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Last Updated: April 2, 2026, 2:52 am
Author: Getaka|Social: XLinkedIn

Emkay Global Financial Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹556.96Undervalued by 184.16%vs CMP ₹196.00

P/E (28.5) × ROE (20.9%) × BV (₹116.00) × DY (0.76%)

₹206.52Fairly Valued by 5.37%vs CMP ₹196.00
MoS: +5.1% (Thin)Confidence: 58/100 (Moderate)Models: 2 Under, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹487.8023%Under (+148.9%)
Graham NumberEarnings₹135.8416%Over (-30.7%)
Earnings PowerEarnings₹74.5111%Over (-62%)
DCFCash Flow₹36.8014%Over (-81.2%)
Net Asset ValueAssets₹115.167%Over (-41.2%)
EV/EBITDAEnterprise₹316.129%Under (+61.3%)
Earnings YieldEarnings₹70.707%Over (-63.9%)
ROCE CapitalReturns₹144.957%Over (-26%)
Revenue MultipleRevenue₹137.285%Over (-30%)
Consensus (9 models)₹206.52100%Fairly Valued
Key Drivers: Wide model spread (₹37–₹488) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -12.4%

*Investments are subject to market risks

Investment Snapshot

64
Emkay Global Financial Services Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 20.4% ExcellentROE 20.9% ExcellentD/E 0.07 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 71.9% Stable
Earnings Quality65/100 · Strong
OPM expanding (14% → 20%) Improving
Quarterly Momentum25/100 · Weak
Revenue (4Q): -16% YoY DecliningProfit (4Q): -69% YoY Declining
Industry Rank75/100 · Strong
P/E 28.5 vs industry 98.5 Cheaper than peersROCE 20.4% vs industry 21.7% AverageROE 20.9% vs industry 14.2% Above peers3Y sales CAGR: 10% Moderate

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, 2:52 am

Market Cap 514 Cr.
Current Price 196
Intrinsic Value₹206.52
High / Low 410/173
Stock P/E28.5
Book Value 116
Dividend Yield0.76 %
ROCE20.4 %
ROE20.9 %
Face Value 10.0
PEG Ratio-2.29

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

View Share Price Target for Emkay Global Financial Services Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Emkay Global Financial Services Ltd 514 Cr. 196 410/17328.5 1160.76 %20.4 %20.9 % 10.0
PTL Enterprises Ltd 497 Cr. 37.6 47.8/35.311.9 67.64.66 %7.29 %4.29 % 1.00
The Investment Trust of India Ltd (THEINVEST) 492 Cr. 94.2 184/84.217.0 1390.00 %9.44 %6.22 % 10.0
Welspun Investments & Commercials Ltd 462 Cr. 1,265 1,598/666146 2,0030.00 %0.83 %0.62 % 10.0
Consolidated Finvest & Holdings Ltd 665 Cr. 206 246/15210.5 3210.55 %7.72 %11.8 % 10.0
Industry Average6,725.79 Cr1,029.6498.514,364.490.43%21.71%14.20%7.23

All Competitor Stocks of Emkay Global Financial Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 54.3242.1546.6570.5475.2090.9882.69108.0277.3071.0472.9772.0987.08
Expenses 47.9153.9952.2162.9864.7078.1067.6178.9367.8770.9367.1470.6878.82
Operating Profit 6.41-11.84-5.567.5610.5012.8815.0829.099.430.115.831.418.26
OPM % 11.80%-28.09%-11.92%10.72%13.96%14.16%18.24%26.93%12.20%0.15%7.99%1.96%9.49%
Other Income 1.948.309.137.528.198.446.436.786.585.814.784.994.74
Interest 1.251.340.831.121.291.661.781.651.841.682.442.803.43
Depreciation 2.442.441.982.082.683.062.622.792.943.292.913.283.55
Profit before tax 4.66-7.320.7611.8814.7216.6017.1131.4311.230.955.260.326.02
Tax % -84.55%-27.46%119.74%18.94%16.51%37.35%18.47%17.88%22.26%-786.32%8.75%6.25%28.07%
Net Profit 8.74-5.370.349.2712.2610.5613.8725.918.578.494.780.464.30
EPS in Rs 3.55-2.180.143.764.974.285.6110.433.433.351.880.181.66

Last Updated: February 6, 2026, 2:16 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 82117105109156147135160272205316360303
Expenses 76828285111124137134217190261282288
Operating Profit 63424244523-3265515557916
OPM % 8%29%22%22%29%15%-2%16%20%7%17%22%5%
Other Income 1-360003021114120
Interest 55434773345710
Depreciation 4444578889101213
Profit before tax -3-1117163712-17174612446113
Tax % 40%49%28%26%22%31%-29%32%24%-12%27%6%
Net Profit -4-161212299-13113414325718
EPS in Rs -1.62-6.444.924.9911.663.55-5.114.5213.725.7113.1422.407.07
Dividend Payout % 0%0%20%20%17%28%0%22%9%18%11%18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-300.00%175.00%0.00%141.67%-68.97%-244.44%184.62%209.09%-58.82%128.57%78.12%
Change in YoY Net Profit Growth (%)0.00%475.00%-175.00%141.67%-210.63%-175.48%429.06%24.48%-267.91%187.39%-50.45%

Emkay Global Financial Services 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:12%
5 Years:22%
3 Years:10%
TTM:3%
Compounded Profit Growth
10 Years:14%
5 Years:46%
3 Years:19%
TTM:4%
Stock Price CAGR
10 Years:15%
5 Years:31%
3 Years:36%
1 Year:19%
Return on Equity
10 Years:11%
5 Years:14%
3 Years:14%
Last Year:21%

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 24242424252525252525252526
Reserves 1058998111137142128142176186216278276
Borrowings 34351149342310174433526881
Other Liabilities 110112921161691362183815194887728621,159
Total Liabilities 2742612262993653263815657647311,0651,2331,542
Fixed Assets 39363535333538343238434143
CWIP 0000000020000
Investments 341126362816293424263240
Other Assets 2322211802372962633275016966699961,1601,459
Total Assets 2742612262993653263815657647311,0651,2331,542

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 18-461-22302194-4460-6324-2
Cash from Investing Activity + -23-8-15-84-1-3-45-8-10
Cash from Financing Activity + -11-2-3035-20-27-26-3-7-7211
Net Cash Flow 5-324-32-166-5148-6518-1
Free Cash Flow 17-559-28281890-4755-7115-9
CFO/OP 307%-3%265%-86%83%101%-3,675%-154%122%-376%54%8%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-28.00-1.0013.00-25.0011.000.00-13.009.0011.00-18.003.0011.00

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 1731696621820814614515211917914595
Inventory Days
Days Payable
Cash Conversion Cycle 1731696621820814614515211917914595
Working Capital Days -6-59-161-172-150-134-353-564-372-380-463-271
ROCE %2%19%14%12%22%9%-6%12%23%7%17%20%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.49%74.49%74.49%74.49%74.34%74.27%73.89%73.36%72.36%72.03%71.68%71.91%
FIIs 0.76%0.76%0.77%0.76%1.17%0.76%0.77%0.83%0.82%0.85%0.88%0.80%
DIIs 0.00%0.00%0.00%0.00%0.07%0.00%0.00%0.10%0.10%0.01%0.03%0.05%
Public 24.75%24.74%24.74%24.74%24.41%24.97%25.34%25.71%26.74%27.11%27.41%27.24%
No. of Shareholders 14,92214,75313,59312,96111,76612,35411,46912,13211,90011,43612,34911,470

Shareholding Pattern Chart

No. of Shareholders

Emkay Global Financial Services 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.) 22.8013.165.7113.724.52
Diluted EPS (Rs.) 21.9512.745.6812.974.52
Cash EPS (Rs.) 27.0217.009.3917.227.90
Book Value[Excl.RevalReserv]/Share (Rs.) 119.5197.5485.3881.4267.59
Book Value[Incl.RevalReserv]/Share (Rs.) 119.5197.5485.3881.4267.59
Revenue From Operations / Share (Rs.) 132.52114.3982.39110.0766.00
PBDIT / Share (Rs.) 31.2723.1310.5523.0712.30
PBIT / Share (Rs.) 26.6819.166.8320.009.20
PBT / Share (Rs.) 23.9417.185.0918.727.05
Net Profit / Share (Rs.) 22.4413.035.6614.154.80
NP After MI And SOA / Share (Rs.) 22.4013.145.7113.724.52
PBDIT Margin (%) 23.5920.2212.8120.9618.63
PBIT Margin (%) 20.1316.758.2818.1613.94
PBT Margin (%) 18.0615.016.1717.0010.68
Net Profit Margin (%) 16.9311.396.8712.857.28
NP After MI And SOA Margin (%) 16.9011.486.9312.466.85
Return on Networth / Equity (%) 18.7413.466.6916.846.69
Return on Capital Employeed (%) 16.6715.986.8218.2011.91
Return On Assets (%) 4.603.041.924.421.97
Long Term Debt / Equity (X) 0.000.000.000.140.01
Total Debt / Equity (X) 0.190.170.120.190.07
Asset Turnover Ratio (%) 0.290.310.260.270.31
Current Ratio (X) 1.411.311.381.461.38
Quick Ratio (X) 1.411.311.381.461.38
Dividend Payout Ratio (NP) (%) 6.547.5921.887.280.00
Dividend Payout Ratio (CP) (%) 5.435.8313.245.940.00
Earning Retention Ratio (%) 93.4692.4178.1292.720.00
Cash Earning Retention Ratio (%) 94.5794.1786.7694.060.00
Interest Coverage Ratio (X) 11.4011.646.0818.015.73
Interest Coverage Ratio (Post Tax) (X) 9.187.244.2712.063.24
Enterprise Value (Cr.) 58.78-251.00-164.08-116.33-163.84
EV / Net Operating Revenue (X) 0.17-0.88-0.80-0.42-1.01
EV / EBITDA (X) 0.74-4.39-6.31-2.05-5.41
MarketCap / Net Operating Revenue (X) 1.601.020.780.940.98
Retention Ratios (%) 93.4592.4078.1192.710.00
Price / BV (X) 1.781.200.751.280.96
Price / Net Operating Revenue (X) 1.601.020.780.940.98
EarningsYield 0.100.110.080.130.06

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Emkay Global Financial Services Ltd. is a Public Limited Listed company incorporated on 24/01/1995 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L67120MH1995PLC084899 and registration number is 084899. Currently Company is involved in the business activities of Security and commodity contracts brokerage. Company's Total Operating Revenue is Rs. 315.35 Cr. and Equity Capital is Rs. 25.37 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Finance & InvestmentsThe Ruby, 7th Floor, Mumbai Maharashtra 400028Contact not found
Management
NamePosition Held
Mr. S K SabooChairman
Mr. Krishna Kumar KarwaManaging Director
Mr. Prakash KacholiaManaging Director
Mr. Raunak KarwaNon Executive Director
Dr. Bharat Kumar SinghIndependent Director
Dr. Satish UgrankarIndependent Director
Mr. A DhananjayaIndependent Director
Mrs. Hutokshi WadiaIndependent Woman Director

FAQ

What is the intrinsic value of Emkay Global Financial Services Ltd and is it undervalued?

As of 18 April 2026, Emkay Global Financial Services Ltd's intrinsic value is ₹206.52, which is 5.37% higher than the current market price of ₹196.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (20.9 %), book value (₹116), dividend yield (0.76 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Emkay Global Financial Services Ltd?

Emkay Global Financial Services Ltd is trading at ₹196.00 as of 18 April 2026, with a FY2026-2027 high of ₹410 and low of ₹173. The stock is currently near its 52-week low. Market cap stands at ₹514 Cr..

How does Emkay Global Financial Services Ltd's P/E ratio compare to its industry?

Emkay Global Financial Services Ltd has a P/E ratio of 28.5, which is below the industry average of 98.51. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Emkay Global Financial Services Ltd financially healthy?

Key indicators for Emkay Global Financial Services Ltd: ROCE of 20.4 % indicates efficient capital utilization; ROE of 20.9 % shows strong shareholder returns. Dividend yield is 0.76 %.

Is Emkay Global Financial Services Ltd profitable and how is the profit trend?

Emkay Global Financial Services Ltd reported a net profit of ₹57 Cr in Mar 2025 on revenue of ₹360 Cr. Compared to ₹34 Cr in Mar 2022, the net profit shows an improving trend.

Does Emkay Global Financial Services Ltd pay dividends?

Emkay Global Financial Services Ltd has a dividend yield of 0.76 % at the current price of ₹196.00. 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 Emkay Global Financial Services 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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