EMS Ltd

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

EMS Ltd

₹ 291 1.10%
06 Apr - close price
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 ₹ 1,612 Cr.
  • Current Price ₹ 291
  • High / Low ₹ 695 / 256
  • Stock P/E 12.2
  • Book Value ₹ 187
  • Dividend Yield 0.52 %
  • ROCE 26.9 %
  • ROE 20.7 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 20.4% CAGR over last 5 years

Cons

  • Promoters have pledged 26.4% of their holding.
  • Debtor days have increased from 113 to 142 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
151 190 138 211 200 245 206 233 245 270 239 173 200
109 143 106 154 153 178 156 165 174 205 185 136 170
Operating Profit 43 48 32 57 47 68 50 69 71 65 54 37 31
OPM % 28% 25% 23% 27% 23% 28% 24% 29% 29% 24% 23% 21% 15%
1 2 1 8 6 1 2 2 3 2 2 4 3
Interest 1 1 2 2 1 2 1 1 1 2 3 3 3
Depreciation 1 1 1 1 1 3 2 2 3 3 3 2 3
Profit before tax 42 48 31 62 51 64 49 67 70 63 51 36 27
Tax % 28% 25% 25% 26% 26% 26% 25% 26% 27% 25% 25% 23% 29%
30 36 23 45 37 47 37 50 51 47 38 28 19
EPS in Rs 8.15 6.72 8.53 6.68 8.94 9.09 8.39 6.82 5.09 3.39
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
326 331 360 538 793 966 883
230 232 247 388 589 712 696
Operating Profit 96 99 113 150 204 254 187
OPM % 30% 30% 31% 28% 26% 26% 21%
7 5 3 5 16 16 11
Interest 3 4 6 4 6 11 11
Depreciation 2 2 3 3 7 10 10
Profit before tax 98 98 107 148 207 249 177
Tax % 26% 27% 27% 26% 26% 26%
72 72 79 109 153 184 132
EPS in Rs 27.44 33.05 23.69
Dividend Payout % 0% 0% 0% 0% 7% 5%
Compounded Sales Growth
10 Years: %
5 Years: 24%
3 Years: 39%
TTM: -5%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 33%
TTM: -29%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: -54%
Return on Equity
10 Years: %
5 Years: 23%
3 Years: 22%
Last Year: 21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 12 12 12 47 56 56 56
Reserves 218 290 368 444 743 920 986
16 4 4 45 71 86 165
62 73 119 103 101 104 111
Total Liabilities 308 378 503 639 970 1,165 1,317
31 36 51 54 94 96 126
CWIP 0 3 0 4 0 0 37
Investments 0 0 1 2 10 18 10
276 340 451 579 866 1,052 1,143
Total Assets 308 378 503 639 970 1,165 1,317

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
47 36 23 4 -116 34
-27 -8 -15 -21 -83 19
-6 -11 3 38 176 1
Net Cash Flow 15 16 11 21 -23 54
Free Cash Flow 21 27 9 -4 -140 27
CFO/OP 50% 36% 20% 31% -36% 38%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 44 103 160 84 112 142
Inventory Days
Days Payable
Cash Conversion Cycle 44 103 160 84 112 142
Working Capital Days 125 183 219 137 180 187
ROCE % 37% 33% 33% 29% 27%

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

Shareholding Pattern

Numbers in percentages

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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Documents

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