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EMS share price & results

EMS· Utilities

Results to
Jun 2026
Latest analysed call
Q1 FY27
Ownership as of
Sept 2026

Multi-disciplinary EPC firm building water, wastewater, power T&D and public infra projects in India.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue157 ₹ crore−34.3% YoYQuarterly, as filedQuarter to Jun 2026Revenue from operations as filed.
Operating margin17.0 %−6.0 pts YoYOperating profit / revenueQuarter to Jun 2026For the quarter; a change is in percentage points.
Net profit15.0 ₹ crore−60.5% YoYQuarterly, as filedQuarter to Jun 2026Profit after tax as filed.
Return on equity6.69 %−11.9 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-12.04 %−15.1 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)-34.14 %−47.4 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Jun 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

1 of 10 judged targets kept · 12 open · verdicts reflect calls analysed to Q1 FY27.

EMS management guidance track record on Inve: 22 targets tracked across analysed earnings calls (1 achieved, 9 missed, 12 open).

TargetOriginal wordingSaidLatest callVerdict
Order Book Execution Timeline2 to 2.5 years
Call transcript, Q1 FY25 · 16 Aug 2024		Q1 FY25Q1 FY27:Management reiterated the execution cycle: 'Project timeline is two to three years... typical timeline is from 18 to 24 months'. This is consistent with or better than the original promise.
Call transcript, Q1 FY27 · 13 Aug 2026		Achieved
EBITDA Margin24% to 26%
Call transcript, Q1 FY25 · 16 Aug 2024		Q1 FY25Q1 FY27:Target period has passed. The promise was missed.
Call transcript, Q1 FY27 · 13 Aug 2026		Missed
EBITDA Margin (FY27)about 25%
Call transcript, Q4 FY26 · 30 May 2026		Q4 FY26Q1 FY27:Q1 FY27 reported EBITDA margin was ~17.9% (₹28.14cr / ₹157.24cr), significantly below the full-year target. Management now guides for FY27 EBITDA to be 'at par with 2024-2025 numbers', which is a less specific target.
Call transcript, Q1 FY27 · 13 Aug 2026		At Risk

Source: Inve Guidance Tracker for EMS · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

9 of EMS's 22 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 19 more targets are in the full ledger.

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Price

₹291.75 +3.24% · +₹9.15

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −45.3% 1Y

₹300₹400₹500Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 18 Nov 2025Q3 FY26 — 13 Feb 2026Q4 FY26 — 29 May 2026Q1 FY27 — 13 Aug 2026

1Y: ₹533.4 on 24 Oct 2025 → ₹291.75. High ₹534.25 (29 Oct 2025), low ₹257.75 (9 Mar 2026).

Previous close
₹282.6
Market cap
₹1.6k Cr
52-week range
₹257.75 – ₹534.25
One year
−45.00%
Price to earnings (TTM to Jun 2026)
23.07×
Return on equity (TTM to Jun 2026)
6.69%

Overview

Symbol
NSE:EMSLIMITED
Sector
Utilities
Exchange
NSE
Currency
INR

What EMS does

Based on the company's own presentations, annual report and earnings calls.

EMS Limited is a multi-disciplinary EPC (engineering, procurement and construction) company that designs, builds and operates water and wastewater infrastructure such as water treatment plants, pumping stations, sewage treatment plants and sewer networks for state and municipal government bodies, with several projects funded by the World Bank. It also executes electrical transmission and distribution works and building/public infrastructure projects such as roads and housing. The company runs an asset-light, turnkey model with in-house design, civil-construction and O&M teams, leases most execution equipment, and undertakes bundled EPC-plus-O&M contracts including hybrid annuity model (HAM) projects.

Segments

  • Water & Wastewater
  • Electrical Transmission & Distribution
  • Building & Public Infrastructure
Employees
530+
Design & engineering team
120+ engineers
Projects delivered since inception
70+
States with project presence
6
Sewerage pipeline laid
1,400+ km executed
Cumulative sewage treated
500+ billion litres
Founded 2010Headquarters New Delhi, India Company website

How the price took the results

close before → close after

Q1 FY27
−3.4%
13 Aug
Q4 FY26
−10.5%
30 May
Q3 FY26
−9.0%
14 Feb
Q2 FY26
−1.4%
18 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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