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Last Updated: April 2, 2026, 4:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 509525 | NSE: EMPIND

Empire Industries Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹688.47Overvalued by 19.95%vs CMP ₹860.00

P/E (13.9) × ROE (11.1%) × BV (₹542.00) × DY (2.91%)

₹752.69Overvalued by 12.48%vs CMP ₹860.00
MoS: -14.3% (Negative)Confidence: 52/100 (Moderate)Models: 3 Under, 1 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹752.8021%Over (-12.5%)
Graham NumberEarnings₹867.5015%Fair (+0.9%)
Earnings PowerEarnings₹194.3510%Over (-77.4%)
DCFCash Flow₹694.7713%Over (-19.2%)
Net Asset ValueAssets₹541.677%Over (-37%)
EV/EBITDAEnterprise₹1,146.678%Under (+33.3%)
Dividend DiscountDividends₹1,029.298%Under (+19.7%)
Earnings YieldEarnings₹617.107%Over (-28.2%)
ROCE CapitalReturns₹666.857%Over (-22.5%)
Revenue MultipleRevenue₹1,128.335%Under (+31.2%)
Consensus (10 models)₹752.69100%Overvalued
Key Drivers: Wide model spread (₹194–₹1,147) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 9.3%

*Investments are subject to market risks

Investment Snapshot

58
Empire Industries Ltd scores 58/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health64/100 · Moderate
ROCE 14.4% GoodROE 11.1% AverageD/E 0.87 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
Promoter holding at 72.6% Stable
Earnings Quality60/100 · Moderate
OPM stable around 11% SteadyWorking capital: 19 days (improving) Efficient
Quarterly Momentum50/100 · Moderate
Revenue (4Q): +12% YoY GrowingProfit (4Q): -16% YoY Declining
Industry Rank60/100 · Moderate
P/E 13.9 vs industry 40.2 Cheaper than peersROCE 14.4% vs industry 14.1% Average3Y sales CAGR: 8% 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 2, 2026, 4:33 am

Market Cap 516 Cr.
Current Price 860
Intrinsic Value₹752.69
High / Low 1,275/811
Stock P/E13.9
Book Value 542
Dividend Yield2.91 %
ROCE14.4 %
ROE11.1 %
Face Value 10.0
PEG Ratio1.49

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

View Share Price Target for Empire Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Empire Industries Ltd 516 Cr. 860 1,275/81113.9 5422.91 %14.4 %11.1 % 10.0
La Opala RG Ltd 1,923 Cr. 173 287/16218.6 72.24.33 %15.4 %10.9 % 2.00
Borosil Ltd 2,891 Cr. 242 398/21436.8 71.20.00 %12.5 %9.32 % 1.00
Borosil Renewables Ltd 5,768 Cr. 411 721/37460.6 63.70.00 %4.41 %8.90 % 1.00
Asahi India Glass Ltd 20,973 Cr. 823 1,074/57966.9 1450.24 %12.4 %13.6 % 1.00
Industry Average6,414.20 Cr421.4040.20149.361.25%14.07%14.57%4.17

All Competitor Stocks of Empire Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 172178148154153152152163176186167180189
Expenses 156151132135146129135144158170151159171
Operating Profit 1627161972316191816152117
OPM % 9%15%11%12%5%15%11%12%10%9%9%12%9%
Other Income 64231553453355
Interest 71168585778586
Depreciation 4444444445444
Profit before tax 101681012151111126101412
Tax % 22%15%25%20%16%17%9%13%9%32%7%10%12%
Net Profit 8146810131010114101211
EPS in Rs 13.6722.6210.2013.4317.0321.0016.1516.3517.537.4016.0320.6517.63

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

Quarterly Chart

Profit & Loss - Annual Report

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

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 248352385405473526575490544682606677722
Expenses 251290324338411467500447485603542607652
Operating Profit -4636167625975435979647070
OPM % -2%18%16%17%13%11%13%9%11%12%11%10%10%
Other Income 70556273312231014251516
Interest 1191014162032352733272726
Depreciation 812109131115191517161717
Profit before tax 48464750606140132843464042
Tax % 24%26%34%32%22%28%15%-4%14%17%19%14%
Net Profit 36343134474434132436373437
EPS in Rs 60.4256.9051.0856.7877.7873.0756.9722.0239.4859.2061.6757.4261.71
Dividend Payout % 40%42%47%44%32%34%44%114%63%42%41%44%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-5.56%-8.82%9.68%38.24%-6.38%-22.73%-61.76%84.62%50.00%2.78%-8.11%
Change in YoY Net Profit Growth (%)0.00%-3.27%18.50%28.56%-44.62%-16.34%-39.04%146.38%-34.62%-47.22%-10.89%

Empire Industries 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:7%
5 Years:3%
3 Years:8%
TTM:13%
Compounded Profit Growth
10 Years:0%
5 Years:0%
3 Years:13%
TTM:-15%
Stock Price CAGR
10 Years:-2%
5 Years:15%
3 Years:17%
1 Year:-1%
Return on Equity
10 Years:13%
5 Years:10%
3 Years:12%
Last Year:11%

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

Balance Sheet

Last Updated: December 4, 2025, 2:49 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 6666666666666
Reserves 114131144177206231228241250277294308319
Borrowings 10094139130182225321259232183168150182
Other Liabilities 160188217231193214229207219274256286301
Total Liabilities 380419506544587677784713707740724751809
Fixed Assets 134135217215217213317303352317315304299
CWIP 70840057103727599003
Investments 0000000001291159
Other Assets 175199289329313361395335346412380435448
Total Assets 380419506544587677784713707740724751809

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 840344820-134010353797592
Cash from Investing Activity + -42-17-3-3-49-34-45-4-229-1517
Cash from Financing Activity + 22-2313-24175-5-82-45-89-52-59
Net Cash Flow -12-14421-12-41-1117619750
Free Cash Flow -39202849-34-50-996441036486
CFO/OP -224%87%77%96%54%2%66%242%103%80%132%133%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-104.00-31.00-78.00-63.00-120.00-166.00-246.00-216.00-173.00-104.00-104.00-80.00

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 8961746871807064831049776
Inventory Days 189236239318265241286254252161180137
Days Payable 81122125636250513441585155
Cash Conversion Cycle 197175188323274272305284294207226158
Working Capital Days -3043702065654056562319
ROCE %31%24%22%21%17%14%14%9%11%16%15%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 72.55%72.55%72.55%72.55%72.55%72.55%72.55%72.55%72.55%72.55%72.55%72.55%
DIIs 8.55%7.48%6.45%6.38%6.38%6.37%5.95%5.95%5.95%5.95%5.95%5.95%
Public 18.89%19.95%20.99%21.06%21.07%21.07%21.49%21.50%21.49%21.50%21.50%21.49%
No. of Shareholders 6,5146,6226,7196,8336,9087,0447,5177,2877,3097,2217,6037,703

Shareholding Pattern Chart

No. of Shareholders

Empire Industries 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.) 57.4261.6759.2139.4922.01
Diluted EPS (Rs.) 57.4261.6759.2139.4922.01
Cash EPS (Rs.) 86.1689.1287.8163.9253.76
Book Value[Excl.RevalReserv]/Share (Rs.) 523.43500.36472.35426.18411.74
Book Value[Incl.RevalReserv]/Share (Rs.) 523.43500.36472.35426.18411.74
Dividend / Share (Rs.) 25.0025.0025.0025.0025.00
Revenue From Operations / Share (Rs.) 1128.281010.031135.98906.73817.10
PBDIT / Share (Rs.) 140.87148.19155.15115.57110.98
PBIT / Share (Rs.) 112.13120.75126.5591.1479.24
PBT / Share (Rs.) 66.6876.1171.1746.0521.16
Net Profit / Share (Rs.) 57.4261.6759.2139.4922.01
PBDIT Margin (%) 12.4814.6713.6512.7413.58
PBIT Margin (%) 9.9311.9511.1310.059.69
PBT Margin (%) 5.907.536.265.072.58
Net Profit Margin (%) 5.086.105.214.352.69
Return on Networth / Equity (%) 10.9612.3212.539.265.34
Return on Capital Employeed (%) 12.7415.1914.5910.539.47
Return On Assets (%) 4.585.084.803.351.85
Long Term Debt / Equity (X) 0.210.190.360.530.54
Total Debt / Equity (X) 0.450.530.590.860.87
Asset Turnover Ratio (%) 0.910.820.940.760.65
Current Ratio (X) 1.751.471.811.721.48
Quick Ratio (X) 1.311.041.311.150.85
Inventory Turnover Ratio (X) 6.690.750.750.560.89
Dividend Payout Ratio (NP) (%) 43.5440.5311.010.0031.16
Dividend Payout Ratio (CP) (%) 29.0128.057.420.0012.76
Earning Retention Ratio (%) 56.4659.4788.990.0068.84
Cash Earning Retention Ratio (%) 70.9971.9592.580.0087.24
Interest Coverage Ratio (X) 3.103.322.802.561.91
Interest Coverage Ratio (Post Tax) (X) 2.262.382.071.881.38
Enterprise Value (Cr.) 639.10615.47462.53527.72545.95
EV / Net Operating Revenue (X) 0.941.020.670.971.11
EV / EBITDA (X) 7.566.924.977.618.20
MarketCap / Net Operating Revenue (X) 0.920.880.530.650.77
Retention Ratios (%) 56.4559.4688.980.0068.83
Price / BV (X) 2.001.781.291.401.53
Price / Net Operating Revenue (X) 0.920.880.530.650.77
EarningsYield 0.050.060.090.060.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Empire Industries Ltd. is a Public Limited Listed company incorporated on 17/10/1900 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L17120MH1900PLC000176 and registration number is 000176. Currently Company is involved in the business activities of Manufacture of hollow glassware (bottles, jars etc.) for the conveyance or packing of goods. Company's Total Operating Revenue is Rs. 676.97 Cr. and Equity Capital is Rs. 6.00 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Glass & Glass ProductsEmpire Complex, 414 Senapati Bapat Marg, Mumbai Maharashtra 400013Contact not found
Management
NamePosition Held
Mr. S C MalhotraChairman
Mr. Ranjit MalhotraVice Chairman & Mng.Director
Mr. Dileep MalhotraJoint Managing Director
Mr. Kabir MalhotraExecutive Director
Ms. Geetanjali NaiduIndependent Woman Director
Mr. Rajbir SinghIndependent Director
Dr. Anuja MoheIndependent Director
Mr. Subodh ChandraIndependent Director
Mr. Sujoy SenguptaIndependent Director
Mrs. Bhavna D PrabhuIndependent Woman Director

FAQ

What is the intrinsic value of Empire Industries Ltd and is it undervalued?

As of 19 April 2026, Empire Industries Ltd's intrinsic value is ₹752.69, which is 12.48% lower than the current market price of ₹860.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (11.1 %), book value (₹542), dividend yield (2.91 %), and 5-year EPS CAGR.

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

Empire Industries Ltd is trading at ₹860.00 as of 19 April 2026, with a FY2026-2027 high of ₹1,275 and low of ₹811. The stock is currently near its 52-week low. Market cap stands at ₹516 Cr..

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

Empire Industries Ltd has a P/E ratio of 13.9, which is below the industry average of 40.20. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Empire Industries Ltd financially healthy?

Key indicators for Empire Industries Ltd: ROCE of 14.4 % is moderate. Dividend yield is 2.91 %.

Is Empire Industries Ltd profitable and how is the profit trend?

Empire Industries Ltd reported a net profit of ₹34 Cr in Mar 2025 on revenue of ₹677 Cr. Compared to ₹24 Cr in Mar 2022, the net profit shows an improving trend.

Does Empire Industries Ltd pay dividends?

Empire Industries Ltd has a dividend yield of 2.91 % at the current price of ₹860.00. This is a relatively attractive yield for income-seeking investors.

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 Empire Industries 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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