Emami Paper Mills Limited Earnings Summary — Q4 FY2026
Emami Paper Mills Reports Strong Q4 Profit Surge Despite Stable Revenue
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 12.8% sequentially in Q1 FY2027.
- Revenue of ₹560 Cr is 21.8% higher year-on-year.
- Revenue has compounded at 6.7% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit has reached its highest level in 10 quarters.
- Net profit of ₹39 Cr is 511.9% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 16.9% annualised across the period.
- Operating margin stands at 14.8% in Q1 FY2027.
- Operating margin expanded by 661 bps year-on-year.
- Over the last two years operating margin has expanded by 623 bps.
- PBT margin is 9.5%.
- Expense growth of 13.1% remained below revenue growth of 21.8%.
- Operating profit of ₹83 Cr is 120.1% higher year-on-year.
- Operating leverage continues to improve.
- 3 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 79/100 (Strong) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 560 | 496 | 500 | 451 | 460 | 475 | 454 | 495 | 504 | 484 |
| Expenses | Stable | 477 | 434 | 440 | 414 | 422 | 444 | 424 | 458 | 460 | 414 |
| Operating Profit | Accelerating | 83 | 62 | 60 | 36 | 38 | 31 | 30 | 37 | 43 | 70 |
| Operating Margin | Accelerating | 14.8% | 12.5% | 12.0% | 8.1% | 8.2% | 6.5% | 6.6% | 7.5% | 8.6% | 14.4% |
| Other Income | Volatile | 0 | 15 | -2 | 5 | 2 | 2 | 1 | 1 | 1 | 2 |
| Interest | Stable | 17 | 16 | 18 | 17 | 17 | 16 | 17 | 15 | 14 | 16 |
| Depreciation | Softening | 13 | 14 | 14 | 14 | 13 | 13 | 13 | 13 | 13 | 21 |
| Profit Before Tax | Volatile | 53 | 47 | 26 | 10 | 9 | 4 | 2 | 10 | 17 | 35 |
| Tax | Volatile | 15 | 16 | 9 | 3 | 3 | 0 | 0 | 3 | 5 | 8 |
| Net Profit | Volatile | 39 | 32 | 17 | 7 | 6 | 4 | 2 | 8 | 13 | 27 |
| Net Margin | Volatile | 6.9% | 6.3% | 3.4% | 1.5% | 1.4% | 0.8% | 0.4% | 1.5% | 2.5% | 5.6% |
Key Takeaways
- Net profit witnessed an exponential year-on-year increase, rising from ₹3.92 crore in Q4 FY25 to ₹31.50 crore in Q4 FY26.
- The Board recommended an equity dividend of 160% (₹3.20 per share) and a preference dividend of 8% (₹8 per share).
- Operating efficiencies improved as total expenses decreased slightly even as total income grew compared to the previous year.
- Exceptional item of ₹1.25 crore recognized for the year due to incremental retiral obligations following the notification of New Labour Codes.
- The company continues to de-leverage, having redeemed ₹45 crore of preference shares during the fiscal year.
- The company maintains a single-segment operation focused on paper, paperboard, and newsprint, reporting zero subsidiary exposure.
Management Guidance
Management is monitoring new labor code developments for future accounting adjustments. The reappointment of Shri Manish Goenka as Vice Chairman for 3 years signals continuity in strategic leadership through 2029.
Sentiment Shift
Improving
Significant bottom-line recovery and consistent dividend payouts despite stagnant top-line growth indicate better cost management and margin expansion.
Outlook
The company is navigating a transition toward packaging boards while managing legacy newsprint volatility; focus remains on balance sheet optimization and preference share redemption through 2026.
From the Annual Report (Key Quotes)
“Statutory Auditors have issued an auditor's report with an unmodified opinion on the Financial Results.”
“The company has only one reportable business segment in which it operates i.e. paper and paperboard including newsprint.”
“Company has assessed the incremental impact on retiral obligations at 1.25 Crores and has disclosed the same as an Exceptional Item.”
Official Quarterly Documents
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This summary is AI-generated from Emami Paper Mills Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.