509525

Empire Inds. financials

Market cap
₹632 Cr
Sector
Diversified

What Empire Inds. does

Empire Industries is a Mumbai-headquartered diversified industrial group organised into distinct operating divisions. Its Vitrum Glass division manufactures and markets pharmaceutical-grade glass bottles from a fully automated plant in Vikhroli, Mumbai, producing over 1.9 million bottles a day (5ml to 650ml) for clients including Merck India, GlaxoSmithKline, Abbott India, Cipla, Ajanta Pharma, Zydus and Himalaya. The remaining divisions are Empire Machine Tools, Empire Industrial Equipment, Empire Vending (branded GRABBIT), Empire Foods (a food & grocery retail business recognised as Independent Food & Grocery Retailer of the Year 2016 and Category Champion at METRO Cash & Carry 2017), and real-estate/industrial-park operations under The Empire Business Centre and Empire Industrial Centrum, an award-winning industrial park development.

Segments

  • Vitrum Glass
  • Empire Machine Tools
  • Empire Industrial Equipment
  • Empire Vending (GRABBIT)
  • Empire Foods
  • The Empire Business Centre
  • Empire Industrial Centrum
Manufacturing plants
1 (Vitrum Glass plant, Vikhroli, Mumbai)
Installed capacity (Vitrum Glass)
1.9 million+ bottles/day (5ml–650ml)
Business divisions
7 (Vitrum Glass, Empire Machine Tools, Empire Industrial Equipment, Empire Vending/GRABBIT, Empire Foods, Empire Business Centre, Empire Industrial Centrum)
Major pharma clients served (Vitrum Glass)
Merck India, GlaxoSmithKline, Abbott India, Cipla, Ajanta Pharma, Zydus, Himalaya and others
Founded 1900Headquarters Mumbai, Maharashtra, India Company website

Quarterly results

Q1 FY27: revenue up 10.2%, net profit up 40.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue163 176 186 167 180 +10%189 +7%195 +5%184 +10%
EBITDA19 18 16 15 21 +11%17 −6%33 +106%20 +33%
Net profit10 11 4 10 12 +20%11 +0%19 +375%14 +40%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −10.1% 1Y

₹0.8k₹0.9k₹1.0k₹1.1k₹1.2kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹1,172 on 10 Sept 2025 → ₹1,053.15. High ₹1,222.15 (26 Aug 2026), low ₹825.1 (23 Mar 2026).

Financials, as filed

Revenue grew 2.3% a year over 3 years, FY23 to FY26. Operating margin held at 11.8%.

Year endingFY23FY24FY25FY26
Revenue₹682 Cr₹607 Cr₹677 Cr₹731 Cr
Operating profit₹79 Cr₹65 Cr₹69 Cr₹86 Cr
Operating margin11.6%10.7%10.2%11.8%
Interest₹33 Cr₹27 Cr₹27 Cr₹29 Cr
Depreciation₹16 Cr₹16 Cr₹17 Cr₹16 Cr
Net profit₹36 Cr₹37 Cr₹35 Cr₹52 Cr
Net margin5.3%6.1%5.2%7.1%
Cash from operations₹79 Cr₹75 Cr₹92 Cr₹59 Cr
Free cash flow₹103 Cr₹64 Cr₹86 Cr₹46 Cr
ROCE16.0%15.0%14.0%18.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹6 Cr₹6 Cr₹6 Cr₹6 Cr₹6 Cr₹6 Cr
Reserves₹241 Cr₹250 Cr₹277 Cr₹294 Cr₹319 Cr₹345 Cr
Borrowings₹259 Cr₹232 Cr₹183 Cr₹168 Cr₹182 Cr₹172 Cr
Other liabilities₹207 Cr₹219 Cr₹274 Cr₹256 Cr₹301 Cr₹292 Cr
Total liabilities₹713 Cr₹707 Cr₹740 Cr₹724 Cr₹809 Cr₹815 Cr
Fixed assets₹303 Cr₹352 Cr₹317 Cr₹315 Cr₹299 Cr₹301 Cr
Capital work in progress₹75 Cr₹9 Cr₹9 Cr₹0 Cr₹3 Cr₹2 Cr
Investments₹0 Cr₹0 Cr₹1 Cr₹29 Cr₹59 Cr₹60 Cr
Other assets₹335 Cr₹346 Cr₹412 Cr₹380 Cr₹448 Cr₹453 Cr
Total assets₹713 Cr₹707 Cr₹740 Cr₹724 Cr₹809 Cr₹815 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

The ownership split has held steady since Jun 2025. The shareholder count grew 6% to 7,635.

Promoters
72.5%
DIIs
6.0%
Public
21.5%

Since Jun 2025

  • Public −0.02 pp
  • Promoters 0.00 pp
  • DIIs 0.00 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 72.5%, DIIs 6.5%, Public 21.0%.Dec '23: Promoters 72.5%, DIIs 6.4%, Public 21.1%.Mar '24: Promoters 72.5%, DIIs 6.4%, Public 21.1%.Jun '24: Promoters 72.5%, DIIs 6.4%, Public 21.1%.Sep '24: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Dec '24: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Mar '25: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Jun '25: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Sep '25: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Dec '25: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Mar '26: Promoters 72.5%, DIIs 6.0%, Public 21.5%.Jun '26: Promoters 72.5%, DIIs 6.0%, Public 21.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Empire Inds. above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Dileep Malhotra 27.05%unchanged
Ranjit Malhotra 18.59%unchanged
Randil Trading Company Private Limited 18.53%unchanged
LICI Asm Non Par Insurer5.95%unchanged
Kabir Malhotra 3.26%unchanged
Anjali Ranjit Malhotra 2.12%unchanged
Uma Malhotra 2.09%unchanged
Dheeraj Kumar Lohia 1.01%unchanged
S C MALHOTRA, Trustee, EIL Corporate Employees Welfare Fund 0.21%unchanged
S C MALHOTRA, Trustee, Garlick Engineering Employees Welfare Fund 0.20%unchanged
S C MALHOTRA, Trustee, Empire Dyeing Employees Welfare Fund 0.17%unchanged
S C MALHOTRA, Trustee, Empire Machine Tool Employees Welfare Fund 0.17%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹1053, this stock must grow earnings at 5% every year for 7 years. Our analysis caps realistic growth at ~13%. At that growth it is worth ₹1615 — upside of 53%.

Growth the price implies
5.2% a year
for 7 years, fading to 4%
It has actually compounded at
13.1% a year
net profit, FY23–FY26 · EPS 13.2%
The gap
-0.1 pp
53% downside if it only repeats history
Price today ₹1,053.15 Value at the reference growth ₹1,615.24

Change the assumptions yourself →

Learn to analyse Empire Inds.

Guides on how to read this kind of business and the numbers that matter.