NSE: EMPIND · BSE: 509525
EMPIRE INDUSTRIES LTD.
Runs a diversified set of businesses grouped under Manufacturing, Trading and Indenting, Property Development, and Others. Manufacturing is the most consistently profitable named segment, covering machine tools, vending, glass (Vitrum Glass Division), foods, and industrial equipment. Trading and Indenting is the largest named segment by revenue but ran thin on EBIT in FY26, while Property Development contributed a small slice of revenue and EBIT. The company also reports across Healthcare, Rental on leasehold land, and Others segments. FY26 total revenue was ₹731.20 crores with a net profit of ₹51.55 crores and an EBITDA margin of 14.33%. The largest cost line is other operating expenses at 27.9% of revenue, followed by employee costs at 18.6% and materials at 12.1%. A Medtech Division has been set up, with a Divisional CEO appointed in March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing, Trading and Indenting, Property Development, Others. Diversified conglomerate with manufacturing, trading, property and an emerging medtech vertical.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 544 | 682 | 606 | 677 | 731 |
| EBITDA (ex other income) | 59 | 79 | 64 | 70 | 86 |
| margin % | 10.8 | 11.5 | 10.6 | 10.3 | 11.8 |
| Owners' profit | 24 | 36 | 37 | 34 | 52 |
| EPS, as reported (₹) | 39.49 | 59.21 | 61.67 | 57.42 | 85.91 |
| ROE % · ROCE % | 9.3 · 10.5 | 12.5 · 14.6 | 12.3 · 15.2 | 11.0 · 12.7 | 14.7 · 15.4 |
| Debt / equity (x) | 0.87 | 0.60 | 0.53 | 0.46 | 0.47 |
| Cash from operations | 53 | 79 | 75 | 92 | 59 |
| Capex | (10) | (7) | (12) | (7) | (14) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 152 | 163 | 176 | 186 | 167 | 180 | 189 | 195 |
| Profit before tax | 11 | 11 | 12 | 6 | 10 | 14 | 12 | 24 |
| Net profit | 10 | 10 | 11 | 4 | 10 | 12 | 11 | 19 |
| EPS (₹) | 16.14 | 16.35 | 17.53 | 7.40 | 16.04 | 20.65 | 17.64 | 31.59 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Manufacturing | 246 | 33.6 |
| Trading and Indenting | 351 | 48.0 |
| Property Development | 37 | 5.0 |
| Others | 98 | 13.4 |
| Total, before eliminations | 731 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| 3M INDIA LIMITED | 32,491 | 53.1 | 15.13 | 37.5 | 27.2 | 35.7 | 6.8 | 21.7 |
| GODREJ INDUSTRIES LTD | 31,855 | 27.1 | 1.37 | 13.5 | 10.4 | 6.4 | 19.0 | 27.3 |
| DCM SHRIRAM LIMITED | 14,235 | 9.8 | 1.84 | 10.0 | 11.1 | 9.5 | 11.4 | 11.7 |
| KAMA HOLDINGS LTD. | 6,790 | 7.3 | 0.45 | — | 12.3 | — | 13.5 | 22.4 |
| BALMER LAWRIE & CO LTD | 2,647 | 9.5 | 1.27 | 6.8 | 13.0 | 11.2 | 12.2 | 14.8 |
| TTK HEALTHCARE LIMITED | 1,448 | 19.6 | 1.30 | — | 5.9 | 7.4 | — | 12.2 |
| EMPIRE INDUSTRIES LTD. ◆ | 563 | 10.9 | 1.60 | — | 14.7 | 10.5 | — | 19.5 |
| GILLANDERS ARBUTHNOT LTD | 203 | 11.6 | 0.79 | 10.0 | 3.7 | 3.5 | 0.0 | 9.0 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.9 | 11.5 | 7 of 15 | 57% |
| P/B | 1.6 | 1.1 | 12 of 14 | 15% |
| ROCE | 10.5 | 8.4 | 5 of 14 | 69% |
| ROE | 14.7 | 10.7 | 4 of 14 | 77% |
| Debt / Equity | 0.5 | 0.4 | 9 of 13 | 33% |
| EBITDA margin | 19.5 | 20.6 | 8 of 14 | 46% |
| Revenue growth | 4.8 | 11.9 | 11 of 14 | 23% |
| Profit growth | 326.9 | 100.4 | 3 of 13 | 83% |
| Market cap | 563 | 203 | 7 of 15 | 57% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 8 Oct 2026 · Empire Industries - Regulation 74(5) compliance certificate for Sep 2026 quarter | compliance | minimal | — | — |
| 21 Sept 2026 · Trading Window Closed for Q2 FY26 Results Period | compliance | minimal | — | — |
| 17 Sept 2026 · Empire Industries 125th AGM: All 6 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 16 Sept 2026 · Empire Industries 125th AGM held on Sept 16, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Annual Report FY 2025-26 weblink filed, 125th AGM on Sep 16, 2026 | compliance | low | — | — |
| 18 Aug 2026 · Empire Industries AGM Notice Published in Newspapers | compliance | minimal | — | — |
| 17 Aug 2026 · Empire Industries Q1 FY27 standalone results: PAT up 47% YoY at Rs 14.17 crore | compliance | minimal | — | — |
| 17 Aug 2026 · 125th AGM on Sept 16, 2026; Record Date Sept 9 for Final and Special Dividend | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Empire Industries 125th AGM on Sep 16 2026, Annual Report FY 2025-26 | board shareholder meetings | medium | — | — |
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.