NSE: EMMBI · BSE: 533161
EMMBI INDUSTRIES LIMITED
Manufactures polymer-based packaging products including FIBC jumbo bags, BOPP films, BOPET films and flexible packaging. FY26 consolidated net sales stood at Rs 455.54 crore with net profit of Rs 7.89 crore and an EBITDA margin of 9.32%. Exports dominate the revenue mix: export sales reached Rs 343.17 crore in FY26, up 27.84% year-on-year, even as industry-wide exports in BOPP, BOPET and flexible packaging contracted 20-40%. The product range includes PPWR-ready packaging and a Reclaim 30 line in which approximately 20% of raw materials are sourced from post-consumer and post-industrial polymer waste. Polymer raw materials are the largest cost at 59.1% of revenue, followed by other operating expenses at 21.7% and employee costs at 11.2%. The business operates from India with a wholly-owned Singapore subsidiary, Zastian PTE. LTD., and a step-down European subsidiary, Zastian Europe GmbH; a planned UAE subsidiary (Zastian FZ-LLC) for FIBC jumbo bag manufacturing was cancelled after US tariffs were removed. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. FIBC Jumbo Bags, BOPP films, BOPET films, Flexible packaging, PPWR-ready products, Reclaim 30 brand. Polymer packaging manufacturer with an export-heavy product mix
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 404 | 456 |
| EBITDA (ex other income) | 38 | 42 |
| margin % | 9.5 | 9.3 |
| Owners' profit | 6 | 8 |
| EPS, as reported (₹) | 3.46 | 4.10 |
| ROE % · ROCE % | 3.3 · 11.1 | 4.0 · 11.5 |
| Debt / equity (x) | 0.86 | 0.89 |
| Cash from operations | 25 | 9 |
| Capex | (19) | (12) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 120 | 103 | 108 | 104 | 122 | 112 | 117 | 116 |
| Profit before tax | 2 | 2 | 2 | 2 | 4 | 2 | 3 | 3 |
| Net profit | 2 | 2 | 1 | 1 | 3 | 1 | 2 | 2 |
| EPS (₹) | 0.89 | 0.95 | 0.82 | 0.77 | 1.49 | 0.58 | 1.26 | 1.18 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| EPL LIMITED | 6,871 | 14.1 | 2.40 | 7.5 | 13.7 | 13.6 | 9.0 | 19.1 |
| AGI GREENPAC LIMITED | 4,627 | 12.8 | 1.92 | 7.0 | 14.6 | 16.5 | — | 23.4 |
| UFLEX LIMITED | 4,203 | 6.2 | 0.52 | 6.7 | 3.9 | 2.7 | 11.6 | 17.1 |
| TCPL PACKAGING LIMITED | 3,722 | 32.2 | 5.18 | 14.1 | 13.6 | 13.0 | 15.4 | 17.8 |
| JINDAL POLY FILMS LIMITED | 2,951 | 144.3 | 0.72 | 10.1 | 0.6 | 0.8 | 8.5 | 23.0 |
| POLYPLEX CORPORATION LTD | 2,899 | 18.7 | 0.41 | 8.0 | 0.6 | 0.3 | 7.6 | 14.3 |
| XPRO INDIA LIMITED | 2,360 | 71.5 | 2.96 | 51.2 | 2.4 | 2.8 | 6.2 | 11.4 |
| COSMO FIRST LIMITED | 1,923 | 11.4 | 1.19 | 7.2 | 9.6 | 6.4 | 9.8 | 12.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 17.9 | 16.2 | 39 of 64 | 40% |
| P/B | 0.8 | 1.3 | 17 of 61 | 73% |
| ROCE | 4.3 | 6.9 | 41 of 68 | 40% |
| ROE | 4.0 | 6.8 | 35 of 61 | 43% |
| Debt / Equity | 0.9 | 0.4 | 48 of 61 | 22% |
| EBITDA margin | 9.2 | 12.1 | 41 of 62 | 34% |
| Revenue growth | 11.2 | 14.0 | 36 of 61 | 40% |
| Profit growth | 53.7 | 23.4 | 23 of 60 | 63% |
| Market cap | 156 | 118 | 33 of 73 | 56% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Board meeting on Oct 29 to consider and approve Q2 FY26-27 financial results | results | low | — | — |
| 14 Oct 2026 · Board committees reconstituted at Emmbi Industries | management changes | medium | — | — |
| 9 Oct 2026 · RTA confirms no demat requests; entire share capital is in dematerialised form for Q2 | compliance | minimal | — | — |
| 24 Sept 2026 · Trading Window closed from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 23 Sept 2026 · Emmbi shareholders approve 3 director appointments at 32nd AGM | management changes | medium | — | — |
| 23 Sept 2026 · Emmbi Industries 32nd AGM held via video conferencing; 8 resolutions voted on | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Newspaper publication of corrigendum to 32nd AGM notice | compliance | minimal | — | — |
| 7 Sept 2026 · Emmbi Industries issues corrigendum to AGM Notice and Annual Report | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Emmbi Industries issues corrigendum to 32nd AGM Notice and Annual Report | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Notice of 32nd AGM published in newspapers | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.