Emkay Global Financial Services Ltd

Emkay Global Financial Services Ltd

₹ 156 0.27%
03 Jul 11:38 a.m.
About

Incorporated in 1995, Emkay Global Financial Services Ltd is in the business of providing
capital market services[1]

Key Points

Business Overview:[1][2][3]
EGFSL is a 360 degree financial services provider of institutional broking, asset management, wealth/ portfolio management, succession planning, investment banking, currency, depository participant, equity
broking, commodity broking, distribution
of financial products and investment banking operations. It has 300+ clients. In FY23, company's PMS+AIF AUMs stood at Rs. 5,984 Mn. and Wealth AUMs at Rs. ** 2,348 Mn.**

  • Market Cap 384 Cr.
  • Current Price 156
  • High / Low 198 / 72.8
  • Stock P/E 15.5
  • Book Value 70.2
  • Dividend Yield 0.64 %
  • ROCE 20.7 %
  • ROE 15.3 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 32.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.5%

Cons

  • Company has a low return on equity of 10.7% over last 3 years.
  • Contingent liabilities of Rs.382 Cr.
  • Promoters have pledged 26.4% of their holding.
  • Earnings include an other income of Rs.30.8 Cr.
  • Company has high debtors of 175 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
43.57 44.04 47.36 47.02 39.96 47.56 50.86 49.71 39.69 40.27 63.49 69.09 80.02
36.55 34.65 38.58 38.57 43.58 40.29 44.15 44.43 50.32 49.06 58.19 58.00 69.36
Operating Profit 7.02 9.39 8.78 8.45 -3.62 7.27 6.71 5.28 -10.63 -8.79 5.30 11.09 10.66
OPM % 16.11% 21.32% 18.54% 17.97% -9.06% 15.29% 13.19% 10.62% -26.78% -21.83% 8.35% 16.05% 13.32%
4.11 0.27 1.25 1.21 6.33 1.09 1.15 1.39 7.97 7.04 7.34 8.00 8.39
Interest 0.67 0.67 4.17 0.70 0.63 0.63 1.05 1.47 1.28 0.69 1.48 1.84 2.11
Depreciation 1.98 1.85 1.86 1.78 1.85 1.94 2.20 2.35 2.35 1.92 2.00 2.39 2.59
Profit before tax 8.48 7.14 4.00 7.18 0.23 5.79 4.61 2.85 -6.29 -4.36 9.16 14.86 14.35
Tax % 20.28% 22.13% 36.25% 47.35% -517.39% 41.62% 18.66% -153.33% 40.70% 1.83% 18.23% 17.03% 37.77%
6.77 5.56 2.55 3.78 1.43 3.38 3.75 7.23 -3.73 -4.28 7.50 12.32 8.93
EPS in Rs 2.75 2.26 1.04 1.53 0.58 1.37 1.52 2.93 -1.51 -1.74 3.04 4.99 3.62
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
79 67 104 95 97 133 128 119 141 180 188 252
74 65 77 76 79 103 110 123 122 155 177 234
Operating Profit 5 2 27 19 17 29 18 -4 19 25 11 18
OPM % 6% 4% 26% 20% 18% 22% 14% -4% 13% 14% 6% 7%
0 1 -36 0 -3 0 -0 0 3 4 10 31
Interest 3 4 3 2 2 2 3 6 3 3 4 6
Depreciation 5 4 4 4 4 5 7 8 7 7 9 9
Profit before tax -3 -5 -16 13 7 23 7 -18 11 19 7 34
Tax % -145% -1% 1% 24% 38% 21% 31% 30% 30% 28% -53% 28%
-8 -5 -16 10 5 18 5 -13 8 13 11 24
EPS in Rs -3.23 -2.13 -6.52 4.01 1.89 7.31 2.01 -5.11 3.25 5.41 4.31 9.91
Dividend Payout % 0% 0% 0% 25% 53% 27% 50% 0% 31% 23% 23% 15%
Compounded Sales Growth
10 Years: 14%
5 Years: 15%
3 Years: 21%
TTM: 34%
Compounded Profit Growth
10 Years: 21%
5 Years: 32%
3 Years: 53%
TTM: 113%
Stock Price CAGR
10 Years: 15%
5 Years: 16%
3 Years: 20%
1 Year: 110%
Return on Equity
10 Years: 8%
5 Years: 6%
3 Years: 11%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 24 24 24 24 24 25 25 25 25 25 25 25
Reserves 103 98 82 89 94 110 110 96 106 120 127 149
39 27 21 9 29 10 12 10 7 33 18 51
61 97 83 82 108 158 135 216 381 511 482 765
Total Liabilities 228 247 210 205 255 302 281 346 518 688 651 990
42 39 36 34 35 32 35 38 34 31 37 37
CWIP 0 0 0 0 0 0 0 0 0 2 0 0
Investments 34 35 35 36 34 41 49 49 62 73 54 57
151 173 140 135 186 229 196 259 422 582 560 896
Total Assets 228 247 210 205 255 302 281 346 518 688 651 990

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-32 20 3 36 -17 36 18 58 91 35 -69 -17
11 0 2 -0 -2 -4 -11 -10 -1 -2 34 4
22 -16 -10 -16 18 -25 -9 -14 -16 -8 -10 24
Net Cash Flow 1 5 -4 19 -1 6 -2 34 73 25 -45 11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 106 201 142 70 243 241 163 160 167 175 200 175
Inventory Days
Days Payable
Cash Conversion Cycle 106 201 142 70 243 241 163 160 167 175 200 175
Working Capital Days 102 52 -56 -190 -111 -173 -193 -429 -665 -565 -453 -576
ROCE % 0% -1% 16% 12% 10% 17% 9% -8% 10% 12% 7%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.55% 74.51% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.49% 74.34%
0.00% 0.48% 0.78% 0.83% 0.81% 0.76% 0.76% 0.76% 0.76% 0.77% 0.76% 1.17%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.07%
25.45% 25.01% 24.73% 24.69% 24.70% 24.75% 24.75% 24.75% 24.74% 24.74% 24.74% 24.41%
No. of Shareholders 9,94716,13515,45015,35015,76816,04215,52714,92214,75313,59312,96111,766

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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