Want to see IN:EMKAY full AI Analyst Report?
Top Page
Emkay Global Financial Services Limited
(EMKAY)
Select Model
Select Model
Rating:58Neutral
Price Target:
₹301.00
▲(24.90% Upside)
Action:Reiterated
Date:09/29/26
The score is primarily driven by mixed financial performance: strong recent revenue growth and low leverage are offset by sharp margin/ROE deterioration and historically volatile cash flows. Technicals are supportive due to an ongoing uptrend, but overbought signals temper the near-term outlook. Valuation is the main headwind given the high P/E and low dividend yield.
Positive Factors
Strong FY2026 Revenue Growth
The sharp FY2026 revenue increase indicates strong recent demand for EMKAY’s capital-markets, brokerage, research, and advisory activities. If sustained, this expansion can broaden client reach, improve operating scale, and support stronger earnings capacity over the next several quarters.
Negative Factors
Sharp Margin Compression
The steep decline in net margin shows that strong revenue growth has not translated proportionately into profit. Persistent operating or mix pressure would reduce earnings quality, limit the benefits of scale, and make future results more sensitive to changes in capital-markets activity.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong FY2026 Revenue Growth
The sharp FY2026 revenue increase indicates strong recent demand for EMKAY’s capital-markets, brokerage, research, and advisory activities. If sustained, this expansion can broaden client reach, improve operating scale, and support stronger earnings capacity over the next several quarters.
Read all positive factors
Emkay Global Financial Services Limited (EMKAY) vs. iShares MSCI India ETF (INDA)
Market Cap
₹7.38B
Dividend Yield0.52%
Average Volume (3M)1.98K
Price to Earnings (P/E)38.9
Beta (1Y)0.72
Revenue Growth18.60%
EPS Growth-61.27%
CountryIN
Employees470
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)7.43
Shares Outstanding27,330,132
10 Day Avg. Volume2,411
30 Day Avg. Volume1,977
Financial Highlights & Ratios
PEG Ratio-0.43
Price to Book (P/B)1.27
Price to Sales (P/S)1.22
P/FCF Ratio1.57
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
Emkay Global Financial Services Limited Business Overview & Revenue Model
Company Description
Emkay Global Financial Services Limited, an Indian firm headquartered in Mumbai, was founded in 1995. Through its various subsidiaries, the company provides a comprehensive range of financial services across India, encompassing stock brokerage, in...
How the Company Makes Money
EMKAY primarily generates revenue from fees and commissions linked to capital-markets intermediation and advisory services. Key revenue streams typically include: (1) Brokerage and transaction-based income: commissions/fees earned when clients (re...
Emkay Global Financial Services Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
72
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.08B | 3.96B | 3.17B | 2.70B | 1.95B | 2.56B |
| Gross Profit | 2.55B | 2.79B | 1.04B | 668.71M | 512.43M | 1.26B |
| EBITDA | 453.04M | 347.51M | 769.90M | 556.69M | 240.65M | 552.82M |
| Net Income | 195.25M | 152.01M | 568.31M | 324.39M | 140.76M | 338.04M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 17.40B | 12.33B | 10.65B | 7.31B | 7.64B |
| Cash, Cash Equivalents and Short-Term Investments | 0.00 | 13.94B | 10.05B | 8.07B | 4.20B | 4.76B |
| Total Debt | 0.00 | 1.00B | 551.45M | 417.18M | 375.70M | 263.32M |
| Total Liabilities | -3.81B | 13.59B | 9.30B | 8.24B | 5.21B | 5.63B |
| Stockholders Equity | 3.81B | 3.81B | 3.03B | 2.41B | 2.10B | 2.01B |
Cash Flow | ||||||
| Free Cash Flow | -220.73M | 3.08B | -89.52M | 135.22M | -712.57M | 549.34M |
| Operating Cash Flow | -175.44M | 3.17B | -20.90M | 221.69M | -634.19M | 597.42M |
| Investing Cash Flow | -80.15M | -4.11B | -101.47M | -62.36M | 50.73M | -40.20M |
| Financing Cash Flow | -76.21M | 948.55M | 108.77M | 24.10M | -69.00M | -72.85M |
Emkay Global Financial Services Limited Technical Analysis
Positive
241.00
Price Trends
247.23
Positive
250.53
Positive
246.82
Positive
Market Momentum
6.82
Negative
72.58
Negative
84.92
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EMKAY, the sentiment is Positive. The current price of 241 is below the 20-day moving average (MA) of 258.46, below the 50-day MA of 247.23, and below the 200-day MA of 246.82, indicating a bullish trend. The MACD of 6.82 indicates Negative momentum. The RSI at 72.58 is Negative, neither overbought nor oversold. The STOCH value of 84.92 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:EMKAY.
Emkay Global Financial Services Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹28.70B | 15.32 | ― | 0.28% | 7.26% | 13.10% | |
74 Outperform | ₹22.70B | 30.12 | ― | 1.91% | -4.13% | -52.99% | |
72 Outperform | ₹45.82B | 12.43 | ― | 0.87% | 14.54% | 14.60% | |
64 Neutral | ₹17.94B | 15.71 | ― | 1.24% | 12.02% | -11.03% | |
62 Neutral | ₹263.24B | 24.59 | ― | 1.81% | 9.28% | 3.02% | |
58 Neutral | ₹7.38B | 38.86 | ― | 0.52% | 18.60% | -61.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:EMKAY
Emkay Global Financial Services Limited
289.15
-38.31
-11.70%
IN:ANGELONE
Angel One Limited
279.20
70.77
33.95%
IN:GEOJITFSL
Geojit Financial Services Ltd
78.45
1.91
2.50%
IN:MONARCH
Monarch Networth Capital Limited
350.90
32.32
10.14%
IN:SHAREINDIA
Share India Securities Ltd
206.50
78.49
61.31%
IN:SMCGLOBAL
SMC Global Securities Ltd. (India)
97.18
28.87
42.25%
Emkay Global Financial Services Limited Corporate Events
Emkay Global secures NSE, BSE nod for promoter warrant conversion
Sep 25, 2026
Emkay Global Financial Services has received trading approvals from the National Stock Exchange of India and BSE Limited for 50,000 equity shares issued to promoter Prakash Kacholia upon conversion of preferential warrants. The shares will be admi...
Emkay Global Boosts Equity Capital With Fresh Promoter Warrant Conversion
Sep 21, 2026
Emkay Global Financial Services has increased its equity base through the allotment of 100,000 shares following the conversion of warrants by promoter Prakash Kacholia. The move, approved by the management committee on September 21, 2026, lifts th...
Emkay Global Seeks Shareholder Nod for Appointment of Independent Director via Postal Ballot
Sep 10, 2026
Emkay Global Financial Services Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Mr. Rajesh Shah as a Non-Executive Independent Director for a five-year term starting 19 August 2026. The company is ...
Emkay Global Clears INR 50 Crore NCD Issue with BSE Listing Plan
Aug 21, 2026
Emkay Global Financial Services Limited’s management committee has approved a private placement of up to 5,000 rated, listed, senior, unsecured, transferable, redeemable, taxable non-convertible debentures with a face value of INR 1,00,000 e...
Emkay Global boosts equity capital through promoter warrant conversion
Aug 21, 2026
Emkay Global Financial Services has increased its equity base by allotting 50,000 new shares to promoter Prakash Kacholia following the conversion of an equivalent number of warrants. The shares, issued at a balance subscription price of Rs 179.62...
Emkay Global Plans NCD Issue, Closes Trading Window Ahead of Committee Meet
Aug 18, 2026
Emkay Global Financial Services Limited has scheduled a meeting of its Management Committee on August 21, 2026 to consider and approve the issuance of non-convertible debentures on a private placement basis. The planned debenture issue underscores...
Emkay Global’s Independent Director Dr. Satish Ugrankar Steps Down After Completing Term
Aug 9, 2026
Emkay Global Financial Services has announced that independent director Dr. Satish Ugrankar has completed his second consecutive five-year term on the company’s board as of August 9, 2026. With the end of his tenure, he has stepped down from...
Emkay Global announces completion of independent director’s tenure
Aug 9, 2026
Emkay Global Financial Services has announced that Dr. Satish Ugrankar has completed his second consecutive five-year term as a non-executive independent director, effective 9 August 2026. With the end of his tenure, he also steps down as chairper...
Emkay Global Closes Trading Window Ahead of June Quarter Results
Jun 29, 2026
Emkay Global Financial Services Limited has announced the closure of its trading window for company securities from July 1, 2026, in line with SEBI’s Prohibition of Insider Trading Regulations and its own insider trading policy. The blackout...
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.