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Equinox India Developments Ltd
(EMBDL)
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Rating:44Neutral
Price Target:
₹57.00
▲(13.82% Upside)
Action:Reiterated
Date:09/22/26
The score is primarily held down by deteriorating fundamentals, including a sharp swing to operating/net losses and a move to negative operating and free cash flow. Technicals are mixed but lean weak with price below key longer-term moving averages and a negative MACD, while valuation is constrained by negative earnings and no provided dividend yield.
Positive Factors
Moderate Leverage
Moderate leverage provides some financial flexibility relative to a more highly indebted structure. This can reduce balance-sheet pressure and preserve capacity to manage obligations or support operations, although that benefit depends on profitability and cash generation recovering over the medium term.
Negative Factors
Revenue Contraction
The year-over-year revenue decline signals weaker business activity and reduces the scale over which fixed operating costs can be absorbed. Continued contraction would make recovery more difficult, weaken earnings capacity, and limit internally generated resources available for development or balance-sheet improvement.
Read all positive and negative factors
Positive Factors
Negative Factors
Moderate Leverage
Moderate leverage provides some financial flexibility relative to a more highly indebted structure. This can reduce balance-sheet pressure and preserve capacity to manage obligations or support operations, although that benefit depends on profitability and cash generation recovering over the medium term.
Read all positive factors
Equinox India Developments Ltd (EMBDL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹77.93B
Dividend YieldN/A
Average Volume (3M)184.99K
Price to Earnings (P/E)―
Beta (1Y)1.76
Revenue Growth-48.92%
EPS Growth-457.09%
CountryIN
Employees296
SectorGeneral
Sector StrengthN/A
IndustryReal Estate - Development
Share Statistics
EPS (TTM)-6.81
Shares Outstanding1,390,633,400
10 Day Avg. Volume201,461
30 Day Avg. Volume184,989
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.57
Price to Sales (P/S)3.44
P/FCF Ratio9.58K
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Equinox India Developments Ltd Business Overview & Revenue Model
Company Description
Embassy Developments Limited operates as a real estate firm across India. The company specializes in the construction and development of various property types, encompassing residential, commercial, and Special Economic Zone (SEZ) projects within ...
How the Company Makes Money
null...
Equinox India Developments Ltd Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
58
Neutral
Cash Flow
33
Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.98B | 16.34B | 21.63B | 12.16B | 3.55B | 14.34B |
| Gross Profit | 1.36B | 1.03B | 5.60B | 3.11B | -2.86B | 2.37B |
| EBITDA | -4.12B | -3.02B | 4.92B | 28.97M | -5.23B | 949.30M |
| Net Income | -9.44B | -8.73B | 2.00B | -4.97B | -6.08B | -1.37B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 215.38B | 204.84B | 99.39B | 65.07B | 77.51B |
| Cash, Cash Equivalents and Short-Term Investments | 11.36B | 11.36B | 3.73B | 865.62M | 1.83B | 1.90B |
| Total Debt | 0.00 | 53.22B | 45.99B | 77.49B | 2.68B | 13.29B |
| Total Liabilities | -99.64B | 115.74B | 111.64B | 108.40B | 28.40B | 43.25B |
| Stockholders Equity | 99.64B | 98.68B | 93.21B | -14.46B | 36.56B | 34.15B |
Cash Flow | ||||||
| Free Cash Flow | 2.63B | 5.87M | 14.07B | 5.99B | -3.44B | -2.48B |
| Operating Cash Flow | 2.69B | 444.76M | 14.61B | 6.90B | -3.43B | -2.48B |
| Investing Cash Flow | 12.74M | -785.55M | 51.55M | -4.90B | 6.61B | 2.80B |
| Financing Cash Flow | 3.20B | 6.29B | -13.61B | -2.44B | -3.31B | -638.10M |
Equinox India Developments Ltd Technical Analysis
Neutral
50.08
Price Trends
59.97
Negative
61.26
Negative
59.71
Negative
Market Momentum
-0.82
Negative
48.02
Neutral
23.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EMBDL, the sentiment is Neutral. The current price of 50.08 is below the 20-day moving average (MA) of 57.02, below the 50-day MA of 59.97, and below the 200-day MA of 59.71, indicating a neutral trend. The MACD of -0.82 indicates Negative momentum. The RSI at 48.02 is Neutral, neither overbought nor oversold. The STOCH value of 23.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:EMBDL.
Equinox India Developments Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | ₹7.69B | 70.01 | ― | ― | -6.79% | ― | |
56 Neutral | ₹622.41B | 55.49 | ― | 0.14% | 65.81% | 111.83% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹74.98B | 22.32 | ― | 1.99% | 875.69% | 195.25% | |
44 Neutral | ₹77.93B | -8.42 | ― | ― | -48.92% | -457.09% | |
44 Neutral | ₹1.48B | -16.87 | ― | 0.15% | -11.48% | 69.64% | |
42 Neutral | ₹31.76B | -276.90 | ― | ― | -42.84% | -46.09% |
* General Sector Average
IN:EMBDL
Equinox India Developments Ltd
57.38
-37.36
-39.43%
IN:HEMIPROP
Hemisphere Properties India Ltd.
113.20
-30.70
-21.33%
IN:MAHLIFE
Mahindra Lifespace Developers Limited
351.80
-5.90
-1.65%
IN:PRESTIGE
Prestige Estates Projects Limited
1,460.10
-67.61
-4.43%
IN:PROZONER
Prozone Realty Ltd
52.30
-5.66
-9.77%
IN:VIPULLTD
Vipul Limited
10.20
0.83
8.86%
Equinox India Developments Ltd Corporate Events
Embassy Developments seals record ₹711 crore luxury tower sale in Juhu
Sep 22, 2026
Embassy Developments Limited has signed a Memorandum of Understanding to sell an entire residential tower at its ultra-luxury Embassy Terazza project in Juhu, Mumbai, to Angel One founder and CMD Dinesh Thakkar for about ₹711 crore. The asse...
Embassy Developments Clears INR 160 Crore Private NCD Issue
Sep 19, 2026
Embassy Developments Limited has authorised the raising of up to INR 160 crore through a private placement of as many as 16,000 rated, unlisted, secured, redeemable, taxable non-convertible debentures with a face value of INR 1,00,000 each. The en...
Embassy Developments Launches 85-Acre ‘Natural Intelligence’ Community in North Bengaluru
Sep 15, 2026
Embassy Developments has launched Embassy Origins, an approximately 85-acre residential community in North Bengaluru built around a ‘Natural Intelligence’ design philosophy that uses the site’s ecology, water systems, contours an...
Embassy Developments Names Neel Virwani Chief Business Officer to Drive Pan-India Growth
Sep 9, 2026
Embassy Developments Limited has appointed Neel Virwani, a promoter from the next generation of Embassy Group leadership, as Chief Business Officer effective October 1, 2026. Neel, who has worked on strategic planning, business development, brand ...
Embassy Developments Issues Corrigendum to 20th AGM Notice on Preferential Issue Disclosures
Aug 28, 2026
Embassy Developments Limited has issued a corrigendum to its notice convening the 20th Annual General Meeting of shareholders, scheduled for September 8, 2026, to be held via video conferencing and other audio-visual means. The corrigendum updates...
Embassy Developments Sets Virtual AGM, Establishes Record Date for Shareholder Participation
Aug 16, 2026
Embassy Developments Limited has scheduled its 20th Annual General Meeting for September 8, 2026, at 11:30 A.M. IST, to be conducted via video conferencing and other audio-visual means without physical shareholder attendance in line with Indian co...
Embassy Developments posts Q1 FY27 earnings call transcript for investors
Aug 16, 2026
Embassy Developments Limited has released the official transcript of its Q1 FY27 earnings conference call, held on August 11, 2026, to discuss operational and financial performance for the quarter ended June 30, 2026. The disclosure, made in line ...
Embassy Developments Sets Virtual 20th AGM for September 8, 2026
Aug 16, 2026
Embassy Developments Limited has scheduled its 20th Annual General Meeting for September 8, 2026, at 11:30 a.m. IST, to be conducted via video conferencing and other audio-visual means in line with Indian company law and SEBI listing regulations. ...
Embassy Developments sets earnings call to present Q1 FY2027 performance
Aug 6, 2026
Embassy Developments Limited has scheduled an earnings conference call on August 11, 2026, at 11:00 a.m. IST to discuss its operational and financial performance for the quarter ended June 30, 2026, coinciding with board consideration of its unaud...
Embassy Developments Promoter Group Frees Major Block of Pledged Shares
Jul 31, 2026
Embassy Developments Limited has disclosed that its promoter group entity, Embassy Property Developments Private Limited, has released a pledge on 33,634,560 equity shares held in the company. This follows earlier releases of pledges on a total of...
Embassy Developments Plans Mumbai Analyst Meet Under SEBI Disclosure Norms
Jul 6, 2026
Embassy Developments Limited has announced that its officials will meet analysts and institutional investors in a non-deal roadshow organized by JM Financial in Mumbai on July 9, 2026, starting at 10:30 a.m. The company has clarified that discussi...
Embassy Developments Boosts NCD Programme to INR 1,570 Crore
Jul 6, 2026
Embassy Developments Limited has obtained board committee approval to expand its planned non-convertible debenture programme from up to INR 400 crore to as much as INR 1,570 crore via private placement. The debentures will be senior, secured, rede...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.