Indian Emulsifiers Peer Comparison

NSE: IEML

₹43.60

₹-0.50 (-1.13%)

As on 28-Aug-2026IST

Market cap

₹80 Cr

Revenue (TTM)

₹101 Cr

P/E Ratio

4.9

P/B Ratio

0.6

Div. Yield

0 %

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	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Market cap (₹ Cr)	80	24,047	22,521	19,602	16,799
Revenue (₹ Cr)	101	8,575	1,224	9,013	2,258
Net Profit (₹ Cr)	13.30	783.41	235.19	531.00	387.86
Net Margin (%)	12.96	9.08	18.79	5.88	16.65
RoE (%)	24.08	13.96	10.03	8.95	15.03
Price to Earnings	4.92	30.70	95.76	36.91	43.31
Price-To-Book	0.61	3.89	8.95	3.22	6.02

Income Statement
Liabilities
Assets
Cashflow
Ratios

Income Statement (₹ Cr)

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Operating Revenue	101.23	8,281.93	838.69	7,269.42	2,109.36
Total Income	102.66	8,365.79	880.33	7,297.25	2,163.76
Total Expenditure	81.61	7,186.88	597.53	6,282.62	1,668.27
EBITDA	19.62	1,095.05	241.16	986.80	441.09
Depreciation	2.23	195.36	45.01	434.27	41.23
EBIT	17.39	899.69	196.15	552.53	399.86
Interest	2.41	30.80	12.93	275.44	8.78
Other Income	1.43	83.86	41.64	27.83	54.40
Exceptional Items	--	--	-11.87	2.37	--
Profit before Tax	16.41	952.75	212.98	307.29	445.48
Provision for Tax	3.11	255.38	54.57	-23.64	114.26
Profit after Tax	13.30	697.37	158.42	330.93	331.22

Liabilities (₹ Cr)

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Shareholder's Funds	82.03	5,388.67	2,225.89	5,605.12	2,371.79
Minority Interest	--	35.99	--	0.10	--
Non-Current Liabilities	6.89	1,358.60	67.63	1,823.91	63.11
Current Liabilities	28.48	922.76	350.70	3,466.40	247.09
Total Liabilities	117.41	7,706.02	2,644.22	11,113.52	2,681.99

Assets (₹ Cr)

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Non-Current Assets	41.28	4,408.91	1,506.05	8,000.79	1,624.71
Current Assets	76.12	3,297.11	1,138.17	2,894.74	1,053.12
Total Assets	117.41	7,706.02	2,644.22	11,113.52	2,681.99
Total Debt*	25.59	1,170.53	182.53	3,789.55	15.21
Net Current Assets	47.64	2,374.35	787.47	-571.66	806.03
Contingent Liabilities	--	0.53	13.88	320.61	108.28

Cashflow (₹ Cr)

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Cash From Operating Activities	-16.55	624.70	100.09	1,237.62	329.72
Cash Flow from Investing Activities	-23.81	-1,491.33	-417.89	-1,393.35	-274.50
Cash from Financing Activities	40.35	806.16	1.92	-73.17	-52.05
Net Cash Inflow / Outflow	-0.01	-60.47	-315.88	-228.90	3.17

Ratios

Profitability Ratios

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
ROCE (%)	23.58	17.00	9.74	6.39	20.41
ROE (%)	24.08	13.69	7.41	6.08	15.00
ROA (%)	14.67	10.11	6.28	3.17	13.23
EBIT Margin (%)	20.79	14.23	33.72	13.96	23.49
Net Margin (%)	12.96	8.34	18.00	4.53	15.31
Cash Profit Margin (%)	15.34	10.70	24.24	9.47	17.63

Growth Ratios

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Revenue Growth (%)	51.82	7.81	40.21	14.11	25.78
EBIT Growth (%)	41.95	-1.97	64.94	3.01	54.33
Net Profit Growth (%)	50.72	-14.00	92.05	-20.54	62.93
EPS Growth (%)	11.12	-14.02	91.99	-20.56	62.93
Book Value Growth (%)	188.47	12.34	7.80	5.85	15.99

Valuation Ratios

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Price / Earnings	9.60	38.79	69.53	42.79	27.61
Price / Book Value	1.56	5.02	4.96	2.53	3.86
Dividend Yield (%)	0.00	0.38	0.00	0.26	0.30
EV/EBITDA	8.18	23.59	38.74	17.40	18.24
Market Cap (₹ Cr)	146.61	27,044.64	11,014.26	14,156.47	9,144.50

Solvency Ratios

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Debt to Equity	0.31	0.22	0.08	0.68	0.01
Short term debt to equity ratio	0.21	0.03	0.08	0.30	--
Current Ratio	2.67	3.57	3.25	0.84	4.26
Quick Ratio	1.39	2.57	2.11	0.42	3.01
Interest Coverage	7.81	31.93	17.47	2.12	51.74

Operating Efficiency Ratios

	Indian Emulsifiers	Deepak Nitrite	Aether	Aarti	Garware Hi-Tech
Debtors to sales (%)	30.24	15.38	34.41	10.81	1.99
Asset Turnover	1.12	1.21	0.33	0.77	0.84
Receivable days	88.59	56.28	113.43	37.06	6.92
Inventory Days	103.50	36.90	161.02	59.06	51.75
Payable days	38.94	33.64	100.66	84.85	57.67
Cash Conversion Cycle	153.15	59.53	173.80	11.27	1.00