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Last Updated: April 2, 2026, 4:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 538882 | NSE: EMERALD

Emerald Finance Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹41.34Overvalued by 25.11%vs CMP ₹55.20

P/E (14.2) × ROE (13.8%) × BV (₹26.30) × DY (0.27%)

₹46.54Overvalued by 15.69%vs CMP ₹55.20
MoS: -18.6% (Negative)Confidence: 50/100 (Moderate)Models: 1 Under, 1 Fair, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹56.0427%Fair (+1.5%)
Graham NumberEarnings₹47.9820%Over (-13.1%)
Earnings PowerEarnings₹11.2413%Over (-79.6%)
DCFCash Flow₹92.1813%Under (+67%)
Net Asset ValueAssets₹26.309%Over (-52.4%)
Earnings YieldEarnings₹38.909%Over (-29.5%)
ROCE CapitalReturns₹25.939%Over (-53%)
Consensus (7 models)₹46.54100%Overvalued
Key Drivers: EPS CAGR 35.6% lifts DCF — verify sustainability. | Wide model spread (₹11–₹92) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 35.6%

*Investments are subject to market risks

Investment Snapshot

66
Emerald Finance Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 18.4% GoodROE 13.8% GoodD/E 0.16 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money30/100 · Weak
FII holding down -7.62% (6mo) SellingPromoter holding at 59.5% Stable
Earnings Quality60/100 · Moderate
Working capital: 44 days (improving) Efficient
Quarterly Momentum70/100 · Strong
Profit (4Q): +82% YoY Strong
Industry Rank75/100 · Strong
P/E 14.2 vs industry 101.6 Cheaper than peersROCE 18.4% vs industry 15.8% AverageROE 13.8% vs industry 8.8% Above peers

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 2, 2026, 4:33 am

Market Cap 191 Cr.
Current Price 55.2
Intrinsic Value₹46.54
High / Low 112/45.5
Stock P/E14.2
Book Value 26.3
Dividend Yield0.27 %
ROCE18.4 %
ROE13.8 %
Face Value 10.0
PEG Ratio0.40

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

View Share Price Target for Emerald Finance Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Emerald Finance Ltd 191 Cr. 55.2 112/45.514.2 26.30.27 %18.4 %13.8 % 10.0
Dhruva Capital Services Ltd 186 Cr. 258 258/111 40.60.00 %12.5 %10.9 % 10.0
Capital Trade Links Ltd 197 Cr. 15.3 32.2/14.327.7 5.790.00 %7.42 %3.63 % 1.00
Credent Global Finance Ltd 180 Cr. 29.3 35.1/20.76.37 16.40.00 %4.04 %9.21 % 2.00
Abate As Industries Ltd 175 Cr. 11.1 26.2/9.6293.3 10.40.00 %0.65 %0.66 % 10.0
Industry Average22,241.21 Cr369.74101.56513.160.26%15.81%8.84%8.50

All Competitor Stocks of Emerald Finance Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Revenue3.053.872.783.243.423.894.395.005.726.456.716.907.80
Interest 0.230.230.220.260.440.500.660.760.770.710.680.610.69
Expenses 1.321.831.411.731.401.831.451.501.661.951.801.481.77
Financing Profit1.501.811.151.251.581.562.282.743.293.794.234.815.34
Financing Margin %49.18%46.77%41.37%38.58%46.20%40.10%51.94%54.80%57.52%58.76%63.04%69.71%68.46%
Other Income -0.00-0.07-0.000.020.010.020.010.010.020.040.03-0.00-0.00
Depreciation -0.000.03-0.00-0.00-0.000.06-0.00-0.00-0.000.08-0.00-0.00-0.00
Profit before tax 1.501.711.151.271.591.522.292.753.313.754.264.815.34
Tax % 25.33%26.32%25.22%25.20%25.79%25.00%25.33%25.09%25.08%29.33%25.12%25.16%25.09%
Net Profit 1.121.250.860.951.191.131.712.052.482.653.193.604.00
EPS in Rs 0.370.410.290.320.390.370.570.630.730.770.921.041.16
Gross NPA %
Net NPA %

Last Updated: March 3, 2026, 10:04 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 4:46 am

MetricMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Revenue1124785812132228
Interest 000000011133
Expenses 111456356667
Financing Profit00012223561218
Financing Margin %16%21%17%18%24%21%36%40%41%42%56%65%
Other Income 000000-00-0000
Depreciation 000000000000
Profit before tax 00012223561218
Tax % 29%31%29%26%28%21%26%26%25%26%25%
Net Profit 0001111234913
EPS in Rs 0.030.030.070.190.410.440.480.851.151.372.623.89
Dividend Payout % 0%0%0%0%0%18%6%12%9%7%6%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%0.00%0.00%100.00%50.00%33.33%125.00%
Change in YoY Net Profit Growth (%)0.00%0.00%0.00%100.00%-50.00%-16.67%91.67%

Emerald Finance Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 7 years from 2018-2019 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:38%
5 Years:22%
3 Years:37%
TTM:60%
Compounded Profit Growth
10 Years:58%
5 Years:47%
3 Years:53%
TTM:108%
Stock Price CAGR
10 Years:26%
5 Years:58%
3 Years:56%
1 Year:1%
Return on Equity
10 Years:10%
5 Years:11%
3 Years:11%
Last Year:14%

Last Updated: September 5, 2025, 3:21 pm

Balance Sheet

Last Updated: March 3, 2026, 2:54 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 33339992930303535
Reserves 0012567913175056
Borrowing-0-0-0113355151615
Other Liabilities 001112433368
Total Liabilities 3357162023465265106114
Fixed Assets -000000000111
CWIP -0-0-0-0-0-0-0-0-0-00-0
Investments 0-0-0-0-0-0-000000
Other Assets 3357162023455164105113
Total Assets 3357162023465265106114

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 00-00-5-43-232-11-13
Cash from Investing Activity + 00-1-0-0-0-0-0-0-0-0
Cash from Financing Activity + 002181-0213828
Net Cash Flow 00013-32-25-415
Free Cash Flow 00-10-5-43-231-12-14
CFO/OP 0%0%-166%9%-276%-178%107%-586%27%-159%-88%

Free Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow1.001.001.003.004.003.000.000.001.00-9.00-10.00

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 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 781526810368432930224536
Inventory Days
Days Payable
Cash Conversion Cycle 781526810368432930224536
Working Capital Days 1,0541,5178233765827541,013202-410444
ROCE %5%7%16%17%13%13%13%12%13%18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 67.80%67.80%67.80%67.80%67.80%67.80%62.35%60.51%59.50%59.50%59.50%59.50%
FIIs 0.71%0.71%0.71%1.31%1.31%1.31%9.16%9.78%9.36%5.96%1.74%1.74%
Public 31.50%31.49%31.50%30.90%30.90%30.89%28.49%29.72%31.14%34.55%38.76%38.76%
No. of Shareholders 2,9763,2893,4934,2094,3324,3316,4148,3719,88310,28710,98911,229

Shareholding Pattern Chart

No. of Shareholders

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

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.571.371.150.851.54
Diluted EPS (Rs.) 2.571.371.150.851.54
Cash EPS (Rs.) 2.601.391.150.861.58
Book Value[Excl.RevalReserv]/Share (Rs.) 24.4715.5514.6913.2318.05
Book Value[Incl.RevalReserv]/Share (Rs.) 24.4715.5514.6913.2318.05
Revenue From Operations / Share (Rs.) 6.254.423.822.916.01
PBDIT / Share (Rs.) 4.362.341.861.352.56
PBIT / Share (Rs.) 4.342.321.851.342.52
PBT / Share (Rs.) 3.501.851.541.152.09
Net Profit / Share (Rs.) 2.571.371.150.851.54
NP After MI And SOA / Share (Rs.) 2.571.371.150.851.54
PBDIT Margin (%) 69.8353.0148.6646.4242.55
PBIT Margin (%) 69.4752.5448.4245.9841.93
PBT Margin (%) 56.0441.8740.3739.5534.77
Net Profit Margin (%) 41.2031.0529.9929.2425.62
NP After MI And SOA Margin (%) 41.2031.0529.9929.2425.62
Return on Networth / Equity (%) 10.518.827.946.538.75
Return on Capital Employeed (%) 16.7310.7911.648.9811.83
Return On Assets (%) 8.406.376.535.396.15
Long Term Debt / Equity (X) 0.000.300.040.120.16
Total Debt / Equity (X) 0.180.300.140.120.16
Asset Turnover Ratio (%) 0.250.220.120.130.14
Current Ratio (X) 6.510.0010.4117.766.68
Quick Ratio (X) 6.510.0010.4117.766.68
Dividend Payout Ratio (NP) (%) 5.967.288.4111.7320.19
Dividend Payout Ratio (CP) (%) 5.917.178.3411.5519.70
Earning Retention Ratio (%) 94.0492.7291.5988.2779.81
Cash Earning Retention Ratio (%) 94.0992.8391.6688.4580.30
Interest Coverage Ratio (X) 5.204.976.687.675.95
Interest Coverage Ratio (Post Tax) (X) 4.123.915.235.904.58
Enterprise Value (Cr.) 350.30123.0271.4551.229.76
EV / Net Operating Revenue (X) 16.249.236.216.051.79
EV / EBITDA (X) 23.2517.4112.7513.044.21
MarketCap / Net Operating Revenue (X) 16.268.296.165.652.07
Retention Ratios (%) 94.0392.7191.5888.2679.80
Price / BV (X) 4.152.361.631.260.70
Price / Net Operating Revenue (X) 16.268.296.165.652.07
EarningsYield 0.020.030.040.050.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Emerald Finance Ltd. is a Public Limited Listed company incorporated on 22/11/1983 and has its registered office in the State of Chandigarh, India. Company's Corporate Identification Number(CIN) is L65993CH1983PLC041774 and registration number is 016993. Currently Company is involved in the business activities of Activities of other commission agents (including commission agents working in emerging areas for wholesale trade. Company's Total Operating Revenue is Rs. 13.42 Cr. and Equity Capital is Rs. 34.54 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Non-Banking Financial Company (NBFC)SCO 7, First Floor, Chandigarh Chandigarh 160002Contact not found
Management
NamePosition Held
Mr. Sanjay AggarwalManaging Director
Mrs. Anubha AggarwalNon Executive Director
Mr. Manjeet KaushikIndependent Director
Mr. Akshay Kumar AgarwalIndependent Director

FAQ

What is the intrinsic value of Emerald Finance Ltd and is it undervalued?

As of 04 April 2026, Emerald Finance Ltd's intrinsic value is ₹46.54, which is 15.69% lower than the current market price of ₹55.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (13.8 %), book value (₹26.3), dividend yield (0.27 %), and 5-year EPS CAGR.

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

Emerald Finance Ltd is trading at ₹55.20 as of 04 April 2026, with a FY2026-2027 high of ₹112 and low of ₹45.5. The stock is currently near its 52-week low. Market cap stands at ₹191 Cr..

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

Emerald Finance Ltd has a P/E ratio of 14.2, which is below the industry average of 101.56. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Emerald Finance Ltd financially healthy?

Key indicators for Emerald Finance Ltd: ROCE of 18.4 % indicates efficient capital utilization. Dividend yield is 0.27 %.

Is Emerald Finance Ltd profitable and how is the profit trend?

Emerald Finance Ltd reported a net profit of ₹9 Cr in Mar 2025 on revenue of ₹22 Cr. Compared to ₹2 Cr in Mar 2022, the net profit shows an improving trend.

Does Emerald Finance Ltd pay dividends?

Emerald Finance Ltd has a dividend yield of 0.27 % at the current price of ₹55.20. The company pays dividends, though the yield is modest.

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 Emerald Finance 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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