EMEA—56

Emerald Leisures Ltd

Leisure & RecreationVerified

Score breakdown

Sentiment+30Risk penalty-3Missing signals-3

Quality breakdown

Key fields100Profile38Conclusion96AI synthesis40Observations3

Emerald Leisures Ltd has a negative equity position of INR -755.54 million and a debt-to-equity ratio of -1.8, indicating a highly leveraged capital structure [doc:HA-latest]. The company's liquidity is constrained, with a current ratio of 0.26, suggesting limited ability to meet short-term obligations [doc:valuation snapshot]. Operating cash flow is negative at INR -183.44 million, and free cash flow is also negative at INR -86.45 million, reflecting ongoing cash outflows [doc:HA-latest]. Profitability metrics show mixed results. The company reports a return on equity of 14.29%, which is positive but must be interpreted cautiously given the negative equity base [doc:valuation snapshot]. Return on assets is negative at -12.25%, indicating that the company is not generating returns sufficient to cover the cost of its assets [doc:valuation snapshot]. Gross profit of INR 123.79 million is a positive sign, but the net loss of INR 107.98 million highlights significant operational inefficiencies or cost overruns [doc:HA-latest]. The company's revenue is concentrated in its core leisure and recreation services, with no disclosed geographic diversification. This lack of diversification increases exposure to regional economic downturns or regulatory changes [doc:HA-latest]. No specific segment breakdown is provided, but the business is described as operating in India, suggesting a domestic focus [doc:HA-latest]. Growth trajectory is uncertain. The company reported a revenue of INR 150.03 million in the latest period, but no forward-looking guidance is provided. The negative net income and operating cash flow suggest that the company is not currently in a growth phase and may require external financing to sustain operations [doc:HA-latest]. Risk factors include liquidity constraints and a negative net cash position after subtracting total debt. The company's dilution potential is assessed as low, but the negative equity position and high leverage increase the risk of further dilution if additional capital is required [doc:risk assessment]. No recent events such as filings or transcripts are disclosed in the provided data [doc:HA-latest].

Profile

CompanyEmerald Leisures Ltd

TickerEMEA.BO

SectorConsumer Cyclicals

BusinessCyclical Consumer Services

Industry groupCyclical Consumer Services

IndustryLeisure & Recreation

AI analysis

Business. Emerald Leisures Limited operates in the leisure and recreation sector, providing club and sports complex services with associated hospitality offerings [doc:HA-latest].

Classification. The company is classified under the Leisure & Recreation industry within the Cyclical Consumer Services business sector, with a confidence level of 0.92 [doc:verified market data].

Key takeaways

The company has a negative equity position and a high debt-to-equity ratio, indicating a leveraged capital structure.
Return on equity is positive but must be interpreted with caution due to the negative equity base.
The company is not generating sufficient returns on assets, with a negative ROA of -12.25%.
Revenue is concentrated in a single business line with no geographic diversification.
Liquidity is constrained, with a current ratio of 0.26 and negative operating cash flow.
The company is not currently in a growth phase, with a net loss and negative operating cash flow.
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## RATIONALES

Financial snapshot

PeriodHA-latest

CurrencyINR

Revenue$150.0M

Gross profit$123.8M

Operating income$21.8M

Net income-$108.0M

R&D—

SG&A—

D&A—

SBC—

Operating cash flow-$183.4M

CapEx-$315.0k

Free cash flow-$86.4M

Total assets$881.6M

Total liabilities$1.64B

Total equity-$755.5M

Cash & equivalents—

Long-term debt$1.36B

Annual history (last 5)

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Valuation

Market price—

Market cap—

Enterprise value—

P/E—

Reported non-GAAP P/E—

EV/Revenue—

EV/Op income—

EV/OCF—

P/B—

P/Tangible book—

Tangible book-$755.5M

Net cash-$1.36B

Current ratio0.3

Debt/Equity-1.8

ROA-12.2%

ROE14.3%

Cash conversion1.7%

CapEx/Revenue-0.2%

SBC/Revenue—

Asset intensity—

Dilution ratio0.0%

Risk assessment

Dilution riskLow

Liquidity riskMedium

Net cash is negative after subtracting total debt.

Industry benchmarks

Activity: Leisure & Recreation · cohort 1 companies

MetricEMEAActivity

Op margin14.5%-14.1% medp25 -29.2% · p75 1.0%top quartile

Net margin-72.0%-19.6% medp25 -35.6% · p75 -3.5%bottom quartile

Gross margin82.5%40.6% medp25 19.8% · p75 75.0%top quartile

CapEx / revenue-0.2%29.8% medp25 29.8% · p75 29.8%bottom quartile

Debt / equity-180.0%493.6% medp25 270.6% · p75 716.7%bottom quartile

Source data

Underlying data the analysis-pipeline pulls and audits. Fetch timestamps + content hashes show when each source was last refreshed.

Company fundamentalsperiod FQ-7 · history via verified-market-data

no public URL

2026-05-03 13:11 UTC#ae96ccd8

Source: analysis-pipeline (hybrid)Generated: 2026-05-03 13:13 UTCJob: 18dc2783