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    Emami

    Kolkata-based FMCG maker of personal care and healthcare brands like Navratna, BoroPlus, Zandu and Kesh King.

    Fast Moving Consumer Goods
    Fast Moving Consumer Goods
    View EMAMILTD earnings calls
    ₹413.5
    -2.15% from avg

    Overview

    Price

    ₹413.5

    Market Cap

    ₹18.1k Cr

    Sector

    Fast Moving Consumer Goods

    Fast Moving Consumer Goods

    Rank

    4

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital4544444444444444
    Reserves1.8k1.7k2.0k2.3k2.4k2.7k2.9k2.9k
    Borrowings21010128291949072162
    Other Liabilities644656692703728741668751
    Total Liabilities2.7k2.5k3.0k3.1k3.3k3.5k3.7k3.8k
    AssetsFixed Assets1.5k1.1k1.3k1.2k1.1k984917887
    CWIP8636815181
    Investments156255303293442676858834
    Other Assets1.1k1.1k1.4k1.6k1.7k1.9k1.9k2.1k
    Total Assets2.7k2.5k3.0k3.1k3.3k3.5k3.7k3.8k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating554531922644749779896801
    Cash from Investing-26-231-224-234-122-210-345-181
    Cash from Financing-428-405-688-402-608-563-500-554
    SummaryCapital Expenditure
    Free Cash Flow421383890164719750852770
    FCF Margin

    Valuation

    Assumptions

    Current — EMAMILTD
    Price
    ₹414
    EPS (TTM)
    ₹17.76
    PE (TTM)
    23.3
    Profit growth
    8.9%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (31.2×) and current (23.3×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹414
    vs
    Fair value · 15% return
    ₹268
    35%Overvalued

    At 8.9% growth and a 23× exit, ₹414 only delivers your return if you pay ₹268. The price is currently baking in 18% growth.

    EPS grows 8.9%/yr for 5 years, then fades to 6% over 2, exits at 23×.

    YearGrowthEPS (₹)
    FY278.9%19.34
    FY288.9%21.06
    FY298.9%22.94
    FY308.9%24.98
    FY318.9%27.20
    FY327.5% ·fade29.23
    FY336.0% ·fade30.98

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Emami

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