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Earnings Call

EMS Earnings Call: Key Takeaways

EMS Ltd reported a significant FY26 Q4 revenue miss, attributing the shortfall to government payment delays and election-related work stoppages in West Bengal.

Why this was an Alfa AlertNot a filter event. The company reported a significant revenue miss rather than a beat.
Highlights
Revenue growthConsolidated revenue fell 37% YoY due to execution delays.
MarginsEBITDA margins impacted by fixed costs on stalled projects.
Order bookUnexecuted order book stands at ₹1,837cr as of March 2026.
Demand visibilityStrong pipeline with ₹2,500cr-₹3,000cr in active tenders.
Management confidenceDefensive; management blamed external factors for missing prior guidance.

Growth

Revenue fell 37% YoY to ₹732cr; growth was negatively impacted by a ₹100cr inventory buildup from unbilled milestones.

Outlook

Targeting FY27 revenue of ₹1,000cr and 15% PAT margins as operations stabilize.

Risks

Heavy dependence on government funding and timely permissions; persistent working capital stress due to new payment portals.

Source

Earnings Call filed with BSE, NSE: EMSLIMITED. Summary written with AI assistance from the document.

Read the document ↗

EMS Ltd: key numbers

Share price
₹314.65
Market cap
₹1,747 Cr
Revenue (annual)
₹732.8 Cr
Net profit (annual)
₹90.53 Cr
P/E (TTM)
27.6×Sector 21.5×
Promoter holding
69.70%+0.00% QoQ
FII holding
0.44%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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13:06 IST BSE
New Order Win

EMS Bags ₹129.8 Cr Order from Municipal Corporation Jodhpur

EMS Ltd received an LOA from Municipal Corporation Jodhpur for sewerage work under AMRUT 2.0 valued at ₹129.80 Crore. Execution period is 24 months.

Value
₹129.8 Cr
From
Municipal Corporation Jodhpur
Execution
24 months