Empire Industries (EMPIND) | Financial Analysis & Statements
Empire Industries Ltd. Small-cap Industrials
TL;DR: Financial Overview - Revenue, Profits & Key Metrics
Latest Quarterly: Dec 2025Income Metrics
Revenue
1.9B
Gross Profit
1.0B
53.77%
Operating Income
131.7M
6.98%
Net Income
105.8M
5.61%
EPS (Diluted)
₹17.64
Balance Sheet Metrics
Total Assets
7.5B
Total Liabilities
4.4B
Shareholders Equity
3.1B
Debt to Equity
1.39
Cash Flow Metrics
Revenue & Profitability Trend
Quarter Income Flow
Dec 31, 2025
Annual Income Flow
2025
Empire Industries Income Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 5.5B | 6.1B | 6.8B | 5.4B | 4.9B |
| Cost of Goods Sold | 3.1B | 2.7B | 3.2B | 2.3B | 2.5B |
| Gross Profit | 2.4B | 3.3B | 3.6B | 3.2B | 2.4B |
| Gross Margin % | 43.4% | 55.1% | 52.3% | 58.6% | 48.9% |
| Operating Expenses | |||||
| Research & Development | - | - | - | - | - |
| Selling, General & Administrative | 578.0M | - | 525.7M | 523.6M | 395.4M |
| Other Operating Expenses | 1.1B | 1.4B | 1.6B | 1.0B | 629.9M |
| Total Operating Expenses | 1.6B | 1.4B | 2.2B | 1.6B | 1.0B |
| Operating Income | 634.1M | 476.7M | 614.6M | 468.1M | 243.5M |
| Operating Margin % | 11.5% | 7.9% | 9.0% | 8.6% | 5.0% |
| Non-Operating Items | |||||
| Interest Income | 77.3M | - | 63.6M | 63.2M | 40.0M |
| Interest Expense | 256.3M | 267.8M | 332.2M | 251.1M | 330.6M |
| Other Non-Operating Income | - | - | - | - | - |
| Pre-tax Income | 400.1M | 456.7M | 427.0M | 276.3M | 127.0M |
| Income Tax | 55.6M | 86.6M | 71.8M | 39.4M | -5.1M |
| Effective Tax Rate % | 13.9% | 19.0% | 16.8% | 14.3% | -4.0% |
| Net Income | 344.5M | 370.0M | 355.2M | 236.9M | 132.1M |
| Net Margin % | 6.3% | 6.1% | 5.2% | 4.4% | 2.7% |
| Key Metrics | |||||
| EBITDA | 925.3M | 889.2M | 930.9M | 695.3M | 647.5M |
| EPS (Basic) | ₹57.42 | ₹61.67 | ₹59.21 | ₹39.49 | ₹22.01 |
| EPS (Diluted) | ₹57.42 | ₹61.67 | ₹59.21 | ₹39.49 | ₹22.01 |
| Basic Shares Outstanding | 5999998 | 6000227 | 5999747 | 5999998 | 5999998 |
| Diluted Shares Outstanding | 5999998 | 6000227 | 5999747 | 5999998 | 5999998 |
Income Statement Trend
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Empire Industries Balance Sheet From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Assets | |||||
| Current Assets | |||||
| Cash & Equivalents | 1.3B | 753.3M | 678.4M | 486.9M | 428.1M |
| Short-term Investments | 65.7M | 59.7M | 78.2M | 60.2M | 54.2M |
| Accounts Receivable | 1.4B | 1.6B | 1.9B | 1.2B | 864.4M |
| Inventory | 963.5M | 1.1B | 1.1B | 1.1B | 1.3B |
| Other Current Assets | -2.0K | 127.7M | -2.0K | -2.0K | -2.0K |
| Total Current Assets | 3.9B | 3.7B | 4.0B | 3.2B | 3.1B |
| Non-Current Assets | |||||
| Property, Plant & Equipment | 261.9M | 3.1B | 378.7M | 351.4M | 494.0M |
| Goodwill | 4.9M | 6.5M | 5.5M | 7.2M | 5.9M |
| Intangible Assets | 4.9M | - | 5.5M | 7.2M | 5.9M |
| Long-term Investments | - | - | - | - | - |
| Other Non-Current Assets | 63.9M | 39.5M | 46.9M | 55.6M | -1.6M |
| Total Non-Current Assets | 3.6B | 3.6B | 3.4B | 3.8B | 4.0B |
| Total Assets | 7.5B | 7.3B | 7.4B | 7.1B | 7.1B |
| Liabilities | |||||
| Current Liabilities | |||||
| Accounts Payable | 390.0M | 298.3M | 409.0M | 204.5M | 194.2M |
| Short-term Debt | 765.9M | 1.0B | 676.7M | 870.9M | 984.3M |
| Current Portion of Long-term Debt | - | - | - | - | - |
| Other Current Liabilities | 61.3M | 436.2M | 114.9M | 28.3M | 53.7M |
| Total Current Liabilities | 2.2B | 2.5B | 2.2B | 1.9B | 2.1B |
| Non-Current Liabilities | |||||
| Long-term Debt | 738.8M | 660.4M | 1.1B | 1.4B | 1.6B |
| Deferred Tax Liabilities | 95.0M | 136.4M | 119.8M | 140.7M | 126.1M |
| Other Non-Current Liabilities | 29.0M | 182.6M | 29.1M | 29.6M | 30.1M |
| Total Non-Current Liabilities | 2.1B | 1.8B | 2.4B | 2.6B | 2.5B |
| Total Liabilities | 4.4B | 4.3B | 4.6B | 4.5B | 4.7B |
| Equity | |||||
| Common Stock | 60.0M | 60.0M | 60.0M | 60.0M | 60.0M |
| Retained Earnings | - | - | - | - | - |
| Treasury Stock | - | - | - | - | - |
| Other Equity | - | - | - | - | - |
| Total Shareholders Equity | 3.1B | 3.0B | 2.8B | 2.6B | 2.5B |
| Key Metrics | |||||
| Total Debt | 1.5B | 1.7B | 1.8B | 2.3B | 2.6B |
| Working Capital | 1.7B | 1.2B | 1.8B | 1.4B | 1.0B |
Balance Sheet Composition
Empire Industries Cash Flow Statement From 2021 to 2025
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Operating Activities | |||||
| Net Income | 400.1M | 456.7M | 427.0M | 276.3M | 127.0M |
| Depreciation & Amortization | - | - | - | - | - |
| Stock-Based Compensation | - | - | - | - | - |
| Working Capital Changes | -181.8M | 361.7M | -843.9M | -15.6M | 772.8M |
| Operating Cash Flow | 411.9M | 994.1M | -131.0M | 422.9M | 1.2B |
| Investing Activities | |||||
| Capital Expenditures | -60.8M | -109.3M | 238.3M | -89.5M | -74.1M |
| Acquisitions | 0 | 169.7M | 0 | 0 | 0 |
| Investment Purchases | - | -273.9M | -1.0M | - | - |
| Investment Sales | 172.2M | 38.0K | 0 | 0 | 0 |
| Investing Cash Flow | 111.5M | -213.4M | 237.3M | -89.5M | -74.1M |
| Financing Activities | |||||
| Share Repurchases | - | - | - | - | - |
| Dividends Paid | -150.0M | -150.0M | -39.1M | -39.1M | - |
| Debt Issuance | 259.0M | 375.5M | 15.2M | 121.0M | 194.5M |
| Debt Repayment | -429.2M | -474.8M | -538.5M | -226.1M | -649.3M |
| Financing Cash Flow | -320.2M | -249.3M | -562.4M | -144.2M | -454.7M |
| Free Cash Flow | 857.9M | 629.8M | 723.1M | 429.8M | 947.1M |
| Net Change in Cash | 203.2M | 531.4M | -456.0M | 189.1M | 679.4M |
Cash Flow Trend
Empire Industries Key Financial Ratios
Valuation Ratios
P/E Ratio (TTM)
14.91
Forward P/E
8.34
Price to Book
1.70
Price to Sales
0.77
PEG Ratio
23.76
Profitability Ratios
Profit Margin
5.13%
Operating Margin
6.98%
Return on Equity
10.97%
Return on Assets
4.59%
Financial Health
Current Ratio
1.50
Debt to Equity
56.03
Beta
-0.10
Per Share Data
EPS (TTM)
₹61.77
Book Value per Share
₹542.53
Revenue per Share
₹1,203.70
Peer Financial Comparison
| Company | Market Cap | P/E Ratio | P/B Ratio | ROE | Profit Margin | Debt/Equity |
|---|---|---|---|---|---|---|
| EMPIND | 5.5B | 14.91 | 1.70 | 10.97% | 5.13% | 56.03 |
| SRF | 739.1B | 41.51 | 5.57 | 9.91% | 11.49% | 34.72 |
| Tube Investments of | 574.6B | 97.97 | 7.78 | 8.76% | 2.82% | 27.72 |
| Sindhu Trade Links | 36.9B | 188.58 | 3.35 | -0.68% | -15.80% | 20.43 |
| MSTC | 31.1B | 14.69 | 3.83 | 55.13% | 63.80% | 17.46 |
| Balmer Lawrie | 30.7B | 11.42 | 1.57 | 13.37% | 10.35% | 12.10 |
Financial data is updated regularly. All figures are in the company's reporting currency.





