Emiac Technologies Limited an AI - based, technology and digital solutions company committed to empowering brands with useful digital marketing services. The combined approach enables organizations to scale, improve operations, and build a lasting and sustainable digital presence. With a comprehensive suite of services spanning content creation, branding & online reputation management, digital marketing, and technical services & business automation, they serve as a one-stop partner for brands seeking long-term growth and digital transformation. With a wide service offering and content at its core, they craft digital strategies that support business outcomes. The expertise covers marketing funnels, automation ecosystems, platform development, media planning and brand storytelling, allowing to deliver connected and strong campaigns across both online and offline platforms. Whether it’s building awareness, improving conversion, or scaling operational efficiency, they have provided effective solutions for the clients by managing campaigns with clear reach, engagement, and ROI. The Company serves as a content and digital partner delivering campaigns, multilingual communication strategies, and creative solutions that cater to diverse audiences. The diverse service portfolio and focus strategies have supported in building an industry-wide client selection across various geographies. The steady efforts and client specific services have helped work with clientele spanning across Digital marketing, BFSI, Healthcare, IT & Technology, Education, Automobile and many more industries. In additional to multiple industries, they offer the services across multiple geographies, as well. To ensure wider reach and better engagement, they offer the content services in various vernacular language, allowing brands to communicate across global and regional markets. They engage with third-party service providers for certain specific requirements in the course of the business, including technology tools, publishing networks, and platform-based solutions that complement the core offerings. While they do not maintain or own any proprietary media inventory, they leverage the partnerships with publishers, influencers, and automation platforms to deliver services that support content marketing, link building, digital campaigns, and business process automation. These collaborations enable to grow smoothly, ensure reliable delivery, and provide comprehensive digital marketing solutions to the clients. As per financial performance, Emiac Technologies Limited has posted total income / net profits of Rs 2.95 / 0.38 Cr (FY23), Rs 5.38 / Rs 0.83 Cr (FY24), Rs 20.05 Cr / 4.21 Cr (FY25) and Rs 14.48 Cr / 4.54 Cr (upto Q2 FY26). So as per previous financials data, company has shown good growth, but sudden rise in net-profit just before IPO and higher trade receivables (around 38% of FY25 total sales) raises concerns. Company has an average EPS of Rs 2.88 and average RoNW of 58.38% for last three fiscals. Issue is priced at a P/BV of 6.50 as per NAV of Rs 15.07/- as on 30.09.25 If we attribute latest earnings of FY24, FY25 and annualised FY26 on equity post issue, then asking price is at a P/E of around 143.55, 28.47 and 13.19 respectively. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, Smart Horizon Capital Advisors Private Limited is associated with this IPOs, and has handled 21 IPOs in last three fiscal years. From last 10 IPOs, three opened below issue price and remaining all above issue price or at par, on the day of listing. As of now, from last 10 IPOs, six are trading below issue price and remaining all are trading above issue price or at par. (as on 23.03.26 ) As per financials, Emiac Technologies Limited has shown good growth, RoNW is 46.71% and P/E is 143.55, 28.47 and 13.19 respectively as per FY24, FY25 and annualised FY26 earnings. So issue looks fully priced. But, sudden rise in net-profit just before IPO and higher trade receivables raises doubts. Company is an AI- based, technology and digital solutions company committed to empowering brands with useful digital marketing services, which is highly growing & competitive business segment. Performance of BRLM is poor post listing. So, we give AVOID rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.
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