EMA Partners India Issues Corrigendum to Buyback Letter of Offer for ₹725 Lakhs

EMA Partners India Limited has commenced the buyback of up to 7,25,000 (Seven Lakh Twenty-Five Thousand) fully paid-up equity shares of face value ₹5/- each, at a price of ₹100/- per equity share. The aggregate buyback size is ₹725 Lakhs (Rupees Seven Hundred Twenty-Five Lakhs Only), excluding transaction costs. The offer is being undertaken through the tender offer route on the NSE EMERGE platform. On May 07, 2026, the company issued a Corrigendum to the Letter of Offer dated May 05, 2026, revising certain key terms including the general category buyback entitlement ratio and correcting a financial ratio, as notified to the National Stock Exchange of India Limited.

Corrigendum: Key Amendments to Letter of Offer

The Corrigendum, issued under the authority of the Board and the circular resolution passed by the Buy Back Committee on May 07, 2026, amends several provisions of the original Letter of Offer. Notably, the buyback entitlement ratio for the general category has been revised, and a correction has been made to the standalone debt-equity ratio for the year ended March 31, 2024 under the Key Financial Ratios section — from 0.14 to 0.22. Additionally, a new paragraph (19.5.14) has been inserted clarifying that post-acceptance, shareholders may be left with odd lots of shares subject to prevailing regulations.

The revised buyback entitlement ratios, as amended by the Corrigendum, are as follows:

Category: Revised Ratio of Buyback Actual Entitlement (%) Reserved Category (Small Shareholders): 3 Equity Shares out of every 31 held 9.69768200877116% General Category (All Other Eligible Shareholders): 8 Equity Shares out of every 95 held 8.42469945525517%

The reserved category entitlement ratio remains unchanged from the original Letter of Offer. Eligible shareholders under the general category can verify their revised buyback entitlement on the Registrar's website at www.bigshareonline.com . The company will also circulate an email to eligible shareholders under the general category with the revised entitlement details.

Newspaper Publication for Letter of Offer Dispatch

The Letter of Offer was submitted to SEBI on May 05, 2026, and dispatched to eligible shareholders on the same date through electronic mode. The newspaper advertisement confirming the dispatch was published on May 06, 2026 in the following publications:

Sr. No. Newspaper Language Editions 1. Business Standard English All Editions 2. Business Standard Hindi All Editions 3. Navshakti Marathi All Maharashtra

The Corrigendum will be published in the same newspapers in which the Letter of Offer was published. The Letter of Offer and Corrigendum are available on the websites of SEBI, the company, the Manager to the Buyback (Indorient Financial Services Limited), the Registrar to the Buyback (Bigshare Services Private Limited), and the NSE. Shareholders who did not receive the Letter of Offer electronically may request a physical copy from the company or the Registrar.

Key Buyback Details

The following table summarises the key parameters of the buyback offer:

Parameter: Details Buyback Price: ₹100/- per equity share Total Buyback Size: Up to ₹725 Lakhs Number of Shares: Up to 7,25,000 equity shares Face Value: ₹5/- per share % of Paid-up Capital (Standalone): 6.57% of aggregate paid-up equity share capital and free reserves % of Paid-up Capital (Consolidated): 4.89% of aggregate paid-up equity share capital and free reserves Record Date: Thursday, April 30, 2026 Buyback Opens: Thursday, May 07, 2026 Buyback Closes: Wednesday, May 13, 2026 Route: Tender Offer via Stock Exchange Mechanism Designated Stock Exchange: NSE Manager to the Buyback: Indorient Financial Services Limited Registrar to the Buyback: Bigshare Services Private Limited

Schedule of Activities

The Board of Directors approved the proposal on April 23, 2026. The public announcement was made on April 24, 2026, and published on April 25, 2026. The Letter of Offer was submitted to SEBI on May 05, 2026, and dispatched to eligible shareholders on the same date.

Activity: Date Board Meeting Approval: April 23, 2026 Public Announcement: April 24, 2026 Record Date: April 30, 2026 Letter of Offer Submitted to SEBI: May 05, 2026 Letter of Offer Dispatched to Shareholders: May 05, 2026 Newspaper Advertisement Published: May 06, 2026 Corrigendum Issued: May 07, 2026 Buyback Opening Date: May 07, 2026 Buyback Closing Date: May 13, 2026 Last Date for Receipt of Tender Form: May 13, 2026

Financial Impact

Based on the audited standalone and consolidated financial statements as of March 31, 2026, the buyback is expected to improve the Return on Net Worth and EPS. Assuming 100% acceptance, the promoter shareholding may increase to 65.76% from 63.71%, while public shareholding may decrease to 34.24% from 36.29%. The promoters have stated they will not participate in the buyback. Except as detailed in the Corrigendum, all other information and terms of the buyback as disclosed in the Letter of Offer remain unchanged. The Board of Directors has confirmed that the Corrigendum contains true, factual, and material information and does not contain any misleading information, as required under Regulation 24(i)(a) of the SEBI Buy Back Regulations.

EMA Partners India Limited has formally announced an investor presentation for its FY26 earnings call, scheduled for Friday, April 24, 2026, at 04:00 PM (IST). The company submitted the presentation to the National Stock Exchange of India Limited under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The presentation covers the audited financial results for both the half year and full year ended March 31, 2026, and is available on the company's website at https://www.emapartners.in/investor-relation.html . The document was signed by Company Secretary & Compliance Officer Smita Singh on behalf of the company.

Financial Performance Overview

The presentation reveals EMA Partners India's consolidated financial performance for FY26, demonstrating the company's growth trajectory in the executive search sector.

Financial Metric FY26 FY25 Change Revenue from Operations ₹873.64 Mn ₹739.30 Mn +18.2% EBITDA ₹143.74 Mn ₹133.13 Mn +8.0% EBITDA Margin 16.45% 18.01% -156 bps PAT ₹123.05 Mn ₹126.14 Mn -2.4% PAT Margin 14.08% 17.06% -298 bps Diluted EPS 5.29 6.73 -21.4%

The company's revenue growth of 18.2% reflects its expanding market presence, though margin compression indicates investment in new business verticals during the build-out phase.

Half-Yearly Performance Analysis

The H2-FY26 performance shows continued momentum with sequential and year-over-year growth in revenue.

Parameter H2-FY26 H1-FY26 H-o-H Growth H2-FY25 Y-o-Y Growth Revenue ₹468.36 Mn ₹405.28 Mn +15.6% ₹347.66 Mn +34.7% EBITDA ₹66.75 Mn ₹76.99 Mn -13.3% ₹39.38 Mn +69.5% EBITDA Margin 14.25% 19.00% -475 bps 11.33% +292 bps PAT ₹51.97 Mn ₹71.08 Mn -26.9% ₹57.96 Mn -10.3% Diluted EPS 2.23 3.04 -26.6% 2.75 -18.9%

Strategic Business Initiatives

The presentation outlines several key strategic initiatives driving the company's growth:

Expansion Strategies:

Addition of new partners across India, UAE, and Singapore

Strategic expansion in mid to senior level hiring through James Douglas Professional Search

Enhanced sector coverage and deepening of existing sectors

Market Opportunity Assessment: The company identifies significant market potential, with India's professional services and talent advisory market valued at ₹30,000–₹35,000 crore, expanding at 12–15% annually. The presentation notes that direct competitors currently report approximately ₹220 crore revenue, with the next tier operating at around ₹100 crore revenue.

Digital Transformation and Technology Investments

EMA Partners India is investing in digital capabilities through several initiatives:

Enhanced search capabilities for faster and more accurate information retrieval

Improved client engagement platforms offering personalized experiences

Strengthened data security with advanced cybersecurity measures

Development of MyRCloud platform for comprehensive recruitment solutions

Proposed Share Buyback Plan

The presentation includes details of a proposed share buyback plan with expected financial impact:

Metric Before After EPS 5.29 5.46 ROE 8.45% 8.67% Shares Outstanding 2,32,46,426 2,25,21,426

Business Model and Competitive Position

The company positions itself as India's first listed global executive search platform, with operations spanning multiple continents through the EMA Partners International network. The presentation emphasizes the company's comprehensive service portfolio, deep industry expertise, and strong client retention rates supporting stable revenue streams.

The mature existing business continues to deliver strong profitability with approximately 29% EBITDA and 25% profit after tax margins, generating ₹250.8 million EBITDA and ₹215 million profit after tax. However, new business verticals are currently in the investment phase, generating ₹39.7 million revenue while operating at elevated cost levels with total costs of ₹148.3 million.

Management and Governance

The presentation highlights the company's leadership structure, including experienced board members and management team with deep industry background. The company maintains a founder-led management approach with professional leadership possessing over 25 years of experience in the sector.

We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.

Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.

As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation.

We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors.

Disclaimer:

The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information.

This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences.

The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates.

We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk.

This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use.

By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided.

We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.