EMS Ltd
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]
- Market Cap ₹ 2,127 Cr.
- Current Price ₹ 383
- High / Low ₹ 595 / 256
- Stock P/E 31.2
- Book Value ₹ 190
- Dividend Yield 0.39 %
- ROCE 12.5 %
- ROE 8.91 %
- Face Value ₹ 10.0
Pros
Cons
- Dividend payout has been low at 7.01% of profits over last 3 years
- Company has high debtors of 193 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 326 | 331 | 360 | 538 | 793 | 966 | 733 | 652 | |
| 230 | 232 | 247 | 388 | 589 | 712 | 592 | 539 | |
| Operating Profit | 96 | 99 | 113 | 150 | 204 | 254 | 140 | 112 |
| OPM % | 30% | 30% | 31% | 28% | 26% | 26% | 19% | 17% |
| 7 | 5 | 3 | 5 | 16 | 16 | 12 | 12 | |
| Interest | 3 | 4 | 6 | 4 | 6 | 11 | 13 | 15 |
| Depreciation | 2 | 2 | 3 | 3 | 7 | 10 | 10 | 10 |
| Profit before tax | 98 | 98 | 107 | 148 | 207 | 249 | 129 | 99 |
| Tax % | 26% | 27% | 27% | 26% | 26% | 26% | 29% | |
| 72 | 72 | 79 | 109 | 153 | 184 | 91 | 69 | |
| EPS in Rs | 61.64 | 61.17 | 66.51 | 22.91 | 27.44 | 33.05 | 16.30 | 12.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 7% | 5% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 11% |
| TTM: | -34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | -6% |
| TTM: | -63% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -33% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 17% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 47 | 56 | 56 | 56 |
| Reserves | 218 | 290 | 368 | 444 | 743 | 920 | 1,000 |
| 16 | 4 | 4 | 45 | 71 | 86 | 154 | |
| 62 | 73 | 119 | 103 | 101 | 104 | 121 | |
| Total Liabilities | 308 | 378 | 503 | 639 | 970 | 1,165 | 1,331 |
| 31 | 36 | 51 | 54 | 94 | 96 | 123 | |
| CWIP | 0 | 3 | 0 | 4 | 0 | 0 | 37 |
| Investments | 0 | 0 | 1 | 2 | 10 | 18 | 10 |
| 276 | 340 | 451 | 579 | 866 | 1,052 | 1,160 | |
| Total Assets | 308 | 378 | 503 | 639 | 970 | 1,165 | 1,331 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 47 | 36 | 23 | 4 | -116 | 34 | -15 | |
| -27 | -8 | -15 | -21 | -83 | 19 | -60 | |
| -6 | -11 | 3 | 38 | 176 | 1 | -2 | |
| Net Cash Flow | 15 | 16 | 11 | 21 | -23 | 54 | -77 |
| Free Cash Flow | 21 | 27 | 9 | -4 | -140 | 27 | -88 |
| CFO/OP | 50% | 36% | 20% | 31% | -36% | 38% | 14% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 103 | 160 | 84 | 112 | 142 | 193 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 44 | 103 | 160 | 84 | 112 | 142 | 193 |
| Working Capital Days | 125 | 183 | 219 | 137 | 180 | 187 | 297 |
| ROCE % | 37% | 33% | 33% | 29% | 27% | 13% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Unexecuted Order Book Rs Crore |
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| Number of Active EPC Projects Count |
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| Number of Engineers Count |
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| Number of States of Project Presence Count |
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| Total Employees Count |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- EMS Limited emerges L-1 bidder for Rs 218.65 crore Rajasthan sewerage project.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper Publication of 16th Annual General Meeting of EMS Limited, Details of E-voting and Record Date
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Announcement Under Regulation 30 (LODR)- Receipt Of Lowest Bidder (L-1) Status Awarded By Government Of Rajasthan
- EMS Limited becomes L-1 bidder for Rajasthan sewerage work worth Rs 21,864.75 lakh, to be executed in 18 months.
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Announcement Under Regulation 30 (LODR)
- EMS Limited scheduled 16th AGM on 26 September 2026 and shared FY2025-26 annual report web link.
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Business Responsibility and Sustainability Reporting (BRSR)
- EMS submitted FY2025-26 BRSR on Sept. 1, 2026; disclosed ₹98,300 stamp-duty penalty.
Annual reports
Concalls
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Aug 2026TranscriptPPTREC
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Jun 2026TranscriptPPTREC
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Feb 2026TranscriptPPT
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Nov 2025TranscriptPPTREC
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Sep 2025TranscriptPPTREC
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Jun 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Aug 2024TranscriptPPTREC
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Feb 2024TranscriptPPT
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]