---
title: "Emerald Tyre Manufacturers Ltd (ETML) — Share Price, Financials & Analysis"
symbol: "ETML"
company: "Emerald Tyre Manufacturers Ltd"
canonical: "https://tapetide.com/stocks/ETML"
isin: "INE0RHD01013"
nse_symbol: "ETML"
sector: "Automobiles"
industry: "Tyres"
market_cap_cr: 158.44
generated_at: "2026-09-13T19:14:37.934Z"
---

# Emerald Tyre Manufacturers Ltd (ETML)

Canonical page: https://tapetide.com/stocks/ETML

## Company

- **NSE Symbol:** ETML
- **ISIN:** INE0RHD01013
- **Sector:** Automobiles
- **Industry:** Tyres
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2024-12-12
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** emeraldtyres.com

## About

Incorporated in 2002, Emerald Tyre Manufacturers specializes in manufacturing, supplying, and servicing a wide range of tyres.[1]

## Latest Price

- **Price:** ₹80.75
- **Change:** -0.6 (-0.74%)
- **Open:** ₹80.75
- **Day High:** ₹80.75
- **Day Low:** ₹80.75
- **Previous Close:** ₹81.35
- **Volume:** 2400
- **As Of:** 2026-09-11T08:09:33+00:00

## Key Fundamentals

Observed at 2026-09-11T04:53:21.755848Z.

- **Market Cap:** ₹158.44 Cr
- **Classification:** SME
- **P/E (reported):** 15.4
- **Book Value:** ₹59.24
- **Price to Book:** 1.37
- **Dividend Yield:** 1.23%
- **ROE:** 9.54%
- **ROCE:** 18.62%
- **Debt to Equity:** 1.18
- **Revenue (yearly):** ₹218.16 Cr
- **Net Income:** ₹11.8 Cr
- **EBITDA:** ₹27.49 Cr
- **52-Week High:** ₹137.95
- **52-Week Low:** ₹72.5
- **RSI (14):** 48.04

## Tapetide Score

- **Score:** 51 / 100
- **Score date:** 2026-09-04
- **Archetype:** Losing Momentum
- **What it means:** A capable business whose price trend has turned while the multiple is still demanding. Often a re-rating in progress rather than a broken company — watch whether earnings stay resilient.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Falling
- **Percentile:** 52 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 22.13 | 9% |
| growth | 55.3 | 9% |
| momentum | 38.15 | 12% |
| ownership | 50 | 24% |
| quality | 71.24 | 22% |
| valuation | 49.22 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Company has a low return on equity of 13.9% over last 3 years.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -34.35% | -31.02% | 797.44% |
| ebitda margin growth | -18.11% | -31.48% | -1.77% |
| net income growth | 13.46% | 12% | 37% |
| revenue growth | 7.68% | 10% | 20% |
| roce | -37.75% | -35.77% | 21.69% |
| roe | -55.79% | 17.48% | -170.35% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Sales | 99 | 101 | 105 | 113 |
| Expenses | 85 | 88 | 90 | 100 |
| Operating Profit | 14 | 13 | 15 | 13 |
| OPM % | 14 | 13 | 14 | 11 |
| Other Income | 2 | 1 | 4 | 3 |
| Interest | 5 | 5 | 6 | 8 |
| Depreciation | 3 | 3 | 3 | 4 |
| Profit before tax | 8 | 6 | 9 | 4 |
| Tax % | 23 | 32 | 19 | 38 |
| Net Profit | 6 | 4 | 8 | 3 |
| EPS in Rs | 4.4 | 2.08 | 3.88 | 1.42 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 85 | 87 | 134 | 164 | 171 | 199 | 218 |
| Expenses | 78 | 80 | 118 | 142 | 141 | 172 | 191 |
| Operating Profit | 6 | 7 | 16 | 21 | 30 | 27 | 27 |
| OPM % | 8 | 8 | 12 | 13 | 17 | 14 | 13 |
| Other Income | 4 | 1 | 1 | 2 | 0 | 3 | 7 |
| Interest | 9 | 7 | 7 | 9 | 9 | 10 | 14 |
| Depreciation | 4 | 4 | 3 | 4 | 6 | 6 | 7 |
| Profit before tax | -3 | -3 | 7 | 10 | 15 | 14 | 14 |
| Tax % | 2 | 29 | 30 | 30 | 21 | 27 | 25 |
| Net Profit | -3 | -4 | 5 | 7 | 12 | 10 | 10 |
| EPS in Rs | -5.48 | -5.6 | 7.07 | 11.19 | 8.07 | 5.36 | 5.3 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 12 | 19 | 19 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 6 | 6 | 7 | 7 | 14 | 19 | 19 |
| Reserves | 17 | 15 | 19 | 28 | 40 | 90 | 96 |
| Borrowings | 63 | 69 | 75 | 85 | 87 | 88 | 136 |
| Other Liabilities | 25 | 22 | 34 | 29 | 33 | 40 | 35 |
| Total Liabilities | 111 | 112 | 135 | 148 | 174 | 237 | 286 |
| Fixed Assets | 33 | 29 | 31 | 45 | 54 | 56 | 130 |
| CWIP | 3 | 4 | 10 | 7 | 6 | 30 | 0 |
| Investments | 0 | 0 | 0 | 0 | 1 | 1 | 6 |
| Other Assets | 74 | 79 | 93 | 96 | 112 | 150 | 150 |
| Total Assets | 111 | 112 | 135 | 148 | 174 | 237 | 286 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2 | -1 | 9 | 12 | 12 | 8 | 21 |
| Cash from Investing Activity | 1 | -2 | -15 | -14 | -12 | -32 | -58 |
| Cash from Financing Activity | -4 | 4 | 5 | 2 | 1 | 35 | 32 |
| Net Cash Flow | -1 | 1 | -1 | 1 | 2 | 12 | -5 |
| Free Cash Flow | 1 | -2 | -3 | -3 | -2 | -23 | -30 |
| CFO/OP | 40 | -10 | 70 | 67 | 53 | 44 | 93 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 72 | 89 | 75 | 68 | 86 | 83 | 90 |
| Inventory Days | 375 | 347 | 234 | 208 | 227 | 212 | 220 |
| Days Payable | 120 | 100 | 77 | 67 | 78 | 85 | 61 |
| Cash Conversion Cycle | 327 | 336 | 232 | 209 | 235 | 209 | 250 |
| Working Capital Days | 37 | 55 | 23 | 13 | 27 | 25 | 50 |
| ROCE % | — | 5 | 14 | 17 | 19 | 14 | 12 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 50.31% | 50.31% | 50.31% | 50.31% |
| FIIs | 8.11% | 2.32% | 0% | 0% |
| DIIs | 1.85% | 1.08% | 9.16% | 9.16% |
| Government | 0% | 0% | 0% | 0% |
| Public | 18.61% | 24.88% | 28.03% | 27.45% |
| Others | 21.12% | 21.41% | 12.51% | 13.08% |
| No. of Shareholders | 18 | 1251 | 1149 | 1119 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 0 / 7 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 81.11 | Sell |
| EMA (10) | 81.18 | Sell |
| SMA (20) | 81.8 | Sell |
| EMA (20) | 81.67 | Sell |
| SMA (50) | 82.82 | Sell |
| EMA (50) | 82.74 | Sell |
| SMA (100) | 83.57 | Sell |
| EMA (100) | 85.4 | Sell |
| SMA (200) | 92.09 | Sell |
| EMA (200) | 92.27 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 46.45 | Neutral |
| MACD (12,26,9) | -0.62 | Sell |
| Stochastic (14,3,3) | 24.64 | Neutral |
| ADX (14) | 17.35 | Neutral |
| Williams %R (14) | -76.5 | Neutral |
| ATR (14) | 3.03 | High Volatility |
| ROC (12) | -2 | Sell |
| Stoch RSI (14) | 64.82 | Neutral |
| UO (7,14,28) | 36.37 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 Jul - Company clarified XBRL errors in financial results and refiling, with no impact on reported numbers. | [Reply to Clarification- Financial results 9 Jul - Company clarified XBRL errors in financial results and refiling, with no impact on reported numbers.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_30062026165103_Emerald__NSE_Clarification_Letter.pdf) |
| 9 February 2026 - Virtual analyst/institutional investor meeting on 16 February 2026 at 4:00 PM. | [Analysts/Institutional Investor Meet/Con. Call Updates 9 February 2026 - Virtual analyst/institutional investor meeting on 16 February 2026 at 4:00 PM.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_09022026152903_Intimation_of_investor_meeting_dated_16th_February.pdf) |
| 6 March 2026 - Analyst/institutional investors meeting on March 6, 2026 cancelled due to technical glitches. | [Analysts/Institutional Investor Meet/Con. Call Updates 6 March 2026 - Analyst/institutional investors meeting on March 6, 2026 cancelled due to technical glitches.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_06032026150109_Intimation_of_cancellation_of_the_meeting.pdf) |
| 6 April 2026 - Regulation 74(5) confirmation certificate for quarter ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 6 April 2026 - Regulation 74(5) confirmation certificate for quarter ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_06042026160054_Regulation-74_5_-_31st_March_2026.pdf) |
| 5 Aug - Emerald Tyre held virtual analyst and investor meeting on 05 August 2026 with multiple investors. | [Analysts/Institutional Investor Meet/Con. Call Updates 5 Aug - Emerald Tyre held virtual analyst and investor meeting on 05 August 2026 with multiple investors.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_05082026165427_Outcome_of_investor_meeting_05th_Aug_26.pdf) |
| 4 May 2026 - Emerald Tyre Manufacturers Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) … | [Disclosure under SEBI Takeover Regulations 4 May 2026 - Emerald Tyre Manufacturers Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) …](https://nsearchives.nseindia.com/corporate/team_sandeshc_30042026124412_30.pdf) |
| 30 June 2026 - Emerald Tyre held a virtual analysts/investors meet on 30 June 2026 with 19 participants. | [Analysts/Institutional Investor Meet/Con. Call Updates 30 June 2026 - Emerald Tyre held a virtual analysts/investors meet on 30 June 2026 with 19 participants.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_30062026161843_Outcome_of_investors_meeting.pdf) |
| 3 July 2026 - Submitted Regulation 74(5) certificate for quarter ended 30 June 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 3 July 2026 - Submitted Regulation 74(5) certificate for quarter ended 30 June 2026.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_03072026144019_Certificae_under_74_5_.pdf) |
| 28 Jul - Management to hold a virtual analyst/investor group meeting on 5 August 2026 at 2:00 PM. | [Analysts/Institutional Investor Meet/Con. Call Updates 28 Jul - Management to hold a virtual analyst/investor group meeting on 5 August 2026 at 2:00 PM.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_28072026154604_Intimation_of_Investor_Meeting.pdf) |
| 27 Jul - Investor presentation for H2 FY26 posted, showing revenue ₹11,622.17 lakh and PAT ₹276.61 lakh. | [General Updates 27 Jul - Investor presentation for H2 FY26 posted, showing revenue ₹11,622.17 lakh and PAT ₹276.61 lakh.](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_27072026125837_Emerald_Tyre_Investor_Presentation_signed.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30974_ETML_2025_2026_A_2004599_01092026143603.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27504_ETML_2024_2025_A_19082025181000.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2025 | [Concall - Sep 2025](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_23092025151208_Investor_presentation2.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_14022025135402_Emerald_Tyre_Investor_Presentation_Sep_2024.pdf) |
| Dec 2025 | [Concall - Dec 2025](https://nsearchives.nseindia.com/corporate/EMERALD_GYR_11122025114541_Transcript_of_Conference_call_letter_11th_december.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:14:37.934Z.