EMUDHRA LIMITED (EMUDHRA): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹360.75 latest close · −17.4% over the last 90 sessions

₹360.75 month-end · −41.6% over 12 months

₹360.75 month-end · −21.4% over 3 years

₹360.75 month-end · +42.6% since Jun '22

52-week range ₹314.00 to ₹681.60 · 1-year volatility 54.7%

Was the rally earned?

1 year3 years

-42%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 18 points, but investors now pay less per rupee of profit (P/E 55.8x to 26.0x), which took 59 points back.
The share count barely moved.

Net profit growth+16 ptsNet profit rose about 24%, which lifts the price.

P/E change-59 ptsThe P/E fell from 55.8x to 26.0x, which lowers the price.

Share count change+1 ptsShare count was little changed. More shares would count against the price.

-21%share price, 3 yearsLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 50 points, but investors now pay less per rupee of profit (P/E 58.1x to 26.0x), which took 71 points back.
The share count rose 7%.

Net profit growth+56 ptsNet profit rose about 89%, which lifts the price.

P/E change-71 ptsThe P/E fell from 58.1x to 26.0x, which lowers the price.

Share count change-6 ptsShare count rose 7%, which lowers the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with ONE 97 COMMUNICATIONS PAYTM

How rough has the ride been?

Maximum drawdown-67.8%not yet recovered

1-year volatility54.7%annualised

Beta vs sector index0.313-year daily, correlation 0.13

Volume spikes18last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-67.8% (2024-12 peak to 2026-10 low, not yet recovered)

-44.5% (2022-08 peak to 2023-03 low, recovered 2023-05)

-20.7% (2023-08 peak to 2024-01 low, recovered 2024-02)

Most recent volume spikes

2026-10-27: 5.8x the 50-day median, price +5.9% that day

2026-10-26: 9.2x the 50-day median, price -10.0% that day

2026-10-23: 26.5x the 50-day median, price +2.3% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Is it expensive against its own past and its peers?

26.0xP/E todayNear its historic low

Against its own history4th percentile

CheapestMedian 57.8xDearest

Usual range 36.7x to 92.3x since 2022-06.

Against Technology Services26.0x vs 21.1x

This company

26.0x

Sector median

21.1x

23% above the Technology Services median.

P/EP/BP/S

P/E (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

P/B (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

The chart loads when you open this tab.

P/S (this company)10th to 90th percentile of its own historyIts medianTechnology Services median

How to read this

Shaded band: 10th to 90th percentile of the company's own P/E history; dotted line: its median; orange line: sector median (companies with a positive multiple, at least 5 in the sector).

Sector figures are built from today's listed companies, so they exclude companies that are no longer listed.

All terms explained in the glossary →

How Technology Services is valued

Where does it rank among Technology Services peers?

Each cell is the company's percentile rank among its Technology Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE52nd▲ 6 pts vs a year ago
Op. margin83rd▲ 5 pts vs a year ago
Revenue growth74th▼ 15 pts vs a year ago
EPS growth71st▲ 16 pts vs a year ago
Debt/equity ↓69th▼ 25 pts vs a year ago
Cash cycle ↓99thflat vs a year ago
P/E ↓40th▲ 19 pts vs a year ago
12M momentum18th▼ 18 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Technology Services sector page Watch it move against Technology Services in the Observatory

What is the price implying?

~18%annual earnings growth implied by the priceBelow delivered growth

At P/E of 26.0x, a holder earning 12%/yr needs earnings to grow about 17.5%/yr for 10 years, then trade at 15x.

Delivered30.4%/yrEPS, last 8 fiscal years · fitted trend

Gap−12.9 ptsimplied minus delivered

Rank732ndmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	19.0%	20.1%	21.1%
15x	16.5%	17.5%	18.6%
20x	13.3%	14.3%	15.3%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 17.5%/yr

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Technology Services The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹360.75
P/E: 26.0x
ROCE: 16.0%
Market Cap: ₹2987 cr
Revenue (TTM): ₹745 cr
P/S: 4.0x
P/B: 3.3x
ROE: 12.6%
Operating Margin: 26.0%
Debt / Equity: 0.0x
Promoter Holding: 54.4%
12M Momentum: -41.6%

52-week range

₹314.00₹681.60

13% of the way from its 52-week low to its high

Price risk

1Y volatility

54.7%

Beta vs sector

1-year daily

0.46

Balance sheet & cash

Interest cover

operating profit ÷ interest

24.2x

Cash from profit, 3Y

operating cash flow ÷ net profit

1.13x

Share count, 1Y

unchanged

Are profits backed by cash?

5 of 7checks within range1 beyond a threshold

Other income reliance7%Within range

Other income as a share of pre-tax profit (trailing twelve months): 7.3%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate19%Within range

Median quarterly effective tax rate over about 2.5 years: 18.5%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion1.13xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.13x (cash from operations ₹308 cr, net profit ₹273 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow1 of 5 yrsBeyond threshold

Fiscal years with positive free cash flow in the last 5: 1. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history-3 daysWithin range

Debtor days are below the median of the previous three fiscal years by 3 days (98 vs 101). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress4% of fixed assetsWithin range

Capital work-in-progress is 4% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days+159 days / 2 yrsNear threshold

Days payable changed by +159 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, promoters trimmed 3.3 pts; DIIs added 2.1 pts.
The number of shareholders rose from 66,030 to 70,010 (+6%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters57.7%54.4%-3.3 pts

FIIs4.3%3.9%-0.4 pts

DIIs8.5%10.6%+2.1 pts

Public and others29.6%31.1%+1.6 pts

Number of shareholders

70,010shareholders+6% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

+9.2%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like EMUDHRA LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −27% to +61% vs the market, against 0% for all non-financial companies in the same months.
The gap against the base rate (+8.9%, 80% range −6.1% to +19.0%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 6 beyond the range shown, drawn at the edge

Similar setups' median

+9.2%

All companies' median

+0.3%

Beat the market

56% vs 50%

50 past situations · 50 companies · 30 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
ANUP Producer Manufacturing	Oct 2025	38x	—	−34%	−38%	−40%
XCHANGING Technology Services	Sep 2021	19x	13%	+16%	−19%	−31%
AURIONPRO Technology Services	Sep 2025	32x	18%	−30%	−39%	−46%
NEWGEN Technology Services	Jul 2020	17x	18%	−41%	−42%	+121%
DELTACORP Consumer Services	Mar 2020	9x	16%	−74%	−76%	+38%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
RAMCOSYS Technology Services	Sep 2021	26x	16%	+13%	−36%	−45%
KIOCL Non-Energy Minerals	Oct 2022	34x	19%	−32%	−37%	+74%
SUBEXLTD Technology Services	Mar 2022	35x	16%	−10%	−56%	−7%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: P/E, 12-month momentum and drawdown from 12-month high. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to EMUDHRA LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

DEEP INDUSTRIESDEEPINDS

Industrial Services

73%similar

ROCErevenue growth

GOLDIAM INTERNATIONALGOLDIAM

Consumer Durables

69%similar

volatilityP/E

ANTELOPUS SELAN ENERGYANTELOPUS

Energy Minerals

64%similar

revenue growthmarket cap

BALU FORGE INDUSTRIESBALUFORGE

Producer Manufacturing

64%similar

promoter holdingoperating margin

SYNCOM FORMULATIONS (INDIA) LTSYNCOMF

Health Technology

64%similar

revenue growthP/E

IZMOIZMO

Technology Services

64%similar

operating margindebt/equity

CEINFO SYSTEMS LTD MAPMYINDIAMAPMYINDIA

Technology Services

63%similar

promoter holdingrevenue

NEWGEN SOFTWARE TECHNOLOGIESNEWGEN

Technology Services

59%similar

EPS growthpromoter holding

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Jun '23

2026
OctPriceFell 68% from the Dec 2024 peak to the Oct 2026 low.
OctValuationP/E fell below the 10th percentile of its own history to date (24.5x).
OctPriceVolume reached 39.2x its 50-day median on 2026-10-22; price -20.0% that day.
SepPriceVolume reached 242.6x its 50-day median on 2026-09-16; price +8.3% that day.
JunInstitutionsFII + DII holding fell 4.4 pts over 1 quarter to 16.5%.
JunPeer rankMoved into the 2nd quartile of Technology Services on ROCE (from the 3rd quartile).
AprPriceVolume reached 13.8x its 50-day median on 2026-04-02; price +4.6% that day.
MarPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).

Show 22 earlier events

2026
FebPriceVolume reached 18.6x its 50-day median on 2026-02-05; price -2.7% that day.
JanValuationP/E fell below the 10th percentile of its own history to date (46.6x).
2025
NovPriceVolume reached 13.9x its 50-day median on 2025-11-28; price -0.0% that day.
SepPeer rankMoved into the top quartile of Technology Services on operating margin (from the 2nd quartile).
SepPriceVolume reached 6.1x its 50-day median on 2025-09-12; price +3.2% that day.
JunPeer rankSlipped to the 3rd quartile of Technology Services on ROCE (from the 2nd quartile).
MarPeer rankSlipped to the 2nd quartile of Technology Services on operating margin (from the top quartile).
JanPriceVolume reached 15.2x its 50-day median on 2025-01-29; price -17.7% that day.
2024
OctValuationP/E crossed above the 90th percentile of its own history to date (94.3x).
OctPriceVolume reached 13.4x its 50-day median on 2024-10-09; price +7.3% that day.
JulSharesShare count is up 8.1% over 12 months.
JunPromoterPromoter holding fell 3.3 pts to 54.4%.
JunResultsRevenue (TTM) reached a new high of ₹373 cr.
JunInstitutionsFII + DII holding rose 5.9 pts over 2 quarters to 18.6%.
JunValuationP/E crossed above the 90th percentile of its own history to date (90.4x).
JunPriceVolume reached 6.6x its 50-day median on 2024-06-11; price +8.4% that day.
MarPriceVolume reached 26.4x its 50-day median on 2024-03-22; price +17.5% that day.
JanDebtDebt / equity halved over 12 months to 0.06x.
2023
DecPriceVolume reached 7.2x its 50-day median on 2023-12-14; price -1.7% that day.
JulPriceVolume reached 15.4x its 50-day median on 2023-07-05; price +12.5% that day.
JunResultsRevenue (TTM) reached a new high of ₹249 cr.
JunPeer rankSlipped to the 2nd quartile of Technology Services on ROCE (from the top quartile).

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history54 months · 2022-06 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	26.0x	₹745 cr	12.6%	16.0%	0.0x
2026-10	24.5x	₹745 cr	12.8%	16.0%	0.0x
2026-09	42.9x	₹745 cr	12.8%	16.0%	0.0x
2026-08	42.1x	₹701 cr	12.1%	16.0%	0.0x
2026-07	35.7x	₹701 cr	12.1%	16.0%	0.0x
2026-06	34.3x	₹701 cr	12.1%	16.0%	0.0x
2026-05	37.9x	₹655 cr	13.9%	15.0%	0.0x
2026-04	39.5x	₹655 cr	13.9%	15.0%	0.0x
2026-03	30.2x	₹655 cr	13.9%	15.0%	0.0x
2026-02	37.4x	₹606 cr	13.0%	15.0%	0.0x
2026-01	46.6x	₹606 cr	13.0%	15.0%	0.0x
2025-12	49.4x	₹606 cr	13.0%	15.0%	0.0x
2025-11	55.8x	₹574 cr	12.5%	15.0%	0.0x
2025-10	58.3x	₹574 cr	12.5%	15.0%	0.0x
2025-09	61.8x	₹574 cr	12.5%	15.0%	0.0x
2025-08	70.4x	₹519 cr	11.5%	15.0%	0.0x
2025-07	76.0x	₹519 cr	11.5%	15.0%	0.0x
2025-06	75.1x	₹519 cr	11.5%	15.0%	0.0x
2025-05	78.5x	₹472 cr	12.7%	18.0%	0.0x
2025-04	78.5x	₹472 cr	12.7%	18.0%	0.0x
2025-03	86.3x	₹472 cr	12.7%	18.0%	0.0x
2025-02	85.5x	₹430 cr	12.3%	18.0%	0.0x
2025-01	70.2x	₹430 cr	12.3%	18.0%	0.0x
2024-12	94.2x	₹430 cr	12.3%	18.0%	0.0x
2024-11	91.6x	₹385 cr	11.9%	18.0%	0.0x
2024-10	94.3x	₹385 cr	11.9%	18.0%	0.0x
2024-09	91.4x	₹385 cr	11.9%	18.0%	0.0x
2024-08	86.0x	₹373 cr	11.6%	18.0%	0.0x
2024-07	92.6x	₹373 cr	11.6%	18.0%	0.0x
2024-06	90.4x	₹373 cr	11.6%	18.0%	0.0x
2024-05	96.4x	₹249 cr	15.6%	24.0%	0.1x
2024-04	96.0x	₹249 cr	15.6%	24.0%	0.1x
2024-03	95.8x	₹249 cr	15.6%	24.0%	0.1x
2024-02	74.9x	₹249 cr	15.6%	24.0%	0.1x
2024-01	57.9x	₹249 cr	15.6%	24.0%	0.1x
2023-12	57.2x	₹249 cr	15.6%	24.0%	0.1x
2023-11	58.1x	₹249 cr	15.6%	24.0%	0.1x
2023-10	57.8x	₹249 cr	15.6%	24.0%	0.1x
2023-09	59.2x	₹249 cr	15.6%	24.0%	0.1x
2023-08	63.1x	₹249 cr	15.6%	24.0%	0.1x
2023-07	57.1x	₹249 cr	15.6%	24.0%	0.1x
2023-06	54.4x	₹249 cr	15.6%	24.0%	0.1x
2023-05	73.2x	₹183 cr	26.8%	28.0%	0.4x
2023-04	45.9x	₹183 cr	26.8%	28.0%	0.4x
2023-03	36.4x	₹183 cr	26.8%	28.0%	0.4x
2023-02	42.9x	₹183 cr	26.8%	28.0%	0.4x
2023-01	46.8x	₹183 cr	26.8%	28.0%	0.4x
2022-12	53.6x	₹183 cr	26.8%	28.0%	0.4x
2022-11	52.4x	₹183 cr	26.8%	28.0%	0.4x
2022-10	54.1x	₹183 cr	26.8%	28.0%	0.4x
2022-09	55.1x	₹183 cr	26.8%	28.0%	0.4x
2022-08	60.9x	₹183 cr	26.8%	28.0%	0.4x
2022-07	57.8x	₹183 cr	26.8%	28.0%	0.4x
2022-06	42.9x	₹183 cr	26.8%	28.0%	0.4x

Methodology and data notes