Emami Ltd is a well-established Indian fast-moving consumer goods (FMCG) company known for its strong portfolio of personal care and healthcare brands such as BoroPlus, Navratna, Fair & Handsome, Kesh King, Zandu Balm, and Mentho Plus. Headquartered in Kolkata, the company has built a loyal customer base through consistent product innovation and rural-urban distribution strength. With robust profitability metrics, near-zero debt, and high return ratios, Emami remains a favorite among conservative investors seeking quality FMCG exposure. This article provides a fact-based outlook on Emami’s fundamentals and offers a realistic share price target for each year from 2026 to 2030.
Business: Manufacturing and marketing of personal care, healthcare, and edible oil products under trusted Indian brands.
Ownership: Promoted by the Goenka family – primarily Mr. R.S. Goenka (Founder) and his sons Mohan Goenka and Sushil Goenka, who serve as key promoters and executives.
Listed: Yes – on BSE (509890) and NSE (EMAMILTD).
Key Strength: Asset-light model, high brand recall, and deep penetration in semi-urban and rural India.
Clarifications:
Who owns Emami? The Goenka promoter family holds 54.84% of shares.
Why is Emami falling? Recent price correction stems from valuation concerns (P/B ~6.7x), modest sales growth (~7%), and broader FMCG sector underperformance amid inflationary pressures.
What is Emami’s profit? For FY2025 (TTM), net profit is ₹816 Cr with EPS of ₹18.66 and 23.91% YoY profit growth.
Is it a good buy? Suitable for long-term, quality-focused investors—not for short-term traders.
Emami: Key Financial Snapshot
Metric
Value
Market Capitalization
₹21,000.02 Cr
Current Share Price
₹481
52-Week High / Low
₹860 / ₹508
P/E (TTM)
25.78
P/B (TTM)
6.70
Book Value (TTM)
₹71.79
EPS (TTM)
₹18.66
ROE
32.73%
ROCE
35.62%
Dividend Yield
2.08%
Debt
₹0.29 Cr (effectively debt-free)
Cash Reserves
₹181.58 Cr
Sales Growth (YoY)
6.91%
Profit Growth (YoY)
23.91%
Shareholding Pattern
Category
Holding (%)
Promoters (Goenka Family)
54.84%
Domestic Institutions (DII)
26.73%
Foreign Institutions (FII)
9.03%
Public (Retail)
9.39%
Others
0%
Note: Stable promoter holding and strong institutional interest reflect confidence in governance and execution.
Emami Share Price Target Forecast (2026–2030)
Based on high ROE/ROCE, consistent dividend policy, near-zero debt, and modest but stable growth, we project the following realistic price ranges:
Year
Target Price Range (₹)
2026
₹510 – ₹580
2027
₹540 – ₹630
2028
₹570 – ₹680
2029
₹600 – ₹730
2030
₹630 – ₹780
These targets assume:
EPS CAGR of 12–15% (supported by 24% recent profit growth)
P/E range of 24–27x (slight compression from current 25.8x due to market normalization)
Dividend payout of ~50% (yield of 2%+)
Year-wise Breakdown
Emami Share Price Target 2026
Year
Target 1
Target 2
2026
₹510
₹580
Rationale: Despite high valuations (P/B 6.7x), Emami’s debt-free balance sheet, 35%+ ROCE, and brand resilience support modest upside. Near-term recovery depends on volume revival in rural markets.
Emami Share Price Target 2027
Year
Target 1
Target 2
2027
₹540
₹630
Rationale: Potential benefit from product premiumization, new category expansion (e.g., Ayurveda, wellness), and operational efficiency. However, FMCG competition limits aggressive re-rating.
Emami Share Price Target 2028
Year
Target 1
Target 2
2028
₹570
₹680
Rationale: By 2028, improved distribution and digital marketing could boost margins. High ROE sustainability justifies premium valuation vs peers.
Emami Share Price Target 2029
Year
Target 1
Target 2
2029
₹600
₹730
Rationale: Long-term play on India’s consumption story and trusted legacy brands. Execution in new segments (e.g., food, international) will be key.
Emami Share Price Target 2030
Year
Target 1
Target 2
2030
₹630
₹780
Rationale: If Emami maintains ROCE >30% and profit growth >15%, it can sustain a premium. The upper end assumes successful diversification and margin expansion.
Emami Ltd is a high-quality, debt-free FMCG company with best-in-class return ratios and trusted brands. While its valuation is premium, its financial discipline and dividend reliability make it a solid long-term compounder. The projected 2026–2030 price range (₹510–₹780) reflects steady, not explosive, growth. Investors should buy on dips with a 5-year horizon, focusing on quality over momentum.
📌 Disclaimer: Price targets are estimates based on current fundamentals and sector trends. They are not guarantees. Always consult a SEBI-registered advisor before investing.
