EMA Partners India Ltd(EMAPARTNER)

NSE: EMAPARTNER

₹ 81-6.20%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 182 crUpdated: 24 Oct 2026

About

EMA Partners India Ltd is a talent solutions group. It does board and C-suite executive search under the EMA Partners brand, mid-to-senior hiring through James Douglas, and runs the tech-driven recruitment marketplace MyRCloud. Reported FY26 revenue was 87.36 (Rs Cr). It acquired Taggd, described as India's largest homegrown RPO company, for INR 95 crore, which gives combined FY26 revenue of ~INR 1,950 Mn, about 2.2x EMA's standalone base of INR 870 Mn.^[1][2][3]

Business segments

Segment revenue split in H1 FY26: EMA executive search 91%, James Douglas 6%, MyRCloud 3%.^[4]
In FY25, about 85% of revenue came from executive search under the EMA Partners brand, and James Douglas contributed about 9%.^[5]
New businesses (James Douglas and MyRCloud) brought in INR 39.7 Mn of revenue in FY26 with an EBITDA loss of INR 107.1 Mn. Their H2 revenue grew 134% over H1.^[3]
The core executive search business had EBITDA of about INR 250.8 Mn (~29% margin) and PAT of about INR 215 Mn in FY26.^[3]

Services and platforms

After the Taggd deal, the group covers board and C-suite search, mid-to-senior executive hiring (James Douglas), project-based hiring and end-to-end RPO (Taggd).^[2]
The company runs searches for business-line and functional leadership, including niche technical searches, and handles domestic and cross-border mandates (FY26 annual report).^[6]
Taggd's agentic AI platform TARA claims a 90% cut in screening time, a 40% improvement in first-time-right outcomes and a 25% improvement in select-to-offer.^[2]
The MatchCore AI platform for James Douglas Global RPO launched in H1 FY26. At that point no client contracts had been signed.^[4]
MyRCloud, the recruitment marketplace, turned around financially in FY26 after its FY25 loss of 2 crores.^[3][5]

Key operating numbers

Fee earners in core executive search: 44 in FY26, up from 27 in FY25.^[3][5]
Total consolidated headcount was 107 in FY26, flat year on year. James Douglas added about 30 people during FY26.^[3]
Taggd handled 24K permanent hires in FY26 and 550K+ cumulatively. Its active candidate database holds 78 Mn.^[2]
The repeat business rate was 65% in H1 FY26, and 49 new clients were signed in that half.^[4]

Geographies

Singapore and UAE together contributed about 30% of revenue in FY25.^[5]
The Dubai core business had revenue of about INR 23.5-24 crores and EBITDA of about INR 8.5 crores in FY26, compared with EBITDA of INR 4.26 crores in FY25.^[3]
Singapore revenue was about INR 3-3.5 crores in FY26, up from INR 1.76 crores in FY25, after a restructuring. A new managing partner joined around Jan-Feb 2026.^[3]

Customers

Executive search had 160+ clients in FY26. Taggd has 100+ enterprise clients.^[3][2]
The top 10 clients made up 35% of revenue in FY25, the same as in FY24.^[5]
The largest client accounted for about 12.5-13% of revenue in FY24. Its spend fell to INR 5-5.5 crores in FY25 after an internal restructuring at the client.^[5]
Clients include private equity investors building leadership teams for their portfolio companies, and companies in the Industrial and Life Sciences & Healthcare sectors.^[6]

Expansion plans

The company plans to add new Partners in India and the UAE, and to scale the RPO business after integrating Taggd.^[2]
James Douglas is aiming to expand in India's mid-to-senior hiring market, which the company puts at INR 30,000-35,000 crore and growing 12-15% a year.^[2]
As of Q4 FY26, 2-3 acquisition targets were being evaluated. An investment banker had been appointed in H1 FY26.^[3][4]

Recent developments

Q1 FY27: the company acquired Taggd for INR 95 crore in an all-cash deal.^[2]
24 Sep 2026: the company filed a fast-track scheme under Section 233 to merge three wholly owned subsidiaries, including EMA Partners Executive Search Pvt Ltd and Emagine People Technologies Pvt Ltd, into itself.^[7]
Q4 FY26: the board approved the company's first buyback, 7.25 lakh shares (3.12% of paid-up capital) at INR 100 per share. Promoters are not taking part.^[3]

Market Cap

₹182 Cr

High / Low

₹104 / 65

Stock P/E

15.3

Price / Book

1.2

Book Value

₹66

EPS

₹5.3

No. of Shares

2.32 Cr

ROCE

10.3%

ROE

8.5%

OPM

16.8%

Debt / Equity

0.00

Sales

₹87 Cr

Net Profit

₹12 Cr

Promoter holding

65.8%

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