EFACTOR - E Factor Experie

📊 NSE: EFACTOR 🏢 Miscellaneous 📅 Last Updated: 12/13/2025 21:43

💰 Financial Performance

Revenue Growth by Segment

Total revenue grew 189.96% YoY to INR 52.6 Cr in H1 FY26. While specific percentage splits per segment were not disclosed, growth was driven by experiential events, tourism projects, and turnkey assignments.

Geographic Revenue Split

Not disclosed in available documents. The company mentioned expanding into 'newer geographies' and strengthening partnerships with 'various state tourism boards'.

Profitability Margins

EBITDA margin improved to 14.71% in H1 FY26 from 2.81% in H1 FY25. PAT margin rose to 9.62% from 1.39% YoY. This improvement is attributed to operational efficiencies and a shift towards higher-margin permanent installations.

EBITDA Margin

14.71% in H1 FY26, a significant increase from 2.81% in H1 FY25, reflecting the scale and consistency of execution across marquee projects.

Capital Expenditure

Not disclosed in available documents. However, Net Worth increased from INR 50.43 Cr in FY24 to INR 70.79 Cr in FY25, and further to INR 76.16 Cr in H1 FY26, reflecting retained earnings and capital strength.

Credit Rating & Borrowing

Not disclosed in available documents. Current borrowings stood at INR 20.01 Cr in H1 FY26, up from INR 13.84 Cr in FY25, to support the execution of an order book exceeding INR 125 Cr.

⚙️ Operational Drivers

Raw Materials

Event infrastructure (stages, tents, lighting), technical equipment, and specialized manpower services. These constitute the primary costs for experiential events and tourism projects.

Key Suppliers

Not disclosed in available documents. The company utilizes an 'experienced supply chain' to support execution.

Capacity Expansion

Current capacity is managed by multiple teams with 10-20 years of experience. The company is targeting a revenue of INR 250 Cr for FY26, which is a 45.7% increase over FY25 revenue of INR 171.55 Cr.

Raw Material Costs

Other expenses (direct project costs) were INR 44.86 Cr in H1 FY26, representing 85.2% of revenue. This is an increase from INR 17.63 Cr in H1 FY25, tracking the 189.96% revenue growth.

Manufacturing Efficiency

Not applicable for a service-based experiential company. Efficiency is measured by the ability to execute multiple marquee projects simultaneously using established teams.

📈 Strategic Growth

Expected Growth Rate

30-40%

Growth Strategy

Growth will be achieved by executing a confirmed order book of over INR 125 Cr and targeting a total revenue of INR 250 Cr for FY26 (45.7% growth over FY25). The strategy involves deepening partnerships with state tourism boards, expanding into cultural infrastructure, and securing permanent installations that provide annuity-based recurring revenue.

Products & Services

Experiential events, destination management, storytelling, tourism projects, and permanent experiential installations.

Brand Portfolio

E-Factor

New Products/Services

Permanent experiential installations and annuity-based projects. These are expected to contribute to a more stable revenue flow, though specific % contribution was not disclosed.

Market Expansion

Expanding into newer geographies and cultural segments. The company aims for 30-40% growth in FY27 by leveraging these new markets.

Market Share & Ranking

Not disclosed in available documents. The company identifies as one of India's leading experience design and destination management companies.

Strategic Alliances

Long-term partnerships with various state tourism boards for destination management and cultural projects.

🌍 External Factors

Industry Trends

The industry is shifting towards permanent cultural infrastructure and installations that offer longevity and annuity-based revenue. This evolution helps companies move away from purely seasonal event-based models to more stable, year-round operations.

Competitive Moat

Durable advantage through a 24-year track record (est. 2001) and specialized storytelling expertise. This moat is sustainable because marquee government projects require a high level of trust and proven execution capability, which the company possesses.

Macro Economic Sensitivity

Highly sensitive to government spending on tourism and cultural infrastructure. A 10% shift in state tourism budgets could significantly impact the project pipeline.

Consumer Behavior

Growing demand for experiential storytelling and destination-based cultural experiences among the public and government bodies.

⚖️ Regulatory & Governance

Industry Regulations

Tourism ecosystem policies and government project formatting. Changes in how the government structures annuity-based projects will impact the longevity and financial structuring of permanent installations.

Taxation Policy Impact

Effective tax rate of approximately 24.6% based on H1 FY26 tax expense of INR 1.65 Cr on PBT of INR 6.71 Cr.

Legal Contingencies

Postal Ballot for the appointment of Mrs. Sonali Thakore as Whole Time Director (Ordinary Resolution). No pending court cases or values in INR Cr were disclosed in the available documents.

⚠️ Risk Analysis

Key Uncertainties

Key business risks include the seasonality of the business (H2 skew) and potential regulatory changes in the tourism sector. These could impact the achievement of the INR 250 Cr revenue target for FY26.