eMudhra

Quick check

The five things to look at first. Open one for more.

• DebtAdequate safetyRated A by ICRA.
• ResultsGrowingIn the Jun 2026 quarter, sales rose 30% and profit rose 28% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 54% of the company, about the same as in Jun 2025.
• ValuationCheap vs its pastThe share trades at 25.5 times its yearly earnings (P/E), cheaper than 100% of the time in the last 4 years. Its usual P/E is about 58.

eMudhra against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)25.5 against a typical 24.9: pricier than most peers (1st = cheapest).54th of 106
• Sales growth+29.9% against a typical +20.8% from a year earlier.33rd of 85
• Profit growth+28% against a typical +5.6% from a year earlier.31st of 77
• Share price, 3 months−25% against a typical −10%.78th of 93
• Size₹ 2,777.8 Cr. market value against a typical ₹ 206.6 Cr. (1st = largest).14th of 100

Exchange filings and their impact on the company.

• 22 Oct 2026Press ReleaseLow impactNeutralPrice +2.3% on 23 Oct
  eMudhra to quit tiny global SSL/TLS business (~1% of sales) to focus on core enterprise trust solutions.

  eMudhra's board decided to voluntarily exit the global SSL/TLS certificate business after a recent incident involving select intermediates that was revoked within 14 hours with no end-entity certs, breach or infrastructure compromise. The company said global SSL/TLS is only about 1% of global revenue with falling ROI due to rising compliance costs and free issuance by large players. Roots will serve during transition with free partner replacements and continued revocation services, while DSC, eSign, emCA, CertiNext, emSigner and SecurePass businesses are unaffected.

  Full analysisFiling
• 21 Oct 2026Press ReleaseLow impactNegativePrice −20% that day
  Browser distrust of 8 TLS intermediates puts ~1% of revenue at risk with reputation overhang but no breach and India business intact.

  eMudhra said 8 intermediate CAs under its ECC root for the global TLS business were distrusted after a key-generation flaw created weak keys that were published to browser stores and flagged by a researcher to Apple, Google, Microsoft and Mozilla. The company said there was no infrastructure compromise or data breach, and its India DSC and eSign businesses run on separate infrastructure and are unaffected. The affected global TLS business is about 1% of revenue, though the company flagged reputational risks that cannot be quantified, and it is issuing replacement certificates and working with root programs.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Venkatraman Srinivasan

Executive Chairman of the Board, Founder

Ritesh Raj Pariyani

Chief Financial Officer

Janarthanan S

Senior Vice President, Head - Customer Success

Biju Varghese

Senior Vice President, Head of Business Development - India, APAC

Johnson Xavier

Compliance Officer, Company Secretary

A. M. Kiran

Vice President - Operations and Administration

Venu Madhava

Whole-time Director, Head - Legal and Human Resources

Kaushik Srinivasan

Whole-Time Director