Emkay Global Financial Services Ltd

BSE: EMKAY532737ISIN INE296H01011

Financial Services
Stockbroking & Allied
BSE Financial Services

Share price

₹258.85-3.45 (-1.32%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹325.20
52W low: ₹185.30
Off 52W high: -20.40%
1M return: -7.93%
3M return: +3.60%
6M return: +10.03%
1Y return: -16.50%
20D avg volume: 10,612
50 DMA: ₹263.37
200 DMA: ₹248.13

Key ratios Consolidated

Market cap: ₹715.09 Cr
Current price: ₹258.85
52W high / low: ₹325.20 / ₹185.30
Face value: ₹10.00
P/E: 14.44
P/B: 1.62
EPS (TTM): ₹17.92
Book value / share: ₹159.83
ROE: —
ROCE: —
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-47.49 Cr
Interest cover: 2.63
Dividend yield: 0.58%
Dividend / share (TTM): ₹1.50
Payout: 8.37%
Cash conversion cycle: —

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	151.35	91.92	148.39	87.08	72.09	72.98	71.04	76.48	108.03	81.66	90.17	75.20
	5.35	4.62	4.82	4.74	4.99	4.78	5.81	7.39	6.79	7.46	9.24	8.20
	156.70	96.53	153.20	91.82	77.08	77.76	76.86	83.88	114.82	89.12	99.41	83.40
	115.69	87.80	143.60	85.80	76.76	72.50	75.90	72.65	83.37	72.01	82.81	68.67
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	63.80	51.61	54.18	50.05	41.88	42.53	42.68	38.45	48.73	41.01	47.20	37.27
	5.76	4.29	4.29	3.43	2.80	2.44	1.68	1.84	1.65	1.78	1.66	1.29
	3.31	3.01	3.69	3.55	3.28	2.91	3.29	2.94	2.79	2.62	3.06	2.68
	21.67	19.72	22.91	21.31	21.26	17.19	20.25	20.20	21.43	—	19.89	19.00
	41.01	8.73	9.60	6.01	0.32	5.25	0.95	11.23	31.44	17.11	16.60	14.74
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	41.01	8.73	9.60	6.01	0.32	5.25	0.95	11.23	31.44	17.11	16.60	14.74
	9.93	0.72	3.96	1.68	0.02	0.45	-7.47	—	—	—	—	—
	30.99	9.11	5.66	4.30	0.46	4.78	8.48	8.57	25.91	13.87	10.56	12.26
	11.37	3.39	2.20	1.68	0.18	1.88	3.40	3.45	10.49	5.63	4.29	4.98
Key metrics
	—	—	—	—	—	—	—	16.01	35.88	21.51	21.32	18.71
	—	—	—	—	—	—	—	20.90%	33.20%	26.30%	23.60%	24.90%
	20.50%	9.90%	3.80%	4.90%	0.60%	6.50%	11.90%	11.20%	24.00%	17.00%	11.70%	16.30%
	109.90%	26.00%	108.90%	13.90%	-33.30%	-10.60%	-21.20%	1.70%	—	—	—	—
	6,637.00%	90.60%	-33.30%	-49.80%	-98.20%	-65.50%	-19.70%	-30.10%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	478.74	376.96	336.17	282.48	203.01	271.20
	19.53	19.33	25.07	32.54	12.47	3.09
	498.25	396.29	361.24	315.01	215.48	274.29
	432.89	375.10	300.51	272.60	202.93	228.18
	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00
	219.64	188.64	170.86	150.84	115.09	109.61
	17.77	12.96	6.96	4.91	4.28	3.16
	13.56	13.43	11.64	9.80	9.18	7.58
	85.61	82.67	81.01	73.25	47.45	83.15
	65.35	21.19	60.73	42.41	12.55	46.12
	0.00	0.00	0.00	0.00	0.00	0.00
	65.35	21.19	60.73	42.41	12.55	46.12
	16.29	6.12	3.82	—	—	—
	50.06	15.20	56.83	32.44	14.08	33.80
	18.64	5.92	22.80	13.16	5.76	13.76
Key metrics
	—	—	—	57.12	26.01	56.86
	—	—	—	20.20%	12.80%	21.00%
	10.46%	4.00%	16.90%	11.50%	6.90%	12.50%
	63.62%	12.10%	19.00%	39.10%	-25.10%	—
	124.59%	-73.30%	75.20%	130.40%	-58.30%	—
	—	-80.49	-8.95	—	—	—
	—	-4.72	-0.04	—	—	—
	—	0.00	0.00	—	—	—
	—	-47.49	-46.47	—	—	—
Balance sheet
	—	1,740	1,233	—	—	—
	—	47.49	46.47	—	—	—
	—	172.07	94.13	—	—	—
	—	0.00	0.00	—	—	—
	—	31.45	31.56	—	—	—
	—	0.00	0.00	—	—	—
	—	380.67	303.17	—	—	—
Cash flow
	—	-71.73	-2.09	—	—	—
	—	-13.18	-10.15	—	—	—
	—	85.92	10.88	—	—	—
	—	8.76	6.86	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	141.51	83.00	143.56	79.48	63.57	65.31	69.31	71.76	100.69	75.69	80.02	69.08
	4.43	4.43	4.50	4.66	4.49	4.55	5.51	7.09	6.50	7.13	8.94	8.00
	145.94	87.43	148.06	84.14	68.06	69.86	74.81	78.85	107.19	82.82	88.95	77.08
	107.23	80.45	135.80	79.81	71.04	67.07	71.54	66.86	77.49	66.38	74.05	62.23
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	56.19	45.02	47.57	44.47	36.65	37.57	35.80	34.04	43.03	36.16	37.12	32.42
	7.14	5.57	5.47	4.87	3.86	3.32	2.29	2.36	2.19	2.17	2.11	1.84
	2.87	2.62	3.24	3.11	2.88	2.52	2.85	2.50	2.35	2.20	2.59	2.39
	22.48	20.42	22.18	21.69	21.49	17.54	21.54	20.44	21.93	—	21.59	18.99
	38.71	6.98	12.25	4.34	-2.99	2.79	3.27	11.99	29.70	16.44	14.90	14.85
	0.00	0.00	0.00	0.00	0.00	0.00	-0.36	0.00	0.00	0.00	-0.55	0.00
	38.71	6.98	12.25	4.34	-2.99	2.79	2.91	11.99	29.70	16.44	14.35	14.85
	9.16	0.34	4.14	1.21	-0.88	0.03	-8.04	—	—	—	—	—
	29.55	6.65	8.12	3.13	-2.11	2.76	10.96	9.86	24.56	13.54	8.93	12.32
	10.84	2.48	3.16	1.23	-0.83	1.09	4.40	3.97	9.94	5.49	3.62	5.00
Key metrics
	—	—	—	—	—	—	—	16.85	34.24	20.81	19.05	19.08
	—	—	—	—	—	—	—	23.50%	34.00%	27.50%	23.80%	27.60%
	20.90%	8.00%	5.70%	3.90%	-3.30%	4.20%	15.80%	13.70%	24.40%	17.90%	11.20%	17.80%
	122.60%	27.10%	107.10%	10.80%	-36.90%	-13.70%	-13.40%	3.90%	—	—	—	—
	1,500.50%	140.90%	-25.90%	-68.30%	-108.60%	-79.60%	22.70%	-20.00%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	447.55	348.99	315.35	252.09	186.15	175.07
	18.02	18.20	24.30	31.31	12.39	6.53
	465.57	367.19	339.66	283.40	198.53	181.60
	403.29	350.80	278.25	248.85	190.41	165.58
	0.00	0.00	0.00	0.00	0.00	0.00
	0.00	0.00	0.00	0.00	0.00	0.00
	193.25	166.26	149.03	128.90	106.70	102.75
	23.05	17.52	9.00	6.12	4.43	2.87
	11.84	11.75	9.91	8.91	8.84	7.34
	86.77	82.90	83.04	75.40	47.09	32.73
	62.28	16.39	61.41	34.56	8.12	16.02
	0.00	0.00	-0.36	-0.55	-1.15	2.52
	62.28	16.39	61.05	34.01	6.97	18.55
	14.85	4.49	2.13	—	—	—
	47.45	11.90	58.91	24.47	10.63	13.32
	17.71	4.64	23.64	9.93	4.32	5.41
Key metrics
	—	—	—	49.04	20.24	28.76
	—	—	—	19.50%	10.90%	16.40%
	10.60%	3.40%	18.70%	9.70%	5.70%	7.60%
	65.79%	10.70%	25.10%	35.40%	6.30%	—
	121.01%	-79.80%	140.70%	130.20%	-20.20%	—
	—	-88.78	-26.18	—	—	—
	—	-6.76	-0.33	—	—	—
	—	0.13	0.08	—	—	—
	—	15.20	5.75	—	—	—
Balance sheet
	—	1,697	1,131	—	—	—
	—	24.80	14.25	—	—	—
	—	166.84	90.56	—	—	—
	—	0.00	0.00	—	—	—
	—	30.30	29.91	—	—	—
	—	40.00	20.00	—	—	—
	—	309.56	237.14	—	—	—
Cash flow
	—	-80.43	-19.51	—	—	—
	—	-11.05	-11.59	—	—	—
	—	102.02	21.97	—	—	—
	—	8.35	6.67	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +23.31%
Sales CAGR 5Y: —
Profit CAGR 3Y: +3.83%
Profit CAGR 5Y: —
Sales YoY (TTM): +65.79%
Profit YoY (TTM): +121.01%

Consolidated

Sales CAGR 3Y: +22.91%
Sales CAGR 5Y: —
Profit CAGR 3Y: +2.58%
Profit CAGR 5Y: —
Sales YoY (TTM): +63.62%
Profit YoY (TTM): +124.59%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 72.89%

Quarter	September 2026	June 2026
Promoter %	72.89%	72.83%

Holder	Type	Holding	Previous	Change
Krishna Kumar Karwa	Promoter	22.10%	22.58%	-0.48%
Prakash Kacholia	Promoter	19.70%	18.48%	+1.22%
Emkay Corporate Services Private Limited	Promoter	17.37%	17.75%	-0.38%
Priti Prakash Kacholia	Promoter Group	6.73%	6.88%	-0.15%
Raunak Karwa	Promoter Group	6.27%	6.40%	-0.13%
Rajiv P Shroff	Public	1.64%	1.29%	+0.35%
Nirav Mahendra Sheth	Public	1.37%	1.40%	-0.03%
Sanjiv Dhireshbhai Shah	Public	1.36%	1.39%	-0.03%
Yatin Kumar Singh	Public	1.10%	1.13%	-0.03%
Mahi Madhusudan Kela	Public	1.08%	1.06%	+0.02%
Murlidhar Karwa (HUF) (Krishna Kumar Karwa being Karta)	Promoter Group	0.36%	0.37%	-0.01%
Krishna Kumar Karwa (HUF) (Krishna Kumar Karwa being Karta)	Promoter Group	0.36%	0.37%	-0.01%
Soumya Karwa	Promoter Group	0.00%	0.00%	0.00%
Deepak Kacholia	Promoter Group	0.00%	0.00%	0.00%
Krishna Kacholia	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
Billionbrains Garage Ventures Limited	1,29,989	207.20	48.27	29.40%	—	—	—
Motilal Oswal Financial Services Limited	61,021	1,012.00	22.58	—	+44.42% TTM	+33.22% TTM	+2.65%
360 ONE WAM LIMITED	43,647	1,070.00	35.01	—	+29.38% TTM	+10.69% TTM	-0.62%
Nuvama Wealth Management Limited	34,072	1,846.55	31.49	—	+12.91% TTM	+5.24% TTM	+29.07%
ANGEL ONE LIMITED	28,544	312.10	24.71	—	+21.25% TTM	+47.70% TTM	+23.81%
IIFL CAPITAL SERVICES LIMITED	11,025	349.40	17.95	—	+11.57% TTM	+4.74% TTM	+4.16%
Share India Securities Limited	4,007	183.10	10.99	—	—	—	-1.19%
ANAND RATHI SHARE AND STOCK BROKERS LIMITED	3,059	484.75	21.25	23.90%	—	—	-9.82%
Monarch Networth Capital Limited	2,770	349.30	48.98	25.60%	+27.10% TTM	+23.98% TTM	+12.95%
ALGOQUANT FINTECH LIMITED S	2,263	80.51	46.64	17.40%	+43.78% TTM	+272.95% TTM	+23.09%
Geojit Financial Services Limited	1,956	70.08	34.67	—	+0.45% TTM	-44.36% TTM	-3.31%
SMC Global Securities Limited	1,947	92.98	16.60	—	+18.19% TTM	+18.55% TTM	+38.67%
5paisa Capital Limited	1,528	325.85	36.56	—	+8.98% TTM	-11.61% TTM	—
DOLAT ALGOTECH LIMITED	1,062	60.36	7.36	19.80%	-11.33% TTM	-21.22% TTM	-22.33%
Systematix Corporate Services Ltd.	1,051	76.96	-693.00	—	+13.26% TTM	-102.77% TTM	-53.65%
DAM Capital Advisors Limited	984	139.20	28.94	—	-34.18% TTM	-69.75% TTM	-44.87%
Master Trust Ltd.	968	78.69	6.89	—	+17.50% TTM	+18.88% TTM	-39.61%
Arihant Capital Markets Ltd.	955	87.11	26.23	—	+22.20% TTM	+6.82% TTM	-13.62%
Emkay Global Financial Services Ltd	715	258.85	14.44	—	+63.62% TTM	+124.59% TTM	-16.50%
Aditya Birla Money Ltd S	620	109.80	11.29	—	+22.33% TTM	-3.02% TTM	-31.59%
Shardul Securities Ltd.	448	51.17	15.52	—	+89.35% TTM	+137.11% TTM	+7.55%
Pune E - Stock Broking Limited	407	256.70	—	17.30%	—	—	+18.65%
Indo Thai Securities Limited	388	29.23	21.13	—	+91.76% TTM	-13.71% TTM	-92.36%
Almondz Global Securities Limited	349	18.27	8.83	—	+37.47% TTM	+104.50% TTM	+1.39%
Shah Investor's Home Limited	295	139.65	—	—	—	—	—

Filings & corporate actions

Recent announcements

Intimation of receipt of trading approval letters for listing of equity shares from stock exchanges3 Nov 2026 · Company Update / General
General update on Restructuring3 Nov 2026 · Company Update / General
Newspaper Publication - Notice to shareholders regarding special window for transfer and dematerialization of physical securities31 Oct 2026 · Company Update / Newspaper Publication
Newspaper Publication of Un-Audited Financial Result for the 2nd quarter and half year ended 30th September, 202629 Oct 2026 · Company Update / Newspaper Publication
Emkay Global Financial Services Limited has informed the Exchange that the Board has approved to enter into a Business Transfer Agreement (BTA) with Emkay Wealth Advisory Limited, for the ....28 Oct 2026 · Company Update / Restructuring
Emkay Global Financial Services Limited has informed the Exchange that: 1. The Board has approved ....28 Oct 2026 · Company Update / Diversification / Disinvestment
Emkay Global Financial Services Limited has informed the Exchange that the Board has approved an investment in the Equity Shares of Emkay Capital Private Limited (ECPL), a wholly owned ....28 Oct 2026 · Company Update / Acquisition
Monitoring Agency Report28 Oct 2026 · Company Update / Monitoring Agency Report
Investor Presentation for quarter ended September 30, 202628 Oct 2026 · Company Update / Investor Presentation
Statement of Material Deviation in case of preferential issue28 Oct 2026 · Company Update / Reg. 32 (1), (3) - Statement of Deviation & Variation
Statement of Deviation of Fund28 Oct 2026 · Company Update / General
Outcome of Board Meeting28 Oct 2026 · Result / Financial Results
Outcome of Board Meeting28 Oct 2026 · Board Meeting / Outcome of Board Meeting
Allotment and grant of ESOP24 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Emkay Global Financial Services Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 28/10/2026 ,inter alia, to consider and approve the Unaudited ....22 Oct 2026 · Board Meeting / Board Meeting
Emkay Global Financial Services Limited has informed the Exchange about intimation of receipt of Listing approval from BSE Limited for 1,00,000 Equity Shares of Rs. 10. each allotted pursuant ....19 Oct 2026 · Company Update / General
Intimation of receipt of listing approval from National Stock Exchange of India Limited, for 1,00,000 Equity shares of Rs. 10 each, allotted pursuant to conversion of equivalent warrants ....16 Oct 2026 · Company Update / General
Certificate under Regulations 74(5) of SEBI (Depository and Participants) regulations, 2018 for the quarter ended 30th September, 2026.15 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Outcome of postal ballot14 Oct 2026 · Company Update / General
Scrutinizer Report14 Oct 2026 · AGM/EGM / Postal Ballot
Outcome of Postal ballot14 Oct 2026 · AGM/EGM / Postal Ballot
Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20159 Oct 2026 · Company Update / Award of Order / Receipt of Order
Cessation of Mr. Seshadri Sen as senior management personnel30 Sep 2026 · Company Update / Change in Management
Intimation of closure of trading window.28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Intimation of receipt of trading approval letters for listing of equity shares from stock exchanges25 Sep 2026 · Company Update / General
Allotment of 1,00,000 equity shares of Rs. 10/- each upon conversion of warrants at its Management Committee Meeting held today.21 Sep 2026 · Company Update / Allotment of Equity Shares
Receipt of In-Principle approval from stock exchanges for listing of 50,000 Equity Shares pursuant to conversion of warrants by way of preferential issue11 Sep 2026 · Company Update / General
Newspaper advertisement of Notice of Postal Ballot11 Sep 2026 · Company Update / Newspaper Publication
Intimation regarding Postal Ballot Notice to approve the appointment of Mr. Rajesh Shah as Non Executive Independent Director of the Company for a period of 5 years with effect from 19th August, 2026.10 Sep 2026 · AGM/EGM / Postal Ballot
Allotment of 1,50,000 equity shares of Rs.10/- each upon conversion of warrants at its Management Committee meeting held on 09.09.20269 Sep 2026 · Company Update / Allotment of Equity Shares
Intimation of receipt of trading approval letters for listing of Equity Shares from stock exchanges9 Sep 2026 · Company Update / General
Allotment of Non-Convertible Debentures7 Sep 2026 · Company Update / Allotment of Equity Shares
Appointment of Mr. Nikhil Sharma as Chief Information and Security Officer (CISO)4 Sep 2026 · Company Update / Change in Management
Newspaper Publication2 Sep 2026 · Company Update / Newspaper Publication
Intimation regarding incorporation of Wholly owned Subsidiary Company24 Aug 2026 · Company Update / Acquisition
Intimation of Allotment of 50,000 equity shares pursuant to conversion of warrants at its Management meeting held on 21st August, 202621 Aug 2026 · Company Update / Allotment of Equity Shares
Outcome of Management Committee for Issuance of Non-Convertible Debentures21 Aug 2026 · Company Update / Raising of Funds
Outcome of Management Committee Meeting for Issuance of Non-Convertible Debentures21 Aug 2026 · Board Meeting / Outcome of Board Meeting
Appointment of Mr. Rajesh Shah as an Additional Non Executive Independent Director of the Company.18 Aug 2026 · Company Update / General
Appointment of Mr. Rajesh Shah as an Additional Non-Executive Independent Director of the Company.18 Aug 2026 · Company Update / Change in Directorate

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 1.5000	3 Aug 2026	3 Aug 2026	—
Final Dividend - Rs. - 1.5000	4 Aug 2025	4 Aug 2025	—
Special Dividend - Rs. - 2.5000	4 Aug 2025	4 Aug 2025	—
Final Dividend - Rs. - 1.5000	1 Aug 2024	—	—

Board meetings

28 Oct 2026 Board Meeting - Financial Results
27 Jul 2026 Board Meeting - Financial Results