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Stock Analysis

Description

Emami is engaged in manufacturing & marketing of personal care & healthcare products with an enviable portfolio of household brand names such as BoroPlus, Navratna, Fair and Handsome, Zandu Balm, Kesh King, Zandu Pancharishta, Mentho Plus Balm and others.

Key Growth Triggers

Leadership
The company is one of India’s leading FMCG Companies engaged in the manufacturing & marketing of personal care & healthcare products.

Order Book

Currently no data available for Order Book.

Key Red Flags

Promoter entities Diwakar Finvest Private Limited and Suraj Finvest Private Limited reported release and creation of pledges on Emami Limited shares between January 7-14, 2026, as per agreements with lenders.

Key Dates To Watch

January 15, 2026 (Filing date of promoter share transaction disclosures).

Corporate Announcements

2nd Apr 26

Impact Rating: 8

Emami Limited announces definitive agreement to acquire the remaining stake in Axiom Ayurveda Pvt Ltd for up to ₹200 crore, marking its formal entry into the growing beverage sector.

1st Apr 26

Impact Rating: 9

Emami Limited announced the acquisition of approximately 36.7% stake in Axiom Ayurveda Private Limited (AAPL) for ₹546.00 lakh (₹5.46 cr), resulting in AAPL becoming its subsidiary. The remaining shares are expected to be acquired by June 2026.

31st Mar 26

Impact Rating: -

No description available.

31st Mar 26

Impact Rating: 7

Emami Limited announced acquiring the remaining ~73.5% stake in associate Axiom Ayurveda for up to ₹200 Crores. The deal aims to make Axiom a wholly-owned subsidiary by June 30, 2026.

27th Mar 26

Impact Rating: 6

Diwakar Finvest and Suraj Finvest have announced the release of a significant portion of their encumbered shares in Emami Limited, involving transactions with Standard Chartered Capital Limited.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Godrej Consumer	1226.90	66.69	125541.88	1.22	459.34	-2.86	3825.09	4.33	19.21	14853.33	19.81	1882.61	481.14	10.32	9.93	0.34
2.	Dabur India	513.75	50.37	91123.33	1.56	444.79	6.48	3191.32	5.37	20.24	12781.29	18.50	1808.97	452.55	8.32	11.06	0.12
3.	Colgate-Palmoliv	2092.30	42.92	56907.55	2.44	327.51	-17.10	1519.50	-6.15	105.34	5877.91	31.82	1325.91	327.51	35.96	46.23	0.04
4.	P & G Hygiene	12336.00	48.44	40043.56	0.89	209.86	-0.96	1150.17	1.32	103.79	4326.46	26.15	826.61	209.86	43.00	32.72	0.00
5.	Gillette India	8039.00	45.64	26199.10	1.39	143.65	8.00	810.81	3.71	56.06	2970.55	27.82	573.99	143.65	22.53	21.84	0.00
6.	Emami	501.95	26.90	21910.12	1.59	182.34	-14.83	604.47	-14.74	33.97	3020.17	29.38	814.57	182.34	6.99	26.56	0.01
7.	Cupid	464.85	202.17	12479.70	0.00	24.12	140.24	90.21	90.80	17.10	266.82	33.52	61.73	24.12	32.74	11.99	0.07
–	Median: 14 Co.	483.4	50.37	10922.74	0.14	42.29	6.48	526.69	5.37	19.21	1560.15	22.98	130.47	42.29	10.32	12.83	0.04

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	685	836	698	698	701	813	709	755	709	879	781	756	604
Expenses	502	563	552	524	494	530	521	564	483	550	590	556	437
Operating Profit	183	273	146	173	207	283	188	192	226	328	191	201	168
Other Income	7	8	11	8	10	19	26	47	34	10	66	21	54
Profit before tax	147	238	113	139	176	261	171	199	221	298	217	182	181
Tax %	2%	5%	4%	7%	7%	5%	11%	11%	3%	6%	13%	10%	-1%
Net Profit	144	225	109	129	164	249	152	176	214	279	190	163	182
EPS in Rs	3.26	5.09	2.46	2.94	3.75	5.71	3.48	4.03	4.90	6.40	4.35	3.74	4.18

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	1,595	1,904	2,150	2,302	2,354	2,489	2,390	2,582	2,867	2,907	2,922	3,124	3,020
Expenses	1,167	1,393	1,495	1,562	1,654	1,782	1,798	1,738	1,970	2,129	2,070	2,186	2,133
Operating Profit	428	511	655	739	700	706	592	845	897	777	852	937	887
Other Income	61	103	38	45	28	27	91	103	123	48	63	157	151
Interest	4	5	54	58	33	19	19	12	3	4	2	2	2
Depreciation	33	31	252	305	305	318	326	361	328	215	167	158	159
Profit before tax	452	577	387	422	389	396	338	574	689	606	747	934	877
Net Profit	398	472	332	346	310	305	289	475	851	574	693	859	815
EPS in Rs	8.77	10.39	7.32	7.63	6.82	6.72	6.37	10.69	19.28	13.00	15.89	19.68	18.67
Dividend Payout %	40%	34%	48%	46%	51%	59%	63%	75%	41%	62%	50%	51%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	23	23	23	23	23	45	45	44	44	44	44	44	44
Reserves	906	1,189	1,537	1,690	1,949	2,019	1,757	1,715	2,042	2,220	2,339	2,824	3,090
Borrowings	31	24	660	435	279	54	158	47	224	21	22	14	16
Other Liabilities	300	320	312	294	347	464	475	498	516	467	441	503	402
Total Liabilities	1,260	1,556	2,532	2,441	2,598	2,583	2,435	2,304	2,826	2,751	2,847	3,384	3,552
Fixed Assets	374	424	1,894	1,952	1,763	1,643	1,422	1,100	1,270	1,088	960	840	783
Gross Block	1,008	604	2,320	2,508	2,623	2,807	2,909	2,954	3,440	3,462	3,475	3,501	–
Accumulated Depreciation	635	180	426	555	860	1,163	1,487	1,855	2,170	2,374	2,515	2,661	–
CWIP	8	25	60	20	30	36	8	6	3	2	5	12	16
Investments	296	502	95	128	315	187	161	264	361	392	560	995	1,211
Other Assets	582	605	482	340	489	716	844	934	1,192	1,270	1,322	1,536	1,542
Total Assets	1,260	1,556	2,532	2,441	2,598	2,583	2,435	2,304	2,826	2,751	2,847	3,384	3,552

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	378	497	534	715	577	513	546	878	596	731	740	864
Cash from Investing Activity	-130	-217	-1,294	-261	-237	20	-251	-200	-188	-106	-192	-465
Cash from Financing Activity	-264	-221	511	-519	-331	-434	-399	-679	-398	-612	-546	-368
Net Cash Flow	-15	59	-249	-64	9	99	-105	-0	10	13	1	31

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	17	11	9	5	11	21	28	14	25	33	35	33
Inventory Days	76	58	68	81	86	89	102	116	123	102	102	97
Days Payable	64	62	89	72	86	94	108	120	111	88	91	103
Cash Conversion Cycle	30	7	-12	15	11	16	22	10	37	47	46	27
Working Capital Days	-2	-10	-56	-60	-26	12	12	2	8	42	42	37
ROCE %	51%	61%	29%	24%	23%	19%	17%	30%	31%	26%	31%	34%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	54.27%	54.27%	54.52%	54.84%	54.84%	54.84%	54.84%	54.84%	54.84%	54.84%	54.84%	54.84%	54.84%
FIIs	11.14%	11.01%	11.46%	11.90%	12.86%	13.46%	14.02%	14.38%	14.11%	12.11%	11.89%	10.93%	9.03%
DIIs	27.02%	26.92%	26.22%	25.21%	23.94%	22.06%	21.61%	21.51%	21.70%	23.68%	24.06%	25.00%	26.72%
Public	7.58%	7.81%	7.81%	8.05%	8.35%	9.63%	9.53%	9.27%	9.36%	9.38%	9.21%	9.22%	9.40%

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Emami to acquire complete stake in Axiom Ayurveda for up to ₹200 crore, enters beverage sector

2nd April 2026, 9:43 pm

Emami Limited Acquires Majority Stake in Axiom Ayurveda Private Limited

1st April 2026, 11:40 pm

Emami Limited Announces IEPF Share Transfer and Re-opens Window for Physical Share Transfers

1st April 2026, 3:17 am

Emami Limited to acquire full stake in Axiom Ayurveda for up to ₹200 Crores

31st March 2026, 11:43 pm

Diwakar Finvest & Suraj Finvest Release Encumbered Emami Ltd Shares

27th March 2026, 11:01 pm

Published by Other Websites

External media mentions & references

Emami Acquires Axiom, Targets ₹500 Crore Beverage Sales in 3 Years

2nd April 2026, 10:10 pm

Emami Seals ₹200 Cr Deal for Full AloFrut Maker Control

2nd April 2026, 6:34 pm

Emami Buys Alofrut Maker Axiom Ayurveda for ₹200 Cr, Enters F&B

2nd April 2026, 6:21 pm

Emami Acquires Axiom Ayurveda for ₹200 Crore, Eyes Wellness Beverage Boom

2nd April 2026, 5:01 pm

FMCG Giants Eye 3-4% Price Hike in Q1 FY27 on Soaring Input Costs

2nd April 2026, 2:37 pm

News Articles

Editorial & research coverage

FMCG Stocks Tumble 6% on Slowing Demand, ITC Leads Slide

12th February 2026, 12:01 pm

Uno Minda Reports 19% Revenue Growth, Declares Dividend, Eyes Major Expansion

5th February 2026, 12:40 pm

Indian Earnings Mixed Amid Global Tech Jitters; NSDL Lock-in Expiry Looms

5th February 2026, 7:44 am

Emami Bets Big on Quick Commerce for FMCG Growth

4th February 2026, 4:58 pm

Emami Surges 7% Post-Q3 Earnings Beat, Dividend Declared

4th February 2026, 3:04 pm

Documents

Announcements

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

7 Jan - Post declaration of Q3 FY26 Financial Results, the Company will hold a Conference Call with Analysts / Investors on Wednesday, 4th February, 2026 at 4:00 …

Corporate Action-Board to consider Dividend

Board Meeting Intimation for Inter Alia, Consideration & Approval Of: - The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended 31St December, 2025; - The Declaration Of 2Nd Interim Dividend, If Any, For The Financial Year 2025-26.

7 Jan - Board meeting on 4 Feb 2026 to approve Q3 (Dec 31, 2025) results and consider 2nd interim dividend.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

5 Jan - Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018, for the quarter ended 31st December, 2025.

Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.

31 Dec - Diwakar Finvest pledged 7,50,000 shares on 26-Dec-2025; total encumbered 2,18,98,014 (5.02%) of Emami.