Emkay Global Q4 FY26: Revenue Jumps, Profit Falls

What the latest results tell investors

Emkay Global Financial Services Limited reported earnings for the fourth quarter and full year ended March 31, 2026, showing a sharp jump in revenue but weaker profitability. The update comes at a time when the stock has seen mixed performance across timeframes, with a sharp rebound on some sessions but a negative move year-to-date in other data points. The company operates across capital market and financial services activities, including broking, distribution, investment advisory, and financing and investment activities.

The results highlight a key divergence: revenue expanded strongly year-on-year in Q4, but net income declined both for the quarter and for the full year. The data set also includes multiple snapshots of market metrics such as dividend yield, market capitalisation, and price levels, which help frame how the market has been pricing the stock.

Q4 FY26 performance: revenue doubled year-on-year

For the fourth quarter ended March 31, 2026, Emkay Global reported revenue of ₹153.20 crore, compared with ₹76.86 crore a year ago. Net income for the quarter came in at ₹5.66 crore, versus ₹8.49 crore in the same quarter last year.

Earnings per share (EPS) also declined. Basic EPS from continuing operations was ₹2.20, compared with ₹3.40 a year ago. Diluted EPS from continuing operations was ₹2.05, compared with ₹3.28 a year ago. The combination of rising revenue and falling profit implies margin pressure in the quarter, consistent with the separate note in the data that profit margins were 5.8%, lower than 15.7% last year.

FY26 full-year numbers: profit down despite higher revenue

For the full year ended March 31, 2026, Emkay Global reported revenue of ₹396.29 crore, up from ₹361.24 crore a year ago. Net income, however, dropped sharply to ₹15.20 crore, compared with ₹56.83 crore in the prior year.

Basic EPS from continuing operations for the full year was ₹5.92, down from ₹22.80 a year ago. Diluted EPS was ₹5.51, down from ₹21.95. Separately, the dataset shows TTM EPS of 6.65, with a -71.76% YoY change, which aligns with the broader picture of weaker earnings versus the earlier period.

December 2025 sales update and recent quarterly trend

In a separate update dated January 28, 2026, Emkay Global’s consolidated December 2025 net sales were reported at ₹87.08 crore, up 13.85% year-on-year. Standalone December 2025 net sales were ₹79.48 crore, up 10.77% year-on-year.

The dataset also points to a weaker September 2025 quarter on a year-on-year basis. Standalone September 2025 net sales were ₹63.57 crore, down 36.87% year-on-year, while consolidated September 2025 net sales were ₹72.09 crore, down 33.27% year-on-year. In contrast, earlier reported figures show consolidated September 2024 net sales at ₹108.03 crore, up 53.14% year-on-year, and consolidated June 2024 net sales at ₹81.66 crore, up 75.05% year-on-year.

Key numbers at a glance

Stock price and trading snapshots mentioned

The dataset includes multiple price snapshots. One table shows ₹220.75 with +13.41%, a 5-day change of +1.11%, and a 1st Jan change of -22.48%. Elsewhere, a “Current Share Price” snapshot shows ₹217.59. Another snapshot shows the stock at ₹243.75 on February 26, 2026, up 4.31%, and another shows ₹255.75 on February 9, 2026.

A separate note says the stock had declined 14% over the past three months, versus roughly 3% falls in both the Nifty and the BSE Sensex over the same period, while its one-year return moderated to about 3%. Another return snapshot lists 1W +4.17%, 1M -9.42%, 3M -14.43%, 1Y +3.31%, and YTD -12.74%.

Corporate actions: dividend history in the dataset

The corporate actions section lists a dividend and special dividend in 2025. It shows Dividend of ₹1.50 per share and a Special Dividend of ₹2.50 per share, with an ex-date of 04-Aug-2025. The table also records dividend-related entries for prior years, including an annual general meeting and dividend ₹1.50 (01-Aug-2024), Re 1 (03-Aug-2023), and ₹1.25 (29-Jul-2022).

Dividend yield figures vary across the dataset, including 0.64%, 0.69%, 0.7%, and 2.06%. The dataset also flags that the “dividend of 0.69% is not well covered by free cash flows,” which is presented as a risk note.

Fund raising, debentures, and share allotment disclosures

The dataset references multiple corporate disclosures. It notes that the board was scheduled to meet on 22-Sep-2025 to consider raising funds via an issue of securities on a preferential basis, and a separate disclosure mentions a board meeting scheduled on 09-Dec-2025 to consider issuance of unsecured non-convertible debentures on a private placement basis.

It also states that Emkay Global Financial Services approved allotment of 4,420 senior, unsecured, listed, rated, transferable, redeemable non-convertible debentures, and that the company was to raise ₹44.20 crore through a debenture issue (converted from INR 442 million). Another update under Regulation 30 (LODR) refers to the allotment of 378,300 equity shares by the company’s management committee pursuant to exercise of an instrument (the disclosure text in the dataset is truncated).

Investor and shareholding mentions

The dataset states that veteran investor Madhu Kela bought a stake in Emkay Global, while ace investor Dolly Khanna trimmed her holding. It describes Kela’s entry as being watched closely and frames Khanna’s move as portfolio rebalancing, while also noting that the company’s shares rose on the news.

On ownership, one snapshot lists promoter holding at 71.91%. The dataset also describes the company as incorporated in 1995 and operating in capital market services, and notes it has 300+ clients.

Why the results matter: revenue up, earnings down

The key takeaway from the FY26 results is that revenue growth did not translate into higher earnings, with net income and EPS falling sharply year-on-year. With profit margins cited at 5.8% versus 15.7% last year, the market will likely focus on how the revenue mix, costs, and financial income or expenses evolved during the period.

The dataset also lists balance-sheet and valuation indicators such as Stock P/E 34.5, Book Value ₹116, ROCE 20.4%, and ROE 20.9% in one snapshot, along with a note on contingent liabilities of ₹270 crore and “earnings include other income of ₹20.3 crore.” These items provide context for how investors may assess the quality and sustainability of earnings in periods when EPS is volatile.

Conclusion

Emkay Global’s FY26 print shows higher revenue in both Q4 and the full year, but a clear decline in net income and EPS compared with the previous year. Alongside the results, the dataset points to recent capital market actions, including debenture issuance activity and an equity share allotment disclosure under Regulation 30. Investors tracking the stock will likely watch for subsequent filings and updates, including any further disclosures tied to capital raising and post-result business performance.