Emkay Global Financial Services Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹733 Cr
- P/E
- 14.64
- ROE
- 4.52%
- PEG
- 4.73
- Price to sales
- 1.54
- Debt to equity
- 0.40
- 52W high / low
- ₹319 / ₹188
- Sales growth (5Y)
- 19.81%
- EBITDA margin
- 16.12%
- Net profit margin
- 3.90%
- Promoter holding
- 72.89%
- Sales (last year)
- ₹479 Cr
Incorporated in 1995, Emkay Global Financial Services Ltd is in the business of providing capital market services[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Capital Markets
on management's own guidance
- Nippon Life India Asset Management LtdGood growth2
- BSEGood growth1
- Motilal Oswal Financial Services LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Capital Markets companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | BSE | 20–40% | Flat | ₹1.43L Cr | 50.6 |
| 2 | Nippon Life India Asset Management Ltd | 20–40% | Flat | ₹57,947 Cr | 35.4 |
| 3 | Motilal Oswal Financial Services Ltd | 20–40% | Flat | ₹56,798 Cr | 28.7 |
| 4 | 20–40% | Flat | ₹37,393 Cr | 82.4 | |
| 5 | 20–40% | Flat | ₹32,034 Cr | 29.6 | |
| 6 | 20–40% | Flat | ₹14,710 Cr | 41.2 |
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Pro shows every company guiding 40%+ revenue growth →Full Capital Markets rankingFinancials of Emkay Global Financial Services
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Emkay Global Financial Services
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 74.49% | 74.34% | 74.27% | 73.89% | 73.36% | 72.36% | 72.03% | 71.68% | 71.91% | 72.20% | 72.83% | 72.88% |
| FIIs + | 0.76% | 1.17% | 0.76% | 0.77% | 0.83% | 0.82% | 0.85% | 0.88% | 0.80% | 0.84% | 0.75% | 0.88% |
| DIIs + | 0.00% | 0.07% | 0.00% | 0.00% | 0.10% | 0.10% | 0.01% | 0.03% | 0.05% | 0.01% | 0.01% | 0.01% |
| Public + | 24.74% | 24.41% | 24.97% | 25.34% | 25.71% | 26.74% | 27.11% | 27.41% | 27.24% | 26.93% | 26.43% | 26.23% |
| No. of Shareholders | 12,961 | 11,766 | 12,354 | 11,469 | 12,132 | 11,900 | 11,436 | 12,349 | 11,470 | 11,620 | 11,843 | 11,663 |
Financials of Emkay Global Financial Services
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 71 | 75 | 91 | 83 | 108 | 77 | 71 | 73 | 72 | 87 | 148 | 92 | 151 |
| Expenses + | 63 | 65 | 78 | 68 | 79 | 68 | 71 | 67 | 71 | 79 | 136 | 80 | 107 |
| Operating Profit | 8 | 10 | 13 | 15 | 29 | 9 | 0 | 6 | 1 | 8 | 13 | 11 | 45 |
| OPM % | 11% | 14% | 14% | 18% | 27% | 12% | 0.1% | 8% | 2.0% | 9% | 9% | 12% | 30% |
| Other Income + | 8 | 8 | 8 | 6 | 7 | 7 | 6 | 5 | 5 | 5 | 5 | 5 | 5 |
| Interest | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 6 |
| Depreciation | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 3 | 3 |
| Profit before tax | 12 | 15 | 17 | 17 | 31 | 11 | 1 | 5 | 0 | 6 | 10 | 9 | 41 |
| Tax % | 19% | 17% | 37% | 18% | 18% | 22% | -786% | 9% | 6% | 28% | 41% | 8% | 24% |
| Net Profit + | 9 | 12 | 11 | 14 | 26 | 9 | 8 | 5 | 0 | 4 | 6 | 9 | 31 |
| EPS in Rs | 3.76 | 4.97 | 4.28 | 5.61 | 10.43 | 3.43 | 3.35 | 1.88 | 0.18 | 1.66 | 2.16 | 3.33 | 11.10 |
Financials of Emkay Global Financial Services
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 117 | 105 | 109 | 156 | 147 | 135 | 160 | 272 | 205 | 316 | 360 | 396 | 479 |
| Expenses + | 82 | 82 | 85 | 111 | 124 | 137 | 134 | 217 | 190 | 261 | 282 | 348 | 402 |
| Operating Profit | 34 | 24 | 24 | 45 | 23 | -3 | 26 | 55 | 15 | 55 | 79 | 47 | 77 |
| OPM % | 29% | 22% | 22% | 29% | 15% | -1.9% | 16% | 20% | 7% | 17% | 22% | 12% | 16% |
| Other Income + | -36 | 0 | 0 | 0 | 3 | 0 | 2 | 1 | 11 | 4 | 1 | 0 | 20 |
| Interest | 5 | 4 | 3 | 4 | 7 | 7 | 3 | 3 | 4 | 5 | 7 | 13 | 18 |
| Depreciation | 4 | 4 | 4 | 5 | 7 | 8 | 8 | 8 | 9 | 10 | 12 | 13 | 14 |
| Profit before tax | -11 | 17 | 16 | 37 | 12 | -17 | 17 | 46 | 12 | 44 | 61 | 21 | 65 |
| Tax % | 49% | 28% | 26% | 22% | 31% | -29% | 32% | 24% | -12% | 27% | 6% | 29% | |
| Net Profit + | -16 | 12 | 12 | 29 | 9 | -13 | 11 | 34 | 14 | 32 | 57 | 15 | 50 |
| EPS in Rs | -6.44 | 4.92 | 4.99 | 11.66 | 3.55 | -5.11 | 4.52 | 13.72 | 5.71 | 13.14 | 22.40 | 5.80 | 18.25 |
| Dividend Payout % | 0% | 20% | 20% | 17% | 28% | 0% | 22% | 9% | 18% | 11% | 18% | 26% |
Financials of Emkay Global Financial Services
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 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 24 | 24 | 24 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 26 | 28 |
| Reserves | 89 | 98 | 111 | 137 | 142 | 128 | 142 | 176 | 186 | 216 | 278 | 354 | 418 |
| Borrowings + | 35 | 11 | 49 | 34 | 23 | 10 | 17 | 44 | 33 | 52 | 68 | 110 | 179 |
| Other Liabilities + | 112 | 92 | 116 | 169 | 136 | 218 | 381 | 519 | 488 | 772 | 862 | 1,249 | 1,878 |
| Total Liabilities | 261 | 226 | 299 | 365 | 326 | 381 | 565 | 764 | 731 | 1,065 | 1,233 | 1,740 | 2,503 |
| Fixed Assets + | 36 | 35 | 35 | 33 | 35 | 38 | 34 | 32 | 38 | 43 | 41 | 40 | 50 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 |
| Investments | 4 | 11 | 26 | 36 | 28 | 16 | 29 | 34 | 24 | 26 | 32 | 38 | 54 |
| Other Assets + | 221 | 180 | 237 | 296 | 263 | 327 | 501 | 696 | 669 | 996 | 1,160 | 1,662 | 2,398 |
| Total Assets | 261 | 226 | 299 | 365 | 326 | 381 | 565 | 764 | 731 | 1,065 | 1,233 | 1,740 | 2,503 |
Financials of Emkay Global Financial Services
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -4 | 61 | -22 | 30 | 21 | 94 | -44 | 60 | -63 | 24 | -2 | -72 |
| Cash from Investing Activity + | 3 | -8 | -15 | -8 | 4 | -1 | -3 | -4 | 5 | -8 | -10 | -13 |
| Cash from Financing Activity + | -2 | -30 | 35 | -20 | -27 | -26 | -3 | -7 | -7 | 2 | 11 | 86 |
| Net Cash Flow | -3 | 24 | -3 | 2 | -1 | 66 | -51 | 48 | -65 | 18 | -1 | 1 |
| Free Cash Flow | -5 | 59 | -28 | 28 | 18 | 90 | -47 | 55 | -71 | 15 | -9 | -80 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -3% | 265% | -86% | 83% | 101% | -3,675% | -154% | 122% | -376% | 54% | 8% | -118% |
Financials of Emkay Global Financial Services
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 169 | 66 | 218 | 208 | 146 | 145 | 152 | 119 | 188 | 145 | 95 | 159 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 169 | 66 | 218 | 208 | 146 | 145 | 152 | 119 | 188 | 145 | 95 | 159 |
| Working Capital Days | -59 | -161 | -172 | -150 | -134 | -353 | -564 | -372 | -398 | -460 | -271 | -508 |
| ROCE % | 19% | 14% | 12% | 22% | 9% | -6% | 12% | 23% | 7% | 17% | 20% | 8% |
Momentum score · price trend
32 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −14.1% | 43% |
| Last 6 months | +16.8% | 74% |
| Last 3 months | +9.5% | 82% |
The price is 30.8% below its all-time high of ₹381.7 (18 Jan 2008). Stocks more than 20% below their peak have their score halved, so 63 became 32.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Emkay Global Financial Services: 0.4 × 43 + 0.4 × 74 + 0.2 × 82 = 63, halved to 32 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Emkay Global Financial Services's management said in earlier quarters
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