Emmbi Industries Limited (EMMBI)
₹82.11 -4.62% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Emmbi Industries' revenue was ₹116 Cr (+11.2% year on year, -1.0% on the previous quarter), and net profit ₹2.3 Cr (+54.0% year on year); the operating margin was 9.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹116 | +11.2% | -1.0% |
| Operating profit | ₹10.5 | +9.3% | -2.4% |
| Net profit | ₹2.3 | +54.0% | -6.2% |
| EPS (₹) | 1.19 | +54.5% | -5.6% |
| Operating margin | 9.1% | — | — |
EMMBI delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 66.86% of the EMMBI shares traded on NSE were taken to delivery, against the stock's own 20-session average of 65.2%. That is close to its usual level. Turnover was only ₹15 lakh, so a handful of trades can move this figure. It traded 2.2 times its average daily volume. It closed at a price band (circuit) on 1 session in about the last 20.
Delivery in the last 5 sessions: 96.1% · 56.8% · 71.5% · 46.9% · 66.9%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Emmbi Industries held its 32nd Annual General Meeting on September 23, 2026, where shareholders approved all eight resolutions with requisite majorities. Among the passed resolutions was the declaration of a dividend of ₹0.30 per equity share for FY26. Shareholders also approved the appointment of Anuj Choksey as Independent Director, Maithili Makrand Appalwar and Yash Ravi Punjabi as Executive Directors, and authorized promoter executive remuneration exceeding prescribed statutory limits. Total turnout saw 1.24 crore votes polled out of 1.92 crore total equity shares.
- Dividend of ₹0.30 per equity share approved for FY26
- All 8 resolutions passed, with 12,429,308 votes polled out of 19,240,250 total shares (64.60% turnout)
- Appointment of Anuj Choksey as Independent Director and Maithili Appalwar & Yash Punjabi as Executive Directors approved
- Approval granted for promoter executive director remuneration exceeding SEBI LODR limits, passing with 99.59% overall support (51,388 non-institution votes against)
Shareholders of Emmbi Industries approved the appointment of three directors at the 32nd AGM held on September 23, 2026, effective retrospectively from August 14, 2026. Mr. Anuj Choksey has been appointed as Non-Executive Independent Director for a 3-year term ending August 13, 2029. Additionally, Ms. Maithili Makrand Appalwar and Mr. Yash Ravi Punjabi (promoter group members) were appointed as Executive Directors. The company generated TTM revenue of ₹456 Cr and PAT of ₹8 Cr with a market cap of ₹171 Cr.
- Shareholders approved three director appointments at the 32nd AGM on September 23, 2026
- Mr. Anuj Choksey appointed as Non-Executive Independent Director for a 3-year term till August 13, 2029
- Ms. Maithili Makrand Appalwar and Mr. Yash Ravi Punjabi appointed as Executive Directors
- All three board appointments took effect from August 14, 2026
Emmbi Industries has issued a corrigendum correcting clerical and typographical errors in its 32nd Annual General Meeting notice and FY25-26 Annual Report. Key rectifications include changing the proposed resolutions for Item Nos. 6 and 7 from Ordinary to Special Resolutions, and updating expected credit loss rates on trade receivables from 0.00% to 0.26% for FY26 and 0.25% for FY25. The company stated that these corrections are non-material and have no impact on its financial position or member voting rights. The AGM is scheduled for September 23, 2026, via Video Conferencing.
- Resolution type for AGM Item Nos. 06 and 07 corrected from Ordinary Resolution to Special Resolution
- Expected Loss Rate on trade receivables for FY26 corrected to 0.26% (total 0.25%) from previously stated 0.00%
- Expected Loss Rate on trade receivables for FY25 corrected to 0.25% (total 0.24%) from previously stated 0.00%
- 32nd AGM remains scheduled for September 23, 2026 at 11:30 A.M. IST via VC/OAVM
- Director Lalit Surendrakumar Shah's category corrected to Non-Executive Independent Director on the NRC
Emmbi Industries has issued a corrigendum detailing clerical corrections to its FY25-26 Annual Report and Notice of the 32nd AGM scheduled for September 23, 2026. Key corrections include classifying Resolutions 6 and 7 as Special Resolutions rather than Ordinary Resolutions and updating the director tenure end-date to August 13, 2029. Additionally, expected loss rates for trade receivables were corrected from 0.00% to 0.26% for FY26 and 0.25% for FY25. The company stated that these corrections are non-material and have no impact on its overall financial position.
- AGM scheduled for September 23, 2026 at 11:30 A.M. IST via video conferencing
- Item Nos. 6 and 7 corrected from Ordinary Resolutions to Special Resolutions
- Director appointment tenure end date adjusted to August 13, 2029 (from August 14, 2029)
- Expected Loss Rate on Trade Receivables corrected to 0.26% for FY26 and 0.25% for FY25 (previously printed as 0.00%)
- Company confirmed corrections carry zero material impact on financial position
Emmbi Industries Limited has announced that its 32nd Annual General Meeting (AGM) will be held on Wednesday, September 23, 2026, at 11:30 AM IST via Video Conference. In accordance with Regulation 42, the Register of Members and Share Transfer Books will remain closed from September 17, 2026, to September 23, 2026 (both days inclusive). The company has also issued a web-link notice for its FY25-26 Annual Report to shareholders without registered email addresses.
- 32nd AGM scheduled for September 23, 2026, at 11:30 AM IST via Video Conferencing
- Register of Members and Share Transfer Books closed from September 17 to September 23, 2026
- Dispatched intimation containing FY25-26 Annual Report web-links to unregistered shareholders
Emmbi Industries Limited has issued a statutory communication under Regulation 36(1)(b) of SEBI LODR to shareholders whose email addresses are not registered with the RTA or Depository Participants. The company informed that its 32nd Annual General Meeting (AGM) is scheduled for Wednesday, September 23, 2026, at 11:30 AM IST via Video Conference. The letter provides web links to access the FY 2025-26 Annual Report and details procedures to update email records.
- 32nd AGM scheduled for September 23, 2026, at 11:30 AM IST via Video Conference / OAVM
- Notice issued under SEBI Regulation 36(1)(b) for shareholders without registered email addresses
- Web-link and access path shared for the FY 2025-26 Annual Report
Emmbi Industries Limited has issued the notice for its 32nd Annual General Meeting (AGM) to be held on September 23, 2026, via Video Conferencing. The cut-off date to determine shareholder voting eligibility is September 16, 2026, with remote e-voting running from September 20 to September 22, 2026. The accompanying Annual Report includes resolutions to regularize additional directors appointed on August 14, 2026. This is a routine annual compliance filing with no immediate operational disruption.
- 32nd AGM scheduled for September 23, 2026, at 11:30 a.m. IST via Video Conferencing.
- Cut-off date for remote e-voting eligibility fixed as September 16, 2026.
- Remote e-voting window opens September 20, 2026 (9:00 a.m.) and ends September 22, 2026 (5:00 p.m.).
- Additional directors appointed on August 14, 2026, are proposed for shareholder regularisation at the AGM.
Emmbi Industries has scheduled its 32nd Annual General Meeting (AGM) for Wednesday, September 23, 2026, via video conferencing. The company has fixed Wednesday, September 16, 2026, as the Record Date to determine shareholder eligibility for the final dividend. The recommended final dividend is Rs 0.30 per equity share of face value Rs 10 for FY26, subject to shareholder approval at the AGM.
- Final dividend of Rs 0.30 per equity share (face value Rs 10) for FY26
- Record date fixed as September 16, 2026, for dividend entitlement
- 32nd Annual General Meeting scheduled for September 23, 2026, at 11:30 AM IST
- Dividend was earlier recommended by the Board on May 25, 2026
Emmbi Industries Limited has scheduled its 32nd Annual General Meeting (AGM) for September 23, 2026, via video conferencing. The company fixed September 16, 2026, as the record date to determine eligibility for a final dividend of ₹0.30 per equity share (face value ₹10) for FY26. The dividend was previously recommended by the Board on May 25, 2026, and remains subject to shareholder approval at the AGM.
- Record date fixed as September 16, 2026, for final dividend entitlement
- Final dividend of ₹0.30 per equity share of ₹10 face value recommended for FY26
- 32nd AGM scheduled for September 23, 2026, at 11:30 AM IST
Emmbi Industries submitted Board comments regarding an 8-day delay in filing Related Party Transaction disclosures under Regulation 23(9) of SEBI LODR for the half-year ended March 31, 2026. BSE and NSE levied a Standard Operating Procedure fine of ₹47,200 each (₹40,000 base fine plus 18% GST). The Board noted at its August 14, 2026 meeting that the delay was procedural and inadvertent, confirming the disclosures were subsequently submitted and fines were paid on July 1, 2026. The matter has no material impact on the company's financial health or operations.
- Fine of ₹47,200 each (including 18% GST of ₹7,200) levied by BSE and NSE
- Delay spanned 8 days at a penalty rate of ₹5,000 per day under Regulation 23(9)
- Non-compliance pertained to Related Party Transaction disclosures for the half-year ended March 31, 2026
- Fines were settled on July 1, 2026, and Board reviewed the matter on August 14, 2026
Emmbi Industries has announced key additions to its Board of Directors effective August 14, 2026. Mr. Yash Ravi Punjabi and Ms. Maithili Appalwar have been appointed as Additional Executive Directors, subject to shareholder approval within 3 months. In addition, Mr. Anuj Choksey has been appointed as a Non-Executive Independent Director for a 3-year term ending August 13, 2029. Both new executive directors are members of the promoter family and previously led the Avana agri-business unit and international operations.
- Appointed Mr. Yash Ravi Punjabi and Ms. Maithili Appalwar as Additional Executive Directors w.e.f. August 14, 2026
- Appointed Mr. Anuj Choksey as Independent Director for a 3-year term from August 14, 2026 till August 13, 2029
- Shareholder approval for executive director appointments to be obtained within 3 months
- Unaudited foreign subsidiaries generated Rs 29.58 million revenue and Rs 3.48 million PAT in Q1 ended June 30, 2026
Emmbi Industries has appointed three new directors to its Board effective August 14, 2026. Mr. Anuj Choksey has been appointed as Non-Executive Independent Director for a 3-year term ending August 13, 2029. In addition, Ms. Maithili Appalwar (Head of Avana business unit) and Mr. Yash Punjabi (MD of subsidiary Zastian Europe GmbH) have been inducted as Executive Directors, subject to shareholder approval within 3 months. Both executive appointees belong to the promoter family (daughter and son-in-law of CMD Makrand Appalwar and CFO Rinku Appalwar).
- Mr. Anuj Choksey appointed as Non-Executive Independent Director for a 3-year term from August 14, 2026 to August 13, 2029.
- Ms. Maithili Appalwar and Mr. Yash Punjabi appointed as Additional Executive Directors, subject to shareholder approval within 3 months.
- Appointed M/s. Joshi Apte & Associates as Cost Auditors for Financial Year 2026-27.
- Foreign subsidiaries (Zastian PTE Ltd and Zastian Europe GmbH) contributed Rs 29.58 million in revenue and Rs 3.48 million in PAT for the quarter.
Emmbi Industries has approved its Q1 FY27 results and initiated a leadership transition by appointing two promoter-family members as Executive Directors. Ms. Maithili Appalwar (CMD's daughter) and Mr. Yash Ravi Punjabi (CMD's son-in-law) join the board, both holding Wharton MBAs and having previously led the 'Avana' and international divisions. Financially, the company's foreign subsidiaries in Singapore and Germany contributed Rs 2.958 Cr to the quarterly revenue with a PAT of Rs 0.348 Cr. The board also appointed a new Independent Director for a 3-year term and confirmed Cost Auditors for FY27.
- Appointment of 2 new Executive Directors from the promoter family to lead international and B2C growth
- Foreign subsidiaries contributed Rs 2.958 Cr to revenue in the quarter ended June 30, 2026
- Consolidated PAT from foreign subsidiaries stood at Rs 0.348 Cr for the quarter
- Mr. Anuj Choksey appointed as Independent Director for a 3-year term until August 13, 2029
- Board meeting concluded within 2.5 hours, approving both financials and leadership changes
Emmbi Industries has announced a change in its corporate office location within Mumbai, moving from Santacruz (East) to Kurla (West). The change was approved by the Board of Directors via a circular resolution on July 17, 2026, and will be effective from July 20, 2026. This is a purely administrative update and does not affect the company's registered office in Silvassa or its core manufacturing operations. Given the company's TTM revenue of Rs 456 Cr, this relocation has no material impact on financial performance.
- Corporate office address changing effective from July 20, 2026
- Board approval granted via circular resolution on July 17, 2026
- New office located at 306-308, B Wing, Kohinoor City, Kurla (W), Mumbai
- Registered office remains unchanged at Silvassa, U.T. of Dadra & Nagar Haveli
Emmbi Industries has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent (RTA), Datamatics Business Solutions, confirmed that no dematerialization requests were received during the quarter ended June 30, 2026. Crucially, the entire share capital of the company is already held in dematerialized form. This is a routine administrative filing with no impact on the company's financial or operational standing.
- 0 dematerialization requests were received during the quarter ended June 30, 2026
- 100% of the total share capital is confirmed to be in dematerialized form as of June 30, 2026
- Certificate issued by RTA Datamatics Business Solutions Limited on July 8, 2026
- Filing submitted to BSE and NSE on July 10, 2026
Financial Performance
Revenue Growth by Segment
Overall revenue grew 9% YoY in 9MFY25 to INR 296.8 Cr from INR 271.70 Cr. Specific segment-wise growth percentages for FIBC vs. Water Conservation are not disclosed, but growth was driven by improved demand across the polymer-based packaging portfolio.
Geographic Revenue Split
A substantial portion of revenue is derived from exports, making the company vulnerable to global demand shifts and currency volatility. Specific regional percentage splits (e.g., Europe vs. US) are not disclosed in the available documents.
Profitability Margins
PAT margin stood at 1.68% in 9MFY25, a decline from 1.99% in 9MFY24. For FY24, the PAT margin was 2.60% compared to 2.23% in FY23. The decline in 9MFY25 is attributed to increased finance and depreciation expenses.
EBITDA Margin
PBILDT (EBITDA) margin was 9.70% in 9MFY25, down from 10.16% in 9MFY24. Historically, margins have been range-bound between 10-12% over the last four years due to the fragmented nature of the FIBC industry and limited pricing power.
Capital Expenditure
No major debt-funded capital expenditure is planned over the medium term. The company is focusing on utilizing existing capacity across its 2 mother units and 8 satellite units to improve return indicators like ROCE, which was 8.16% in FY24.
Credit Rating & Borrowing
CARE assigned a long-term rating of 'CARE BBB+; Stable' and short-term rating of 'CARE A3+' in April 2025. CRISIL reaffirmed and subsequently withdrew its 'CRISIL BBB+/Stable/A2' ratings in May 2025 at the company's request. Interest coverage ratio was 2.17 times in 9MFY25.
Operational Drivers
Raw Materials
Polymers (Polypropylene and Polyethylene) represent the primary raw material cost, constituting a significant but unspecified majority of the total cost structure.
Import Sources
Not specifically disclosed, though the company notes exposure to global polymer price fluctuations, suggesting international sourcing or pricing benchmarks.
Capacity Expansion
Current operations consist of 2 mother units for basic parts and 8 satellite units for final product assembly. No specific MTPA expansion figures are provided, as the company is currently avoiding large debt-funded capex.
Raw Material Costs
Raw material costs impact margins significantly; PBILDT margin fell to 9.70% in 9MFY25 partly due to higher input costs. The company's ability to pass on these costs is limited by intense competition in standardized product categories.
Manufacturing Efficiency
Capacity utilization is not explicitly stated as a percentage, but fund-based working capital limit utilization remained high at ~92% for the 12 months ended February 2025, indicating high operational activity.
Logistics & Distribution
Not disclosed in available numbers, but the company operates a geographically diversified revenue profile requiring significant logistics for global exports.
Strategic Growth
Expected Growth Rate
9%
Growth Strategy
Growth is targeted through R&D-led innovation in value-added products like 'Reclaim30' (recycled FIBC), expanding the B2C segment in water conservation (pond liners), and leveraging longstanding relationships with global customers to increase market share in the fragmented FIBC industry.
Products & Services
Flexible Intermediate Bulk Containers (FIBC/Jumbo Bags), woven sacks, container liners, pond liners, canal liners, flexi tanks, car covers, and mulch films.
Brand Portfolio
Emmbi, Reclaim30 (sustainable FIBC brand).
New Products/Services
Reclaim30 (FIBC bags using 30% recycled material) is a key new sustainable product launch aimed at meeting global ESG requirements for packaging.
Market Expansion
The company is targeting growth in the sustainable packaging market and B2C water conservation products, though specific regional timelines are not provided.
External Factors
Industry Trends
The FIBC industry is growing due to the shift toward flexible packaging, but remains highly fragmented with low technology barriers. There is a significant shift toward sustainable and recycled packaging materials (e.g., Reclaim30).
Competitive Landscape
Intense competition from numerous small and large players in the woven sacks and FIBC segments, which keeps operating margins range-bound at 10-12%.
Competitive Moat
Moat is based on a 'mother-satellite' manufacturing model and R&D capabilities in specialized polymer products like pond liners. However, the moat is moderate as the industry has low capital and technology requirements.
Macro Economic Sensitivity
Highly sensitive to global trade volumes and industrial production cycles due to the B2B nature of FIBC packaging.
Consumer Behavior
Increasing demand for sustainable and recycled content in industrial packaging is driving the adoption of products like Reclaim30.
Geopolitical Risks
Vulnerable to trade barriers and shipping disruptions that could affect the export of jumbo bags and liners to international markets.
Regulatory & Governance
Industry Regulations
Subject to environmental norms regarding plastic waste and manufacturing standards for FIBCs used in food and chemical transport.
Environmental Compliance
The company is investing in sustainable products like Reclaim30 to comply with global plastic recycling norms, though specific ESG compliance costs in INR are not provided.
Legal Contingencies
Not disclosed in available documents. Recent governance activity includes the appointment of Mr. Mahipal Singh Chouhan as Company Secretary and Compliance Officer effective November 24, 2025.
Risk Analysis
Key Uncertainties
Volatility in polymer prices and forex rates could impact margins by 1-2%. The ability to sustain a 9% growth rate depends on global economic recovery.
Geographic Concentration Risk
High exposure to export markets, though the specific percentage of revenue from the top region is not disclosed.
Third Party Dependencies
High dependency on polymer suppliers; any disruption in the global supply chain for polypropylene would halt production.
Technology Obsolescence Risk
Low risk for basic packaging, but the company must continue to innovate in sustainable materials to avoid losing market share to 'green' competitors.
Credit & Counterparty Risk
Receivables quality is supported by established relationships, but the working capital cycle is long at 200 days GCA, indicating potential liquidity pressure if collections slow.
