EMS Limited — Investor Meet, 03-06-2026: Analysts/Institutional Investor Meet/Con. Call Updates

EMS reported disappointing Q4 FY26 consolidated revenue of Rs. 120 Cr and full-year revenue of Rs. 732 Cr, a 36-37% YoY fall. Management attributed this to external factors like delayed government permissions, payment delays, West Bengal elections, and weather issues, noting ~Rs. 100 Cr in unbilled inventory. The unexecuted order book stands at Rs. 1,837 Cr, with Rs. 1,500 Cr new orders targeted for FY27. Management aims for FY27 revenue of Rs. 1,000 Cr, 15% PAT, and 25% EBITDA, projecting a return to 20-25% long-term CAGR despite current setbacks. Investors questioned past unmet commitments, to which management clarified efforts to recover and improve.