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EMS Ltd.
(EMSLIMITED)
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Rating:64Neutral
Price Target:
₹410.00
▲(1.47% Upside)
Action:Reiterated
Date:07/11/26
The score is primarily held back by inconsistent cash generation (multiple years of negative operating/free cash flow) and FY2026’s revenue and margin deterioration, despite a low-debt balance sheet. Technicals are supportive with strong trend/momentum, but overbought signals add near-term risk. Valuation is moderately unfavorable given the ~28 P/E and very low dividend yield.
Positive Factors
Conservative balance sheet
Low leverage and a growing equity base give EMS Ltd. financial resilience and flexibility. This supports the ability to fund operations, withstand project volatility, and pursue opportunities without relying heavily on additional borrowing or exposing the business to excessive balance-sheet stress.
Negative Factors
Unreliable cash generation
Repeated negative operating and free cash flow weakens the quality of reported earnings and reduces internally generated funding. The volatility points to working-capital and project-timing pressures, which can constrain investment, increase financing needs, and make results less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Low leverage and a growing equity base give EMS Ltd. financial resilience and flexibility. This supports the ability to fund operations, withstand project volatility, and pursue opportunities without relying heavily on additional borrowing or exposing the business to excessive balance-sheet stress.
Read all positive factors
EMS Ltd. (EMSLIMITED) vs. iShares MSCI India ETF (INDA)
Market Cap
₹21.73B
Dividend Yield0.39%
Average Volume (3M)47.84K
Price to Earnings (P/E)31.2
Beta (1Y)1.26
Revenue Growth-33.85%
EPS Growth-63.10%
CountryIN
Employees624
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)12.27
Shares Outstanding55,530,807
10 Day Avg. Volume80,188
30 Day Avg. Volume47,840
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)1.37
Price to Sales (P/S)1.97
P/FCF Ratio-10.67
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
EMS Ltd. Business Overview & Revenue Model
Company Description
EMS Limited focuses on the engineering, construction, and implementation of systems for water, wastewater, and liquid domestic waste purification. The company is also a leading provider of comprehensive, integrated solutions, encompassing the full...
EMS Ltd. Financial Statement Overview
Summary
Income Statement
73
Positive
Balance Sheet
82
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.51B | 7.33B | 9.66B | 7.93B | 5.38B | 3.60B |
| Gross Profit | 1.43B | 1.73B | 2.63B | 2.19B | 1.85B | 1.31B |
| EBITDA | 1.17B | 1.53B | 2.67B | 2.13B | 1.55B | 1.10B |
| Net Income | 681.28M | 905.30M | 1.84B | 1.52B | 1.09B | 789.28M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 13.31B | 11.65B | 9.70B | 6.39B | 5.03B |
| Cash, Cash Equivalents and Short-Term Investments | 589.51M | 589.51M | 1.08B | 848.95M | 1.21B | 899.24M |
| Total Debt | 0.00 | 1.54B | 859.90M | 706.55M | 453.96M | 37.76M |
| Total Liabilities | -10.58B | 2.72B | 1.87B | 1.70B | 1.49B | 1.21B |
| Stockholders Equity | 10.58B | 10.55B | 9.76B | 7.98B | 4.88B | 3.80B |
Cash Flow | ||||||
| Free Cash Flow | -1.04B | -1.35B | 276.24M | -1.49B | -45.01M | 83.58M |
| Operating Cash Flow | -311.54M | -623.61M | 339.68M | -1.16B | 41.98M | 226.37M |
| Investing Cash Flow | -511.71M | -721.87M | 103.26M | -695.24M | -214.18M | -147.79M |
| Financing Cash Flow | 719.34M | 574.93M | 92.88M | 1.76B | 378.41M | 27.64M |
EMS Ltd. Technical Analysis
Negative
404.05
Price Trends
398.99
Negative
373.01
Positive
365.36
Positive
Market Momentum
-2.13
Negative
48.06
Neutral
42.66
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:EMSLIMITED, the sentiment is Negative. The current price of 404.05 is above the 20-day moving average (MA) of 383.41, above the 50-day MA of 398.99, and above the 200-day MA of 365.36, indicating a neutral trend. The MACD of -2.13 indicates Negative momentum. The RSI at 48.06 is Neutral, neither overbought nor oversold. The STOCH value of 42.66 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:EMSLIMITED.
EMS Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | ₹75.23B | 19.57 | ― | 0.06% | 15.79% | 22.69% | |
64 Neutral | ₹21.73B | 31.22 | ― | 0.39% | -33.85% | -63.10% | |
61 Neutral | ₹44.06B | 16.15 | ― | 1.07% | 18.73% | ― | |
58 Neutral | ₹15.19B | 7.95 | ― | 0.40% | 74.28% | 47.73% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹59.60B | 29.87 | ― | 0.62% | 19.79% | -16.99% | |
42 Neutral | ₹17.65B | -1.35 | ― | 1.78% | -38.23% | -10.95% |
* General Sector Average
IN:EMSLIMITED
EMS Ltd.
382.90
-171.62
-30.95%
IN:BGRENERGY
BGR Energy Systems Limited
235.75
2.85
1.22%
IN:GVPIL
GE Power India Ltd.
652.50
289.27
79.64%
IN:ISGEC
ISGEC Heavy Engineering Ltd.
796.70
-194.30
-19.61%
IN:KPEL
K.P. Energy Ltd.
214.80
-196.87
-47.82%
IN:POWERMECH
Power Mech Projects Ltd.
2,423.45
-649.50
-21.14%
EMS Ltd. Corporate Events
EMS Limited bags Rs 105.82 crore sewerage contract from UP Jal Nigam in Varanasi
Aug 20, 2026
EMS Limited has received a Letter of Acceptance from UP Jal Nigam (Urban), Varanasi for a major sewerage project in the Ramnagar zone extended area of Nagar Nigam Varanasi. The domestic contract, awarded with EMS as the lowest bidder, covers surve...
EMS Limited Wins Rs. 222 Crore Rajasthan Water Infrastructure Bid
Aug 20, 2026
EMS Limited has secured lowest bidder status from the Public Health Engineering Department of the Government of Rajasthan for a major water infrastructure project in Udaipur district. The contract covers design, construction and commissioning of a...
EMS Limited Board Confirms Internal and Tax Auditors for FY 2026-27
Jul 25, 2026
EMS Limited’s board of directors met on July 25, 2026 and approved key auditor appointments for the 2026-27 financial year, underscoring its focus on governance and regulatory compliance. The company named M/s Sakshi Sharma Associates as it...
EMS Limited appoints new internal auditor and renews tax auditor mandate for FY 2026-27
Jul 25, 2026
EMS Limited’s board, acting on the audit committee’s recommendation, has appointed M/s Sakshi Sharma Associates as the company’s internal auditors for the 2026-27 financial year. The firm will oversee internal audit functions, r...
EMS Limited Files SEBI Compliance Certificate for June 2026 Quarter
Jul 2, 2026
EMS Limited has submitted a compliance certificate to Indian stock exchanges confirming adherence to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026. The certificate, issued by its...
Exchange Seeks Clarification From EMS Ltd. After Surge in Trading Volume
Jun 17, 2026
Trading in EMS Ltd. shares has seen a sharp increase in volume, prompting attention from the stock exchange to ensure that investors have access to up‑to‑date, relevant information on the company.The exchange has formally requested a c...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.