EMS Ltd

EMS Ltd

₹ 354 -3.17%
24 Apr - close price
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]

  • Market Cap 1,967 Cr.
  • Current Price 354
  • High / Low 683 / 256
  • Stock P/E 15.3
  • Book Value 185
  • Dividend Yield 0.42 %
  • ROCE 28.4 %
  • ROE 20.9 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 20.6% CAGR over last 5 years

Cons

  • Promoter holding has decreased over last 3 years: -30.3%

* 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
136 170 113 196 177 234 204 231 242 266 211 144 169
95 126 83 141 132 169 154 163 172 204 160 109 142
Operating Profit 41 44 30 55 45 65 50 68 70 62 51 35 27
OPM % 30% 26% 27% 28% 25% 28% 24% 29% 29% 23% 24% 24% 16%
1 2 1 8 6 0 2 2 3 2 2 4 2
Interest 1 1 1 1 0 1 1 1 1 1 2 1 2
Depreciation 1 0 1 1 1 2 2 2 2 2 2 2 2
Profit before tax 41 45 29 61 50 62 49 67 69 61 50 36 25
Tax % 28% 24% 26% 26% 26% 26% 25% 26% 28% 25% 25% 23% 30%
30 34 22 45 37 46 37 50 50 46 37 28 18
EPS in Rs 25.26 7.25 4.66 8.07 6.63 8.34 6.63 8.92 9.04 8.23 6.73 5.05 3.20
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
316 307 338 484 719 941 790
221 212 232 344 525 693 615
Operating Profit 95 95 106 140 195 247 175
OPM % 30% 31% 31% 29% 27% 26% 22%
7 5 4 5 15 11 11
Interest 3 4 6 3 2 4 5
Depreciation 1 1 2 2 5 8 8
Profit before tax 98 95 102 140 203 247 173
Tax % 26% 27% 27% 26% 26% 26%
72 70 75 103 150 182 129
EPS in Rs 61.16 59.42 63.97 21.96 27.00 32.82 23.21
Dividend Payout % 0% 0% 0% 0% 7% 5%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 41%
TTM: -13%
Compounded Profit Growth
10 Years: %
5 Years: 21%
3 Years: 34%
TTM: -30%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -46%
Return on Equity
10 Years: %
5 Years: 23%
3 Years: 22%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 12 12 12 47 56 56 56
Reserves 220 289 365 433 729 906 970
17 1 2 0 1 13 36
75 59 108 73 68 86 95
Total Liabilities 324 361 486 553 854 1,061 1,156
29 33 34 39 78 81 80
CWIP 0 0 0 4 0 0 0
Investments 3 3 10 10 19 26 26
292 324 442 500 757 953 1,050
Total Assets 324 361 486 553 854 1,061 1,156

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

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

Ratios

Standalone Figures in Rs. Crores / View Consolidated

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

Insights

In beta
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Fixed Asset Turnover Ratio
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Active EPC Projects
Count
Number of Engineers
Count
Unexecuted Order Book
INR Lakhs
Bundled Projects with O&M Scope
Count
Maximum STP Capacity Executed
MLD
Total Cumulative Projects Executed
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

4 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
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%
1.78% 1.45% 1.43% 1.58% 1.08% 0.40% 0.61% 0.40% 0.35% 0.04% 0.04%
21.28% 24.75% 26.08% 27.84% 28.46% 29.24% 29.51% 29.72% 29.79% 30.05% 29.84%
No. of Shareholders 46,76538,76743,84158,97194,8551,14,5611,28,0711,29,9771,28,7061,24,1171,19,086

* 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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