IEML

Indian Emulsifiers Limited

Listed company · ISIN INE0RRU01016 · NSE ST · FV ₹10
Last price
₹44
+4.99%today
What this company does

Indian Emulsifiers Limited is a listed company. It booked ₹83 cr of revenue in its latest half year (H2 FY26) and kept 7.2% of sales as profit.

52out of 100
Equitytale Health Score
Mixed

Healthier than 52% of listed companies we score, on the 5 of 6 measures we could read for it. Each measure is ranked against the 2,330–2,864 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
59

At close. Not part of the score.

Profitability & returns41

How much profit it earns on the money it employs

Balance sheet50

How much it owes, and whether earnings cover the interest

Cash quality12

Whether reported profit actually arrives as cash

Valuation92

What today's price implies, against our models or its peers

Governance & risk86

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
A mixed picture
Strengths
Makes a profit
No promoter shares pledged
Watch-outs
! Thin 7.2% net margin

What if I invest in IEML?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest half year + price
₹44 +4.99%
latest close · 2026-09-22
52-wk low ₹3845 sessions so far52-wk high ₹46
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio5.5Low
LowAverageHigh
P/B ratio0.55Below book
Below bookModerateHigh
EV / EBITDA5.9Low
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.1%Fair
WeakFairStrong ▸15%
Return on capital10.8%Fair
WeakFairStrong
Net margin7.2%Decent
ThinDecentStrong
EBITDA margin13.1%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.37Comfortable
LowModerateHigh ▸1
Interest cover5.1×Strong
RiskyOkayStrong ▸5×
Current ratio2.55Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹81 cr
Book value
₹80
EPS
₹3.99
latest half year
Net debt
₹47 cr
owes more than its cash
Enterprise value
₹128 cr
EBITDA
₹22 cr
annualised
EBIT
₹19 cr
annualised
Operating margin
11.3%
Return on assets
5.1%
Earnings yield
18.07%
P/S
0.49
Sales / share
₹90.4
Tax rate
20.5%
Face value
₹10
Shares
1.8 cr
Working capital
₹96 cr
Current assets
₹157 cr
Current liabilities
₹62 cr
Delivery %
92.0%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest half year; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-22.

Worth vs price · from the exchange filings
not investment advice
Hard to value confidentlyLow confidence
It earns about 14% on its capital — below the ~14% return we'd require to fund it — so a low price is likely justified, not a bargain.
Models span ₹57₹57, midpoint ₹57

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · H2 FY26 (consolidated)
Revenue from Operations₹83 cr
Other Income₹11.5 L
Total Income₹83 cr
Cost of Materials₹65 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹15 L
Employee Benefit Expense₹24.3 L
Finance Costs₹2 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹7 cr
Total Expenses₹75 cr
Profit before Tax₹8 cr
Tax Expense₹2 cr
Net Profit₹6 cr
Net margin on total income7.2%
Where the money goes · H2 FY26
% of total income
Materials + stock-in-trade₹65 cr78.5%
Employee benefit expense₹24.3 L0.3%
Finance costs₹2 cr2.2%
Depreciation & amortisation₹2 cr1.8%
Other expenses₹7 cr8.1%
Tax expense₹2 cr1.9%
Profit for the period₹6 cr7.2%
Total income ₹83 cradds up to ₹100 ✓
Half-yearly results · consolidated (₹ cr)
MetricH1 FY26H2 FY26
Revenue77 cr83 cr
Total income77 cr83 cr
Expenses65 cr75 cr
Profit before tax12 cr8 cr
Tax2 cr2 cr
Net profit (owners' share)10 cr6 cr
Net margin (owners' share, on revenue)13.3%7.2%
EPS (₹)8.403.99
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹235 cr
Shareholder equity
₹147 cr
parent shareholders
Total debt
₹55 cr
Cash
₹8 cr
Who owns it · 2026-03-31
No pledge
Promoter
32.6%
FII / Foreign
2.0%
DII / Domestic
3.3%
Retail / others
62.1%
Promoter stake down 15.5% over the last 4 quarters.
Smart-money activity
Bulk / block deals
SoldNIRAJ UMESH JOSHI · NSE1.07 L @ ₹40.1712 Aug 26
Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 7 named members
owning 32.6% between them · as of 2026-03-31
YASH TIKEKAR32.64%
ANJALI SUNIL TIKEKARno shares
KAILASH LUTHRAno shares
NATASHA BALMUKAND LUTHRAno shares
NEETU B LUTHRAno shares
NITIN BALMUKAND LUTHRAno shares
SUNIL VASANT TIKEKARno shares
Business done with them
FY2025 · 2 of the group
The company paid ₹62.4 L to companies in the promoter group last year — about 0.6% of its ₹101 cr revenue and received ₹57.2 L back from them.
YST Life Sciences Private Limited
Bought goods from them · As per below table
₹58.6 L
company paid
YST Life Sciences Private Limited
Sold goods to them · As per below table
₹57.2 L
company received
YST Surfactants Private Limited
Bought goods from them · As per below table
₹3.7 L
company paid

The company also transacted with 1 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹49 cr raised in Nov 2025 by offering new shares to existing shareholders

As of Mar 2026, the company says it has spent 94% of what it set aside, leaving ₹3 cr still to be spent. Infomerics Valuation and Rating Limited watches the spending on the exchange’s behalf.

To meet incremental working capital requirements
100%
₹19 cr of ₹19 cr
Funding capital expenditure requirements for construction of new factory premises
76%
₹5 cr of ₹6 cr
Funding capital expenditure requirements for the purchase of equipment/ machineries
93%
₹11 cr of ₹11 cr
General Corporate Purposes
100%
₹11 cr of ₹11 cr
Issue related expense
60%
₹90 L of ₹2 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.