Emami

₹518.9 -3.6 | 0.7%

WEBSITE BSE:531162 NSE : EMAMI LTD. 13 May, 15:59

Market Cap ₹22650 Cr.

Stock P/E 31.6

P/B 8.5

Current Price ₹518.9

Book Value ₹ 61.1

Face Value 1

52W High ₹588.7

Dividend Yield 1.54%

52W Low ₹ 371

Edit Ratio

Emami Research see more...

Overview Inc. Year: 1995Industry: Household & Personal Products

Emami Ltd is a FMCG company. The Company is engaged in production and advertising personal care and healthcare merchandise. The Company's operating segments are Home Care and Personal. Its portfolio of household brand names which includes Zandu Balm, Navratna, Kesh King, Zandu Pancharishta, Boro Plus, Navratna, Fair and Handsome, fast relief, 7oils in one, Diamond shine, Emami golden beauty, Emami naturally fair, Mentho Plus Balm, Emami Emasol, Creme21 and others. It also offers BoroPlus Hygiene variety, EMASOL Home Hygiene, BoroPlus Organic Aloe Vera Gel, with numerous healthcare products beneath Zandu.

Emami Share Price

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Peer Comparison

Emami Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	787	971	768	773	814	983	836	826	865	996
Other Income	38	17	30	6	42	7	14	8	11	17
Total Income	825	988	798	780	856	990	850	834	876	1013
Total Expenditure	510	630	604	600	618	688	636	636	631	681
Operating Profit	315	358	194	180	237	301	214	198	245	332
Interest	1	2	2	2	2	2	1	2	2	3
Depreciation	84	84	83	88	48	47	64	46	46	46
Exceptional Income / Expenses	0	0	-5	0	0	0	0	0	0	-6
Profit Before Tax	230	272	104	89	188	252	148	150	196	277
Provision for Tax	41	49	-256	12	5	19	6	13	16	15
Profit After Tax	189	223	360	77	182	234	142	137	181	262
Adjustments	-4	-3	-4	-3	2	4	2	0	-2	-3
Profit After Adjustments	185	220	356	74	184	237	144	138	179	258
Adjusted Earnings Per Share	4.2	4.9	8.1	1.7	4.2	5.4	3.3	3.1	4.1	5.9

Emami Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1699	1821	2217	2358	2488	2531	2695	2655	2881	3187	3406	3523
Other Income	56	73	182	109	89	96	35	57	70	95	69	50
Total Income	1755	1894	2400	2468	2577	2627	2730	2712	2951	3282	3475	3573
Total Expenditure	1255	1387	1768	1736	1787	1888	1967	1964	1997	2235	2543	2584
Operating Profit	499	507	632	732	790	739	762	748	953	1048	932	989
Interest	7	5	5	54	58	34	21	21	13	5	7	8
Depreciation	124	35	34	255	309	311	325	336	367	335	247	202
Exceptional Income / Expenses	0	-9	0	0	0	0	-10	-11	0	-5	0	-6
Profit Before Tax	369	457	592	423	424	393	403	374	569	688	670	771
Provision for Tax	54	55	107	60	84	86	101	71	114	-149	42	50
Profit After Tax	315	402	485	363	340	306	303	302	455	837	627	722
Adjustments	0	0	0	0	0	1	1	1	-0	2	12	-3
Profit After Adjustments	315	402	486	364	340	307	303	303	455	839	640	719
Adjusted Earnings Per Share	6.9	8.9	10.7	8	7.5	6.8	6.7	6.7	10.2	19	14.5	16.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	9%	6%	7%
Operating Profit CAGR	-11%	8%	5%	6%
PAT CAGR	-25%	28%	15%	7%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	33%	1%	7%	9%
ROE Average	29%	33%	26%	29%
ROCE Average	29%	31%	26%	31%

Emami Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	777	932	1231	1612	1755	2014	2076	1824	1763	2077	2303
Minority's Interest	0	0	5	4	1	1	-0	-1	-1	-2	10
Borrowings	28	17	2	300	0	0	0	0	0	0	0
Other Non-Current Liabilities	30	34	53	42	65	70	63	64	58	-216	-290
Total Current Liabilities	524	319	387	735	782	714	680	792	700	916	724
Total Liabilities	1360	1302	1676	2692	2603	2798	2819	2678	2520	2774	2746
Fixed Assets	397	396	453	1918	1940	1746	1625	1405	1079	1290	1192
Other Non-Current Assets	88	61	80	269	222	351	344	240	314	411	267
Total Current Assets	875	846	1143	505	441	701	849	1033	1127	1073	1287
Total Assets	1360	1302	1676	2692	2603	2798	2819	2678	2520	2774	2746

Emami Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	276	281	268	350	101	28	16	116	11	20	28
Cash Flow from Operating Activities	323	428	534	562	730	588	554	531	922	644	749
Cash Flow from Investing Activities	-124	-142	-234	-1306	-297	-279	-23	-228	-227	-235	-113
Cash Flow from Financing Activities	-188	-301	-215	502	-496	-324	-428	-405	-688	-402	-608
Net Cash Inflow / Outflow	11	-15	85	-243	-64	-15	103	-102	6	7	28
Closing Cash & Cash Equivalent	281	268	350	101	28	16	116	11	20	28	47

Emami Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	6.93	8.87	10.7	8.01	7.5	6.77	6.68	6.68	10.23	19.02	14.5
CEPS(Rs)	9.67	9.64	11.45	13.61	14.29	13.6	13.83	14.09	18.48	26.55	19.83
DPS(Rs)	8	7	7	7	7	7	4	4	8	8	8
Book NAV/Share(Rs)	17.13	20.53	27.11	35.5	38.66	44.36	45.73	40.24	39.65	47.07	52.2
Core EBITDA Margin(%)	25.59	23.38	19.92	25.97	27.74	25.3	26.99	26.01	30.66	29.88	25.33
EBIT Margin(%)	21.64	24.95	26.48	19.89	19.05	16.8	15.77	14.86	20.21	21.75	19.88
Pre Tax Margin(%)	21.26	24.66	26.25	17.63	16.76	15.45	14.97	14.07	19.75	21.59	19.66
PAT Margin (%)	18.15	21.71	21.51	15.14	13.45	12.05	11.23	11.39	15.79	26.25	18.42
Cash Profit Margin (%)	25.3	23.61	23.03	25.78	25.66	24.29	23.3	24.05	28.52	36.75	25.68
ROA(%)	23.83	30.23	32.6	16.62	12.84	11.34	10.77	11	17.49	31.61	22.73
ROE(%)	42.41	47.08	44.89	25.55	20.2	16.26	14.79	15.5	25.36	43.58	28.65
ROCE(%)	42.77	49.68	53.44	26.87	21.36	18.69	18.77	18.7	29.94	33.04	28.7
Receivable days	22.39	18.85	14.64	17.71	16.45	18.17	25.21	36.05	34.2	31.65	39.41
Inventory Days	23.81	25.12	21.66	21.1	23.8	26.8	28.15	32.06	34.54	37.68	36.74
Payable days	52.68	65.72	78.67	99.31	100	96.16	105.46	128.28	132.6	129.16	125.33
PER(x)	28.89	24.54	46.99	58.11	70.33	78.92	59.88	25.43	47.67	23.55	24.72
Price/Book(x)	11.69	10.59	18.54	13.11	13.65	12.04	8.75	4.22	12.3	9.51	6.87
Dividend Yield(%)	1.33	1.61	0.7	0.75	0.66	0.66	1	2.35	1.64	1.79	2.23
EV/Net Sales(x)	5.25	5.3	10.15	9.2	9.79	9.68	6.7	2.94	7.43	6.24	4.61
EV/Core EBITDA(x)	17.88	19.04	35.61	29.64	30.83	33.14	23.7	10.43	22.46	19	16.85
Net Sales Growth(%)	16.9	7.16	21.78	6.36	5.5	1.7	6.48	-1.48	8.5	10.65	6.86
EBIT Growth(%)	19.45	23.25	29.2	-20.21	1.01	-11.37	-0.48	-7.12	47.55	19.05	-2.33
PAT Growth(%)	21.59	27.88	20.63	-25.21	-6.35	-9.91	-1.23	-0.08	50.41	84	-25.01
EPS Growth(%)	21.6	27.87	20.66	-25.14	-6.36	-9.78	-1.27	0.06	53.03	85.92	-23.77
Debt/Equity(x)	0.15	0.04	0.03	0.42	0.27	0.16	0.05	0.12	0.05	0.13	0.03
Current Ratio(x)	1.67	2.65	2.96	0.69	0.56	0.98	1.25	1.3	1.61	1.17	1.78
Quick Ratio(x)	1.45	2.21	2.63	0.48	0.33	0.71	0.92	1	1.18	0.78	1.32
Interest Cover(x)	57.13	85.93	116.24	8.82	8.3	12.44	19.85	18.78	43.87	136.62	91.58
Total Debt/Mcap(x)	0.01	0	0	0.03	0.02	0.01	0.01	0.03	0	0.01	0

Emami Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	53.86	54.27	54.27	54.27	54.27	54.27	54.52	54.84	54.84	54.84
FII	12.52	12.72	11.47	11.25	11.15	11.01	11.45	11.91	12.86	13.46
DII	25.48	24.32	26.47	27.03	27.02	26.92	26.23	25.21	23.95	22.07
Public	8.14	8.69	7.8	7.46	7.56	7.8	7.8	8.03	8.34	9.63
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	23.94	23.94	23.94	23.94	23.94	23.94	23.94	23.94	23.94	23.94
FII	5.57	5.61	5.06	4.96	4.92	4.86	5.03	5.2	5.61	5.88
DII	11.33	10.73	11.68	11.92	11.92	11.87	11.52	11.01	10.46	9.63
Public	3.62	3.83	3.44	3.29	3.34	3.44	3.42	3.51	3.64	4.2
Others	0	0	0	0	0	0	0	0	0	0
Total	44.45	44.12	44.12	44.12	44.12	44.12	43.91	43.65	43.65	43.65

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 33%
Debtor days have improved from 129.16 to 125.33days.
Company is almost debt free.

Cons

Stock is trading at 8.5 times its book value.

* 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.