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Emami Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹414.08Fairly Valued by 9.98%vs CMP ₹460.00

P/E (25.0) × ROE (30.2%) × BV (₹67.10) × DY (2.17%)

₹226.81Overvalued by 50.69%vs CMP ₹460.00
MoS: -102.8% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹410.4522%Over (-10.8%)
Graham NumberEarnings₹165.7616%Over (-64%)
Earnings PowerEarnings₹135.9513%Over (-70.4%)
DCFCash Flow₹194.3213%Over (-57.8%)
Net Asset ValueAssets₹67.127%Over (-85.4%)
EV/EBITDAEnterprise₹325.939%Over (-29.1%)
Earnings YieldEarnings₹182.007%Over (-60.4%)
ROCE CapitalReturns₹184.669%Over (-59.9%)
Revenue MultipleRevenue₹130.855%Over (-71.6%)
Consensus (9 models)₹226.81100%Overvalued
Key Drivers: Wide model spread (₹67–₹410) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -0.9%

*Investments are subject to market risks

Analyst Summary

Emami Ltd operates in the Personal Care segment, NSE: EMAMILTD | BSE: 531162, current market price is ₹460.00, market cap is 20,086 Cr.. At a glance, stock P/E is 25.0, ROE is 30.2 %, ROCE is 32.4 %, book value is 67.1, dividend yield is 2.17 %. The latest intrinsic value estimate is ₹226.81, around 50.7% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹3,809 Cr versus the prior period change of 6.5%, while latest net profit is about ₹803 Cr with a prior-period change of 10.9%. The 52-week range shown on this page is 655/385, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisEmami Ltd. is a Public Limited Listed company incorporated on 11/03/1983 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L63993WB198…

This summary is generated from the stock page data available for Emami Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

69
Emami Ltd scores 69/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 32.4% ExcellentROE 30.2% ExcellentD/E 0.05 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -3.08% (6mo) SellingDII holding up 3.04% MF buyingPromoter holding at 54.8% Stable
Earnings Quality60/100 · Moderate
OPM stable around 27% SteadyWorking capital: 25 days (improving) Efficient
Quarterly Momentum58/100 · Moderate
Revenue (4Q): 2% YoY FlatProfit (4Q): +1% YoY Positive
Industry Rank70/100 · Strong
P/E 25.0 vs industry 54.4 Cheaper than peersROCE 32.4% vs industry 29.9% AverageROE 30.2% vs industry 24.6% Above peers3Y sales CAGR: 6% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 25, 2026, 10:36 pm

Market Cap 20,086 Cr.
Current Price 460
Intrinsic Value₹226.81
High / Low 655/385
Stock P/E25.0
Book Value 67.1
Dividend Yield2.17 %
ROCE32.4 %
ROE30.2 %
Face Value 1.00
PEG Ratio-28.49

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Emami Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Emami Ltd 20,086 Cr. 460 655/38525.0 67.12.17 %32.4 %30.2 % 1.00
Cupid Ltd 15,207 Cr. 113 116/14.3182 2.840.00 %17.1 %12.9 % 1.00
Gillette India Ltd 26,383 Cr. 8,096 11,505/7,20642.5 3571.48 %56.1 %41.6 % 10.0
Honasa Consumer Ltd 11,351 Cr. 349 360/22873.4 38.80.00 %7.44 %5.51 % 10.0
Jyothy Labs Ltd 9,511 Cr. 259 389/19626.0 55.81.35 %24.6 %19.0 % 1.00
Industry Average68,086.14 Cr1,717.4454.35112.520.90%29.93%24.55%4.94

All Competitor Stocks of Emami Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 9838368268659968919068911,0499639047991,152
Expenses 689636636632682682692645715744692622768
Operating Profit 294199190233314209214246334219212177384
OPM % 30%24%23%27%32%24%24%28%32%23%23%22%33%
Other Income 71481111111022152122219
Interest 2122332223233
Depreciation 47644646464844454644444545
Profit before tax 251148150196276169178220301194187150345
Tax % 7%4%9%8%6%13%16%4%7%16%12%1%7%
Net Profit 233142137180261147151211279162164148319
EPS in Rs 5.383.273.144.095.923.413.504.876.393.723.763.407.32

Last Updated: February 6, 2026, 2:46 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 12:16 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,7002,0762,3582,4882,5312,6952,6552,8813,1923,4063,5783,8093,817
Expenses 1,2551,5361,6701,7291,8121,9701,9702,0002,2542,5502,6322,7962,826
Operating Profit 4455416887597197256858809388559461,014992
OPM % 26%26%29%31%28%27%26%31%29%25%26%27%26%
Other Income 53914431192546699069416873
Interest 555458342121135710911
Depreciation 3534255309311325336367335247186178179
Profit before tax 457592423424393403374569688670791894876
Tax % 12%18%14%20%22%25%19%20%-22%6%8%10%
Net Profit 402485363340306303302455837627724803794
EPS in Rs 8.8710.708.007.506.776.686.6710.2319.0214.5016.5818.4818.20
Dividend Payout % 39%33%44%47%52%60%60%78%42%55%48%54%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)20.65%-25.15%-6.34%-10.00%-0.98%-0.33%50.66%83.96%-25.09%15.47%10.91%
Change in YoY Net Profit Growth (%)0.00%-45.80%18.82%-3.66%9.02%0.65%50.99%33.29%-109.05%40.56%-4.56%

Emami Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:7%
3 Years:6%
TTM:4%
Compounded Profit Growth
10 Years:3%
5 Years:21%
3 Years:-1%
TTM:10%
Stock Price CAGR
10 Years:0%
5 Years:11%
3 Years:8%
1 Year:-26%
Return on Equity
10 Years:26%
5 Years:31%
3 Years:30%
Last Year:30%

Last Updated: September 5, 2025, 3:30 am

Balance Sheet

Last Updated: December 4, 2025, 1:12 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 23232323234545444444444444
Reserves 9091,2081,5891,7321,9912,0311,7781,7182,0322,2592,4032,6512,887
Borrowings 383667147332611021010128291949072
Other Liabilities 333410409376458633644656692703728741668
Total Liabilities 1,3021,6762,6922,6032,7982,8192,6782,5203,0503,0963,2693,5253,671
Fixed Assets 3964531,9181,9941,8021,6801,4591,1321,3441,2451,114984917
CWIP 122967223036863681518
Investments 296501104128314187156255303293442676858
Other Assets 5996936044606529151,0551,1261,4001,5511,7061,8501,878
Total Assets 1,3021,6762,6922,6032,7982,8192,6782,5203,0503,0963,2693,5253,671

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 428534562730588554531922644749779896
Cash from Investing Activity + -140-237-1,313-306-276-26-231-224-234-122-210-345
Cash from Financing Activity + -301-215502-496-324-428-405-688-402-608-563-500
Net Cash Flow -1382-249-72-12100-1069819652
Free Cash Flow 364426430448465421383890164719750852
CFO/OP 113%116%96%105%93%89%89%115%84%101%98%107%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow407.00505.0017.00286.00393.00615.00475.00779.00656.00764.00852.00-89.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 171820142229422937445043
Inventory Days 76596883878810211812110010294
Days Payable 779011285109115135138138124143133
Cash Conversion Cycle 16-13-241212910192094
Working Capital Days -7-16-54-62-32-67-30283025
ROCE %50%61%30%23%22%19%18%29%31%28%32%32%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 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 11.01%11.46%11.90%12.86%13.46%14.02%14.38%14.11%12.11%11.89%10.93%9.03%
DIIs 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 7.81%7.81%8.05%8.35%9.63%9.53%9.27%9.36%9.38%9.21%9.22%9.40%
No. of Shareholders 97,04389,95579,21682,15191,33497,2581,27,8971,28,7251,29,0021,26,5991,26,7761,29,077

Shareholding Pattern Chart

No. of Shareholders

Emami Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund 15,948,302 1.17 771.5815,798,3022026-02-22 11:00:450.95%
HDFC Mid Cap Fund 7,419,485 0.39 358.95N/AN/AN/A
Nippon India Multi Cap Fund 7,381,377 0.73 357.116,521,4812026-02-21 15:43:0813.19%
SBI Large & Midcap Fund 6,500,000 0.84 314.476,500,0002025-04-22 15:56:580%
DSP Aggressive Hybrid Fund 4,679,374 1.91 226.39N/AN/AN/A
DSP ELSS Tax Saver Fund 4,345,045 1.22 210.214,224,3692025-12-07 16:58:212.86%
DSP Mid Cap Fund 4,058,472 1.03 196.355,265,7422025-12-07 16:58:21-22.93%
Aditya Birla Sun Life Large Cap Fund 3,979,053 0.63 192.513,753,6962025-12-15 01:38:086%
Franklin India Small Cap Fund 3,876,597 1.47 187.55N/AN/AN/A
DSP Large & Mid Cap Fund 3,434,700 0.95 166.173,406,3652025-12-15 01:38:080.83%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 18.4816.5514.5018.8810.23
Diluted EPS (Rs.) 18.4816.5514.5018.8810.23
Cash EPS (Rs.) 22.7420.9320.0026.8818.58
Book Value[Excl.RevalReserv]/Share (Rs.) 61.7456.3052.4347.0239.63
Book Value[Incl.RevalReserv]/Share (Rs.) 61.7456.3052.4347.0239.63
Revenue From Operations / Share (Rs.) 87.2781.9777.2072.3664.80
PBDIT / Share (Rs.) 25.0522.8321.1223.7521.45
PBIT / Share (Rs.) 20.9618.5715.5116.1613.19
PBT / Share (Rs.) 20.7518.2015.3515.9312.89
Net Profit / Share (Rs.) 18.6616.6714.3919.3010.32
NP After MI And SOA / Share (Rs.) 18.4816.5814.5019.0210.23
PBDIT Margin (%) 28.6927.8427.3532.8133.09
PBIT Margin (%) 24.0222.6420.0922.3320.35
PBT Margin (%) 23.7722.2019.8722.0119.89
Net Profit Margin (%) 21.3820.3418.6426.6615.93
NP After MI And SOA Margin (%) 21.1720.2218.7726.2815.78
Return on Networth / Equity (%) 29.9229.5727.7740.4025.79
Return on Capital Employeed (%) 33.2232.1428.6833.2832.22
Return On Assets (%) 22.8222.0620.5627.4418.04
Total Debt / Equity (X) 0.020.020.030.120.05
Asset Turnover Ratio (%) 1.121.121.001.071.04
Current Ratio (X) 2.221.871.781.171.61
Quick Ratio (X) 1.831.441.320.781.18
Inventory Turnover Ratio (X) 12.062.362.432.722.65
Dividend Payout Ratio (NP) (%) 43.2948.2655.1842.3878.20
Dividend Payout Ratio (CP) (%) 35.4638.3939.7930.2943.27
Earning Retention Ratio (%) 56.7151.7444.8257.6221.80
Cash Earning Retention Ratio (%) 64.5461.6160.2169.7156.73
Interest Coverage Ratio (X) 117.0999.86126.05206.5171.83
Interest Coverage Ratio (Post Tax) (X) 88.2474.5486.90169.8335.58
Enterprise Value (Cr.) 18251.7018339.380.0019900.1021407.37
EV / Net Operating Revenue (X) 4.795.130.006.237.43
EV / EBITDA (X) 16.7018.410.0019.0022.46
MarketCap / Net Operating Revenue (X) 4.855.160.006.197.53
Retention Ratios (%) 56.7051.7344.8157.6121.79
Price / BV (X) 6.857.550.009.5112.30
Price / Net Operating Revenue (X) 4.855.160.006.197.53
EarningsYield 0.040.030.000.040.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Emami Ltd. is a Public Limited Listed company incorporated on 11/03/1983 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L63993WB1983PLC036030 and registration number is 036030. Currently Company is involved in the business activities of Manufacture of `ayurvedic' or `unani' pharmaceutical preparation. Company's Total Operating Revenue is Rs. 3123.55 Cr. and Equity Capital is Rs. 43.65 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Personal CareEmami Tower, 687, Anandapur, Kolkata West Bengal 700107Contact not found
Management
NamePosition Held
Mr. R S AgarwalChairman Emeritus
Mr. R S GoenkaNon Executive Chairman
Mr. Harsha V AgarwalVice Chairman & Mng.Director
Mr. Mohan GoenkaVice Chairman & Whole Time Dir
Mr. Sushil K GoenkaWhole Time Director
Mrs. Priti A SurekaWhole Time Director
Mr. Prashant GoenkaWhole Time Director
Mr. Aditya V AgarwalNon Executive Director
Mr. C K DhanukaIndependent Director
Ms. Mamta BinaniIndependent Director
Mr. Rajiv KhaitanIndependent Director
Ms. Avani V DavdaIndependent Director
Mr. Anjanmoy ChatterjeeIndependent Director
Mr. Anjani Kumar AgrawalIndependent Director
Mr. Debabrata SarkarIndependent Director
Mr. Anand RathiIndependent Director

FAQ

What is the intrinsic value of Emami Ltd and is it undervalued?

As of 29 April 2026, Emami Ltd's intrinsic value is ₹226.81, which is 50.69% lower than the current market price of ₹460.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (30.2 %), book value (₹67.1), dividend yield (2.17 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Emami Ltd?

Emami Ltd is trading at ₹460.00 as of 29 April 2026, with a FY2026-2027 high of ₹655 and low of ₹385. The stock is currently in the middle of its 52-week range. Market cap stands at ₹20,086 Cr..

How does Emami Ltd's P/E ratio compare to its industry?

Emami Ltd has a P/E ratio of 25.0, which is below the industry average of 54.35. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Emami Ltd financially healthy?

Key indicators for Emami Ltd: ROCE of 32.4 % indicates efficient capital utilization; ROE of 30.2 % shows strong shareholder returns. Dividend yield is 2.17 %.

Is Emami Ltd profitable and how is the profit trend?

Emami Ltd reported a net profit of ₹803 Cr in Mar 2025 on revenue of ₹3,809 Cr. Compared to ₹837 Cr in Mar 2022, the net profit shows a declining trend.

Does Emami Ltd pay dividends?

Emami Ltd has a dividend yield of 2.17 % at the current price of ₹460.00. This is a relatively attractive yield for income-seeking investors.

Last Updated: April 25, 2026, 10:36 pm
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 531162 | NSE: EMAMILTD
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Emami Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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