Indian Emulsifiers Limited - chemicals in Mumbai, Maharashtra, India. FY 2026 financials & compliance.
CIN L46691MH2020PLC351364 Incorporated 05 December 2020 ROC Mumbai HQ Mumbai, Maharashtra, India
Active Listed - NSE: IEML Public Limited Company chemicals MSME
Data last updated
Market Cap
₹75.72 Cr
IEML-ST · NSE
Share Price
₹39.25
-4.96% 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
Authorised capital
₹32 Cr
Registered with MCA
Paid-up capital
₹18.33 Cr
Issued & subscribed

About Indian Emulsifiers Limited

Data last updated:

Indian Emulsifiers Limited is a public limited company based in Mumbai, Maharashtra, India, a subsidiary of Vrt Enterprises Private Limited. It operates in the pharmaceuticals segment of the chemicals sector. It was incorporated on 05 December 2020 and has been in existence for over 6 years.

The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L46691MH2020PLC351364. Its GSTIN is 27AAFCI9300K1ZF (Maharashtra). Its shares are listed on NSE: IEML.

The company has an authorised share capital of ₹32 Cr and a paid-up capital of ₹18.33 Cr. It is led by directors including Yash Sunil Tikekar (Managing Director) and Abhay Tikekar.

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Mumbai, Maharashtra.

As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹159.82 Cr, a growth of 57.9% compared to the previous year. For the same year it recorded a net profit of ₹16.25 Cr (net margin 10.2%) and EBITDA of ₹25.85 Cr (EBITDA margin 16.2%). The net worth stands at ₹147.05 Cr (up 79.3% YoY). Total assets are valued at ₹202.31 Cr (up 87.9% YoY).

The company has about 24 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Indian Emulsifier. As per MCA filings, the company has open charges of ₹123.13 Cr and satisfied charges of ₹18 Cr on record. The company has 1 deal on record (1 ipo); the latest was in May 2024. Its 7 peer companies in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products) are compared by revenue, 4 larger and 3 smaller; the largest is Forace Speciality Chem Private Limited with revenue of ₹103.87 Cr. The company has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 2 overdue payments to 1 micro and small supplier.

Indian Emulsifiers Limited is registered as an MSME under the Udyam registration framework (Reg. No. UDYAM-MH-19-0063362). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website indianemulsifiers.com.

Company Details of Indian Emulsifiers Limited
CIN L46691MH2020PLC351364
Registration Number 351364
Incorporation Date 05 December 2020
ROC Mumbai
Listing Status Listed (NSE: IEML)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Vrt Enterprises Private Limited
Compliance Status Active Compliant
MSME Classification MSME
Udyam Registration UDYAM-MH-19-0063362

CIN History

Indian Emulsifiers has 3 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L46691MH2020PLC351364, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L46691MH2020PLC351364Current
U24100MH2020PTC351364Previous
U46691MH2020PLC351364Previous
U46691MH2020PTC351364Previous

Recognitions & Rankings of Indian Emulsifiers

MSME (Udyam registered) Ministry of MSME
Udyam number
UDYAM-MH-19-0063362
Contact Details
  • Email
    Locked
  • Telephone
    Locked
  • Website
    Locked
  • Social Media
    Locked
  • Registered Address
    107 Floor – 1 Sumer Kendra Shivram Seth Amrutwar Road, Near Doordarshan Kendra Off Pandurang Budhwar Marg, Mumbai, Maharashtra, India – 400018
  • Industry
    Chemicals, Pharmaceuticals, Medicinal Chemical & Botanical Products, Chemical Products
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Financials, compliance, directors, charges, ownership and filings for Indian Emulsifiers Limited in one report.

Financials from FY 2021 Directors & ownership Charges & compliance

Associated Brands

Indian Emulsifiers operates one associated brand: Indian Emulsifier. Each brand links to its own profile.

BrandDescriptionWebsite
Manufacturer and supplier of specialty chemicals for food, pharmaceuticals, personal care, cosmetics, home care, and industrial cleaning industriesindianemulsifiers.com

Business Activity

The main business activity of Indian Emulsifiers is manufacturing. In detail, this covers chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products.

Main Activity Group CodeDescription of Main ActivityBusiness Activity CodeDescription of Business ActivityTurnover Percentage
CManufacturingC6Chemical and chemical products, pharmaceuticals, medicinal chemical and botanical productsLocked
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Business activity turnover details

Turnover share and past changes in activity are in the company report.

  • Turnover contribution
  • Historical classifications
  • Filing-level activity changes

Financials of Indian Emulsifiers Limited

FY 2025-26 filings available

Indian Emulsifiers Limited reported revenue of ₹159.82 Cr (up 57.9% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Consolidated
Revenue
₹160 Cr
+57.9% YoY
EBITDA
₹25.85 Cr
+31.7% YoY
Profit After Tax
₹16.25 Cr
+22.2% YoY
Net Worth
₹147 Cr
+79.3% YoY
Total Assets
₹202 Cr
+87.9% YoY
Total Debt
₹55.11 Cr
+115.3% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24
Income statement
Revenue16010166.68
Revenue growth+57.9%+51.8%-
EBITDA25.8519.6314.79
EBITDA margin+16.2%+19.4%+22.2%
Profit before tax19.9316.4210.82
Net profit16.2513.308.82
Net profit margin+10.2%+13.1%+13.2%
EPS (₹)8.8010.889.79
Balance sheet
Total assets20210852.09
Net worth14782.0328.44
Total debt55.1125.6023.60
Cash & bank7.780.070.09
Net working capital12566.4831.39
Cash flow
Cash from operations244(16.55)0.35
Cash from investing(39.06)(23.32)(7.90)
Cash from financing74.7639.857.61
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Income statement
Revenue16010166.6841.1817.680.00
Revenue growth+57.9%+51.8%+61.9%+132.9%--
EBITDA25.7919.6314.797.860.800.00
EBITDA margin+16.1%+19.4%+22.2%+19.1%+4.5%-
Profit before tax19.8716.4210.824.630.120.00
Net profit16.2113.308.823.890.040.00
Net profit margin+10.1%+13.1%+13.2%+9.5%+0.2%-
EPS (₹)8.7610.889.796.480.07(3.70)
Balance sheet
Total assets20210852.0932.3718.850.60
Net worth14782.0328.4412.048.150.01
Total debt55.1025.6023.6020.3110.690.59
Cash & bank7.550.070.090.030.030.04
Net working capital12566.4831.3919.649.090.60
Cash flow
Cash from operations(28.12)(16.55)0.350.19(5.76)0.03
Cash from investing(39.15)(23.32)(7.90)(0.19)(2.35)0.00
Cash from financing74.7539.857.610.008.100.01
ParticularsMar 2024Dec 2023
Revenue18.0013.60
Other income0.010.03
Total expenses14.408.91
EBITDA3.604.69
EBITDA margin+20.0%+34.5%
Depreciation0.490.43
Interest0.430.80
Profit before tax2.693.49
Tax0.610.56

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 22 Oct 2026
ParticularsFY 2025-26FY 2024-25FY 2023-24
Revenue16010166.68
Revenue growth+57.9%+51.8%-
Other income0.361.430.04
Total expenses13481.6051.89
Employee cost0.000.240.36
EBITDA25.8519.6314.79
EBITDA margin+16.2%+19.4%+22.2%
Depreciation2.642.231.69
Interest3.642.412.32
Profit before tax19.9316.4210.82
Tax3.683.122.00
Net profit16.2513.308.82
Net profit margin+10.2%+13.1%+13.2%
EPS (₹)8.8010.889.79
ParticularsFY 2025-26FY 2024-25FY 2023-24
Equity & liabilities
Share capital18.3312.229.01
Reserves & surplus12969.8119.43
Shareholders' funds (net worth)14782.0328.44
Minority interest0.000.000.00
Secured loans47.4423.8417.01
Unsecured loans7.671.766.59
Total debt55.1125.6023.60
Total liabilities20210852.09
Assets
Gross block60.6624.2820.29
Net block52.7118.9817.21
Capital work in progress23.0221.392.76
Investments0.050.000.00
Inventories64.4536.4120.99
Sundry debtors57.3430.6118.53
Cash & bank balances7.780.070.09
Loans & advances27.819.033.46
Total current assets15776.1243.07
Total current liabilities32.529.6411.68
Net working capital12566.4831.39
Total assets20210852.09
ParticularsFY 2025-26FY 2024-25FY 2023-24
Opening cash0.070.090.03
Net cash from operating activities244(16.55)0.35
Net cash from investing activities(39.06)(23.32)(7.90)
Net cash from financing activities74.7639.857.61
Net change in cash280(0.02)0.06
Closing cash7.780.070.09
ParticularsFY 2025-26FY 2024-25FY 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-0.450.83
Long-term debt / equity-0.180.47
Interest cover15.6813.8517.71
Efficiency & per share
Fixed asset turnover-4.543.29
Inventory turnover-3.533.18
Debtors turnover-4.123.60
EPS (₹)8.8010.889.79
Dividend per share (₹)0.000.000.00
Book value per share (₹)0.0067.1231.56
ParticularsMar 2024Dec 2023
Revenue18.0013.60
Other income0.010.03
Total expenses14.408.91
EBITDA3.604.69
EBITDA margin+20.0%+34.5%
Depreciation0.490.43
Interest0.430.80
Profit before tax2.693.49
Tax0.610.56
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Revenue16010166.6841.1817.680.00
Revenue growth+57.9%+51.8%+61.9%+132.9%--
Other income0.361.430.040.000.000.00
Total expenses13481.6051.8933.3216.880.00
Employee cost0.000.240.360.330.970.00
EBITDA25.7919.6314.797.860.800.00
EBITDA margin+16.1%+19.4%+22.2%+19.1%+4.5%-
Depreciation2.642.231.691.180.210.00
Interest3.642.412.322.050.470.00
Profit before tax19.8716.4210.824.630.120.00
Tax3.663.122.000.740.080.00
Net profit16.2113.308.823.890.040.00
Net profit margin+10.1%+13.1%+13.2%+9.5%+0.2%-
EPS (₹)8.7610.889.796.480.07(3.70)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Equity & liabilities
Share capital18.3312.229.018.118.110.01
Reserves & surplus12969.8119.433.930.040.00
Shareholders' funds (net worth)14782.0328.4412.048.150.01
Secured loans47.4423.8417.0115.529.750.00
Unsecured loans7.661.766.594.790.940.59
Total debt55.1025.6023.6020.3110.690.59
Total liabilities20210852.0932.3718.850.60
Assets
Gross block60.6624.2820.2914.1110.000.00
Net block52.7118.9817.2112.729.790.00
Capital work in progress23.0221.392.760.000.000.00
Investments0.150.010.000.050.050.00
Inventories64.1136.4120.998.751.200.00
Sundry debtors57.5630.6118.538.052.920.00
Cash & bank balances7.550.070.090.030.030.04
Loans & advances27.919.033.464.695.120.56
Total current assets15776.1243.0721.529.270.60
Total current liabilities32.439.6411.681.880.180.00
Net working capital12566.4831.3919.649.090.60
Total assets20210852.0932.3718.850.60
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21
Opening cash0.070.090.030.030.040.00
Net cash from operating activities(28.12)(16.55)0.350.19(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 activities74.7539.857.610.008.100.01
Net change in cash7.48(0.02)0.060.00(0.01)0.04
Closing cash7.550.070.090.030.030.04
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 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-0.451.081.541.3858.87
Long-term debt / equity-0.180.610.960.94-0.04
Interest cover15.7213.8517.7130.6979.66-
Efficiency & per share
Fixed asset turnover-4.543.883.423.540.00
Inventory turnover-3.534.488.2829.470.00
Debtors turnover-4.125.027.5112.110.00
EPS (₹)8.7610.889.796.480.07(3.70)
Dividend per share (₹)0.000.000.000.000.000.00
Book value per share (₹)0.0067.1231.5616.5410.076.30
Want more history and ratios?
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Board of Directors of Indian Emulsifiers Limited

Indian Emulsifiers has 5 current directors and 2 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Yash Sunil TikekarManaging Director05 Dec 20205 Years 10 MonthsCurrent
Abhay TikekarDirector27 Dec 20232 Years 9 MonthsCurrent
Vaishali Dipen TarsariyaDirector27 Dec 20232 Years 9 MonthsCurrent
Rajesh Madhukar JoshiDirector27 Nov 20232 Years 10 MonthsCurrent
Rajaram Gordhanlal AgarwalDirector27 Nov 20232 Years 10 MonthsCurrent

Peer Comparison

Indian Emulsifiers Limited is compared with the companies closest to it by revenue in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products). Net profit, margin and employee counts of each company are in the company report.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Indian Emulsifiers Limited this company₹159.82 Cr (FY 2026)••••••••57.9%••••Mumbai, Maharashtra, India
Forace Speciality Chem Private Limited₹103.87 Cr (FY 2024)••••••••6.0%••••Haridwar, Uttarakhand, India
Maharashtra Aldehydes and Chemicals Ltd₹103.31 Cr (FY 2025)••••••••-7.0%••••Mumbai, Maharashtra, India
Golden Cashew Products Private Limited₹103.1 Cr (FY 2025)••••••••40.0%••••Puducherry, India
Kronox Lab Sciences Limited₹102.72 Cr (FY 2025)••••••••12.0%••••Padra, Gujarat, India
Paras Oxide Private Limited₹102.38 Cr (FY 2025)••••••••119.0%••••Muzaffar Nagar, Uttar Pradesh, India
Chemieresin Industries Private Limited₹102.1 Cr (FY 2025)••••••••35.0%••••Ahmedabad, Gujarat, India
Suparna Chemicals Limited₹101.67 Cr (FY 2025)••••••••-18.0%••••Mumbai, Maharashtra, India

Peers are the companies nearest to Indian Emulsifiers by revenue, above and below it, in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products), from the latest filed financials of each company. Net profit, margin and employee counts of each peer are in the company report.

Charges & Borrowings

Open charges
₹123.13 Cr
Satisfied charges
₹18 Cr
Breakdown by lending institutions
Bank of India₹53.40 Cr
Others₹49.73 Cr
Canara Bank₹20.00 Cr
Latest charge details
DateLenderAmountStatus
03 Aug 2026Canara Bank₹20 CrOpen
31 Jul 2026Others₹12 CrOpen
16 Jul 2026Others₹23 CrOpen
30 Jun 2026Bank of India₹5 CrOpen
17 Apr 2026Others₹10 CrOpen

Total charge records: 14 View all charges

Deals & Funding

Indian Emulsifiers Limited has 1 deal on record (1 ipo); the latest was in May 2024.

Total deals
1
IPO
1

Deals on record (1 of 1)

WhenDealAmountParties
May 2024IPO₹42.39 CrInvestors: Persistent Growth Fund, Resonance Opportunities Fund, Zeal Global Opportunities Fund

Full deal history: available in the company report

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME Payment Delays

Indian Emulsifiers Limited has 2 MSME Form 1 returns on record for the period ending Mar 2023, listing 2 overdue payments to 1 micro and small supplier. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.

Suppliers with reported dues (1 of 1)

SupplierAmount dueDue sinceReported on
Prism Ingredients••••••••••••

Full MSME payment history: available in the company report

Individuals and sole proprietors among the suppliers are not named. Amounts, due dates and filing dates are in the company report.

Employees and EPFO Compliance

Employment history and EPFO contributions of people linked to Indian Emulsifiers.

Employee and EPFO history: available in the company report

Recent Activity

Indian Emulsifiers Limited has 7 board changes on record since 2020: 5 appointments and 2 cessations. The latest: Abhay Tikekar was appointed as Director on 27 Dec 2023.

Charges
A charge with Canara Bank amounted to Rs. 20.00 Cr with Charge ID 101358783 was registered on 03 Aug 2026.
Charges
A charge with Others amounted to Rs. 12.00 Cr with Charge ID 101372134 was registered on 31 Jul 2026.
Charges
A charge with Others amounted to Rs. 23.00 Cr with Charge ID 101349171 was registered on 16 Jul 2026.
Charges
A charge with Bank Of India amounted to Rs. 5.00 Cr with Charge ID 101338454 was registered on 30 Jun 2026.
Charges
A charge registered on 02 Mar 2026 via Charge ID 101256408 with Bank Of India was fully satisfied on 08 Jun 2026.
Charges
A charge with Bank Of India of Rs. 27.60 Cr registered on 02 Mar 2023 with Charge ID 100692529 was modified on 22 May 2026.
Charges
A charge with Others amounted to Rs. 10.00 Cr with Charge ID 101298913 was registered on 17 Apr 2026.
Charges
A charge with Others amounted to Rs. 4.50 Cr with Charge ID 101272234 was registered on 25 Mar 2026.
Charges
A charge with Bank Of India amounted to Rs. 5.00 Cr with Charge ID 101256408 was registered on 02 Mar 2026.
Charges
A charge with Bank Of India amounted to Rs. 10.00 Cr with Charge ID 101242008 was registered on 17 Feb 2026.
AGM
Indian Emulsifiers Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 0.23 Cr with Charge ID 101135823 was registered on 30 Jul 2025.

20 earlier events are listed in the company report.

Credit Ratings, Litigation & Regulatory Alerts

Credit ratings, litigation, and regulatory alerts: available in the company report

Subsidiaries & Group Companies

Corporate group structure: available in the company report

GST Compliance

Indian Emulsifiers has 1 GST registration: 1 active.

Total GSTINs
1
Active
1
GSTINStateStatusRegistered on
27AAFCI9300K1ZFMaharashtraActive15 Apr 2021

GST registrations and filing compliance: available in the company report

MCA Filings & Documents

MCA filings and documents: available in the company report

Frequently Asked Questions

Indian Emulsifiers is an active public limited company based in Mumbai, Maharashtra, India. The company works in pharmaceuticals, within the chemicals industry. It was incorporated on 05 December 2020 (6+ years old) and is registered under CIN L46691MH2020PLC351364. Listed on NSE: IEML.

Indian Emulsifiers reported revenue of ₹159.82 Cr for FY 2025-26 (up 57.9% YoY) based on consolidated financials.

Indian Emulsifiers has 5 current directors:

The latest financial statements of Indian Emulsifiers on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from FY 2021 are in the company report.

The GSTIN of Indian Emulsifiers is 27AAFCI9300K1ZF, registered in Maharashtra.

The CIN (Corporate Identification Number) of Indian Emulsifiers is L46691MH2020PLC351364. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Indian Emulsifiers is listed on NSE with symbol IEML.

Indian Emulsifiers was incorporated on 05 December 2020, making it 6+ years old. It is registered with the Registrar of Companies, Mumbai.

Indian Emulsifiers has 1 deal on record (1 ipo); the latest was in May 2024.

The peers of Indian Emulsifiers by revenue are Forace Speciality Chem Private Limited, Maharashtra Aldehydes and Chemicals Ltd, Golden Cashew Products Private Limited, Kronox Lab Sciences Limited, Paras Oxide Private Limited and 2 more, all in the Chemicals industry (Specialty Chemicals), with the same principal business activity (chemical and chemical products, pharmaceuticals, medicinal chemical and botanical products).

Abhay Tikekar was appointed as Director on 27 Dec 2023. Vaishali Dipen Tarsariya was appointed as Director on 27 Dec 2023. Vasant Raghunath Tikekar ceased to be Director on 27 Dec 2023. Indian Emulsifiers has 7 board changes on record in total.

Yes, Indian Emulsifiers is registered as an MSME under Udyam registration (number: UDYAM-MH-19-0063362).

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