About Indian Emulsifier
Indian Emulsifier is a publicly listed company based in Mumbai (India) founded in 2021. It operates as a manufacturer and supplier of specialty chemicals for food, pharmaceuticals, personal care, cosmetics, home care, and industrial cleaning industries. Its Indian entity Indian Emulsifiers Limited reported revenue of ₹103 Cr. Indian Emulsifier offers products and services including Speciality Chemicals and Lube Additives. Its focus areas include Real Estate and Construction, Construction Chemicals and Chemicals and Materials.
Company details
Indian Emulsifiers Ltd. was established in 2021 and is based in Mumbai, India. Emulsifiers and other specialty chemicals are produced at a multipurpose facility in Maharashtra. These products are supplied to sectors including food, pharmaceuticals, personal care, cosmetics, home care, and industrial cleaning. Operations are structured to accommodate varied customer specifications across these industries.
- Headquarters Mumbai, India
- Stage Public
- SectorsChemicals & Materials
- Email••••••••
- Phone•••• ••••
- Website indianemulsifiers.com
- Legal Name Indian Emulsifiers Ltd.
- Market Cap₹75.72 Cr
IEML-ST · NSE
- Share Price₹41.00
-0.73% today
- Revenue₹160 Cr
FY 2025-26 · +57.9% YoY
- EBITDA₹25.85 Cr
Margin 16.2%
- Net Profit₹16.25 Cr
FY 2025-26 · +22.2% YoY
- P/E (TTM)3.9x
P/B 0.5x
Associated legal entities of Indian Emulsifier
Indian Emulsifier is associated with 2 registered companies on The Company Check; the primary company is Indian Emulsifiers Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Indian Emulsifiers Limited Listed CIN L46691MH2020PLC351364 | Active | 05 Dec 2020 | Mumbai, Maharashtra | ₹103 Cr | 24 | 7 | View details |
| Indian Emulsifiers Limited CIN U46691MH2020PLC351364 | – | 05 Dec 2020 | Mumbai, Maharashtra, India | – | – | – | View details |
Products & Services of Indian Emulsifier
Indian Emulsifier offers a comprehensive portfolio of products and services, including Speciality Chemicals and Lube Additives.
Speciality chemicals are manufactured for the food industry and other sectors.
Lube additives are supplied for industrial and textile applications.
Board of directors of Indian Emulsifiers Limited (Indian Emulsifier)
Indian Emulsifiers Limited is the primary company behind Indian Emulsifier. The board of Indian Emulsifiers Limited currently have 5 directors; the longest-serving is Yash Sunil Tikekar, appointed in 2020. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Yash Sunil Tikekar DIN 02206485 | Managing Director | 05 Dec 2020 | 5 yrs 10 mo | Indian Emulsifiers Limited |
| Rajesh Madhukar Joshi DIN 06533262 | Director | 27 Nov 2023 | 2 yrs 10 mo | Indian Emulsifiers Limited |
| Rajaram Gordhanlal Agarwal DIN 10384386 | Director | 27 Nov 2023 | 2 yrs 10 mo | Indian Emulsifiers Limited |
| Abhay Tikekar DIN 10425123 | Director | 27 Dec 2023 | 2 yrs 9 mo | Indian Emulsifiers Limited |
| Vaishali Dipen Tarsariya DIN 10435220 | Director | 27 Dec 2023 | 2 yrs 9 mo | Indian Emulsifiers Limited |
IPO & Listings of Indian Emulsifier
Indian Emulsifier is a publicly listed company on the NSE with ticker symbol IEML in India, operating in the Process industries sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date22 May 2024
- Listed onNSE: IEML
- Listed entityIndian Emulsifiers Ltd.
- Exchange sectorProcess industries
- ISININE0RRU01016
- Share price₹39.25 (-1.88% on the day) · 2026-10-14
- Market capitalisation₹73.3 Cr
- Price to earnings3.4
- EPS (diluted, trailing year)₹11.52
- Volume (last session)249,500
Financials of Indian Emulsifier
Exchange-reported figures of Indian Emulsifiers Limited, the listed company behind Indian Emulsifier (NSE: IEML-ST).
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Income statement | |||
| Revenue | 160 | 101 | 66.68 |
| Revenue growth | +57.9% | +51.8% | - |
| EBITDA | 25.85 | 19.63 | 14.79 |
| EBITDA margin | +16.2% | +19.4% | +22.2% |
| Profit before tax | 19.93 | 16.42 | 10.82 |
| Net profit | 16.25 | 13.30 | 8.82 |
| Net profit margin | +10.2% | +13.1% | +13.2% |
| EPS (₹) | 8.80 | 10.88 | 9.79 |
| Balance sheet | |||
| Total assets | 202 | 108 | 52.09 |
| Net worth | 147 | 82.03 | 28.44 |
| Total debt | 55.11 | 25.60 | 23.60 |
| Cash & bank | 7.78 | 0.07 | 0.09 |
| Net working capital | 125 | 66.48 | 31.39 |
| Cash flow | |||
| Cash from operations | 244 | (16.55) | 0.35 |
| Cash from investing | (39.06) | (23.32) | (7.90) |
| Cash from financing | 74.76 | 39.85 | 7.61 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | 160 | 101 | 66.68 | 41.18 | 17.68 | 0.00 |
| Revenue growth | +57.9% | +51.8% | +61.9% | +132.9% | - | - |
| EBITDA | 25.79 | 19.63 | 14.79 | 7.86 | 0.80 | 0.00 |
| EBITDA margin | +16.1% | +19.4% | +22.2% | +19.1% | +4.5% | - |
| Profit before tax | 19.87 | 16.42 | 10.82 | 4.63 | 0.12 | 0.00 |
| Net profit | 16.21 | 13.30 | 8.82 | 3.89 | 0.04 | 0.00 |
| Net profit margin | +10.1% | +13.1% | +13.2% | +9.5% | +0.2% | - |
| EPS (₹) | 8.76 | 10.88 | 9.79 | 6.48 | 0.07 | (3.70) |
| Balance sheet | ||||||
| Total assets | 202 | 108 | 52.09 | 32.37 | 18.85 | 0.60 |
| Net worth | 147 | 82.03 | 28.44 | 12.04 | 8.15 | 0.01 |
| Total debt | 55.10 | 25.60 | 23.60 | 20.31 | 10.69 | 0.59 |
| Cash & bank | 7.55 | 0.07 | 0.09 | 0.03 | 0.03 | 0.04 |
| Net working capital | 125 | 66.48 | 31.39 | 19.64 | 9.09 | 0.60 |
| Cash flow | ||||||
| Cash from operations | (28.12) | (16.55) | 0.35 | 0.19 | (5.76) | 0.03 |
| Cash from investing | (39.15) | (23.32) | (7.90) | (0.19) | (2.35) | 0.00 |
| Cash from financing | 74.75 | 39.85 | 7.61 | 0.00 | 8.10 | 0.01 |
| Particulars | Mar 2024 | Dec 2023 |
|---|---|---|
| Revenue | 18.00 | 13.60 |
| Other income | 0.01 | 0.03 |
| Total expenses | 14.40 | 8.91 |
| EBITDA | 3.60 | 4.69 |
| EBITDA margin | +20.0% | +34.5% |
| Depreciation | 0.49 | 0.43 |
| Interest | 0.43 | 0.80 |
| Profit before tax | 2.69 | 3.49 |
| Tax | 0.61 | 0.56 |
Financial Statements
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Revenue | 160 | 101 | 66.68 |
| Revenue growth | +57.9% | +51.8% | - |
| Other income | 0.36 | 1.43 | 0.04 |
| Total expenses | 134 | 81.60 | 51.89 |
| Employee cost | 0.00 | 0.24 | 0.36 |
| EBITDA | 25.85 | 19.63 | 14.79 |
| EBITDA margin | +16.2% | +19.4% | +22.2% |
| Depreciation | 2.64 | 2.23 | 1.69 |
| Interest | 3.64 | 2.41 | 2.32 |
| Profit before tax | 19.93 | 16.42 | 10.82 |
| Tax | 3.68 | 3.12 | 2.00 |
| Net profit | 16.25 | 13.30 | 8.82 |
| Net profit margin | +10.2% | +13.1% | +13.2% |
| EPS (₹) | 8.80 | 10.88 | 9.79 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Equity & liabilities | |||
| Share capital | 18.33 | 12.22 | 9.01 |
| Reserves & surplus | 129 | 69.81 | 19.43 |
| Shareholders' funds (net worth) | 147 | 82.03 | 28.44 |
| Minority interest | 0.00 | 0.00 | 0.00 |
| Secured loans | 47.44 | 23.84 | 17.01 |
| Unsecured loans | 7.67 | 1.76 | 6.59 |
| Total debt | 55.11 | 25.60 | 23.60 |
| Total liabilities | 202 | 108 | 52.09 |
| Assets | |||
| Gross block | 60.66 | 24.28 | 20.29 |
| Net block | 52.71 | 18.98 | 17.21 |
| Capital work in progress | 23.02 | 21.39 | 2.76 |
| Investments | 0.05 | 0.00 | 0.00 |
| Inventories | 64.45 | 36.41 | 20.99 |
| Sundry debtors | 57.34 | 30.61 | 18.53 |
| Cash & bank balances | 7.78 | 0.07 | 0.09 |
| Loans & advances | 27.81 | 9.03 | 3.46 |
| Total current assets | 157 | 76.12 | 43.07 |
| Total current liabilities | 32.52 | 9.64 | 11.68 |
| Net working capital | 125 | 66.48 | 31.39 |
| Total assets | 202 | 108 | 52.09 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Opening cash | 0.07 | 0.09 | 0.03 |
| Net cash from operating activities | 244 | (16.55) | 0.35 |
| Net cash from investing activities | (39.06) | (23.32) | (7.90) |
| Net cash from financing activities | 74.76 | 39.85 | 7.61 |
| Net change in cash | 280 | (0.02) | 0.06 |
| Closing cash | 7.78 | 0.07 | 0.09 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Growth | |||
| Sales growth | +57.9% | +51.8% | - |
| EBITDA growth | +31.7% | +32.7% | - |
| PBT growth | +21.4% | +51.8% | +9997.0% |
| Net income growth | +22.2% | +50.8% | - |
| Profitability & leverage | |||
| Net income margin | +10.2% | +13.1% | +13.2% |
| Return on capital employed | - | +23.6% | +25.2% |
| Return on net worth | - | +24.1% | +31.0% |
| Debt / equity | - | 0.45 | 0.83 |
| Long-term debt / equity | - | 0.18 | 0.47 |
| Interest cover | 15.68 | 13.85 | 17.71 |
| Efficiency & per share | |||
| Fixed asset turnover | - | 4.54 | 3.29 |
| Inventory turnover | - | 3.53 | 3.18 |
| Debtors turnover | - | 4.12 | 3.60 |
| EPS (₹) | 8.80 | 10.88 | 9.79 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 67.12 | 31.56 |
| Particulars | Mar 2024 | Dec 2023 |
|---|---|---|
| Revenue | 18.00 | 13.60 |
| Other income | 0.01 | 0.03 |
| Total expenses | 14.40 | 8.91 |
| EBITDA | 3.60 | 4.69 |
| EBITDA margin | +20.0% | +34.5% |
| Depreciation | 0.49 | 0.43 |
| Interest | 0.43 | 0.80 |
| Profit before tax | 2.69 | 3.49 |
| Tax | 0.61 | 0.56 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Revenue | 160 | 101 | 66.68 | 41.18 | 17.68 | 0.00 |
| Revenue growth | +57.9% | +51.8% | +61.9% | +132.9% | - | - |
| Other income | 0.36 | 1.43 | 0.04 | 0.00 | 0.00 | 0.00 |
| Total expenses | 134 | 81.60 | 51.89 | 33.32 | 16.88 | 0.00 |
| Employee cost | 0.00 | 0.24 | 0.36 | 0.33 | 0.97 | 0.00 |
| EBITDA | 25.79 | 19.63 | 14.79 | 7.86 | 0.80 | 0.00 |
| EBITDA margin | +16.1% | +19.4% | +22.2% | +19.1% | +4.5% | - |
| Depreciation | 2.64 | 2.23 | 1.69 | 1.18 | 0.21 | 0.00 |
| Interest | 3.64 | 2.41 | 2.32 | 2.05 | 0.47 | 0.00 |
| Profit before tax | 19.87 | 16.42 | 10.82 | 4.63 | 0.12 | 0.00 |
| Tax | 3.66 | 3.12 | 2.00 | 0.74 | 0.08 | 0.00 |
| Net profit | 16.21 | 13.30 | 8.82 | 3.89 | 0.04 | 0.00 |
| Net profit margin | +10.1% | +13.1% | +13.2% | +9.5% | +0.2% | - |
| EPS (₹) | 8.76 | 10.88 | 9.79 | 6.48 | 0.07 | (3.70) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Equity & liabilities | ||||||
| Share capital | 18.33 | 12.22 | 9.01 | 8.11 | 8.11 | 0.01 |
| Reserves & surplus | 129 | 69.81 | 19.43 | 3.93 | 0.04 | 0.00 |
| Shareholders' funds (net worth) | 147 | 82.03 | 28.44 | 12.04 | 8.15 | 0.01 |
| Secured loans | 47.44 | 23.84 | 17.01 | 15.52 | 9.75 | 0.00 |
| Unsecured loans | 7.66 | 1.76 | 6.59 | 4.79 | 0.94 | 0.59 |
| Total debt | 55.10 | 25.60 | 23.60 | 20.31 | 10.69 | 0.59 |
| Total liabilities | 202 | 108 | 52.09 | 32.37 | 18.85 | 0.60 |
| Assets | ||||||
| Gross block | 60.66 | 24.28 | 20.29 | 14.11 | 10.00 | 0.00 |
| Net block | 52.71 | 18.98 | 17.21 | 12.72 | 9.79 | 0.00 |
| Capital work in progress | 23.02 | 21.39 | 2.76 | 0.00 | 0.00 | 0.00 |
| Investments | 0.15 | 0.01 | 0.00 | 0.05 | 0.05 | 0.00 |
| Inventories | 64.11 | 36.41 | 20.99 | 8.75 | 1.20 | 0.00 |
| Sundry debtors | 57.56 | 30.61 | 18.53 | 8.05 | 2.92 | 0.00 |
| Cash & bank balances | 7.55 | 0.07 | 0.09 | 0.03 | 0.03 | 0.04 |
| Loans & advances | 27.91 | 9.03 | 3.46 | 4.69 | 5.12 | 0.56 |
| Total current assets | 157 | 76.12 | 43.07 | 21.52 | 9.27 | 0.60 |
| Total current liabilities | 32.43 | 9.64 | 11.68 | 1.88 | 0.18 | 0.00 |
| Net working capital | 125 | 66.48 | 31.39 | 19.64 | 9.09 | 0.60 |
| Total assets | 202 | 108 | 52.09 | 32.37 | 18.85 | 0.60 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Opening cash | 0.07 | 0.09 | 0.03 | 0.03 | 0.04 | 0.00 |
| Net cash from operating activities | (28.12) | (16.55) | 0.35 | 0.19 | (5.76) | 0.03 |
| Net cash from investing activities | (39.15) | (23.32) | (7.90) | (0.19) | (2.35) | 0.00 |
| Net cash from financing activities | 74.75 | 39.85 | 7.61 | 0.00 | 8.10 | 0.01 |
| Net change in cash | 7.48 | (0.02) | 0.06 | 0.00 | (0.01) | 0.04 |
| Closing cash | 7.55 | 0.07 | 0.09 | 0.03 | 0.03 | 0.04 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|---|
| Growth | ||||||
| Sales growth | +57.9% | +51.8% | +61.9% | +132.9% | - | - |
| EBITDA growth | +31.4% | +32.7% | +88.2% | +882.5% | - | - |
| PBT growth | +21.0% | +51.8% | +133.7% | +3758.3% | +9997.0% | +9997.0% |
| Net income growth | +21.9% | +50.8% | +126.7% | +9625.0% | - | - |
| Revenue CAGR (3Y) | +57.2% | +78.9% | - | - | - | - |
| EBITDA CAGR (3Y) | +48.6% | +190.6% | - | - | - | - |
| Profitability & leverage | ||||||
| Net income margin | +10.1% | +13.1% | +13.2% | +9.5% | +0.2% | - |
| Return on capital employed | - | +23.6% | +31.1% | +26.1% | +6.1% | 0.0% |
| Return on net worth | - | +24.1% | +46.0% | +48.7% | +1.3% | 0.0% |
| Debt / equity | - | 0.45 | 1.08 | 1.54 | 1.38 | 58.87 |
| Long-term debt / equity | - | 0.18 | 0.61 | 0.96 | 0.94 | -0.04 |
| Interest cover | 15.72 | 13.85 | 17.71 | 30.69 | 79.66 | - |
| Efficiency & per share | ||||||
| Fixed asset turnover | - | 4.54 | 3.88 | 3.42 | 3.54 | 0.00 |
| Inventory turnover | - | 3.53 | 4.48 | 8.28 | 29.47 | 0.00 |
| Debtors turnover | - | 4.12 | 5.02 | 7.51 | 12.11 | 0.00 |
| EPS (₹) | 8.76 | 10.88 | 9.79 | 6.48 | 0.07 | (3.70) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 67.12 | 31.56 | 16.54 | 10.07 | 6.30 |
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Frequently Asked Questions about Indian Emulsifier
Indian Emulsifier was founded in 2021.
Indian Emulsifier is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
The primary company behind Indian Emulsifier, Indian Emulsifiers Limited, reported revenue of ₹103 Cr for FY 2025, up 54% year on year.
Indian Emulsifiers Ltd. was established in 2021 and is based in Mumbai, India. Emulsifiers and other specialty chemicals are produced at a multipurpose facility in Maharashtra. These products are supplied to sectors including food, pharmaceuticals, personal care, cosmetics, home care, and industrial cleaning. Operations are structured to accommodate varied customer specifications across these industries.
Indian Emulsifier offers Speciality Chemicals and Lube Additives.
Yes, Indian Emulsifier is publicly traded on NSE under the ticker symbol IEML.
Indian Emulsifier operates through Indian Emulsifiers Limited.
The legal entities of Indian Emulsifier currently have 7 directors, including Yash Sunil Tikekar, Joshna John Olivera, Abhay Tikekar and others.