Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 211 | 200 | 245 | 206 | 233 | 245 | 270 | 239 | 173 | 200 | 120 | 157 |
| Expenses | 154 | 153 | 178 | 156 | 165 | 174 | 205 | 185 | 136 | 170 | 102 | 131 |
| Operating Profit | 57 | 47 | 68 | 50 | 69 | 71 | 65 | 54 | 37 | 31 | 18 | 26 |
| OPM % | 27% | 23% | 28% | 24% | 29% | 29% | 24% | 23% | 21% | 15% | 15% | 17% |
| Other Income | 8 | 6 | 1 | 2 | 2 | 3 | 2 | 2 | 4 | 3 | 3 | 2 |
| Interest | 2 | 1 | 2 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 4 | 5 |
| Depreciation | 1 | 1 | 3 | 2 | 2 | 3 | 3 | 3 | 2 | 3 | 3 | 2 |
| Profit before tax | 62 | 51 | 64 | 49 | 67 | 70 | 63 | 51 | 36 | 27 | 15 | 21 |
| Tax % | 26% | 26% | 26% | 25% | 26% | 27% | 25% | 25% | 23% | 29% | 61% | 26% |
| Net Profit | 45 | 37 | 47 | 37 | 50 | 51 | 47 | 38 | 28 | 19 | 6 | 15 |
| EPS in Rs | 8.15 | 6.72 | 8.53 | 6.68 | 8.94 | 9.09 | 8.39 | 6.82 | 5.09 | 3.39 | 1.01 | 2.79 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales | 326 | 331 | 360 | 538 | 793 | 972 | 731 | 652 |
| Expenses | 230 | 232 | 247 | 388 | 589 | 712 | 588 | 539 |
| Operating Profit | 96 | 99 | 113 | 150 | 204 | 261 | 143 | 112 |
| OPM % | 30% | 30% | 31% | 28% | 26% | 27% | 20% | 17% |
| Other Income | 7 | 5 | 3 | 5 | 16 | 9 | 12 | 12 |
| Interest | 3 | 4 | 6 | 4 | 6 | 11 | 16 | 15 |
| Depreciation | 2 | 2 | 3 | 3 | 7 | 10 | 10 | 10 |
| Profit before tax | 98 | 98 | 107 | 148 | 207 | 249 | 129 | 99 |
| Tax % | 26% | 27% | 27% | 26% | 26% | 26% | 29% | |
| Net Profit | 72 | 72 | 79 | 109 | 153 | 184 | 91 | 69 |
| EPS in Rs | 61.64 | 61.17 | 66.51 | 22.91 | 27.44 | 33.05 | 16.30 | 12.28 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 7% | 5% | 9% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 17% | 11% | -34% | ||
| Compounded Profit Growth | % | 5% | -6% | -63% | ||
| Stock Price CAGR | % | % | 8% | -38% | ||
| Return on Equity | % | 18% | 17% | 9% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 47 | 56 | 56 | 56 |
| Reserves | 218 | 290 | 368 | 444 | 743 | 920 | 1,000 |
| Borrowings | 16 | 4 | 4 | 45 | 71 | 86 | 154 |
| Other Liabilities | 62 | 73 | 119 | 103 | 101 | 104 | 121 |
| Total Liabilities | 308 | 378 | 503 | 639 | 970 | 1,165 | 1,331 |
| Fixed Assets | 31 | 36 | 51 | 54 | 94 | 96 | 123 |
| CWIP | 0 | 3 | 0 | 4 | 0 | 0 | 37 |
| Investments | 0 | 0 | 1 | 2 | 10 | 18 | 10 |
| Other Assets | 276 | 340 | 451 | 579 | 866 | 1,052 | 1,160 |
| Total Assets | 308 | 378 | 503 | 639 | 970 | 1,165 | 1,331 |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 47 | 36 | 23 | 4 | -116 | 36 | -15 |
| Cash from Investing Activity | -27 | -8 | -15 | -21 | -83 | 19 | -60 |
| Cash from Financing Activity | -6 | -11 | 3 | 38 | 176 | -2 | -2 |
| Net Cash Flow | 15 | 16 | 11 | 21 | -23 | 54 | -77 |
| Free Cash Flow | 21 | 27 | 9 | -4 | -140 | 30 | -88 |
| CFO/OP | 50% | 36% | 20% | 31% | -36% | 38% | 14% |
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 103 | 160 | 84 | 112 | 141 | 193 |
| Inventory Days | 27 | 163 | |||||
| Days Payable | 8 | 24 | |||||
| Cash Conversion Cycle | 44 | 103 | 160 | 84 | 112 | 160 | 333 |
| Working Capital Days | 125 | 183 | 219 | 137 | 180 | 186 | 297 |
| ROCE % | 37% | 33% | 33% | 29% | 27% | 13% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% | 69.70% |
| FIIs | 7.23% | 4.09% | 2.78% | 0.88% | 0.75% | 0.66% | 0.19% | 0.17% | 0.15% | 0.21% | 0.41% | 0.14% |
| DIIs | 1.78% | 1.45% | 1.43% | 1.58% | 1.08% | 0.40% | 0.61% | 0.40% | 0.35% | 0.04% | 0.04% | 0.05% |
| Public | 21.28% | 24.75% | 26.08% | 27.84% | 28.46% | 29.24% | 29.51% | 29.72% | 29.79% | 30.05% | 29.84% | 30.10% |
| No. of Shareholders | 46,765 | 38,767 | 43,841 | 58,971 | 94,855 | 1,14,561 | 1,28,071 | 1,29,977 | 1,28,706 | 1,24,117 | 1,19,086 | 1,20,731 |
Fundamentals
Market Cap₹ 1,874 Cr.
Current Price₹ 338
Stock P/E27.5
Book Value₹ 190
ROCE12.8 %
ROE8.91 %
Dividend Yield0.44 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-34%
Compounded Profit Growth (TTM)-63%
Consolidated figures.
Valuation
Market capRs 1,558 Cr
Enterprise valueRs 1,482 Cr
P/E (TTM)22.87x
Price to book3.18x
Price to sales2.39x
EV / EBITDA11.92x
EV / EBIT12.94x
EV / sales2.28x
Price to cash flow371.02x
Earnings yield4.37%
Profitability
Operating margin (excl. other income)27.88%
Operating margin (incl. other income)28.83%
EBITDA margin19.08%
Pre-tax margin15.26%
Net profit margin10.46%
Net margin, latest quarter9.84%
ROE24.73%
ROCE32.98%
ROA18.87%
ROE, 3-year average24.89%
ROCE, 3-year average34.36%
ROA, 3-year average19.19%
ROIC (approx.)20.32%
Tax rate26.39%
Other income / net worth1.04%
Growth
Sales growth (latest year)49.54%
Profit growth (latest year)37.80%
Sales CAGR, 3 years18.23%
Profit CAGR, 3 years14.13%
Sales growth QoQ30.49%
Profit growth QoQ176.92%
Sales growth YoY (latest quarter)-34.18%
Profit growth YoY (latest quarter)-59.13%
Per share
EPS (TTM)Rs 14.50
EPS (latest year)Rs 22.91
EPS (latest quarter)Rs 3.29
EPS, 3-year averageRs 50.20
Book value per shareRs 104.41
Sales per shareRs 138.64
Cash flow per shareRs 0.89
Free cash flow per shareRs -18.72
Efficiency
Asset turnover0.84x
Fixed asset turnover9.97x
Inventory turnover3.43x
Inventory days106 days
Debtor days84 days
Debtors turnover4.36x
Creditor days24 days
Cash conversion cycle333 days
Working capital days297 days
Leverage
Total debtRs 45 Cr
Cash and bankRs 121 Cr
Net debtRs -76 Cr
Debt to equity0.09x
Net debt / EBITDA-0.61x
Interest coverage7.58x
Current ratio (filing 2026-03-31)5.14x
Quick ratio (filing 2026-03-31)3.71x
Trade payables (filing 2026-03-31)Rs 33 Cr
Owners' fund to total sources76.80%
Debt to assets7.11%
Cash flow
Cash from Operating Activity (latest year)Rs 4 Cr
Cash from Investing Activity (latest year)Rs -21 Cr
Cash from Financing Activity (latest year)Rs 38 Cr
Net Cash Flow (latest year)Rs 21 Cr
Free cash flow (latest year)Rs -88 Cr
FCFE (approx.: FCF + change in debt)Rs -46 Cr
Cash from ops / profit, 5 years-0.11x
Sales to cash flow128.13x
Statement figures
Net sales (TTM)Rs 652 Cr
Net sales (latest year)Rs 538 Cr
Sales (latest quarter)Rs 157 Cr
Operating profit excl. other income (latest year)Rs 150 Cr
Operating profit (latest quarter)Rs 26 Cr
Other income (TTM)Rs 12 Cr
EBITDA (TTM)Rs 124 Cr
PBDT (TTM)Rs 109 Cr
Profit before tax (TTM)Rs 99 Cr
Tax (latest year)Rs 39 Cr
Net profit (TTM)Rs 68 Cr
Net profit (latest year)Rs 108 Cr
Net profit (latest quarter)Rs 15 Cr
Depreciation (TTM)Rs 10 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 15 Cr
Cost of goods sold (latest year)Rs 360 Cr
Total expenditure (latest year)Rs 388 Cr
Total income (latest year)Rs 543 Cr
Share capitalRs 47 Cr
ReservesRs 444 Cr
Shareholders' fundsRs 491 Cr
Total assetsRs 639 Cr
Net blockRs 54 Cr
Capital work in progressRs 4 Cr
InvestmentsRs 2 Cr
ReceivablesRs 124 Cr
InventoryRs 105 Cr
Other liabilitiesRs 103 Cr
Shares outstanding (crore)4.70
Ownership
Promoter holding69.70% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 22.9 is at the 53th percentile of its own 3.2-year range
(median 21.4, low 9.3, high 55.7).
P/B 3.18 is the lowest in 3.2 years (median 7.70).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | EMSLIMITED | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -7.5% | -2.8% | -4.8 pts |
| 1 month | -11.0% | -6.8% | -4.2 pts |
| 3 months | -22.5% | -7.6% | -14.9 pts |
| 6 months | +27.6% | +0.4% | +27.2 pts |
| 1 year | -41.0% | -9.9% | -31.0 pts |
| 2 years | -58.6% | -13.6% | -45.1 pts |
| 3 years | +24.5% | +14.2% | +10.3 pts |
2 mutual fund schemes hold about ₹0 Cr.
Over three months 1 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Motilal Oswal BSE Clean Environment Index Fund | 0.18% | 0 | +28% |
| Motilal Oswal BSE 1000 Index Fund | 0.00% | 0 |
Red flags
F-score 4 of 7| explain | Weak cash conversion Cash from operations was 24% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 16% of total assets in 2026 |
| look | Inventory outrunning sales Inventory grew 94% vs sales +50% in 2026 |
| look | Auditor change Auditor change 2026-07-25: Ems Limited has informed the Exchange regarding Change in Auditors of the company. |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹157 Cr -34.3% vs Jun 2025.
Net profit ₹15 Cr -60.5%.
Activity
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|---|---|---|---|
| Refex Industries Ltd | 3,729 | 13.1 | 22.7 % |
| Antony Waste Handling Cell Ltd | 1,029 | 17.6 | 11.2 % |
| Effwa Infra & Research Ltd | 831 | 29.0 | 29.3 % |
| Eco Recycling Ltd | 779 | 32.4 | 30.8 % |
| Namo eWaste Management Ltd | 765 | 53.4 | 21.3 % |
| Z-Tech (India) Ltd | 641 | 17.4 | 20.0 % |
| Concord Enviro Systems Ltd | 538 | 6.76 % | |
| VVIP Infratech Ltd | 360 | 12.0 | 18.8 % |
| Hi-Green Carbon Ltd | 307 | 59.4 | 10.2 % |
| Organic Recycling Systems Ltd | 304 | 12.1 | 15.9 % |
| Race Eco Chain Ltd | 206 | 27.4 | 11.1 % |
| Urban Enviro Waste Management Ltd | 106 | 7.14 | 29.1 % |
| Gem Enviro Management Ltd | 81 | 18.2 | 11.8 % |
| Greenleaf Envirotech Ltd | 65 | 9.01 | 34.7 % |
| EP Biocomposites Ltd | 16 | 11.3 | 16.3 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-18 | Dividend - Rs 1.50 Per Share | |
| 2025-09-19 | Dividend - Rs 1.50 Per Share | |
| 2024-09-20 | Dividend - Re 1 Per Share | |
| 2023-11-24 | Interim Dividend - Re 1 Per Share |
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of EMS Ltd?
EMS Ltd (EMSLIMITED) has a market capitalisation of Rs 1,874 Cr. at the 2026-10-01 close.
What is the P/E ratio of EMS Ltd?
EMS Ltd trades at a P/E of 27.5 on trailing twelve-month profit, at the 2026-10-01 close.
What were EMS Ltd's latest quarterly results?
In the Jun 2026 quarter, EMS Ltd sales was Rs 157 Cr (-34.3% vs Jun 2025) and net profit was Rs 15 Cr.
What is the 52-week high and low of EMS Ltd?
The 52-week high is Rs 576.90 and the 52-week low is Rs 256.05.