Emkay Global Q4 FY26 Revenue Surges 99%; Audited Results Published Under Regulation 47
Emkay Global Financial Services reported audited Q4 FY26 consolidated income from operations of ₹14,838.80 Lakhs, up 109% YoY, with profit before tax surging to ₹960.04 Lakhs from ₹95.33 Lakhs. Full-year FY26 consolidated income from operations stood at ₹37,695.62 Lakhs with net worth at ₹38,067.13 Lakhs. The results were published in Business Standard and Navshakti on May 16, 2026, pursuant to Regulation 47 of SEBI Listing Regulations.

*this image is generated using AI for illustrative purposes only.
Emkay Global Financial Services has released its audited financial results for the fourth quarter and financial year ended March 31, 2026, with the results published in Business Standard (English) and Navshakti (Marathi) on May 16, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company reported a significant surge in consolidated revenue for the quarter, driven by strong performance across its Institutional Equities and Investment Banking segments.
Q4 FY26 Consolidated Financial Performance
The company's consolidated audited results for the quarter ended March 31, 2026, reflect robust top-line growth. Total income from operations for Q4 FY26 stood at ₹14,838.80 Lakhs, a 109% increase compared to ₹7,104.22 Lakhs in Q4 FY25. Despite the revenue surge, net profit after tax (including share of profit/loss of associates) for the quarter was ₹565.69 Lakhs, compared to ₹848.50 Lakhs in Q4 FY25. Profit before tax for the quarter was ₹960.04 Lakhs, a sharp increase from ₹95.33 Lakhs in the prior year period. Total Comprehensive Income for Q4 FY26 stood at ₹572.23 Lakhs against ₹806.32 Lakhs in Q4 FY25.
The following table presents the key consolidated financial metrics for the quarter and sequential comparison:
| Metric (₹ in Lakhs) | Q4 FY26 (Audited) | Q3 FY26 (Unaudited) | Q4 FY25 (Audited) |
|---|---|---|---|
| Total Income from Operations | 14,838.80 | 8,707.65 | 7,104.22 |
| Profit Before Tax | 960.04 | 601.35 | 95.33 |
| Net Profit After Tax (incl. associates) | 565.69 | 430.15 | 848.50 |
| Total Comprehensive Income | 572.23 | 475.28 | 806.32 |
| Basic EPS (₹) | 2.20 | 1.68 | 3.40 |
| Diluted EPS (₹) | 2.05 | 1.59 | 3.28 |
Full Year FY26 Consolidated Performance
For the full financial year ended March 31, 2026, Emkay Global Financial Services reported total income from operations of ₹37,695.62 Lakhs, compared to ₹33,616.93 Lakhs in FY25. Net profit for the year (including share of profit/loss of associates) stood at ₹1,520.10 Lakhs, against ₹5,683.06 Lakhs in the previous year. Total Comprehensive Income for FY26 was ₹1,577.01 Lakhs compared to ₹5,559.00 Lakhs in FY25. The company's net worth as of March 31, 2026, was recorded at ₹38,067.13 Lakhs, up from ₹30,316.78 Lakhs in the prior year.
| Metric (₹ in Lakhs) | FY26 (Audited) | FY25 (Audited) |
|---|---|---|
| Total Income from Operations | 37,695.62 | 33,616.93 |
| Profit Before Tax | 2,119.12 | 6,073.07 |
| Net Profit After Tax (incl. associates) | 1,520.10 | 5,683.06 |
| Total Comprehensive Income | 1,577.01 | 5,559.00 |
| Net Worth | 38,067.13 | 30,316.78 |
| Equity Share Capital | 2,618.91 | 2,536.70 |
| Reserves (excl. Revaluation Reserve) | 35,448.22 | 27,780.08 |
| Paid-up Debt Capital | 9,020.00 | 4,600.00 |
| Debt Equity Ratio | 0.24 | 0.15 |
| Basic EPS (₹) | 5.92 | 22.80 |
| Diluted EPS (₹) | 5.51 | 21.95 |
| Debt Service Coverage Ratio | 2.73 | 10.98 |
| Interest Service Coverage Ratio | 2.73 | 10.98 |
Standalone Financial Performance
On a standalone basis, Emkay Global Financial Services reported revenue from operations of ₹14,355.66 Lakhs for Q4 FY26, compared to ₹6,925.00 Lakhs in Q4 FY25. Standalone profit before tax for the quarter was ₹1,225.43 Lakhs against ₹291.38 Lakhs in Q4 FY25, while profit after tax stood at ₹811.82 Lakhs compared to ₹1,095.69 Lakhs in the year-ago period. For the full year FY26, standalone revenue from operations was ₹34,898.88 Lakhs versus ₹31,531.61 Lakhs in FY25.
| Metric (₹ in Lakhs) | Q4 FY26 (Audited) | Q3 FY26 (Unaudited) | Q4 FY25 (Audited) | FY26 (Audited) | FY25 (Audited) |
|---|---|---|---|---|---|
| Revenue from Operations | 14,355.66 | 7,948.25 | 6,925.00 | 34,898.88 | 31,531.61 |
| Profit Before Tax | 1,225.43 | 433.86 | 291.38 | 1,638.94 | 6,104.47 |
| Profit After Tax | 811.82 | 313.08 | 1,095.69 | 1,190.14 | 5,891.28 |
| Total Comprehensive Income | 793.01 | 340.64 | 1,059.55 | 1,183.85 | 5,773.06 |
Business Segment Highlights
The Institutional Equities business facilitated 43 roadshows and 149 corporate interactions during the year. The Investment Banking division completed five ECM transactions aggregating ₹41,781.5 million, including IPOs for Innovision Limited and Amirchand Jagdish Kumar Exports Limited. In Asset Management, the overall Assets Under Management (AUM) grew by approximately 30% to cross the ₹15,500 million mark. The PMS platform expanded by 31%, while the AIF AUM grew by 28%. The Wealth Management business faced a challenging environment with pressure on Assets Under Management and revenues due to global uncertainties and volatile market conditions.
Regulatory Compliance
The audited financial results were prepared in accordance with Indian Accounting Standard (Ind AS) 34 — Interim Financial Reporting, prescribed under Section 133 of the Companies Act, 2013, and in compliance with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The full format of the audited standalone and consolidated financial results is available on the stock exchange websites and on the company's website at www.emkayglobal.com .
Historical Stock Returns for Emkay Global Financial Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -2.89% | -12.52% | -28.54% | -1.46% | +193.07% |
Given the sharp decline in full-year net profit (₹1,520 Lakhs vs ₹5,683 Lakhs) despite revenue growth, what cost pressures or one-time charges could continue to weigh on Emkay Global's profitability in FY27?
With the debt-equity ratio nearly doubling to 0.24 and paid-up debt capital rising to ₹9,020 Lakhs, how might Emkay Global deploy this capital to sustain its Investment Banking and ECM pipeline in the coming quarters?
As Wealth Management faces headwinds from global uncertainties and volatile markets, what strategic pivots could Emkay Global pursue to stabilize AUM and revenue in this segment going forward?
























