Emerald Finance Ltd

EMERALD

Watchlist

AI Mode

‌

Market Cap

₹ 256 Cr

P/E

21.49

‌

‌
‌

‌

‌
‌

Investment Checklist

How to read checklist?

Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

‌
‌

‌

Price

PE Ratio

Price

‌

Overview

Detailed Summary

Emerald Finance Limited is a Chandigarh-based non-deposit taking NBFC focusing on retail and MSME lending, acting as a loan origination platform for numerous institutions.

The company has seen significant growth, with a 45.04% increase in total income in H1 FY26 compared to H1 FY25, reflecting scaling operations and increased efficiencies.

A key differentiator for Emerald is its Early Wage Access platform, which offers employees the ability to access earned wages, contributing to an innovative product line-up.

The management reports a commitment to digital finance, leveraging technology for processes and customer engagement, supported by their asset-light, technology-driven lending model.

The financial strength is bolstered by a strategic partner ecosystem and an asset-light model allowing scalability without excessive capital investment.

Sector

Finance

Industry

NBFC-Others

Market Cap

256 Cr

Volatility

Low Risk

P/E Ratio

21.5

Industry P/E

34.5

PEG Ratio

0.4

P/B Ratio

2.8

52W High

167.65

52W Low

70.04

Sales CAGR

61.99%

48.60%

49.55%

10Y

39.40%

Profit CAGR

118.36%

59.56%

62.65%

10Y

62.79%

ROE

TTM

13.13%

9.34%

8.80%

10Y

8.65%

ROCE

TTM

17.88%

12.87%

12.18%

10Y

11.99%

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VAARAD	11.00	275 Cr	—	12.42	0.00	-0.79	-0.67	-0.60
STARTECK	274.95	272 Cr	16.18	1.07	0.09	6.27	7.27	2.76
SERA	40.74	267 Cr	—	0.66	0.00	-0.56	-0.34	-0.47
PURPLEFIN	48.80	263 Cr	—	2.42	0.00	-11.26	-5.35	-6.24
TEAMGTY	286.50	258 Cr	101.96	5.26	0.00	5.15	6.40	5.15
EMERALD	74.14	256 Cr	21.49	2.82	0.20	13.13	17.88	10.43
UYFINCORP	14.05	244 Cr	—	0.98	0.00	-0.27	-0.22	-0.21

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	2.78	3.24	3.42	3.89	4.39	5.00	5.72	6.45	6.71	6.90
Expenses	1.41	1.73	1.39	1.82	1.45	1.50	1.66	1.95	1.80	1.48
Interest	0.22	0.26	0.44	0.50	0.66	0.76	0.77	0.71	0.68	0.61
Financing Profit	1.15	1.25	1.59	1.57	2.28	2.74	3.29	3.79	4.23	4.81
Financing Margin %	41.37	38.58	46.49	40.36	51.94	54.80	57.52	58.76	63.04	69.71
Other Income	0.00	0.02	0.00	0.02	0.01	0.01	0.02	0.04	0.03	0.00
Depreciation	0.00	0.00	0.00	0.06	0.00	0.00	0.00	0.08	0.00	0.00
Profit Before Tax	1.15	1.27	1.59	1.52	2.29	2.75	3.31	3.75	4.27	4.81
Tax %	25.22	25.20	25.79	25.66	25.33	25.09	25.08	29.33	25.06	25.16
Net Profit	0.86	0.95	1.19	1.13	1.71	2.06	2.48	2.65	3.19	3.60
EPS in Rs	0.24	0.28	0.35	0.33	0.50	0.60	0.71	0.77	0.92	1.04
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	1.73	4.37	6.70	7.82	5.44	8.46	12	13	22	24
Expenses	1.44	3.56	4.90	5.76	3.12	4.58	5.95	6.30	6.57	6.91
Interest	0.00	0.04	0.16	0.44	0.39	0.51	0.84	1.42	2.90	2.92
Financing Profit	0.29	0.77	1.64	1.62	1.93	3.37	4.72	5.61	12	14
Financing Margin %	16.64	17.56	24.45	20.77	35.50	39.84	41.03	42.08	56.12	58.84
Other Income	0.00	0.01	0.02	0.05	0.01	0.05	0.04	0.04	0.06	0.10
Depreciation	0.01	0.02	0.03	0.03	0.03	0.04	0.03	0.06	0.08	0.08
Profit Before Tax	0.27	0.76	1.63	1.64	1.91	3.38	4.74	5.58	12	14
Tax %	29.88	25.80	27.25	21.29	26.05	25.81	25.23	25.84	25.25	26.28
Net Profit	0.19	0.56	1.18	1.29	1.39	2.48	3.48	4.14	9.04	10
EPS in Rs	—	—	0.34	0.37	0.40	0.73	0.99	1.20	2.58	3.44
Dividend Payout %	0.00	0.00	0.00	17.52	6.49	11.74	8.67	7.28	5.83	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.05	3.05	3.05	9.04	9.04	9.04	29	30	30	35
Reserves	0.20	1.14	2.27	4.89	5.87	7.12	8.82	13	17	50
Borrowings	0.00	0.00	0.83	0.94	2.59	2.69	4.85	5.37	15	16
Other Liabilities	0.09	0.53	1.18	1.22	2.09	3.80	3.13	3.18	3.44	5.59
Total Liabilities	3.34	4.71	7.32	16	20	23	46	52	65	106
Fixed Assets	0.02	0.03	0.04	0.08	0.08	0.05	0.28	0.26	0.60	0.68
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.04
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.30	0.47	0.05	0.05
Other Assets	3.32	4.68	7.28	16	20	23	45	51	64	105
Total Assets	3.34	4.71	7.32	16	20	23	46	52	65	106

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.48	0.08	-4.94	-3.71	2.58	-23	1.51	-11	-13
Cash from Investing Activity	-0.92	-0.09	-0.07	-0.22	-0.05	-0.43	-0.24	-0.03	-0.26
Cash from Financing Activity	1.80	1.36	7.55	1.21	-0.04	21	3.30	7.74	28
Net Cash Flow	0.40	1.35	2.54	-2.72	2.49	-2.11	4.57	-3.58	15

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	67.80%	67.80%	67.80%	67.80%	67.80%	67.80%	67.80%	62.35%	60.51%	59.50%	59.50%	59.50%
FIIs	0.66%	0.71%	0.71%	0.71%	1.31%	1.31%	1.31%	9.15%	9.78%	9.36%	5.96%	1.74%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	31.54%	31.49%	31.49%	31.49%	30.90%	30.90%	30.90%	28.49%	29.72%	31.15%	34.54%	38.76%
Total Shareholders	2,509	2,976	3,289	3,493	4,209	4,332	4,331	6,414	8,371	9,883	10,287	10,989

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Feb 06, 2025	Anu aggarwal	Insider - Promoter	Disposal	129.62	18.54 Cr	14,30,289	4.23
Feb 06, 2025	Sanjay aggarwal	Insider - Promoter & Director	Acquisition	129.62	18.54 Cr	14,30,289	4.23
Jul 19, 2024	Monikamehta	Bulk	Sell	57.07	1.07 Cr	1,87,871	0.54
Mar 04, 2024	Harinderkumarsahu	Bulk	Sell	27.26	0.44 Cr	1,59,743	0.46
Mar 04, 2024	Harinderkumarsahu	Bulk	Buy	28.29	0.02 Cr	5,541	0.01
Oct 13, 2023	Bp equities pvt. ltd.	Bulk	Buy	23.23	0.49 Cr	2,09,558	0.60
Oct 13, 2023	Rainpay india private limited	Bulk	Sell	23.15	1.01 Cr	4,38,364	1.26
Oct 13, 2023	Bp equities pvt. ltd.	Bulk	Sell	23.20	0.47 Cr	2,01,558	0.58

Projection

Actions

Action Type

‌
‌

Announcements

Last 7 days

Newest

Sentiment

Corporate Action

5 days ago

Emerald Finance Partners with Odin Healthcare

Emerald Finance Limited has partnered with Odin Healthcare to provide an Early Wage Access program for its employees, allowing them to access part of their salaries throughout the month.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q1 FY25

AI Mode

Get instant AI-powered insights about company performance, financials, and strategy. Ask questions about trends, competition, and developments while receiving responses backed by official documents and market data, with clear attribution to source documents.

AI Mode

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	2.78	3.24	3.42	3.89	4.39	5.00	5.72	6.45	6.71	6.90
Expenses	1.41	1.73	1.39	1.82	1.45	1.50	1.66	1.95	1.80	1.48
Interest	0.22	0.26	0.44	0.50	0.66	0.76	0.77	0.71	0.68	0.61
Financing Profit	1.15	1.25	1.59	1.57	2.28	2.74	3.29	3.79	4.23	4.81
Financing Margin %	41.37	38.58	46.49	40.36	51.94	54.80	57.52	58.76	63.04	69.71
Other Income	0.00	0.02	0.00	0.02	0.01	0.01	0.02	0.04	0.03	0.00
Depreciation	0.00	0.00	0.00	0.06	0.00	0.00	0.00	0.08	0.00	0.00
Profit Before Tax	1.15	1.27	1.59	1.52	2.29	2.75	3.31	3.75	4.27	4.81
Tax %	25.22	25.20	25.79	25.66	25.33	25.09	25.08	29.33	25.06	25.16
Net Profit	0.86	0.95	1.19	1.13	1.71	2.06	2.48	2.65	3.19	3.60
EPS in Rs	0.24	0.28	0.35	0.33	0.50	0.60	0.71	0.77	0.92	1.04
Gross NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net NPA %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Revenue	1.73	4.37	6.70	7.82	5.44	8.46	12	13	22	24
Expenses	1.44	3.56	4.90	5.76	3.12	4.58	5.95	6.30	6.57	6.91
Interest	0.00	0.04	0.16	0.44	0.39	0.51	0.84	1.42	2.90	2.92
Financing Profit	0.29	0.77	1.64	1.62	1.93	3.37	4.72	5.61	12	14
Financing Margin %	16.64	17.56	24.45	20.77	35.50	39.84	41.03	42.08	56.12	58.84
Other Income	0.00	0.01	0.02	0.05	0.01	0.05	0.04	0.04	0.06	0.10
Depreciation	0.01	0.02	0.03	0.03	0.03	0.04	0.03	0.06	0.08	0.08
Profit Before Tax	0.27	0.76	1.63	1.64	1.91	3.38	4.74	5.58	12	14
Tax %	29.88	25.80	27.25	21.29	26.05	25.81	25.23	25.84	25.25	26.28
Net Profit	0.19	0.56	1.18	1.29	1.39	2.48	3.48	4.14	9.04	10
EPS in Rs	—	—	0.34	0.37	0.40	0.73	0.99	1.20	2.58	3.44
Dividend Payout %	0.00	0.00	0.00	17.52	6.49	11.74	8.67	7.28	5.83	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	3.05	3.05	3.05	9.04	9.04	9.04	29	30	30	35
Reserves	0.20	1.14	2.27	4.89	5.87	7.12	8.82	13	17	50
Borrowings	0.00	0.00	0.83	0.94	2.59	2.69	4.85	5.37	15	16
Other Liabilities	0.09	0.53	1.18	1.22	2.09	3.80	3.13	3.18	3.44	5.59
Total Liabilities	3.34	4.71	7.32	16	20	23	46	52	65	106
Fixed Assets	0.02	0.03	0.04	0.08	0.08	0.05	0.28	0.26	0.60	0.68
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.04
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.30	0.47	0.05	0.05
Other Assets	3.32	4.68	7.28	16	20	23	45	51	64	105
Total Assets	3.34	4.71	7.32	16	20	23	46	52	65	106

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.48	0.08	-4.94	-3.71	2.58	-23	1.51	-11	-13
Cash from Investing Activity	-0.92	-0.09	-0.07	-0.22	-0.05	-0.43	-0.24	-0.03	-0.26
Cash from Financing Activity	1.80	1.36	7.55	1.21	-0.04	21	3.30	7.74	28
Net Cash Flow	0.40	1.35	2.54	-2.72	2.49	-2.11	4.57	-3.58	15

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Overview

Detailed Summary

Emerald Finance Limited is a Chandigarh-based non-deposit taking NBFC focusing on retail and MSME lending, acting as a loan origination platform for numerous institutions.

The company has seen significant growth, with a 45.04% increase in total income in H1 FY26 compared to H1 FY25, reflecting scaling operations and increased efficiencies.

A key differentiator for Emerald is its Early Wage Access platform, which offers employees the ability to access earned wages, contributing to an innovative product line-up.

The management reports a commitment to digital finance, leveraging technology for processes and customer engagement, supported by their asset-light, technology-driven lending model.

The financial strength is bolstered by a strategic partner ecosystem and an asset-light model allowing scalability without excessive capital investment.

Sector

Finance

Industry

NBFC-Others

Market Cap

256 Cr

Volatility

Low Risk

P/E Ratio

21.5

Industry P/E

34.5

PEG Ratio

0.4

P/B Ratio

2.8

52W High

167.65

52W Low

70.04

Sales CAGR

61.99%

48.60%

49.55%

10Y

39.40%

Profit CAGR

118.36%

59.56%

62.65%

10Y

62.79%

ROE

TTM

13.13%

9.34%

8.80%

10Y

8.65%

ROCE

TTM

17.88%

12.87%

12.18%

10Y

11.99%

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
VAARAD	11.00	275 Cr	—	12.42	0.00	-0.79	-0.67	-0.60
STARTECK	274.95	272 Cr	16.18	1.07	0.09	6.27	7.27	2.76
SERA	40.74	267 Cr	—	0.66	0.00	-0.56	-0.34	-0.47
PURPLEFIN	48.80	263 Cr	—	2.42	0.00	-11.26	-5.35	-6.24
TEAMGTY	286.50	258 Cr	101.96	5.26	0.00	5.15	6.40	5.15
EMERALD	74.14	256 Cr	21.49	2.82	0.20	13.13	17.88	10.43
UYFINCORP	14.05	244 Cr	—	0.98	0.00	-0.27	-0.22	-0.21