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Emergent Industrial Solutions financials and balance sheet

BSE: 506180Metals & Minerals TradingSmall Cap

Last close ₹482.80up ₹7.80 (1.64%)

Share price at the BSE close on 23 Oct 2026. Previous close ₹475.00.

52-week range of traded prices to 23 Oct 2026
₹314.70Low, 9 Mar 2026₹747.70High, 28 Oct 2025
Market cap
₹221 Cr2,400th largest listed
P/E
143.5
P/B
7.6
Dividend yield
Nonein the last 12 months
ROE
5.4%
ROCE
12.9%
Debt to equity
0.00
Volume, BSE
11

10 years at a glance

Consolidated: the company and its subsidiaries together. ₹ crore, years to March.Emergent Industrial Solutions annual reports

Revenue, net profit and borrowings, ₹ crore

  • Revenue
  • Net profit
  • Borrowings
Peak revenue ₹797 Cr, year to Mar 2025

Operating and net margin, per cent

  • Operating margin
  • Net margin

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

  1. Revenue432
  2. Materials and goods−424
  3. Employee costs−3.1
  4. Other expenses−3.8
  5. Operating profit0.8
  6. Depreciation−0.2
  7. Other income+2.6
  8. One-off items0.0
  9. Finance costs−1.5
  10. Profit before tax1.7
  11. Tax−0.4
  12. Net profit1.3

What the company owns

  • Receivables₹18 Cr
  • Plant, investments and other assets₹9 Cr
  • Cash and bank₹3 Cr
  • Current investments₹1 Cr

What pays for it: net worth and liabilities

  • Net worth₹29 Cr
  • Other liabilities₹2 Cr

Profit and loss

Consolidated, ₹ crore, years to March.Emergent Industrial Solutions quarterly results

₹ croreMar 2017Mar 2018Mar 2019Filed 11 JunMar 2020Filed 11 JulMar 2021Filed 5 JulMar 2022Filed 10 JunMar 2023Filed 29 MayMar 2024Filed 3 AugMar 2025Filed 13 JunMar 2026Filed 21 Jul
Revenue from operations0093166514105151357797432
1194166513106152356789431
Materials and goods bought––93165512104150352771424
Employee costs––11111243
Other expenses––111111154
Operating profit before depreciation00−2−11−1−2181
Operating margin−347.3%−417.8%−2.0%−0.3%0.2%−1.3%−1.3%0.4%1.0%0.2%
Materials, % of revenue––100.3%99.4%99.6%99.3%99.8%98.6%96.7%98.2%
Employee costs, % of revenue––0.6%0.5%0.1%0.8%0.9%0.6%0.4%0.7%
Other expenses, % of revenue––1.0%0.5%0.1%1.1%0.5%0.4%1.8%0.9%
Depreciation and amortisation0000000000
Operating profit after depreciation00−2−11−1−2181
Other income1131534223
Finance costs0000000142
One-off items0000000000
Profit before tax1011622252
0000100110
0010411241
Other comprehensive income––00000000
Total comprehensive income––10411241
Net margin305.4%266.4%0.6%0.3%0.8%1.3%0.9%0.5%0.5%0.3%
Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ croreMar 2019Filed 11 JunMar 2020Filed 11 JulMar 2021Filed 5 JulMar 2022Filed 10 JunMar 2023Filed 29 MayMar 2024Filed 3 AugMar 2025Filed 13 JunMar 2026Filed 21 Jul
1515202122242829
Share capital55555555
Reserves1011151618192325
Borrowings00000000
213281815666252
Liabilities due after a year00000000
Total assets36344373629905331
00011022
35343373528905030
Net debt−24−15−6−6−12−28−15−5
Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ croreMar 2021Filed 5 JulMar 2022Filed 10 JunMar 2023Filed 29 MayMar 2024Filed 3 AugMar 2025Filed 13 JunMar 2026Filed 21 Jul
0.0−2.0−1.14.7−7.9−12.9
3.1−1.51.92.0−6.5−12.1
−2.6−1.4−0.11.3−10.0−12.1
Receivables−0.10.10.0−15.03.5−6.6
Inventories−3.80.58.3−40.926.915.8
Payables−6.69.9−4.920.5−17.4−8.5
Other working capital7.8−11.8−3.436.6−23.0−12.8
Tax paid−1.3−0.5−0.72.7−1.3−0.8
Capital spending0.10.10.10.00.50.0
Free cash flow−0.2−2.1−1.24.6−8.3−12.9
−5.41.410.33.1−8.212.5
Cash from financing0.00.00.00.00.00.0
Dividends paid0.00.00.00.00.00.0
Shares bought back0.00.00.00.00.00.0
Shares issued0.00.00.00.00.00.0
Net change in cash−5.4−0.69.27.8−16.0−0.4
Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Per share

Consolidated, ₹ per share, years to March.

₹ per shareMar 2017Mar 2018Mar 2019Filed 11 JunMar 2020Filed 11 JulMar 2021Filed 5 JulMar 2022Filed 10 JunMar 2023Filed 29 MayMar 2024Filed 3 AugMar 2025Filed 13 JunMar 2026Filed 21 Jul
Earnings per share₹0.75₹0.62₹1.14₹0.99₹9.15₹2.97₹3.05₹3.75₹8.27₹2.79
Diluted earnings per share₹0.75₹0.62₹1.14₹0.99₹9.15₹2.97₹3.05₹3.75₹8.27₹2.79
Book value per share––₹32.57₹33.53₹42.74₹45.67₹48.74₹52.53₹60.78₹63.65
Shareholder yield––––––0.0%–0.0%0.0%
Market cap at the year end (₹ crore)58585948––42–156218

Ratios

Consolidated, years to March.Emergent Industrial Solutions PE ratio and valuation

RatioMar 2017Mar 2018Mar 2019Filed 11 JunMar 2020Filed 11 JulMar 2021Filed 5 JulMar 2022Filed 10 JunMar 2023Filed 29 MayMar 2024Filed 3 AugMar 2025Filed 13 JunMar 2026Filed 21 Jul
Revenue growth−13.2%−4.5%86,481.7%79.0%210.0%−79.6%43.7%137.3%123.0%−45.8%
Operating profit growth––––––––455.3%−89.2%
Net profit growth–−16.7%83.5%−13.1%820.1%−67.6%2.8%22.8%120.5%−66.3%
Earnings per share growth–−17.3%83.9%−13.2%824.2%−67.5%2.7%23.0%120.5%−66.3%
––3.5%3.0%24.0%6.7%6.5%7.4%14.6%4.5%
–––−0.5 pts21.0 pts−17.3 pts−0.2 pts0.9 pts7.2 pts−10.1 pts
From the net margin–––−1.8 pts5.9 pts14.2 pts−1.9 pts−3.1 pts−0.1 pts−5.5 pts
From asset turnover–––−1.1 pts18.6 pts2.5 pts3.0 pts1.0 pts6.3 pts−0.7 pts
From borrowing–––2.4 pts−3.6 pts−34.0 pts−1.4 pts3.1 pts1.0 pts−3.9 pts
Return on capital employed––−12.2%−3.8%4.5%−6.6%−9.0%5.5%27.6%2.3%
Cash conversion––––−0.7%−147.3%−78.2%271.7%−208.0%−1,014.3%
Interest cover––––2.4––1.81.80.4
Debt to equity––0.000.000.000.000.000.000.000.00
Receivable days––0000015515
Inventory days––411583554470
Payable days––5315036132740
Cash conversion cycle, days––−1207−1−833915
Working capital days––−37195023−5519
Asset turnover––2.610.872.702.874.676.0111.1410.25
Assets per rupee of net worth––2.3912.5610.931.811.492.572.761.48
Sales per rupee of plant––3,296.881,901.253,120.29504.25745.252,520.941,516.161,160.59
Capital spending to depreciation––––2.291.700.940.254.510.12
Plant being built, % of plant in use––0.0%0.0%0.0%0.0%–0.0%0.0%0.0%
Interest cover is left blank for the years to Mar 2017, Mar 2019, Mar 2020, Mar 2022 and Mar 2023: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year
3.0%
Cash from operations against operating profit
−1,548.1%
Measure10 years5 years3 years
Revenue growth, yearly rate125.2%−3.4%42.1%
Profit growth, yearly rate–−21.1%−3.0%
Return on equity, average–7.9%8.8%
Return on capital employed, average–3.9%11.8%
Operating margin, average−76.8%−0.2%0.5%
Net margin, average57.7%0.7%0.4%
Asset turnover, average–6.999.13
Cash conversion cycle, days, average–1019
Interest cover, average––1.3
Debt to equity, average–0.000.00

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore5 years3 yearsLatest year
Cash from operations−19.2−16.1−12.9
Cash from investing19.27.512.5
Cash from financing0.00.00.0
Capital spending0.70.50.0
Dividends paid0.00.00.0
Shares bought back0.00.00.0
Shares issued for cash0.00.00.0
Borrowings raised0.00.00.0
Borrowings repaid0.00.00.0

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

CheckMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9––––365743
Altman Z-scorePublished threshold 1.81––5.32–––––20.6171.82
Beneish M-scorePublished threshold −1.78–––––−4.79––3.121.75
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets––––5.055.43−24.38−10.2327.733.93
Cash from operations to profit, 3 yearsPublished threshold 0.7 times––––––−0.450.35−0.62−2.38
Receivables growth less revenue growthOur threshold 0 percentage points–––––−20.38––−146.40103.59
Inventory growth less cost-of-goods growthOur threshold 0 percentage points–––−112.27−155.6275.09−126.062,063.05−181.78−55.02
Other current assets growth less revenue growthOur threshold 5 per cent of revenue–––190.89−60.73−1.030.12−0.14−0.07−0.26
Assets under construction, years of additionsOur threshold 2 years of additions–––0.000.000.00–0.000.000.00
Effective tax ratePublished threshold 17.16 per cent32.2132.9444.5625.2125.8126.7225.1429.5527.4324.75
Tax charged less tax paid, % of profitOur threshold 10 percentage points–––––2.39−13.84−80.761.71−21.62
A threshold marked as ours has no published figure; it is the line we read the check against.