EMS Limited — PPTs, 28-05-2025: Investor Presentation

1. Financial Highlights:

Revenue reached ₹965.83 Cr, showing a strong ~48.5% CAGR over four years. PAT stood at ₹183.78 Cr with a healthy 19% margin, while EBITDA margin hovered around 26%. RoE and RoCE remained steady between 19-23%. Fixed asset turnover was robust at approximately 12.7x, reflecting efficient asset use. The order book totaled ₹2236.43 Cr, dominated by 77% construction and 23% O&M contracts, with water and wastewater projects accounting for 75%.

2. Strategic Initiatives & Growth Drivers:

EMS Limited is expanding project sizes substantially, from 4 MLD to 80 MLD sewage treatment plants, and broadening its footprint across states like UP, Bihar, and Maharashtra. It leverages government water initiatives and enhances pre-qualification for larger projects. Operating an asset-light turnkey EPC model with full in-house capabilities, EMS emphasizes talent retention and a strong performance culture to sustain growth momentum.

3. Business Developments:

Key recent awards include a ₹416.46 Cr sewage treatment plant project in Indore (26% JV share), a ₹105.08 Cr multimodal logistics park in Maharashtra, and a ₹272.89 Cr multi-storey civil and MEP housing project in Noida. These contracts diversify EMS’s portfolio into logistics and real estate alongside its core water infrastructure business.

4. Market Position & Competitive Advantage:

With full-stack EPC and O&M capabilities, EMS stands out by executing integrated water infrastructure projects, a capability limited among peers. Its decade-long track record, solid order book, govt. and World Bank affiliations, plus a scalable asset-light model, position it as a strong player in India’s water/wastewater space.

5. Investor Implications:

Well-placed to benefit from rising water infrastructure demand amid worsening scarcity. Robust financials and a healthy order pipeline indicate positive growth potential, especially through large government capex projects. Investors should watch for effective execution of large contracts and successful geographical expansion as key factors for sustained gains.