eMudhra Share Price

eMudhra Limited provides trust and enterprise solutions to individuals and organizations worldwide. The company provides enterprise signing solutions, such as emSinger enterprise signing suite, esign, digital stamp, and eBG; digital security solutions, which include emCA-certifiying authority solutions, identity and access management, and certificate lifecycle management; digital trust services, including private trust services, SSL/TL, code signing, email encryption, document signing, and IoT certificates, as well as emsignCertHub; and emSign managed services comprises public key infrastructure and identity management, and security services. It also offers emSinger enterprise and emSinger for banks; bulksign; and remote sign as-a-services. eMudhra share price on the NSE and BSE is a reflection of how market participants respond to a company’s performance and broader business developments within its industry. It captures the sentiment of the investors based on financial results, operational updates, macroeconomic factors, and trends specific to sectors. Movements in the share price͏ reveal how the market evaluates the company’s current position and its future prospects, making ͏it a key indicator of market perception across various industries.

The eMudhra stock price is influenced by various factors such as earnings growth, client acquisitions, regulatory changes in digital compliance, and competitive intensity. In the longer run, strategies related to product innovation, market expansion, and government-led digitalization initiatives affect stock market sentiments. All these factors must be closely monitored to have an idea about the eMudhra stock price movements.

eMudhra live share price provides real-time information about the last price traded, bid price, ask price, and volume traded. These indicators represent trading activity and liquidity and the reaction of investors to corporate announcements, quarterly results, and sector news. Constant ͏monitoring of ABC live price helps observe short-term price fluctuations and understand how the stock is moving in relation to the broader market.

Furthermore, monitoring the eMudhra share͏ price today helps investors understand real-time market sentiment, price volatility, and trading behaviour. It allows market participants to evaluate short-term performance, identify possible entry or exit points, and respond to news, quarterly results or sector trends that may affect the company’s valuation and overall investment outlook.

eMudhra Limited Company Fundamentals

eMudhra Company Background

eMudhra, was established in 2008 with a purpose to enable a secure and integrated digital society built on digital identity and trust. The company envisions accelerating global digital transformation through advanced identity, authentication, and cybersecurity solutions that support safe and seamless online interactions.

eMudhra’s corporate mission focuses on developing innovative digital platforms that empower individuals, enterprises, and governments to operate efficiently in an increasingly digital world. With growing demand for real-time and secure services such as digital onboarding, online payments, contract signing, and remote verification, the company’s solutions address critical needs across industries.

Backed by over a decade of research and development, eMudhra leverages digital identity, trust frameworks, and artificial intelligence to enhance customer experience, strengthen security, and ensure regulatory compliance. The company partners with governments and leading banks worldwide in their paperless transformation journeys, having issued over 60 million digital identities and serving enterprise customers across more than 21 countries.

eMudhra Company Product Lines

Digital Signature & Trust Services

• Digital Signature Certificates (DSCs) issuance & management (individual & organization)
• SSL/TLS certificates & Code/Document signing certificates
• Managed Public Key Infrastructure (PKI) & lifecycle management (CertiNext/emCA)

eSignature & Paperless Workflow Solutions

• emSigner eSignature platform for secure digital signing
• Bulk & automated document signing workflows
• Paperless transformation tools for enterprises

Identity & Access Management

• Converged identity platform (SecurePass)
• Adaptive & multi-factor authentication (MFA)
• Identity Governance & Zero Trust access control

Enterprise Security & Digital Trust

• Certificate lifecycle automation
• Secure encryption & authentication services
• Post-quantum cryptography readiness

Use Cases Across Sectors

• Banking, Healthcare, Government, Telecom, Automotive, Manufacturing, IoT security, Education, Defence, and Financial Services

eMudhra Company Revenue Model

Subscription & SaaS Fees

• Recurring subscription revenue from digital trust platforms and identity solutions (major revenue driver).

Licensing Fees

• Licensing of software products and enterprise solutions.

Transaction-Based Fees

• Fees charged per transaction (e.g., signing or certificate issuance).

Consulting & Implementation Services

• Professional services, custom integrations, and support.

Digital Certificate Sales

• Issuance of digital signature certificates and PKI-based trust credentials

eMudhra Geographic Presence

Headquarters

• eMudhra Digital Campus, Bengaluru, Karnataka, India.

Global Offices & Markets

• United States (Somerset, NJ)
• Singapore (Pte Ltd)
• Dubai, UAE (DMCC)
• Additional presence via subsidiaries and partners in Mauritius, Kenya, Netherlands/Europe, Indonesia and more.

Customer Footprint

• Serves enterprise customers in 25+ countries across Asia, Americas, Middle East, Africa, and Europe.

Sector Reach

• Strong presence with governments, banks (including top 10 banks), Fortune 500 enterprises, and large national and international organisations seeking secure digital transformation.

eMudhra Leadership 

Some of the key leaders of eMudhra Limited as of February 2026 are

• V. Srinivasan – Founder Chairman
• Kaushik Srinivasan – Executive Vice President, Product Development
• Arvind Srinivasan – Executive Vice President, International Sales and Strategy
• Scott Rea – Executive Vice President, Global Strategic Advisor
• Biju Varghese – Executive Vice President, Business (APAC)
• Carmine Auletta – Managing Director, Europe
• Venu Madhava – Whole-Time Director & Executive Vice President, Legal and HR
• Gita Kao – Director, PT. eMudhra Technologies Indonesia
• Michael Tanong – President Director, PT. eMudhra Technologies Indonesia
• Sai Prasad K P – Senior Vice President, Technology
• Janarthanan S – Senior Vice President & Head, Customer Success
• Ritesh Raj Pariyani – Senior Vice President & Chief Financial Officer
• Prasanna Narasimha – Senior Vice President & Region Head, Middle East and Africa
• A M Kiran – Senior Vice President, Customer Operations and Administration
• Johnson Xavier – Vice President & Company Secretary
• Dr. Nandlal L. Sarda – Independent Director
• Chandra L. Iyer – Independent Director
• Chandrasekar Padmanabhan – Independent Director
• Venkatadri Chandrasekaran – Independent Director
• Shivanand R. Shettigar – Independent Director

eMudhra Key Milestones

• 2008: eMudhra Limited incorporated to provide Digital Trust Services and Enterprise Digital Security Solutions
• 2008–2015: Established as a Certifying Authority offering digital signature, SSL/TLS, and device certificates across India and international markets
• 2016–2020: Expanded Enterprise Solutions portfolio with emSigner (eSignature workflows), emAS (authentication & IAM), and emCA (PKI platforms)
• 2022: Became the only Indian company with WebTrust accreditation recognised by Microsoft, Google, Apple, Mozilla, and Adobe
• 2022: Launched emSign SSL/TLS services across India and global markets
• 2022: emSigner emerged as flagship product, selected by major banks in India and Middle East; featured in Gartner Market Guide for eSignatures
• 2022: Inaugurated Digital Signature Campus and began operations at the new facility in Salem
• 2022: Secured large government contracts exceeding ₹100 million and expanded banking & enterprise deployments
• 2022: Achieved multiple global security certifications including CMMI Level 5, ISO standards, SOC2 Type 2, and Common Criteria EAL4+
• 2023–24: Launched Zero Trust digital ecosystem including SecurePass, emCA, emSigner, emSign Hub, and CertiNext
• 2023–24: Acquired Ikon Tech Services LLC to strengthen North American presence
• 2023–24: Introduced National ID-based signing in Kenya and launched emSign CertHub
• 2025: Strengthened emCA for enterprise, managed PKI, PQC-ready certificates, and HSM integrations
• 2025: Expanded emSigner deployments across banking, pharma, and global enterprises
• 2025: Launched advanced security products in Post-Quantum Cryptography (PQC), Fully Homomorphic Encryption (FHE), and Mobile PKI

Industry Perspective

eMudhra operates in the Digital Identity, Digital Trust & Cybersecurity industry, a rapidly expanding segment driven by global digital transformation, secure online transactions, and identity-centric security needs. This industry includes digital signature services, public key infrastructure (PKI), identity and access management (IAM), authentication solutions, and paperless workflow platforms — all core to eMudhra’s offerings. Globally, the digital trust services market was estimated at USD 253 billion in 2024 and is projected to reach approximately USD 1,023.5 billion by 2034, growing at an estimated ~15% CAGR due to increasing enterprise and government digitalisation initiatives across sectors like BFSI, healthcare, and public services. Within this space, the digital signature market — a foundational component of digital trust — is witnessing exceptional growth: from around USD 7 billion in 2025 to an expected USD 121 billion by 2033, reflecting a ~43.9% CAGR driven by e-sign adoption, security compliance mandates, and remote work paradigms. Comparable forecasts also show significant expansion trajectories exceeding 30–40% CAGR through the late 2020s as organisations increasingly replace manual signatures and legacy authentication with secure digital alternatives. This growth outlook is supported by broader trends in PKI & digital certificate markets, which are also projected to grow at ~20% CAGR through 2031 as enterprises adopt encrypted identity frameworks for device (IoT), user and enterprise authentication

eMudhra Limited Stock Market Presence: Listings & Index Representation

eMudhra listed on the BSE (Bombay Stock Exchange) and on the NSE (National Stock Exchange) on 1 June 2022, after its initial public offering.

eMudhra Limited is an established entity in the Indian stock market, listed on major exchanges such as NSE (EMUDHRA) and BSE (543700). Its inclusion in prominent indices like S&P BSE Information Technology, Nifty Microcap 250 Index, S&P BSE SmallCap, S&P BSE MidSmallCap, S&P BSE AllCap, Nifty Total Market, and BSE 1000 underscores the company’s significance in India’s digital trust services and technology sector.

The eMudhra stock price is tracked by investors. Its inclusion in these indices reflects its market capitalisation and operational scale in digital signatures and certificate authority services. Listing on NSE and BSE ensures liquidity, while the index presence can influence institutional holdings and benchmark tracking within the IT services and digital security space.

eMudhra Stock Performance and Share Price History

The eMudhra share price on NSE and BSE reflects its position in the digital trust services market. Performance is driven by revenue growth, profitability, client concentration, and adoption cycles for digital signature solutions. Investors compare the eMudhra share price today with sectoral indices and peer companies to gauge relative performance. These underlying factors are often visible through real market movements across different periods. Similar trends are observed during earnings-driven movements. Broader sector strength has also played a role in supporting the eMudhra share price.

In addition to operational and sector-led factors, corporate actions can also have a significant impact on eMudhra share price movements short-term even when the company’s fundamentals remain strong. This shows how corporate actions can trigger short-term swings. While short-term movements reflect events and announcements, longer-term valuation trends are visible through the eMudhra share price 52-week high and low, providing context beyond daily or weekly changes. Highs indicate strong market sentiment and execution, while lows align with market corrections or sector volatility. These levels capture impacts of growth expectations, competitive landscape, and earnings visibility, providing context for the stock’s historical performance.

eMudhra’s stock performance reflects the trading behaviour of a company operating within India’s growing digital infrastructure sector. The company’s focus on digital signature certificates and identity solutions has shaped its eMudhra share price history. The stock listed in mid-2018. The early years post-listing witnessed consolidation. The eMudhra stock price experienced significant growth from 2023, driven by accelerated digital adoption. In 2024, the eMudhra share price increased by 105.33%, supported by strong financial performance and market expansion. However, the eMudhra share price declined by 39.27% in 2025, reflecting market corrections, valuation adjustments, and increased competitive pressures.

eMudhra’s stock performance over time has followed technology adoption and market sentiment cycles. For instance, the eMudhra share price reached an end-of-day high of ₹988.79 in December 2024, supported by investor confidence in digital transformation trends. Over longer investment horizons, the stock has delivered returns, including gains of 100% over five years and 92.16% over three years. These returns highlight growth aligned with digitalization trends across the Indian economy. In the shorter term, for the one-year period ending February 2026, the eMudhra share price declined 23.82%, underperforming the Nifty 50 (up 9.70%) and its sector (up 15.68%), indicating a period of consolidation and sector rotation.

Despite broader market volatility, eMudhra shares have shown specific patterns. Quarterly returns data reveals seasonality, with the second quarter (Q2) historically being strong, averaging 25.20% returns over five years, while the fourth quarter (Q4) has averaged a decline of 4.05%. In 2024, a 65.52% gain in Q1 set a positive tone for the year. The decline in the eMudhra stock price in 2025 was spread across all quarters, with Q4 seeing a 16.22% decrease. The current eMudhra share price, as of February 2026, trades approximately 33.94% below its six-month high of ₹775 and about 3.64% above its six-month low of ₹494.

eMudhra LImited Investor Relevance and Portfolio Role

eMudhra can be a component in sector-specific and small-cap portfolios, offering exposure to digital identity, public key infrastructure, and compliance services. Inclusion in indices like S&P BSE Information Technology and Nifty Microcap 250 underscores its relevance in the technology segment. Its role in enabling digital transactions and document authentication makes it a strategic holding for investors looking at India’s digital public infrastructure theme.

eMudhra equity is held by a mix of institutional investors. Top institutional stakeholders include Taarav Pte Limited, Nippon Life India Asset Management Limited, Emudhra Employees Stock Option Trust, Cif III SCHEME I, Baring Private Equity Partners (India) Ltd., Motilal Oswal Asset Management Company Limited, SBI Funds Management Limited, BlackRock, Inc., State Street Global Advisors, Inc., and Teachers Insurance and Annuity Association-College Retirement Equities Fund.

Prominent mutual fund holders include Nippon India Small Cap Fund, Motilal Oswal Growth Anchors Fund, SBI Technology Opportunities Fund, Nippon India Innovation Fund, Motilal Oswal Nifty Microcap 250 Index Fund, iShares Core MSCI EM IMI UCITS ETF, iShares MSCI India Small-Cap ETF, State Street SPDR Portfolio Emerging Markets ETF, State Street SPDR S&P Emerging Markets Small Cap ETF, and CREF Total Global Stock Account. This investor base underscores the stock’s role in specialized portfolios.

Beyond fundamentals and ownership, eMudhra’s stock is monitored in derivatives markets, where open interest and F&O quotes reflect expectations on order bookings, revenue growth, and profitability trends. Technical indicators such as RSI, MACD, and MFI provide additional insight into short-term momentum shifts in the eMudhra stock price. While primarily used for near-term trading, these tools can also help gauge market sentiment and potential volatility around major events.

eMudhra’s beta indicates its volatility relative to the market. The beta has shown variation across different time frames, reflecting the stock’s sensitivity to market movements. The daily beta over a one-month range was 1.83, indicating higher volatility in the very short term. Over a three-month daily range, the beta was 1.49. For longer-term perspectives, the weekly beta over one year was 0.508, and over two years was 0.403. The monthly beta over a two-year range was -0.351. These figures suggest that while the eMudhra share price can exhibit significant short-term swings, its correlation with broader market movements over longer periods has been moderate to low, and even negative on a monthly two-year basis, indicating potential decoupling from benchmark trends during certain phases.

eMudhra Sectoral Relevance and Peer Positioning

eMudhra’s sector relevance stems from its scale in digital signature certificates, document signing services, and identity management, establishing it as a key player supporting India’s digital trust and cybersecurity ecosystem. Peer comparisons with companies like Info Edge (India), Verasoft, Metaherotech, Macfos, and Beagle Automations focus on market share in digital trust services, revenue growth, profitability margins, and client diversification rather than short-term stock moves. These benchmarks help investors assess operational scale, efficiency, and regulatory positioning. Institutional tracking of government digital initiatives, enterprise adoption, and technological innovation further highlights eMudhra’s strategic importance within India’s broader digital infrastructure markets.

eMudhra’s sectoral importance is also reflected in financial and market metrics that demonstrate its scale, stability, and impact. The eMudhra P/E ratio demonstrates how the market values the company’s earnings relative to its growth prospects in the digital trust sector. Historically, the P/E ratio has seen significant fluctuations. It was 25.8 at the end of 2023. The ratio increased sharply to 75.5 by the end of 2024 and further to 79.4 by the end of 2025, reflecting high growth expectations despite recent stock price corrections. As of February 2026, the trailing P/E ratio stands at 45.6, indicating a valuation adjustment aligned with recent earnings and market reassessment.

Alongside valuation, eMudhra EPS highlights operational performance and income generation from digital certificate services and solutions. Between 2019 and 2025, EPS increased steadily, indicating consistent net earnings growth. EPS grew from ₹2.91 in 2019 to ₹4.46 in 2021, and then to ₹6.32 in 2022. A significant jump occurred in 2023 with EPS at ₹9.19, followed by ₹10.57 in 2024. For 2025, the reported EPS is ₹11.02, with a trailing twelve-month (TTM) figure of ₹10.53. These trends correspond to business expansion and provide insight into the company’s performance.

eMudhra market cap underscores its prominence within its segment. eMudhra’s small to mid-cap status makes it a notable publicly traded company in India’s technology sector. Its market capitalization was ₹24.70 billion at the end of 2022. It grew to ₹35.28 billion in 2023 and saw a substantial increase to ₹77.60 billion in 2024. The market cap then declined to ₹49.09 billion in 2025 and stood at ₹42.06 billion as of February 2026. This sizeable, though fluctuating, valuation attracts investor interest.

Finally, eMudhra’s earnings trajectory demonstrates growth. Earnings have risen from ₹0.70 billion in 2022 to ₹0.86 billion in 2023, and further to ₹1.08 billion in 2024. For the trailing twelve months (TTM) in 2025, earnings are reported at ₹1.15 billion. These trends reflect the company’s expansion phase and execution relative to other players in the digital trust and certificate services segment in India.

Summary

eMudhra Limited is a significant provider of digital signature and certificate services in India. The eMudhra share price is influenced by sector trends, financial results, and digital adoption cycles. The stock is listed on NSE and BSE and is part of several indices. Its performance history shows periods of strong growth and consolidation. A range of institutional and mutual funds hold the stock, and its beta indicates varying volatility. Key financial metrics like P/E, EPS, and market cap provide insight into its valuation and operational scale within the digital trust sector.