E 13.1
- 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: | -51% |
| 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
-
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.
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Analysts/Institutional Investor Meet/Con. Call Updates
11 November 2025 - Audio recording of H1 FY26 earnings call (Nov 10, 2025) posted on company website.
-
Press Release
10 November 2025 - H1 FY26 revenue ₹76.98Cr, PAT ₹10.26Cr; AU subsidiary ₹75Cr order; land acquisition, 150-200% growth guidance.
-
Investor Presentation
8 November 2025 - H1FY26 revenue ₹76.98Cr; projects 150–200% growth; subsidiary order ~₹75Cr over 36 months; capacity 12,000 MTPA.
-
Outcome of Board Meeting
8 November 2025 - Unaudited H1 results (30 Sep 2025): Revenue Rs 7,698.04L, PAT Rs 1,026.94L, EPS Rs 8.40L per share.
Annual reports
Concalls
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Nov 2025Transcript PPT
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Oct 2025TranscriptNotesPPT
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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