EMS Ltd
NSE:EMSLIMITED
EMS Ltd
EMS Ltd is a IN-based company operating in Aerospace & Defense industry. The company is headquartered in Ghaziabad, Uttar Pradesh. The company went IPO on 2023-09-21. EMS Limited is an India-based company. The firm is engaged in the business of providing sewerage solutions, water supply systems, water and waste treatment plants, electrical transmission and distribution, road and allied works, and the operation and maintenance of wastewater scheme projects (WWSPs) and water supply scheme projects (WSSPs) for government authorities and 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 the laying of pipelines for the supply of water (projects). The firm's services include sewerage and their allied works; water supply works; road and allied works; design and construction of power transmission and distribution infrastructure; maintenance of public infrastructure facilities and utilities; design and construction of buildings and allied works; and installing electricity transmissions.
EMS Ltd is a IN-based company operating in Aerospace & Defense industry. The company is headquartered in Ghaziabad, Uttar Pradesh. The company went IPO on 2023-09-21. EMS Limited is an India-based company. The firm is engaged in the business of providing sewerage solutions, water supply systems, water and waste treatment plants, electrical transmission and distribution, road and allied works, and the operation and maintenance of wastewater scheme projects (WWSPs) and water supply scheme projects (WSSPs) for government authorities and 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 the laying of pipelines for the supply of water (projects). The firm's services include sewerage and their allied works; water supply works; road and allied works; design and construction of power transmission and distribution infrastructure; maintenance of public infrastructure facilities and utilities; design and construction of buildings and allied works; and installing electricity transmissions.
Weak Q3 Results: Q3 performance was much lower than expected due to project delays from heavy rainfall and natural disasters in Uttarakhand, as well as slow ramp-up of new projects.
Order Book Position: The company currently has an unexecuted order book of about INR 2,200 crores and expects it to rise to around INR 3,000 crores in Q1 of the next financial year.
Margin Pressure: Margins were under pressure in Q3, with PAT around 10% and EBITDA around 15%, mainly due to upfront expenses on projects still in the design phase and not yet billable.
Guidance & Outlook: Management expects Q4 to be better than Q3, but aggressive recovery and stronger financial performance are only expected from Q1 of the next fiscal year. FY '27 is expected to surpass FY '25 revenue.
Pledged Shares: Promoter share pledging increased to around 28% due to personal real estate investments; management aims to reduce pledged shares by repaying loans by FY '27.
No Financial Distress: Management repeatedly assured that the company faces no financial or order book distress and is aggressively bidding for new projects.
