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 ₹ 2,332 Cr.
- Current Price ₹ 420
- High / Low ₹ 655 / 256
- Stock P/E 25.8
- Book Value ₹ 190
- Dividend Yield 0.36 %
- 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.
- 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.
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 | |
|---|---|---|---|---|---|---|---|
| 326 | 331 | 360 | 538 | 793 | 966 | 733 | |
| 230 | 232 | 247 | 388 | 589 | 712 | 592 | |
| Operating Profit | 96 | 99 | 113 | 150 | 204 | 254 | 140 |
| OPM % | 30% | 30% | 31% | 28% | 26% | 26% | 19% |
| 7 | 5 | 3 | 5 | 16 | 16 | 12 | |
| Interest | 3 | 4 | 6 | 4 | 6 | 11 | 13 |
| Depreciation | 2 | 2 | 3 | 3 | 7 | 10 | 10 |
| Profit before tax | 98 | 98 | 107 | 148 | 207 | 249 | 129 |
| Tax % | 26% | 27% | 27% | 26% | 26% | 26% | 29% |
| 72 | 72 | 79 | 109 | 153 | 184 | 91 | |
| EPS in Rs | 61.64 | 61.17 | 66.51 | 22.91 | 27.44 | 33.05 | 16.30 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 7% | 5% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 11% |
| TTM: | -24% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | -6% |
| TTM: | -51% |
| 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 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Fixed Asset Turnover Ratio x ・Includes some standalone data |
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| Active EPC Projects Count |
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| Number of Engineers Count |
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| Unexecuted Order Book INR Lakhs |
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| Bundled Projects with O&M Scope Count |
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| Maximum STP Capacity Executed MLD |
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| Total Cumulative Projects Executed Count |
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Extracted by Screener AI
Documents
Announcements
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Clarification On Movement In Price
2d - Company states no undisclosed material information; price movement is market-driven.
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Clarification sought from EMS Ltd
23 Jun - Exchange has sought clarification from EMS Ltd on June 23, 2026 with reference to significant movement in price, in order to ensure that investors have …
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Clarification On Increase In Volume BSE Letter Dated June 18, 2026
18 Jun - EMS Limited clarifies no undisclosed material information behind share volume spurt.
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Clarification sought from EMS Ltd
18 Jun - Exchange has sought clarification from EMS Ltd on June 18, 2026, with reference to Movement in Volume.
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Updates
17 Jun - EMS Ltd clarifies share volume spike is market-driven; no undisclosed material information.
Annual reports
Concalls
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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]