Emami Limited (EMAMILTD)

Fast Moving Consumer Goods · Personal Products · NSE · Updated 4 August 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹391.8 ↓ 35.93% (1Y)

🎯 Key Takeaways

Emami Limited is navigating a phase of strategic transformation amid macroeconomic headwinds, shifting from modest growth in legacy FMCG categories to emerging high-margin ventures. While revenue growth has shown signs of recovery, profitability remains pressured by input costs and international volatility.
Revenue grew 17.8% QoQ to ₹1,049 in Q3FY25.
⚠️ 1) Margin compression from sustained input cost inflation remains a structural risk, with management acknowledging 360 bps of pressure in Q1FY2

Market Cap

₹18,684

P/E Ratio

23.6

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Emami Limited is navigating a phase of strategic transformation amid macroeconomic headwinds, shifting from modest growth in legacy FMCG categories to emerging high-margin ventures. While revenue growth has shown signs of recovery, profitability remains pressured by input costs and international volatility. Management is actively repositioning the portfolio around digital-first and Ayurvedic innovation, signaling a deliberate pivot toward sustainable, long-term value creation rather than short-term volume gains.

📰 What's Happening

In Q1FY27, Emami reported consolidated revenue of ₹1,039 crore, up 15% YoY, driven by 20% growth in domestic business and 11% growth in hair and scalp care. EBITDA rose 6% to ₹226 crore despite a 360 bps gross margin compression to 65.8% due to elevated input costs. Strategic investments in Axiom Ayurveda and IncNut now contribute 18% of domestic business, emerging as key growth engines. International revenue declined 12% due to West Asia disruptions, but management remains confident in Q2FY27 momentum, citing resilient demand and continued expansion in strategic investment businesses.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	836	826	865	996	891	906	891	1,049
Operating Profit	214	198	245	326	222	227	272	354
OPM %	23.9%	23.0%	27.0%	31.6%	23.7%	23.9%	28.1%	32.3%
Net Profit	142	137	180	261	147	151	211	279
EPS	₹3.27	₹3.13	₹4.09	₹5.92	₹3.41	₹3.50	₹4.87	₹6.39

Revenue growth has accelerated from flatlined FY24 trends, with Q1FY27 marking the strongest YoY growth in recent quarters, supported by domestic demand and new-age channels. However, operating margins remain under pressure, with EBITDA growth lagging revenue expansion due to margin compression. The company’s profitability trajectory reflects a deliberate trade-off: investing in strategic growth areas while managing cost inflation, indicating a reinvestment phase rather than margin-driven earnings recovery.

🔮 Management Outlook & What's Next

Management expects Q2FY27 to benefit from healthy demand trends and continued momentum in strategic investment businesses, particularly in digital and Ayurvedic segments. They highlighted commodity inflation and geopolitical developments as key monitorables, but expressed confidence in sustained growth momentum. No formal long-term guidance was provided, but the tone remains cautiously optimistic, anchored in resilient consumer demand and ongoing portfolio transformation.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Personal Products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Godrej Consumer Products Limited	1.06 L Cr	-234.6	—	—	—
Dabur India Limited	82,955	46.1	—	—	—
Colgate Palmolive (India) Limited	58,749	44.3	—	—	—
Procter & Gamble Hygiene and Health Care Limited	31,506	36.7	—	—	—
Gillette India Limited	25,438	41.0	—	—	—
Emami Limited	18,684	23.6	—	—	—
Cupid Limited	16,184	668.7	—	—	—
Honasa Consumer Limited	11,518	145.1	—	—	—
Bajaj Consumer Care Limited	7,020	58.5	—	—	—
JHS Svendgaard Laboratories Limited	80	-5.8	—	—	—

🔗 Peer Stock Analyses

GODREJCP DABUR COLPAL PGHH GILLETTE

⚠️ Risk Factors

1) Margin compression from sustained input cost inflation remains a structural risk, with management acknowledging 360 bps of pressure in Q1FY27. 2) International exposure to West Asia continues to create volatility, as evidenced by 12% revenue decline in the latest quarter. 3) The growth contribution from strategic investments, while promising at 18% of domestic business, is still nascent and unproven at scale. 4) Summer category drag and channel softness in prior quarters highlight execution risks in core branded business despite management’s optimism.

📋 Recent Filings

🧠 Analyst's Read

Emami is executing a clear but early-stage transformation, betting on strategic investments to offset softness in traditional categories. While recent revenue growth is encouraging, margin resilience and scalable profitability from new ventures remain key watchpoints. Investors should monitor Q2FY27 execution, commodity trends, and the pace of contribution from Axiom and IncNut in the coming quarters.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-04.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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