EMS Limited

NSE: EMSLIMITED · Waste Management · sector

₹282.60NSE close 2026-10-26

Key numbers

Market cap₹1,569 cr

Price₹282.60

52w high / low₹545 / ₹256

P/E23.0xSector median 15.9x

P/B1.5xSector median 1.6x

Book value₹190.1

Dividend yield0.53%Sector median 0.53%

ROE6.7%Sector median 13.5%

ROCE9.5%Sector median 15.9%

OPM17.1%Sector median 16.8%

Debt / equity0.15xSector median 0.26x

EV/EBITDA15.0xSector median 10.5x

Interest cover7.6x

Current ratio5.14x

Sales growth 3y–Sector median +24.1%

Profit growth 3y–Sector median +36.0%

PEG–

Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 10 companies in Waste Management (P/E median leaves out loss-making companies). Tap ? for what a number means.

Things to know

Cash ₹59 cr vs borrowings ₹154 cr (FY26): borrowings are higher by ₹95 cr.
Operating profit covered interest 7.6x in the last 12 months.
20.83% of the promoters' shares are pledged (14.5% of all shares).
Operating cash flow was below net profit in 3 of the last 3 years (FY26, FY25, FY24).
Revenue was higher than a year earlier in 0 of the last 4 quarters.
Other income was 19% of net profit in the last 12 months.
Debtor days went from 112 (FY24) to 193 (FY26).
Dividend paid in 3 of the last 3 financial years.
Price ₹282.60 on 2026-10-26: -48.1% from the 52-week high, +10.4% from the 52-week low.

Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.

Charts

Weekly close · high ₹954.60 · low ₹257.75

Quarterly results

₹ cr	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	233	245	266	239	172	200	120	157
EBITDA	69	71	61	54	36	31	18	26
OPM %	29.4%	29.0%	22.9%	22.7%	21.0%	15.3%	15.2%	16.6%
Other income	2	3	6	2	5	3	3	2
Net profit	50	50	47	38	28	19	6	15
EPS (₹)	8.94	9.09	8.39	6.82	5.08	3.39	1.01	2.79
Revenue YoY					-26.1%	-18.3%	-54.7%	-34.2%
Profit YoY					-43.1%	-62.7%	-88.0%	-59.1%

Consolidated figures where filed. Latest quarter Jun 2026.

Profit & loss (yearly)

₹ cr	FY24	FY25	FY26	TTM
Revenue	793	966	733	651
EBITDA	204	251	140	111
Net profit	152	184	91	68
EPS (₹)	29.38	33.05	16.30	12.27
Revenue growth		+21.7%	-24.1%	-33.9%
Profit growth		+20.4%	-50.7%	-63.1%
Dividend / share (₹)	1.00	1.00	1.50

Compounded growth	3 years	5 years	Last 12 months
Sales	–	–	-33.9%
Net profit	–	–	-63.1%
EPS	–	–	–
Share price	–	-40.0% (2y)	-44.0%

Balance sheet

₹ cr	FY24	FY25	FY26
Shareholders' equity	798	976	1,055
Borrowings	71	86	154
Cash & equivalents	120	162	59
Total assets	970	1,165	1,331
Fixed assets	66	62	79
Capital work in progress	0	0	37
Investments	10	18	10
Receivables	243	377	387
Inventory	89	48	226
Payables	8	15	33

Year-end figures from the March annual filing.

Cash flow

₹ cr	FY24	FY25	FY26
Cash from operations	-116	34	-15
Cash from investing	-70	19	-60
Cash from financing	176	1	-2
Capex	33	6	73
Free cash flow	-149	27	-88

Free cash flow = cash from operations − capex.

Ratios by year

₹ cr	FY24	FY25	FY26
ROE %	19.1%	18.8%	8.6%
ROCE %	24.5%	24.2%	11.8%
Debtor days	112	142	193
Inventory days	59	27	163
Payable days	5	8	24
Cash conversion cycle (days)	166	161	332
Working capital days	211	249	326

Shareholding

Holder	% (2026-09-30)
Promoters	69.70%
FIIs	0.44%
DIIs	0.02%
of which Mutual funds	0.00%
Public (non-institutions)	29.83%

Quarter	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Promoters %	69.70%	69.70%	69.70%	69.70%	69.70%	69.70%	69.70%	69.70%

Promoter group	%
Ramveer Singh	67.85%
Summit Constructions Private Limited	1.80%
Ashish Tomar	0.02%
Kritika Tomar	0.01%
Nirmala Tomar	0.01%
Gajendra Parihar	0.01%
Sakshi Tomar Parihar	0.01%

1,18,809 shareholders. Pledged: 20.83% of promoter shares.

Peers in Waste Management

Company	Market cap	P/E	P/B	ROE	ROCE	OPM	Sales 3y	Div yield
REFEX	₹3,094 cr	12.5x	2.1x	18.1%	26.0%	14.9%	+11.8%	0.21%
EMSLIMITED	₹1,569 cr	23.0x	1.5x	6.7%	9.5%	17.1%	–	0.53%
AWHCL	₹810 cr	13.9x	1.1x	8.4%	11.3%	17.5%	+7.2%	–
ECORECO	₹755 cr	29.4x	6.8x	25.8%	32.2%	59.5%	+39.5%	–
CEWATER	₹465 cr	–	0.8x	-1.3%	2.5%	2.9%	–	–
VVIPIL	₹357 cr	11.9x	1.8x	15.9%	35.4%	20.6%	–	–
RACE	₹180 cr	22.8x	2.4x	10.5%	11.1%	2.8%	+32.0%	–
ORGANICREC	₹171 cr	6.7x	1.4x	21.1%	16.1%	28.8%	–	–
GEMENVIRO	₹85 cr	17.9x	2.0x	11.9%	15.7%	5.5%	–	0.70%
EPBIO	₹15 cr	–	1.4x	15.1%	22.0%	16.4%	+24.1%	–

All 10 companies in Waste Management →

Business segments (FY26)

Segment	Revenue	Share	EBIT	Margin
Contractor	₹634 cr	86.5%	₹142 cr	22.4%
Manufacturing of flex sheets and paper products	₹99 cr	13.5%	₹1 cr	0.8%

Dividends & corporate actions

Ex-date	Action	Detail
2026-09-18	Dividend	Dividend - Rs 1.50 Per Share
2025-09-19	Dividend	Dividend - Rs 1.50 Per Share
2024-09-20	Dividend	Dividend - Re 1 Per Share
2023-11-24	Dividend	Interim Dividend - Re 1 Per Share

Documents

Links go to the original files on the exchange website.

About the company

Water supply, sewerage and waste management: Sewerage
Costruction: Buildings


Sector	Utilities
Industry	Waste Management
Sub-industry	Waste Management
Symbol	EMSLIMITED
BSE code	543983
ISIN	INE0OV601013
Face value	₹10.0
Incorporated	2010-12-21
Website	www.ems.co.in
Plants (India / abroad)	40 / 0

From the company's filings (BRSR FY26).

Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.