EMS Limited — Investor Meet, 09-09-2025: Analysts/Institutional Investor Meet/Con. Call Updates

EMS Limited's Q1 FY'26 saw revenue at Rs. 211.32 Cr (+3.73% YoY) and PAT at Rs. 37.38 Cr (+1.46% YoY), impacted by early monsoon affecting underground work. Management reaffirmed its FY'26 revenue growth target of 25-30% (Rs. 1250 Cr), expecting H2 to drive recovery. PAT margin aims for 20%+. The unexecuted order book is strong at Rs. 2500 Cr, with Rs. 4000 Cr in bids pipeline. EMS remains debt-free (excluding HAM SPV), prioritizing organic growth. The outlook for water/wastewater projects remains robust. EMS Realtech holds a Rs. 200-250 Cr land bank, and the paper acquisition adds Rs. 100 Cr revenue. Management expresses confidence in future growth.