EMSLIMITEDUtilities

EMS Limited

Waste Management · ISIN INE0OV601013 · BSE 543983 · NSE EQ · FV ₹10
Last price
₹365
+0.62%today
What this company does

EMS Limited operates in Waste Management, part of the Utilities sector. It booked ₹157 cr of revenue in its latest quarter (Q1 FY27) and kept 9.8% of sales as profit. It is the 2nd largest of 5 Waste Management companies we track, by market value.

In the report:
53out of 100
Equitytale Health Score
Mixed

Healthier than 53% of companies in Utilities, on the 5 of 6 measures we could read for it. Each measure is ranked against the 6–25 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
39

At close. Not part of the score.

Profitability & returns42

How much profit it earns on the money it employs

Balance sheet76

How much it owes, and whether earnings cover the interest

Cash quality32

Whether reported profit actually arrives as cash

Valuation50

What today's price implies, against our models or its peers

Governance & risk74

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 70%
Watch-outs
! Sales down 34% vs last year
! Profit down 59% vs last year
! 22.0% of promoter stake pledged
! Low 5.9% return on equity
! Operating cash flow is negative

What if I invest in EMSLIMITED?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹365 +0.62%
latest close · 2026-09-17
52-wk low ₹35542 sessions so far52-wk high ₹430
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio32.7High
LowAverageHigh
P/B ratio1.92Moderate
Below bookModerateHigh
EV / EBITDA19.2High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.9%Weak
WeakFairStrong ▸15%
Return on capital8.9%Fair
WeakFairStrong
Net margin9.8%Decent
ThinDecentStrong
EBITDA margin17.9%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.15Comfortable
LowModerateHigh ▸1
Interest cover5.3×Strong
RiskyOkayStrong ▸5×
Current ratio5.14Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹2,024 cr
Book value
₹190
EPS
₹2.79
latest quarter
Net debt
₹137 cr
owes more than its cash
Enterprise value
₹2,161 cr
EBITDA
₹113 cr
annualised
EBIT
₹104 cr
annualised
Operating margin
16.5%
Return on assets
4.7%
Earnings yield
3.06%
P/S
3.22
Sales / share
₹113.3
Tax rate
26.5%
Face value
₹10
Shares
5.6 cr
Working capital
₹654 cr
Current assets
₹812 cr
Current liabilities
₹158 cr
Delivery %
37.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Looks overpricedMedium confidence
Median of 3 models ₹218 vs market price ₹365 — price is 67% above it
Safety cushion-66.9%(target ≥ +20%)
Models span ₹196₹343, midpoint ₹218
Model ₹218
Price ₹365
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹157 cr
Other Income₹2 cr
Total Income₹159 cr
Cost of Materials₹121 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-9 cr
Employee Benefit Expense₹10 cr
Finance Costs₹5 cr
Depreciation & Amortisation₹2 cr
Other Expenses₹9 cr
Total Expenses₹138 cr
Profit before Tax₹21 cr
Tax Expense₹6 cr
Net Profit₹15 cr
Net margin on total income9.7%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹112 cr70.5%
Employee benefit expense₹10 cr6.3%
Finance costs₹5 cr3.1%
Depreciation & amortisation₹2 cr1.3%
Other expenses₹9 cr5.5%
Tax expense₹6 cr3.5%
Profit for the period₹15 cr9.7%
Total income ₹159 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue200 cr120 cr157 cr
Total income203 cr124 cr159 cr
Expenses176 cr109 cr138 cr
Profit before tax27 cr15 cr21 cr
Tax8 cr9 cr6 cr
Net profit (owners' share)19 cr6 cr15 cr
Net margin (owners' share, on revenue)9.4%4.6%9.8%
EPS (₹)3.391.012.79
YoY (latest quarter): total income -33.9% · net profit -59.1%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,331 cr
Shareholder equity
₹1,055 cr
parent shareholders
Total debt
₹154 cr
Cash
₹17 cr
Cash flow · H1 FY26
Operating
₹-31 cr
Investing
₹-51 cr
Financing
₹72 cr
Peer comparison
Waste Management · by market value
CompanyPriceMarket capP/E
Refex Industries Limited₹272₹3,729 cr12.6
EMS Limitedthis company₹365₹2,024 cr32.7
Antony Waste Handling Cell Limited₹380₹1,077 cr351.5
Concord Enviro Systems Limited₹257₹531 cr
Race Eco Chain Limited₹97₹167 cr40.3
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.41%
trailing 12 months
Dividend / share (TTM)
₹1.5
Last dividend
₹1.5
ex 19 Sep 2025
ActionDetailEx-date
Dividend₹1.5 / share19 Sep 2025
Dividend₹1 / share20 Sep 2024
Dividend₹1 / share24 Nov 2023
Who owns it · 2026-06-30
21.9% pledged
Promoter
69.7%
FII / Foreign
0.1%
DII / Domestic
0.1%
Retail / others
30.1%
Smart-money activity
Bulk / block deals
BoughtQE SECURITIES LLP · NSE3.11 L @ ₹395.492 Sep 26
SoldQE SECURITIES LLP · NSE2.92 L @ ₹399.332 Sep 26
SoldNK SECURITIES RESEARCH PRIVATE LIMITED · NSE3.05 L @ ₹397.872 Sep 26
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 23 Mar 2026
See the official result
1
To Approve the Proposal for Raising of Funds in one or more Tranches by way of Issuance of Equity Shares through Qualified Institutional Placement QIP for an amount aggregating upto 300 Crores
Backed by 81% of shareholders other than promotersneeded 75%
50,118 votes for, 11,620 against · 92% of mutual funds and other big investors said no
2
To Approve Amendment of Capital Clause of Memorandum of Association
Backed by 99% of shareholders other than promotersneeded 50%
61,357 votes for, 381 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 7 named members
owning 69.7% between them · as of 2026-06-30
RAMVEER SINGH67.85%
SUMMIT CONSTRUCTIONS PRIVATE LIMITED1.80%
ASHISH TOMAR0.02%
GAJENDRA PARIHAR0.01%
KRITIKA TOMAR0.01%
NIRMALA TOMAR0.01%
SAKSHI TOMAR PARIHAR0.01%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.