Indian Emulsifiers Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹65 Cr
- P/E
- 3.37
- ROE
- 16.88%
- Price to sales
- 0.42
- Debt to equity
- 0.37
- 52W high / low
- ₹122 / ₹32.7
- EBITDA margin
- 16.18%
- Net profit margin
- 12.10%
- Promoter holding
- 32.64%
- Sales (last year)
- ₹160 Cr
Incorporated in 2020, Indian Emulsifiers Ltd is in the business of Manufacturing and Supplying of Speciality Chemicals[1]
Guidance scorecard · Q4 FY26 call
What Indian Emuls's management guided
and where it ranks in Chemicals & Petrochemicals
Chemicals & Petrochemicals
RevenueQ4 FY26 call
20–40%- FY26 revenue growth was lower than previously guided (60% vs expected 100%) due to unforeseen global issues and February-March market panic.
- Australia market shipment recently started; targeted revenue of ₹75 crore cumulatively over FY26-FY28 expected.
- New American subsidiary set up; contribution to revenue expected from FY27 onwards, targeting oil, gas, and other industries.
- Current capacity supports approx. ₹230-260 crore revenue; new Greenfield facility (400-500 MT capacity) expected operational by end FY27, boosting capacity.
- Additional adjoining land acquired for QC, R&D, and food-grade emulsifier products with certifications; expected addition by early FY28.
2 more points from Indian Emuls's call on revenue
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MarginsQ4 FY26 call
Up 0–2%See what Indian Emuls said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company is undertaking a Greenfield project on plot C3, expected to be operational by end of FY27, adding 400 to 500 metric tons capacity.
- An adjoining plot was purchased in February to expand QC and R&D facilities and build a food-grade emulsifier facility with required certification; expected online by end FY27 or early FY28.
- The new food-grade facility will add 200 to 250 metric tons of capacity, though exact numbers may vary due to certification.
- Space provisions exist on the new plot to potentially add another 300 to 500 metric tons capacity in the future.
- The rights issue in November funded the upcoming capacity addition and capital expenditure.
2 more points from Indian Emuls's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Indian Emuls said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- Capacity expansion is underway to meet growing demand, indicating an anticipation of increased orders.
- The company is focused on scaling capacity, deepening footprint, and operational efficiency for growth.
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
Potential multibaggers in Chemicals & Petrochemicals
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Chemicals & Petrochemicals companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 0–2% | ₹263 Cr | 3.4 | |
| 2 | 40%+ | Flat | ₹4,375 Cr | 83.7 | |
| 3 | 40%+ | Flat | ₹3,259 Cr | 4.0 | |
| 4 | 40%+ | Flat | ₹145 Cr | 15.9 | |
| 5 | 20–40% | Up 2%+ | ₹1.81L Cr | 90.9 | |
| 6 | 20–40% | Up 2%+ | ₹48,366 Cr | 78.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Chemicals & Petrochemicals rankingFinancials of Indian Emuls
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Indian Emuls
Quarterly Results
Quarter-by-quarter operating performance
Financials of Indian Emuls
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 0 | 18 | 41 | 67 | 101 | 160 |
| Expenses + | 0 | 17 | 33 | 52 | 82 | 134 |
| Operating Profit | 0 | 1 | 8 | 15 | 20 | 26 |
| OPM % | 5% | 19% | 22% | 19% | 16% | |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 0 |
| Interest | 0 | 0 | 2 | 2 | 2 | 4 |
| Depreciation | 0 | 0 | 1 | 2 | 2 | 3 |
| Profit before tax | 0 | 0 | 5 | 11 | 16 | 20 |
| Tax % | 67% | 16% | 18% | 19% | 18% | |
| Net Profit + | 0 | 0 | 4 | 9 | 13 | 16 |
| EPS in Rs | 0.04 | 4.32 | 6.53 | 7.27 | 8.84 | |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Financials of Indian Emuls
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 6 | 6 | 9 | 12 | 18 |
| Reserves | 0 | 0 | 4 | 19 | 70 | 129 |
| Borrowings + | 1 | 13 | 22 | 24 | 26 | 55 |
| Other Liabilities + | 0 | 0 | 2 | 12 | 10 | 33 |
| Total Liabilities | 1 | 19 | 34 | 64 | 117 | 235 |
| Fixed Assets + | 0 | 10 | 13 | 17 | 19 | 53 |
| CWIP | 0 | 0 | 0 | 3 | 21 | 23 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 1 | 9 | 22 | 44 | 77 | 159 |
| Total Assets | 1 | 19 | 34 | 64 | 117 | 235 |
Financials of Indian Emuls
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | -6 | 0 | 0 | -17 | -28 |
| Cash from Investing Activity + | 0 | -2 | -0 | -8 | -24 | -39 |
| Cash from Financing Activity + | 0 | 8 | 0 | 8 | 40 | 75 |
| Net Cash Flow | 0 | -0 | 0 | 0 | -0 | 7 |
| Free Cash Flow | 0 | -16 | -4 | -9 | -39 | -66 |
| CFO/OP | -720% | 3% | 8% | -74% | -96% |
Financials of Indian Emuls
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 60 | 71 | 101 | 110 | 131 | |
| Inventory Days | 32 | 106 | 162 | 185 | 191 | |
| Days Payable | 0 | 11 | 69 | 33 | 78 | |
| Cash Conversion Cycle | 92 | 166 | 195 | 263 | 245 | |
| Working Capital Days | 125 | 97 | 115 | 172 | 201 | |
| ROCE % | 6% | 26% | 31% | 24% | 15% |
Guidance history
How Indian Emuls's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | — |
| Q2 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q4 FY25 call → | 40%+ | Up 2%+ | Planned | Planned | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Indian Emuls's management said in earlier quarters
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