EMS Ltd

EMS Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

EMS Ltd

₹ 432 -2.07%
16 Jul 2:07 p.m.
ems.co.in BSE: 543983 NSE: EMSLIMITED
About

EMS Limited is a multi-disciplinary EPC company, headquartered in Delhi that specializes in providing turnkey services in water and wastewater collection, treatment and disposal. EMS provides complete, single-source services from engineering and design to construction and installation of water, wastewater and domestic waste treatment facilities.[1]

Key Points

Business Divisions FY25
1) Water & Sewerage Projects (70%): [1] The company provides Sewage solutions, Water Supply Systems, Water and Waste Treatment Plants, and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. WWSPs include Sewage Treatment Plants (STPs) along with Sewage Network Schemes and Common Effluent Treatment Plants (CETPs) and WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for the supply of water. [2] with an 80 MLD capacity i.e. the maximum capacity of Minimal Liquid Discharge for STPs. [3]

Website BSE NSE
  • Market Cap ₹ 2,398 Cr.
  • Current Price ₹ 432
  • High / Low ₹ 655 / 256
  • Stock P/E 27.1
  • Book Value ₹ 187
  • Dividend Yield 0.34 %
  • ROCE 12.7 %
  • ROE 8.85 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.

Cons

  • Dividend payout has been low at 7.13% of profits over last 3 years
  • Company has high debtors of 223 days.
  • Promoter holding has decreased over last 3 years: -30.3%
  • Working capital days have increased from 268 days to 400 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Utilities Utilities Other Utilities Waste Management

Part of BSE Utilities BSE 1000

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
170.05 112.79 195.74 176.89 233.94 203.72 231.07 242.15 265.51 211.28 144.41 168.75 83.66
125.82 82.77 140.90 132.14 168.99 154.15 163.00 171.92 203.69 159.96 109.44 141.60 68.19
Operating Profit 44.23 30.02 54.84 44.75 64.95 49.57 68.07 70.23 61.82 51.32 34.97 27.15 15.47
OPM % 26.01% 26.62% 28.02% 25.30% 27.76% 24.33% 29.46% 29.00% 23.28% 24.29% 24.22% 16.09% 18.49%
1.83 1.07 7.60 6.22 0.47 2.22 1.98 2.58 2.09 2.20 4.33 2.39 2.79
Interest 0.76 0.73 0.59 0.15 0.70 0.96 0.78 1.36 0.62 1.54 1.12 2.09 2.67
Depreciation 0.38 0.94 0.99 1.05 2.31 1.83 2.05 2.21 2.21 1.88 1.87 1.96 1.94
Profit before tax 44.92 29.42 60.86 49.77 62.41 49.00 67.22 69.24 61.08 50.10 36.31 25.49 13.65
Tax % 24.15% 25.56% 26.40% 26.02% 25.77% 24.82% 26.32% 27.53% 25.15% 25.39% 22.80% 30.29% 61.25%
34.07 21.90 44.79 36.81 46.34 36.84 49.53 50.19 45.72 37.38 28.03 17.78 5.28
EPS in Rs 7.25 4.66 8.07 6.63 8.34 6.63 8.92 9.04 8.23 6.73 5.05 3.20 0.95
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
316 307 338 484 719 941 608
221 212 232 344 525 693 479
Operating Profit 95 95 106 140 195 247 129
OPM % 30% 31% 31% 29% 27% 26% 21%
7 5 4 5 15 11 12
Interest 3 4 6 3 2 4 7
Depreciation 1 1 2 2 5 8 8
Profit before tax 98 95 102 140 203 247 126
Tax % 26% 27% 27% 26% 26% 26% 30%
72 70 75 103 150 182 88
EPS in Rs 61.16 59.42 63.97 21.96 27.00 32.82 15.93
Dividend Payout % 0% 0% 0% 0% 7% 5% 9%
Compounded Sales Growth
10 Years: %
5 Years: 15%
3 Years: 8%
TTM: -35%
Compounded Profit Growth
10 Years: %
5 Years: 5%
3 Years: -5%
TTM: -51%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -28%
Return on Equity
10 Years: %
5 Years: 18%
3 Years: 17%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 12 12 12 47 56 56 56
Reserves 220 289 365 433 729 906 983
17 1 2 0 1 13 77
75 59 108 73 68 86 103
Total Liabilities 324 361 486 553 854 1,061 1,219
29 33 34 39 78 81 79
CWIP 0 0 0 4 0 0 0
Investments 3 3 10 10 19 26 26
292 324 442 500 757 953 1,114
Total Assets 324 361 486 553 854 1,061 1,219

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
17 23 -73 30 -84
-6 -19 -82 23 8
-5 -4 156 2 -1
Net Cash Flow 7 -0 1 56 -77
Free Cash Flow 16 15 -95 24 -86
CFO/OP 17% 45% -16% 37% -38%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 41 95 137 107 121 146 223
Inventory Days 74 64 173
Days Payable 64 59 22
Cash Conversion Cycle 51 100 137 107 121 146 374
Working Capital Days 132 189 199 168 210 194 400
ROCE % 36% 32% 33% 31% 28% 13%

Insights

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Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Unexecuted Order Book
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Number of Active EPC Projects
Count
Number of Engineers
Count
Number of States of Project Presence
Count
Total Employees
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

34 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
69.70% 69.70% 69.70% 69.70% 69.70% 69.70% 69.70% 69.70% 69.70% 69.70% 69.70% 69.70%
7.23% 4.09% 2.78% 0.88% 0.75% 0.66% 0.19% 0.17% 0.15% 0.21% 0.41% 0.14%
1.78% 1.45% 1.43% 1.58% 1.08% 0.40% 0.61% 0.40% 0.35% 0.04% 0.04% 0.05%
21.28% 24.75% 26.08% 27.84% 28.46% 29.24% 29.51% 29.72% 29.79% 30.05% 29.84% 30.10%
No. of Shareholders 46,76538,76743,84158,97194,8551,14,5611,28,0711,29,9771,28,7061,24,1171,19,0861,20,731

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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