EMS Ltd

EMS Ltd

₹ 291 -1.32%
05 Jun - 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 1,615 Cr.
  • Current Price 291
  • High / Low 655 / 256
  • Stock P/E 17.8
  • Book Value 190
  • Dividend Yield 0.52 %
  • ROCE 12.5 %
  • ROE 8.91 %
  • Face Value 10.0

Pros

Cons

  • Dividend payout has been low at 3.94% 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
190.24 137.97 210.52 199.56 245.26 206.28 233.47 245.29 269.84 238.89 173.49 200.36 120.50
142.53 105.63 153.50 152.72 177.64 156.00 164.94 174.20 205.00 184.78 136.32 169.61 102.19
Operating Profit 47.71 32.34 57.02 46.84 67.62 50.28 68.53 71.09 64.84 54.11 37.17 30.75 18.31
OPM % 25.08% 23.44% 27.09% 23.47% 27.57% 24.37% 29.35% 28.98% 24.03% 22.65% 21.42% 15.35% 15.20%
2.02 1.10 7.64 6.25 0.67 2.25 2.03 2.63 2.23 2.33 4.38 2.52 3.07
Interest 1.20 1.67 1.65 1.20 1.77 0.96 0.78 1.36 1.86 3.05 2.65 3.48 4.06
Depreciation 1.01 1.23 1.28 1.35 2.67 2.16 2.38 2.56 2.52 2.55 2.48 2.63 2.55
Profit before tax 47.52 30.54 61.73 50.54 63.85 49.41 67.40 69.80 62.69 50.84 36.42 27.16 14.77
Tax % 24.64% 25.38% 26.50% 25.94% 25.78% 24.79% 26.34% 27.49% 25.16% 25.14% 22.76% 29.01% 61.27%
35.82 22.78 45.36 37.43 47.38 37.17 49.65 50.60 46.92 38.06 28.14 19.29 5.71
EPS in Rs 7.54 4.82 8.15 6.72 8.53 6.68 8.94 9.09 8.39 6.82 5.09 3.39 1.01
Raw PDF

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% 0%
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: -52%
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
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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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