EMAMILTD

Emami share price & financials

Price
₹413.5
Market cap
₹17.6k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 04 Aug 2026

Emami Q1 FY27

Consolidated Revenue ₹1,039 cr +15%EBITDA ₹226 cr +6%Profit After Tax ₹137 cr −16%

What went well

  • Consolidated revenue grew by 15% to ₹1,039 crores.
  • Domestic business grew by 20% (12% like-to-like) with 8% volume growth.
  • Strategic investment portfolio grew by an impressive 61% like-to-like, now contributing 18% of domestic business.

What to watch

  • International business declined by 12% due to disruptions in the West Asia conflict.
  • Profit after tax was lower by 16% to ₹137 crores due to normalization of the effective tax rate.
Read the full call →

What Emami does

Emami Limited manufactures and markets personal care and healthcare products sold through a large retail and distributor network across India and international markets. It earns primarily through its domestic branded portfolio spanning pain management, healthcare, male grooming and hair-care categories, supplemented by international sales across SAARC, MENA, SEA, Africa and CIS regions. The company has grown its portfolio through acquisitions (Zandu Pharmaceutical Works, Kesh King, Creme 21, Dermicool) and strategic stakes in new-age FMCG and personal-care ventures such as The Man Company, Brillare, Axiom Ayurveda and IncNut.

Segments

  • Pain Management Range
  • Navratna & Dermicool Range
  • BoroPlus Range
  • Healthcare Range
  • Kesh King Range
  • Male Grooming Range
  • 7 Oils in One
  • The Man Company & Brillare
  • International Business
Retail outlets reached (India)
5.4 million+
Distributors (India)
3,400+
Countries with international presence
70
Product portfolio size
550+ products
Manufacturing factories
6 (including one overseas unit)
Regional offices
4
Founded 1974Headquarters Emami Tower, 687, Anandapur, EM Bypass, Kolkata 700107, West Bengal, India Company website

Guidance record · Q1 FY27

what the last two calls moved 28 tracked 7 delivered 8 missed 13 open
  • Investee Companies Portfolio Growth delivered said Q4 FY26 Promised: 30% year-on-year Q1 FY27: The strategic investment portfolio grew by an impressive 61% on a like-to-like basis in Q1 FY27, significantly exceeding the 30% YoY target.
  • Tax Rate missed said Q3 FY25 Promised: 8-9% Q1 FY27: No new information provided on the final FY25 tax rate.
  • Consolidated Effective Tax Rate revised down said Q3 FY26 Promised: Below 20% Q1 FY27: Management revised the full-year tax rate guidance to 25-26%, a significant increase from the previous guidance of 'below 20%', citing the end of fiscal benefits.

All 28 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 3.2%, net profit up 11.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue709 879 781 756 604 −15%958 +9%730 −7%780 +3%
EBITDA226 328 191 201 168 −26%385 +17%196 +3%215 +7%
Net profit214 279 190 163 182 −15%330 +18%166 −13%182 +12%
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 −39.3% 1Y

₹350₹400₹450₹500₹550₹600Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 4 Feb 2026Q4 FY26 — 21 May 2026Q1 FY27 — 4 Aug 2026

1Y: ₹599.8 on 10 Sept 2025 → ₹363.8. High ₹603.25 (17 Sept 2025), low ₹363.65 (8 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−3.5%
4 Aug
Q4 FY26
−3.1%
21 May
Q3 FY26
+1.3%
4 Feb
Q2 FY26
+2.3%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 3.6% a year over 3 years, FY23 to FY26. Operating margin widened to 31.2%.

Year endingFY23FY24FY25FY26
Revenue₹3.4k Cr₹2.9k Cr₹3.1k Cr₹3.0k Cr
Operating profit₹855 Cr₹851 Cr₹937 Cr₹950 Cr
Operating margin25.1%29.1%30.0%31.2%
Interest₹7 Cr₹1 Cr₹2 Cr₹0 Cr
Depreciation₹247 Cr₹166 Cr₹158 Cr₹155 Cr
Net profit₹628 Cr₹694 Cr₹859 Cr₹841 Cr
Net margin18.4%23.8%27.5%27.6%
Cash from operations₹731 Cr₹740 Cr₹864 Cr₹794 Cr
Free cash flow₹710 Cr₹713 Cr₹824 Cr₹760 Cr
ROCE26.0%31.0%34.0%28.0%
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₹44 Cr₹44 Cr₹44 Cr₹44 Cr₹44 Cr₹44 Cr
Reserves₹1.7k Cr₹2.0k Cr₹2.2k Cr₹2.3k Cr₹2.9k Cr₹3.1k Cr
Borrowings₹47 Cr₹224 Cr₹21 Cr₹22 Cr₹72 Cr₹92 Cr
Other liabilities₹498 Cr₹516 Cr₹467 Cr₹441 Cr₹668 Cr₹478 Cr
Total liabilities₹2.3k Cr₹2.8k Cr₹2.8k Cr₹2.8k Cr₹3.7k Cr₹3.7k Cr
Fixed assets₹1.1k Cr₹1.3k Cr₹1.1k Cr₹960 Cr₹917 Cr₹748 Cr
Capital work in progress₹6 Cr₹3 Cr₹2 Cr₹5 Cr₹18 Cr₹1 Cr
Investments₹264 Cr₹361 Cr₹392 Cr₹560 Cr₹858 Cr₹1.2k Cr
Other assets₹934 Cr₹1.2k Cr₹1.3k Cr₹1.3k Cr₹1.9k Cr₹1.8k Cr
Total assets₹2.3k Cr₹2.8k Cr₹2.8k Cr₹2.8k Cr₹3.7k Cr₹3.7k 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

Since Jun 2025, FIIs trimmed −4.02 pp while DIIs added +2.94 pp. The shareholder count grew 4% to 1,31,617.

Promoters
54.8%
FIIs
7.9%
DIIs
27.0%
Public
10.3%

Since Jun 2025

  • FIIs −4.02 pp
  • DIIs +2.94 pp
  • Public +1.07 pp

How it drifted, 12 quarters

Over this window FIIs fell from 11.9% to 7.9% — −4.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 54.8%, FIIs 11.9%, DIIs 25.2%, Public 8.1%.Dec '23: Promoters 54.8%, FIIs 12.9%, DIIs 23.9%, Public 8.3%.Mar '24: Promoters 54.8%, FIIs 13.5%, DIIs 22.1%, Public 9.6%.Jun '24: Promoters 54.8%, FIIs 14.0%, DIIs 21.6%, Public 9.5%.Sep '24: Promoters 54.8%, FIIs 14.4%, DIIs 21.5%, Public 9.3%.Dec '24: Promoters 54.8%, FIIs 14.1%, DIIs 21.7%, Public 9.4%.Mar '25: Promoters 54.8%, FIIs 12.1%, DIIs 23.7%, Public 9.4%.Jun '25: Promoters 54.8%, FIIs 11.9%, DIIs 24.1%, Public 9.2%.Sep '25: Promoters 54.8%, FIIs 10.9%, DIIs 25.0%, Public 9.2%.Dec '25: Promoters 54.8%, FIIs 9.0%, DIIs 26.7%, Public 9.4%.Mar '26: Promoters 54.8%, FIIs 8.6%, DIIs 26.9%, Public 9.7%.Jun '26: Promoters 54.8%, FIIs 7.9%, DIIs 27.0%, Public 10.3%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

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

HolderStakeChange
Suraj Finvest Private Limited 24.20%unchanged
Diwakar Finvest Private Ltd 22.63%unchanged
Nippon Life India Trustee Ltd.- A/C Nippon India Nifty 500 Quality 50 Index Fund Mutual fund6.64%+0.55 pp
DSP Aggressive Hybrid Fund Mutual fund4.10%−0.25 pp
Priti A Sureka 3.78%unchanged
HDFC Large And Mid Cap Fund Mutual fund3.04%unchanged
Avees Trading And Finance Pvt Ltd 2.00%unchanged
SBI Consumption Opportunities Fund Mutual fund1.89%unchanged
Franklin India Dividend Yield Fund Mutual fund1.84%unchanged
UTI Aggressive Hybrid Fund Mutual fund1.69%−0.06 pp
Bandhan ELSS Tax Saver Fund Mutual fund1.65%+0.26 pp
Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life BSE 50 Mutual fund1.16%−0.17 pp

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.

Mutual funds in EMAMILTD

Filings to Aug 2026

0 new, 4 added, 2 trimmed, 1 sold out — net −4.38 L shares (−1.0%).

Held by funds
₹1.6k Cr
14 schemes
Biggest holder
Nippon India Small Cap Fund
₹613 Cr · 0.7% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹613 Crheld
Nippon India Multi Cap Fund Nippon India Mutual Fund₹419 Crheld
SBI Large and Midcap Fund SBI Mutual Fund₹237 Crheld
HDFC Small Cap Fund HDFC Mutual Fund₹134 Crheld
HDFC Large and Mid Cap Fund HDFC Mutual Fund₹62 Crheld
SBI Multi Asset Allocation Fund SBI Mutual Fund₹36 Crheld
HDFC Dividend Yield Fund HDFC Mutual Fund₹20 Crheld
Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund₹11 Cr+0.04 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

4 added, 2 trimmed — net −4.38 L shares (−1.0%)

Funds are sitting on
-19%
vs est. average cost
Held by funds
₹1.6k Cr
14 schemes · ≈ 9.9% of the company
Biggest holder
Nippon India Small Cap Fund
₹613 Cr · 0.7% of that fund
Longest holder
Nippon India Multi Cap Fund
5y 1m · since Aug '21

Shares held by these funds +81%

Aug '23 4.25 cr shares Jul '26

What the price assumes

Fair

To justify its price of ₹364, this stock must grow earnings at 12% every year for 7 years. Our analysis caps realistic growth at ~10%. At that growth it is worth ₹323 — downside of 11%.

Growth the price implies
12.3% a year
for 7 years, fading to 4%
It has actually compounded at
10.2% a year
net profit, FY23–FY26 · EPS 10.0%
The gap
0.0 pp
-11% downside if it only repeats history
Price today ₹363.8 Value at the reference growth ₹322.69

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Emami

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