What is Emerald Finance Ltd revenue growth outlook?

Emerald Finance Ltd has a current market cap of ₹177 Cr and P/E ratio of 11. For detailed revenue growth insights derived from the latest earnings call, visit the Emerald Finance Ltd analysis page on Arthneeti AI.

What is Emerald Finance Ltd current stock price?

Emerald Finance Ltd current market price is ₹51.28. The stock trades at a P/E ratio of 11 with a market capitalisation of ₹177 Cr.

How does Arthneeti AI analyse Emerald Finance Ltd?

Arthneeti AI uses natural language processing to analyse Emerald Finance Ltd's earnings call transcripts and extract key insights on revenue growth, margins, capex plans, and fundraising activity. The analysis covers management commentary, forward guidance, and competitive positioning within the

Emerald Finance Q1 FY27 Share Price & Earnings Call Analysis

₹51.28+1.75% today

Market cap: ₹177 Cr
P/E: 11.00
ROE: 15.98%
PEG: 0.18
Price to sales: 5.22
Debt to equity: 0.18
52W high / low: ₹91.3 / ₹46.3
Sales growth (5Y): 41.75%
EBITDA margin: 75.77%
Net profit margin: 48.57%
Promoter holding: 59.70%
Sales (last year): ₹34 Cr

All 12 ratios ↓

Guidance scorecard · Q1 FY27 call

What Emerald Finance Ltd's management guided

Revenue10–20%MarginsFlat CapexWhat management said FundraisingNone planned Order bookFlat

RevenueQ1 FY27 call

10–20%

The company targets steady AUM growth with significant leeway to grow EWA and MSME businesses without equity dilution.
Monthly EWA disbursal run rate is Rs. 26 crores, expected to grow around 20% quarter-on-quarter as more large corporates are onboarded.
Focus on onboarding bigger corporates with large employee bases (e.g., an 11,000 employee client recently added), which will boost transaction volumes.
Gold loan business currently facing a downturn due to regulatory constraints but expected to pick up from Q3 or Q4 with new bank tie-ups (e.g., AU Bank and another in pipeline).
Revenue contribution from EWA projected to stabilize between 30-40% of consolidated revenue, up from earlier 10%.

2 more points from Emerald Finance Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

The company targets an EPS of 7 for FY'27, implying a required PAT growth of approximately 66% year-on-year without equity dilution.
Management expects to achieve the EPS guidance by accelerating growth in upcoming quarters, especially after a slow Q1.
PAT growth has been strong historically (around 80-90% CAGR) but is expected to stabilize to 40%-50% over the next 2-3 years.
Quarterly PAT growth guidance is around 10%-12% Q-on-Q with steady loan disbursement and distribution growth.
Focus on growing EWA business, MSME loans, mortgage/home loans, and education loans segments for diversified growth.

2 more points from Emerald Finance Ltd's call on margins

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Full Q1 FY27 analysis

CapexQ1 FY27 call

Emerald Finance Limited plans to launch new financial products within the current quarter, with final testing and technical integration underway with vendors.
These upcoming products will be distributed primarily through their app and portal website, targeting both existing EWA customers and the general market.
The company is not planning equity dilution presently and is focused on growing via debt with a comfortable debt-equity ratio; they have room to raise approximately Rs. 63 crores more debt to support business growth.
No co-lending arrangements are planned for the EWA product due to RBI regulations on interest-free advances.

2 more points from Emerald Finance Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

Current borrowing is around Rs. 27 crore as of June 30, 2026, with a net worth of Rs. 90 crore, giving substantial leeway for debt.
The company can easily borrow an additional Rs. 63 crore while maintaining a manageable debt-equity ratio of 1:1.
Enhancement proposal for borrowing from SBI is under process.
Approaching one to two more banks for borrowing.

2 more points from Emerald Finance Ltd's call on fundraising

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Full Q1 FY27 analysis

Order bookQ1 FY27 call

Flat

The company emphasizes onboarding more and larger corporate clients to increase their employee base engaged for business.
As of the latest quarter, onboarding includes corporates with significant employee counts, e.g., one client with 11,000 employees where only 1,000 employees were onboarded so far.
The focus is on quality corporates rather than setting upper targets on numbers.

2 more points from Emerald Finance Ltd's call on the order book

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Full Q1 FY27 analysis

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

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See all potential multibaggers Where does Emerald Finance Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Financials of Emerald Finance Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Emerald Finance Ltd

Quarterly Results

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue +	3.87	2.78	3.24	3.42	3.89	4.39	5.00	5.72	6.45	6.71	6.90	7.80	9.75
Interest	0.23	0.22	0.26	0.44	0.50	0.66	0.76	0.77	0.72	0.68	0.61	0.69	0.71
Expenses +	1.83	1.41	1.73	1.40	1.83	1.45	1.50	1.66	2.08	1.80	1.48	1.77	2.94
Financing Profit	1.81	1.15	1.25	1.58	1.56	2.28	2.74	3.29	3.65	4.23	4.81	5.34	6.10
Financing Margin %	46.77%	41.37%	38.58%	46.20%	40.10%	51.94%	54.80%	57.52%	56.59%	63.04%	69.71%	68.46%	62.56%
Other Income +	-0.07	0.00	0.02	0.01	0.02	0.01	0.01	0.02	0.03	0.03	0.00	0.00	0.01
Depreciation	0.03	0.00	0.00	0.00	0.06	0.00	0.00	0.00	0.08	0.00	0.00	0.00	0.17
Profit before tax	1.71	1.15	1.27	1.59	1.52	2.29	2.75	3.31	3.60	4.26	4.81	5.34	5.94
Tax %	26.32%	25.22%	25.20%	25.79%	25.00%	25.33%	25.09%	25.08%	26.39%	25.12%	25.16%	25.09%	26.77%
Net Profit +	1.25	0.86	0.95	1.19	1.13	1.71	2.05	2.48	2.65	3.19	3.60	4.00	4.35
EPS in Rs	0.41	0.29	0.32	0.39	0.37	0.57	0.63	0.73	0.74	0.92	1.04	1.11	1.17
Gross NPA %
Net NPA %

Financials of Emerald Finance Ltd

Profit & Loss

Annual income statement trend

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue +	1	1	2	4	7	8	5	8	12	13	22	31
Interest	0	0	0	0	0	0	0	1	1	1	3	3
Expenses +	1	1	1	4	5	6	3	5	6	6	6	8
Financing Profit	0	0	0	1	2	2	2	3	5	6	12	20
Financing Margin %	16%	21%	17%	18%	24%	21%	36%	40%	41%	42%	56%	66%
Other Income +	0	0	0	0	0	0	-0	0	-0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0
Profit before tax	0	0	0	1	2	2	2	3	5	6	12	20
Tax %	29%	31%	29%	26%	28%	21%	26%	26%	25%	26%	25%	26%
Net Profit +	0	0	0	1	1	1	1	2	3	4	9	15
EPS in Rs	0.03	0.03	0.07	0.19	0.41	0.44	0.48	0.85	1.15	1.37	2.62	4.19
Dividend Payout %	0%	0%	0%	0%	0%	18%	6%	12%	9%	7%	6%	2%

Financials of Emerald Finance Ltd

Balance Sheet

Capital structure and asset base

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3	3	3	3	9	9	9	29	30	30	35	35
Reserves	0	0	1	2	5	6	7	9	13	17	50	62
Borrowing	0	0	0	1	1	3	3	5	5	15	16	17
Other Liabilities +	0	0	1	1	1	2	4	3	3	3	6	7
Total Liabilities	3	3	5	7	16	20	23	46	52	65	106	121
Fixed Assets +	0	0	0	0	0	0	0	0	0	1	1	1
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets +	3	3	5	7	16	20	23	45	51	64	105	119
Total Assets	3	3	5	7	16	20	23	46	52	65	106	121

Financials of Emerald Finance Ltd

Cash Flows

Operating, investing and financing cash movement

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	0	0	-0	0	-5	-4	3	-23	2	-11	-13
Cash from Investing Activity +	0	0	-1	-0	-0	-0	-0	-0	-0	-0	-0
Cash from Financing Activity +	0	0	2	1	8	1	-0	21	3	8	28
Net Cash Flow	0	0	0	1	3	-3	2	-2	5	-4	15
Free Cash Flow	0	0	-1	0	-5	-4	3	-23	1	-12	-14
CFO/OP	0%	0%	-166%	9%	-276%	-178%	107%	-586%	27%	-159%	-88%

Financials of Emerald Finance Ltd

Ratios

Working capital efficiency and return ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE %	3%	3%	5%	12%	12%	9%	9%	9%	9%	9%	14%	16%

Guidance history

How Emerald Finance Ltd's guidance has moved, call by call

Call	Revenue	Margins	Capex	Fundraising	Order book
Q1 FY27 call →	10–20%	Flat	—	None planned	Flat
Q4 FY26 call →	10–20%	Flat	Planned	Planned	—
Q3 FY26 call →	20–40%	Flat	Planned	Planned	—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Emerald Finance Q1 FY27 Share Price & Earnings Call Analysis

What Emerald Finance Ltd's management guided

RevenueQ1 FY27 call

MarginsQ1 FY27 call

CapexQ1 FY27 call

FundraisingQ1 FY27 call

Order bookQ1 FY27 call

This quarter's potential multibaggers on management's own guidance

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Financials of Emerald Finance Ltd

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

How Emerald Finance Ltd's guidance has moved, call by call

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What Emerald Finance Ltd's management said in earlier quarters

This quarter's potential multibaggers
on management's own guidance

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