| P&L Statement | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Revenue | 239 | 247 | 297 | 295 |
| Cost of Material Consumed | 135 | 140 | 187 | 169 |
| Change in Inventory | 7 | 0 | -14 | 7 |
| Gross Margins | 43.51 | 43.32 | 37.04 | 42.71 |
| Employee Benefit Expenses | 19 | 21 | 25 | 26 |
| Other Expenses | 51 | 65 | 73 | 66 |
| EBITDA | 27 | 21 | 26 | 27 |
| OPM | 11.3 | 8.5 | 8.75 | 9.15 |
| Other Income | 0 | 0 | 0.24 | 0.4 |
| Finance Cost | 3 | 2 | 3.15 | 5 |
| D&A | 4 | 4 | 4.64 | 5 |
| EBIT | 23 | 17 | 21.36 | 22 |
| EBIT Margins | 9.62 | 6.88 | 7.19 | 7.46 |
| PBT | 20 | 19 | 17.41 | 17 |
| PBT Margins | 8.37 | 7.69 | 5.86 | 5.76 |
| Tax | 7 | 5 | 3.73 | 4 |
| PAT | 13 | 14 | 13.68 | 13 |
| NPM | 5.44 | 5.67 | 4.61 | 4.41 |
| EPS | 26.86 | 29.17 | 28.5 | 27.08 |
| Financial Ratios | 2022 | 2023 | 2024 |
|---|---|---|---|
| Operating Profit Margin | 8.5 | 8.75 | 9.15 |
| Net Profit Margin | 5.67 | 4.61 | 4.41 |
| Earning Per Share (Diluted) | 29.17 | 28.5 | 27.08 |
| Assets | 2022 | 2023 | 2024 |
|---|---|---|---|
| Fixed Assets | 77 | 76 | 119 |
| CWIP | 0 | 15 | 0 |
| Investments | 0 | 0 | 0 |
| Trade Receivables | 5 | 7.78 | 10 |
| Inventory | 35 | 49.15 | 41 |
| Other Assets | 8 | 20.07 | 10 |
| Total Assets | 125 | 168 | 180 |
| Liabilities | 2022 | 2023 | 2024 |
|---|---|---|---|
| Share Capital | 4.8 | 4.8 | 4.8 |
| FV | 10 | 10 | 10 |
| Reserves | 65 | 77.55 | 90 |
| Borrowings | 29 | 45 | 49 |
| Trade Payables | 14 | 26 | 22 |
| Other Liabilities | 12.2 | 14.65 | 14.2 |
| Total Liabilities | 125 | 168 | 180 |
| Cash-Flow Statement | 2022 | 2023 | 2024 |
|---|---|---|---|
| PBT | 19 | 17.41 | 17 |
| OPBWC | 26 | 25.18 | 28 |
| Change in Receivables | -1 | -2.12 | -2 |
| Change in Inventories | -7 | -14 | 8 |
| Change in Payables | -4 | 14 | -5 |
| Other Changes | -0.5 | -7.75 | 6.8 |
| Working Capital Change | -12.5 | -9.87 | 7.8 |
| Cash Generated From Operations | 13.5 | 15.31 | 35.8 |
| Tax | -4.5 | -4.5 | -3 |
| Cash Flow From Operations | 9 | 10.81 | 32.8 |
| Purchase of PPE | -12 | -19 | -33 |
| Sale of PPE | 0 | 0.009 | 0 |
| Cash Flow From Investment | -12 | -18.99 | -32.4 |
| Borrowing | 3 | 15 | 2.8 |
| Dividend | -0.7 | -0.72 | -0.7 |
| Equity | 0 | 0 | 0 |
| Others From Financing | -2 | -1.85 | -4.7 |
| Cash Flow from Financing | 0.3 | 12.43 | -2.6 |
| Net Cash Generated | -2.7 | 4.25 | -2.2 |
| Cash at the Start | 4 | 0.69 | 4.8 |
| Cash at the End | 1.3 | 4.94 | 2.6 |
Empire Spices and Foods Limited (ESFL) is a well-established name in India’s FMCG and food-processing industry, known for its wide range of high-quality spices, blended masalas, and processed food products. With a legacy of delivering authentic Indian flavors, the company has built a strong brand presence, especially in Western India, through its popular product lines that cater to both household and commercial consumers. ESFL focuses on maintaining consistency in taste, aroma, and purity by sourcing premium raw materials and following stringent quality control practices. Over the years, the company has expanded its product portfolio to include ready-to-cook mixes, pickles, and other food essentials, strengthening its position as a trusted consumer brand.
The company operates modern manufacturing facilities equipped with advanced grinding, blending, and packaging technologies, ensuring freshness and hygiene throughout its production cycle. Its well-developed distribution network covers multiple states, supported by strong relationships with wholesalers, retailers, and modern trade outlets. ESFL’s emphasis on research and development enables it to innovate new blends tailored to regional preferences and evolving consumer tastes. As demand for convenience foods and standardized spice blends continues to rise, the company is well-positioned to capitalize on emerging market trends. Its focus on building brand loyalty through consistent product quality and attractive packaging has helped it carve a niche in the competitive spices and FMCG space.
Empire Spices and Foods Limited’s unlisted shares present an interesting opportunity for investors seeking exposure to the fast-growing Indian FMCG sector before potential market events such as expansion, strategic partnerships, or a future public listing. The company benefits from stable demand drivers, including rising consumption, increasing preference for branded food products, and growing urbanization. While unlisted shares may involve liquidity risks and limited public disclosures, ESFL’s resilient business model, strong market presence, and long-standing brand equity make it a compelling option for long-term investors. With continued focus on innovation, capacity expansion, and deeper market penetration, the company is well-positioned to generate sustainable value and enhance shareholder returns in the years ahead.
Q:1 What documents do I need to provide to buy unlisted shares?Answer: You need to provide your client master report, PAN Card, and a cancelled cheque.These are required KYC documents as per SEBI regulations.
Q:2 What is a client master report (CMR) and how can I obtain one?Answer: A client master report (CMR) is a document that contains your account details with your broker.If you do not have one, you should ask your broker to provide it.
Q:3 How should I make the payment for the shares?
Answer: You should transfer the funds via RTGS, NEFT, IMPS, or cheque transfer.Please note that cash deposits are not accepted.
Q:4 Can I pay for the shares from a different bank account than the one mentioned in the CMR?Answer: No, payment must be made from the same bank account that is listed in the CMR to which the shares will be credited.
Q:5 Will you provide the bank details for the payment?
Answer: Yes, we will provide you with the bank details necessary for transferring funds after your booking confirmation.
Q:6 Is there a specific method of payment that I must use?
Answer: Yes, payment must be done through RTGS, NEFT, IMPS, or cheque transfer.Cash deposits are not allowed.
Q:7 What happens after I complete the payment for the shares?
Answer: Once your payment is confirmed and processed, the shares will be credited to the bank account specified in your client master report.
Q:8 How do I confirm my booking for Empire Spices and Foods Limited Unlisted Shares?Answer: You can confirm your booking by contacting us and agreeing on the trading price for the shares you wish to purchase.