eMudhra Share Price Target 2027: Is Rs 423 Realistic? Bull Case Points to Rs 512

Investors weighing a eMudhra target price for 2027 should start with where the stock sits today. At Rs 360.75 on 10 November 2026, it is 47.1% below its 52-week high of Rs 681.60 and 14.9% above its 52-week low of Rs 314.00. That range spans 117% from low to high, so the entry point matters as much as the eMudhra price forecast itself.

This article builds the eMudhra share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario states its assumptions, so you can trace how the base case, the bull case and the downside risk level were reached and test them against your own view.

Click Here – Get Free Investment Predictions

eMudhra Stock Analysis: Company Overview and Key Stats

eMudhra (NSE: EMUDHRA) has a market capitalisation of Rs 2,994 crore. In FY26 it reported revenue of Rs 713.18 crore and net profit of Rs 110.05 crore. The table collects the figures the eMudhra share price target is built on.

Metric	Value
Company	eMudhra
NSE Ticker	EMUDHRA
CMP (10 November 2026)	Rs 360.75
52-Week High	Rs 681.60
52-Week Low	Rs 314.00
Market Cap	Rs 2,994 crore
PE Ratio (TTM)	24.14
Industry PE	19.36
Price to Book	3.06
Return on Equity	12.53%
Debt to Equity	0.02
EPS (TTM)	Rs 14.98
Dividend Yield	0.35%
12-Month Base Target	Rs 423
Bull Case	Rs 512
Downside Risk Level (not a target)	Rs 289

Why Is eMudhra Share Price Target Set at Rs 423 for 2027?

The arithmetic is short. Trailing EPS of Rs 14.98 grown for one year gives a forward EPS estimate of Rs 17.54, and multiplying it by the unchanged PE of 24.14 gives the Rs 423 base-case eMudhra stock target. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the eMudhra Target Price: Five Years of Results

eMudhra grew revenue from Rs 183.74 crore in FY22 to Rs 713.18 crore in FY26, a compound annual growth rate of 40.4%. Net profit grew more slowly, from Rs 41.14 crore to Rs 110.05 crore (27.9% a year), which points to margin pressure alongside the sales growth.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	183.74	41.14	5.86	1.25
FY23	254.06	61.20	8.01	1.25
FY24	380.04	76.35	9.50	1.25
FY25	527.84	87.23	10.22	1.25
FY26	713.18	110.05	13.02	1.25

FY26 revenue growth was 35.1%, slower than the four-year average of 40.4%, and net profit moved up 26.2%. EPS rose from Rs 9.50 in FY24 to Rs 13.02 in FY26. The FY27 outlook for the eMudhra price target depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

eMudhra converted 15.4% of FY26 revenue into net profit, against 16.5% in FY25, within a five-year range of 15.4% to 24.1%. EBITDA margin was 23.9% in FY26 versus 25.1% in FY25.

In the September 2026 quarter, revenue was Rs 209.31 crore, up 19.6% from the same quarter a year earlier, while net profit of Rs 33.40 crore was up 26.3%. EBITDA came in at Rs 52.05 crore, up 20.1% year on year. The next quarterly result is the first test of whether the earnings assumption behind the eMudhra stock target holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.02, and shareholders' equity grew from Rs 154.10 crore in FY22 to Rs 912.59 crore in FY26. Operating cash flow in FY26 was Rs 132.85 crore against capital expenditure of Rs 185.37 crore, leaving negative free cash flow of Rs 52.52 crore. In FY25 free cash flow was Rs 18.42 crore, so cash generation has not been steady year to year.

Valuation Check for the eMudhra Stock Target: PE, Price to Book and ROE

At a PE of 24.14 against an industry PE of 19.36, eMudhra trades at a premium to its industry. Price to book is 3.06 on a book value of Rs 118.15 per share, and return on equity is 12.53%. A PE of 24.14 equals an earnings yield of 4.1%, and the FY26 dividend of Rs 1.25 per share gives a yield of 0.35%.

Shareholding Pattern and Institutional Holding

Promoters held 54.40% of eMudhra in September 2026, and promoter holding has stayed near 54.40% since September 2025. Foreign institutional investors (FII) held 3.54% and domestic institutions (DII) held 8.75%, which puts total institutional holding at 12.29%. FII holding fell from 4.15% in September 2025 to 3.54% in September 2026. Public shareholders own the remaining 33.32%.

eMudhra Share Price Targets for the Short Term and 12 Months

Short Term eMudhra Stock Target Levels: Technical Setup

At Rs 360.75 on 10 November 2026, eMudhra trades below its 50-day simple moving average of Rs 510.46 and below its 200-day exponential moving average of Rs 515.45. The 14-day RSI reads 36.4, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 510.46 (50-day simple moving average) and the nearest support is Rs 314.00 (52-week low). A sustained move above Rs 510.46 would improve the short-term setup, while a close below Rs 314.00 would shift attention to the next support.

12 Month eMudhra Target Price for 2027

The 12-month target of Rs 423 means a move of 17.3% up from Rs 360.75 over the next 12 months. It would still leave the stock 37.9% below its 52-week high of Rs 681.60. Anyone checking the eMudhra share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.

How EPS Growth and PE Multiple Change the eMudhra Target Price

EPS Growth	PE 19.31	PE 24.14	PE 27.76
0.0% (EPS Rs 14.98)	Rs 289	Rs 362	Rs 416
17.1% (EPS Rs 17.54)	Rs 339	Rs 423	Rs 487
23.1% (EPS Rs 18.44)	Rs 356	Rs 445	Rs 512

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the eMudhra price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for eMudhra Stock Target in 2027

Bull Case Rs 512

The bull case eMudhra price target needs EPS growth of 23.1%, which lifts forward EPS to Rs 18.44, and a PE multiple that rises 15% to 27.76. That gives Rs 512, 41.9% above the current price and below the 52-week high of Rs 681.60.

Downside Risk Level Rs 289

The downside risk level is not a target. It assumes EPS stays flat at Rs 14.98 and the PE falls 20% to 19.31. That gives Rs 289, 19.9% below the current price and below the 52-week low of Rs 314.00.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	23.1%	27.76	Rs 512	+41.9%
Base Case	17.1%	24.14	Rs 423	+17.3%
Downside Risk	0.0%	19.31	Rs 289	-19.9%

Key Risks to the eMudhra Target Price for 2027

Growth Slowdown Risk for the eMudhra Price Target

Revenue in the September 2026 quarter was up 19.6% year on year, and FY26 revenue growth was 35.1%. If growth slows from here, the EPS estimate behind the eMudhra stock target will need revising.

Liquidity and Size Risk

eMudhra has a market capitalisation of Rs 2,994 crore. Institutional holding is 12.29%, and promoters hold 54.40%. Stocks of this size can move sharply on small volumes, and exits can take longer than entries.

Valuation and Margin Risk

Net margin was 15.4% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 24.14 versus an industry PE of 19.36, a de-rating toward the downside-risk PE of 19.31 would cut the price even if earnings hold.

Market and Technical Risk

Technical indicators add short-term risk: the 14-day RSI is 36.4 and the MACD sits above its signal line. A broad fall in the Nifty 50 or the Sensex can override company fundamentals for weeks at a time.

How to Invest in eMudhra

Start with the live price and volume. Any eMudhra share price target is only as current as the data behind it, and the data here is as of 10 November 2026, so refresh the Rs 360.75 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check eMudhra's PE, ROE, debt and shareholding in one place.

Check eMudhra fundamentals on the Univest Screener

Then compare the three eMudhra target price scenarios with your own view. If you expect EPS growth below 17.1%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track eMudhra live price and get daily stock recommendations.

Conclusion

The eMudhra share price target for 2027 is Rs 423 in the base case, with Rs 512 as the bull case. The support for that view is arithmetic you can check: EPS grew 17.1% a year over FY24 to FY26, and the stock trades at a PE of 24.14. The risks are equally concrete, including a PE of 24.14 that sits above the industry PE of 19.36 and a downside scenario that cuts the price 20% if earnings stall. Use these numbers as a framework for judging the eMudhra price target, check them against the latest filings, and size any position to your own risk appetite.

FAQs on eMudhra Share Price Target 2027

What is the eMudhra share price target for 2027?

Ans. The base-case eMudhra share price target for 2027 is Rs 423, which is 17.3% above the price of Rs 360.75 on 10 November 2026. The bull case is Rs 512 and the downside risk level, which is not a target, is Rs 289. All three come from one method: forward EPS multiplied by a PE multiple, using only reported results. They are model estimates and not guaranteed outcomes, and the next quarterly result is the first check on the EPS assumption.

What is the eMudhra share price today?

Ans. As of 10 November 2026, 9:32 AM IST, eMudhra (NSE: EMUDHRA) trades at Rs 360.75, down 4.49% on the day. That is 47.1% below the 52-week high of Rs 681.60 and 14.9% above the 52-week low of Rs 314.00. The market capitalisation of Rs 2,994 crore places it among small-cap stocks. Prices change through the trading session, so check the live quote before acting on any level in this article.

Is eMudhra a buy or sell at the current price?

Ans. The data points both ways. On the positive side, EPS has grown 17.1% a year over FY24 to FY26 and the base case implies 17.3% upside; on the cautious side, the PE of 24.14 sits above the industry PE of 19.36, and the downside risk level of Rs 289 is 20% below the current price. Whether eMudhra fits your portfolio depends on your time horizon, position size and risk appetite. Consult a SEBI-registered advisor before investing, as this article is not investment advice.

What are the bull case target and downside risk level for eMudhra shares?

Ans. The bull case in the eMudhra share price target for 2027 is Rs 512, which assumes 23.1% EPS growth and a PE of 27.76, a 15% re-rating from today's multiple. That is 41.9% above the current price and below the 52-week high of Rs 681.60. The downside risk level is Rs 289, which assumes flat EPS and a PE of 19.31, 20% lower than today. It sits 19.9% below the current price and below the 52-week low of Rs 314.00, and it marks a risk to watch, not a target.

What are the main risks to the eMudhra price target?

Ans. Four risks matter most for the eMudhra share price target: slower revenue or profit growth, a PE de-rating, thin liquidity or size risk, and weakness in the broader market. With a market capitalisation of Rs 2,994 crore, the stock can move sharply on small volumes, and exits can take longer than entries. A fall to the downside-risk PE of 19.31 would cut the price even if earnings hold.

What is the PE ratio of eMudhra and how does it compare with the industry?

Ans. The PE ratio of eMudhra is 24.14, against an industry PE of 19.36, which is a premium to the industry. Price to book is 3.06 and return on equity is 12.53%, and the PE equals an earnings yield of 4.1%. The base case holds the PE unchanged, so the eMudhra share price target moves only with earnings, while the bull and downside scenarios change the multiple by +15% and -20%.

Who owns eMudhra, and what is the promoter holding?

Ans. Promoters held 54.40% of eMudhra in September 2026. FII held 3.54%, DII held 8.75% and the public held 33.32%. Together the two institutional groups hold 12.29%. Shareholding is filed every quarter, so it is worth rechecking after each result.

What were eMudhra's latest quarterly results?

Ans. In the September 2026 quarter, eMudhra reported revenue of Rs 209.31 crore (up 19.6% year on year) and net profit of Rs 33.40 crore (up 26.3%). For comparison, FY26 full-year revenue growth was 35.1% and net profit moved up 26.2%. Each new quarter either supports or weakens the EPS growth of 17.1% assumed in the base case.