eMudhra Limited
NSE: EMUDHRAIT Enabled Services
Share price
₹570.15
+0.04% close of 9 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
73
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹4,717 Cr
P/E ratio
40.6
P/B ratio
5.2
ROCE
15.7%
ROE
12.7%
Dividend yield
0.2%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 29.7% over the past year, and 41.1% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales slipped from 38.5% to 23.4% over the last four years.
Whether it grew faster than its sector
It grew 41.1% a year against a sector median of 14.5% — 26.6 percentage points faster.
Room to re-rate, or risk of de-rating
At 40.6× earnings it costs 1.7× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 39.0×, across 5 companies. It is against its own five-year median of 61.5×, the 14th percentile of its own range.
Whether growth justifies the valuation
Priced at 2.1 times its growth rate, on earnings growth of 19%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| eMudhra Limited — this one | 19%/yr | 40.6× | ₹2.1 |
| L&T Technology Services Limited | 6%/yr | 24.8× | ₹4.1 |
| Inventurus Knowledge Solutions Limited | 30%/yr | 39.0× | ₹1.3 |
| Tata Technologies Limited | -1%/yr | 43.1× | — |
| Netweb Technologies India Limited | 64%/yr | 99.7× | ₹1.6 |
| SAGILITY LIMITED | 86%/yr | 19.7× | ₹0.23 |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (IT Enabled Services), it ranks 22 of 58 on returns, 10 of 54 on growth, 10 of 58 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A narrow advantage: it earns 15.7% on capital, ahead of 62% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years it made ₹364 crore of cash from the business but spent ₹452 crore on plant and equipment, ₹88 crore more than it made; the gap was from shareholders — borrowings did not rise. And the profit is real: of every 100 rupees it reported over 8 years, about 102 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being waiting 15 days for its cash to waiting 88 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
7 of 9 checks clear · 78%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Announced 29 Jul 2026 · Consolidated
Revenue
₹191 Cr
Revenue vs last year
+29.7%
Revenue vs last quarter
-1.2%
Net profit
₹32 Cr
Profit vs last year
+28.0%
Profit vs last quarter
+6.7%
Net margin
16.8%
EPS
₹3.91
Earnings call transcript · 30 Jul 2026
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹4,717 Cr
- Prev close
- ₹570.15
- 52w High
- ₹688
- 52w Low
- ₹365
- Enterprise value
- ₹4,679 Cr
- Beta
- 0.6
- Price CAGR 1y
- -8.0%
- Price CAGR 3y
- 9.0%
- Price CAGR 5y
- —
- Price CAGR 10y
- —
Ratios
- Return on assets
- 9.1%
- PEG ratio
- 2.2
- P/E ratio
- 40.6
- P/B ratio
- 5.2
- EV / EBITDA
- 29.8
- Industry P/E
- 26.9
- ROCE
- 15.7%
- ROCE 5y average
- 20.2%
- ROE
- 12.7%
- Debt / Equity
- 0.0
- Interest coverage
- 27.2
- Dividend yield
- 0.2%
- ROE 3y average
- 13.0%
- ROE last year
- 13.0%
Annual P&L
- Annual revenue
- ₹702 Cr
- Annual profit
- ₹110 Cr
- Operating margin
- 23.0%
- Net profit margin
- 15.7%
- EBITDA margin
- 22.6%
- Sales growth 3y
- 41.3%
- Sales growth 5y
- 39.7%
- Profit growth 3y
- 19.0%
- Profit growth 5y
- 43.0%
- EPS
- ₹13.0
- Sales growth TTM
- 30.0%
- Profit growth TTM
- 26.0%
- Dividend payout
- 10.0%
Quarter P&L
- Sales latest quarter
- ₹191 Cr
- Profit latest quarter
- ₹32 Cr
- YoY quarterly sales growth
- 29.5%
- YoY quarterly profit growth
- 28.0%
- OPM latest quarter
- 26.0%
Balance Sheet
- Book Value
- ₹111
- Face Value
- ₹5.0
- Total debt
- ₹29 Cr
- Total cash
- ₹65 Cr
- Borrowings
- ₹29 Cr
- Reserves / Equity
- 21.2
Cash Flow
- Operating cash flow
- ₹133 Cr
- Free cash flow
- -₹53 Cr
- FCF yield
- -1.2%
- Net cash flow
- -₹43 Cr
Shareholding
- Promoter holding
- 54.4%
- FII holding
- 3.9%
- DII holding
- 10.6%
- Public holding
- 31.1%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| L&T Technology | 3,252.10 | 25.7 | 34,500 | 1.78 | 357.1 | 17.4 | 2,940.1 | 11.5 | 26.7 |
| Inventurus Knowl | 1,737.40 | 39.0 | 29,825 | 0.00 | 193.7 | 27.9 | 893.6 | 20.7 | 31.5 |
| Tata Technolog. | 697.60 | 43.5 | 28,326 | 1.20 | 180.8 | 6.2 | 1,664.6 | 33.8 | 20.9 |
| Netweb Technol. | 4,685.40 | 106.9 | 27,854 | 0.06 | 85.3 | 179.9 | 819.7 | 172.1 | 37.5 |
| Affle 3i | 1,436.00 | 42.4 | 20,235 | 0.00 | 128.4 | 21.7 | 747.2 | 20.4 | 16.8 |
| Sagility | 43.11 | 19.6 | 20,181 | 0.35 | 216.8 | 53.0 | 1,963.5 | 27.6 | 13.4 |
| ESDS Software | 1,359.00 | 129.1 | 15,929 | 0.00 | 29.3 | 14.0 | 133.7 | 7.3 | 30.2 |
| eMudhra | 605.50 | 43.6 | 5,014 | 0.21 | 32.0 | 29.2 | 190.7 | 29.5 | 15.7 |
| Median | 232.04 | 26.7 | 872 | 0.00 | 8.8 | 20.8 | 110.9 | 20.7 | 16.4 |
Competes with: Affle 3i Limited, Amagi Media Labs Limited, Black Box Limited, Cyient Limited, ESDS Software Solution Limited, Inventurus Knowledge Solutions Limited, L&T Technology Services Limited, Netweb Technologies India Limited, SAGILITY LIMITED, Tata Technologies Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 80 | 96 | 97 | 100 | 92 | 141 | 139 | 147 | 147 | 173 | 188 | 193 | 191 |
| Expenses | 56 | 68 | 73 | 67 | 66 | 109 | 109 | 112 | 113 | 132 | 147 | 151 | 141 |
| Material Cost | 60 | 61 | 66 | 71 | 80 | 76 | |||||||
| Change in Inventories | -0.14 | -0.19 | -2.75 | -0.01 | 0.45 | 0.29 | |||||||
| Purchases of Stock-in-Trade | 12 | 8.99 | 15 | 18 | 13 | 6.06 | |||||||
| Employee Cost | 24 | 27 | 36 | 38 | 38 | 39 | |||||||
| Other Expenses | 17 | 16 | 18 | 20 | 21 | 20 | |||||||
| Operating Profit | 24 | 28 | 25 | 33 | 27 | 32 | 30 | 35 | 35 | 41 | 41 | 42 | 50 |
| OPM % | 30 | 29 | 25 | 33 | 29 | 23 | 22 | 24 | 24 | 24 | 22 | 22 | 26 |
| Other Income | 1 | 0 | 2 | 3 | 3 | 1 | 2 | 2 | 3 | 2 | 3 | 3 | 2 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 0 | 0 | 1 | 1 | 0 | 1 | 0 | -0 | 0 | 1 | 1 | 3 | 1 |
| Depreciation | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 7 | 9 | 9 | 9 | 12 |
| Profit before tax | 20 | 23 | 20 | 29 | 24 | 27 | 25 | 31 | 31 | 33 | 34 | 33 | 38 |
| Tax % | 17 | 19 | 2 | 28 | 23 | 18 | 12 | 22 | 19 | 20 | 15 | 11 | 16 |
| Net Profit | 16 | 19 | 20 | 21 | 18 | 22 | 22 | 24 | 25 | 26 | 29 | 30 | 32 |
| EPS in Rs | 2 | 2.35 | 2.58 | 2.54 | 2.16 | 2.65 | 2.53 | 2.88 | 3 | 3.05 | 3.46 | 3.50 | 3.88 |
| Diluted EPS in Rs | 2.88 | 3 | 3.06 | 3.46 | 3.50 | 3.88 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 102 | 116 | 132 | 183 | 249 | 373 | 519 | 702 | 745 |
| Expenses | 69 | 85 | 92 | 116 | 161 | 263 | 395 | 542 | 571 |
| Material Cost | 211 | 277 | |||||||
| Change in Inventories | 1.54 | -2.50 | |||||||
| Purchases of Stock-in-Trade | 31 | 55 | |||||||
| Employee Cost | 93 | 139 | |||||||
| Other Expenses | 59 | 75 | |||||||
| Operating Profit | 32 | 32 | 40 | 67 | 87 | 110 | 124 | 159 | 174 |
| OPM % | 32 | 27 | 30 | 37 | 35 | 29 | 24 | 23 | 23 |
| Other Income | -2 | 0 | 1 | 1 | 5 | 7 | 8 | 12 | 10 |
| Exceptional items (within Other Income) | 0 | 0 | |||||||
| Interest | 0 | 1 | 1 | 5 | 3 | 3 | 1 | 5.07 | 6 |
| Depreciation | 8 | 9 | 9 | 13 | 16 | 21 | 24 | 34 | 40 |
| Profit before tax | 22 | 23 | 31 | 50 | 73 | 93 | 107 | 131 | 138 |
| Tax % | 19 | 20 | 19 | 18 | 17 | 18 | 19 | 16 | |
| Net Profit | 17 | 18 | 25 | 41 | 61 | 76 | 87 | 110 | 117 |
| EPS in Rs | 2.49 | 2.37 | 2.49 | 5.90 | 7.90 | 9.06 | 10 | 13 | 14 |
| Diluted EPS in Rs | 10 | 13 | |||||||
| Dividend Payout % | 0 | 0 | 0 | 21 | 15 | 13 | 12 | 10 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- —
- 5 years
- 40%
- 3 years
- 41%
- TTM
- 30%
Compounded profit growth
- 10 years
- —
- 5 years
- 43%
- 3 years
- 19%
- TTM
- 26%
Stock price CAGR
- 10 years
- —
- 5 years
- —
- 3 years
- 9%
- 1 year
- -8%
Return on equity
- 10 years
- —
- 5 years
- 15%
- 3 years
- 13%
- Last year
- 13%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 35 | 35 | 35 | 35 | 37 | 40 | 41 | 41 |
| Reserves | 41 | 57 | 72 | 118 | 354 | 616 | 705 | 870 |
| Borrowings | 29 | 42 | 51 | 67 | 25 | 8 | 0 | 29 |
| Other Liabilities | 15 | 25 | 33 | 39 | 43 | 86 | 123 | 274 |
| Minority Interest | 1.95 | 1.46 | ||||||
| Total Liabilities | 120 | 159 | 192 | 259 | 460 | 750 | 868 | 1,213 |
| Fixed Assets | 62 | 62 | 125 | 117 | 162 | 253 | 419 | 727 |
| CWIP | 22 | 40 | 4 | 43 | 47 | 51 | 17 | 29 |
| Investments | 0 | 0 | 14 | 0 | 21 | 4 | 81 | 46 |
| Other Assets | 36 | 56 | 49 | 99 | 230 | 443 | 351 | 411 |
| Total Assets | 120 | 159 | 192 | 259 | 460 | 750 | 868 | 1,213 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 17 | 23 | 41 | 22 | 34 | 73 | 102 | 133 |
| Cash from Investing Activity | -32 | -29 | -47 | -37 | -102 | -90 | -204 | -198 |
| Cash from Financing Activity | 10 | 12 | 5 | 16 | 127 | 176 | -21 | 22 |
| Net Cash Flow | -5 | 7 | -1 | 1 | 59 | 158 | -124 | -43 |
| Free Cash Flow | -15 | -5 | 6 | -25 | -28 | -1 | 18 | -52 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 77 | 73 | 41 | 88 | 99 | 101 | 102 | 98 |
| Inventory Days | 5 | 22 | 14 | 26 | 13 | 32 | 16 | 27 |
| Days Payable | 83 | 115 | 68 | 177 | 223 | 261 | 358 | 420 |
| Cash Conversion Cycle | -1 | -20 | -13 | -62 | -111 | -128 | -240 | -294 |
| Working Capital Days | 42 | 29 | 9 | 15 | 107 | 112 | 100 | 88 |
| ROCE % | 20 | 21 | 28 | 24 | 18 | 15 | 16 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
exports as % of revenue
66.00pct
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
44,48,129inr
2026-03-31
News
News and filings about eMudhra Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
Sells to
- Bharti Airtel · enterprise digital identity / PKI & trust services (telecom)
- ICICI Bank · enterprise PKI platform, digital signature certificates & digital trust services
- Infosys · enterprise digital trust / identity & PKI services
- Kotak Mahindra Bank · digital signature certificates & PKI/identity services
- Life Insurance Corporation · digital signing / identity & trust services (insurance sector)
- State Bank of India · digital signature certificates & PKI/authentication (SecurePass) services
- Tata Steel · enterprise digital signature / identity & trust services
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Information Technology
- Industry
- IT Enabled Services
- Classification
- Information Technology › IT Enabled Services
- ISIN
- INE01QM01018
Business segments
- Enterprise solutions- Outside India · 62%
- Trust services · 20%
- Enterprise solutions- India · 18%
News impact
Big market events that reach eMudhra Limited, and how the effect spreads.
25 Sept, 11:25 IST · Market event · high impact
IPO multibagger ESDS shares hit 5% lower circuit as Q1 net profit more than halves. Time to sell?
ESDS Software's quarterly profit more than halved, hitting its shares' lower circuit and hurting its holders, while rival cloud and data-center names face brief sympathy pressure with no clear beneficiary.
Who it hits first
- ESDS Software Solution (cloud hosting) reported Q1 FY27 net profit of Rs 29.3 crore, down 57% from the prior quarter, and its shares hit the 5% lower circuit at Rs 1,758.
- Holders who bought after the multibagger IPO run face sharp losses as analysts advise fresh investors to avoid chasing and allotted investors to book partial profits.
Who may gain
- No clear near-term beneficiary — this is a company-specific profit miss at ESDS, not a demand shift toward rivals.
Along the supply chain
Downstream
No direct downstream link — ESDS cloud customers face no stated price or outage change, so their costs and buying plans stay put.
Upstream
No direct upstream link — ESDS named no hardware or software supplier impact, and server or chip vendors face no stated order change from this profit miss.
Where demand moves
Business
Business demand does not move: ESDS cloud customers have no stated reason to switch, and no rival names an order gain, so this stays a profit-margin story, not a demand shift.
Capital
Capital flows out of ESDS as momentum holders sell into the lower circuit, with some money pausing on richly priced small IT names such as Netweb Technologies and E2E Networks until the next updates.
How it spreads across sectors
Information Technology
Small high-multiple IT stocks wobble on sympathy selling as ESDS resets growth hopes, while large IT services names see no order impact.
When it plays out
Immediate
ESDS stays weak and choppy near circuit limits as holders exit; close cloud peer E2E Networks and infra name Netweb Technologies trade soft on sympathy.
Medium term
ESDS must rebuild profit growth to defend its premium; rivals move on their own orders, with any lasting share shift to E2E Networks only if ESDS delivery slips.
Short term
Direction follows ESDS management commentary and peer updates: steady guidance calms the group, while weak follow-through extends derating of rich small IT names.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 18 Jun 2026 | unspecified | ₹1.25 |
|---|---|---|
| 18 Jun 2025 | unspecified | ₹1.25 |
| 20 Jun 2024 | unspecified | ₹1.25 |
| 22 Jun 2023 | unspecified | ₹1.25 |
| 28 Jul 2022 | unspecified | ₹1.25 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 2, delete 1, insert 5), 2023-11-12..2026-02-01 (docs/flat_day_repair.md)1× · 12 Nov 2023
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 16 Sep 2026 | MICROCURVES TRADING PRIVATE LIMITED | SELL | 17,03,589 | ₹655.88 |
| 16 Sep 2026 | MICROCURVES TRADING PRIVATE LIMITED | BUY | 17,03,589 | ₹655.32 |
| 16 Sep 2026 | JUNOMONETA FINSOL PRIVATE LIMITED | SELL | 11,92,596 | ₹655.62 |
| 16 Sep 2026 | JUNOMONETA FINSOL PRIVATE LIMITED | BUY | 11,89,259 | ₹655.35 |
| 16 Sep 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | SELL | 10,33,740 | ₹656.75 |
| 16 Sep 2026 | NK SECURITIES RESEARCH PRIVATE LIMITED | BUY | 10,33,740 | ₹656.39 |
| 16 Sep 2026 | ALPHAGREP SECURITIES PRIVATE LIMITED | SELL | 10,20,079 | ₹656.19 |
| 16 Sep 2026 | ALPHAGREP SECURITIES PRIVATE LIMITED | BUY | 10,20,079 | ₹656.08 |
| 16 Sep 2026 | QE SECURITIES LLP | BUY | 8,17,439 | ₹655.56 |
| 16 Sep 2026 | QE SECURITIES LLP | SELL | 8,06,110 | ₹655.54 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Earnings call6 Aug 2026
- Earnings call30 Jul 2026
- Results presentation30 Jun 2026
- Annual report · 2025-2625 May 2026
- Earnings call · Q4FY267 May 2026
- Earnings call6 Feb 2026
- Earnings call · Q3FY263 Feb 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.