EMS
EMS Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Current order book stands at over Rs.2,200 crores as of December 2025. The company expects gradual recovery and growth starting Q4 FY26, with significant acceleration from Q1 FY27.
From EMS's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Current order book stands at over Rs.2,200 crores as of December 2025.
- Expected order inflow of around Rs.1,000 crores in the next 3-4 months, potentially increasing the order book to about Rs.3,000 crores by Q1 FY27.
- Company targets a 40%-50% growth in order book during FY26.
- Several large projects (totaling approx. Rs.1,100 crores) started in Q3, with revenues expected to ramp up in Q4 FY26 and Q1 FY27 as execution gains pace.
- Revenue recovery delayed due to rain and natural disasters in Uttarakhand affecting Q2 and Q3, but a strong rebound is expected post Q4 FY26.
- Long-term outlook suggests FY27 revenue will surpass FY25 levels.
- The company is aggressively bidding, especially for Delhi Jal Board projects and others across states, maintaining a healthy bidding pipeline of Rs.4,000 crores.
Profitability & Margins
See what EMS said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- EMS Limited took over a factory near Kanpur (Fatehpur) from NCLT as collateral for non-fund based bank guarantees.
- Initial plan was not to run the factory, but it is operational, producing about 800-900 tons with potential to scale to 1,100+ tons next financial year.
- The factory is self-sufficient and not requiring further funding from the company.
- The company purchased the land and factory for about Rs.60 crores; the market value is now almost double.
- No plans for further investment in the factory unless profitability improves.
- The company is aggressively bidding on new projects, including a bidding pipeline of around Rs.4,000 crores and expects Rs.1,000 crores in new order inflows in the next 3-4 months.
- Borrowings are sufficient for current project execution; no plans for additional borrowing or expansion in debt.
Top-ranked in Other Utilities
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what EMS said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book as of December 2025 stands at over Rs. 2,200 crores.
- Approximately Rs. 1,100 crores (around 50%) of this order book started execution in Q3, involving major projects in Kolkata, Ayodhya, Agra, and Fatehpur.
- The company is aggressively bidding, especially for Delhi Jal Board and other state projects under AMRUT 2.0, with a bidding pipeline of around Rs. 4,000 crores.
- Expected order inflow over the next 3-4 months is around Rs. 1,000 crores, potentially increasing the order book to about Rs. 3,000 crores by Q1 of the next financial year (FY27).
- The company aims for a winning ratio improvement from 10-15% to around 20% due to aggressive bidding.
- Revenue recognition from new orders starts with some lag due to mobilization and site setup, typically about 90 days after expenditure.
EMS — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹200 Cr, net profit ₹19 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What EMS Ltd's management said in earlier quarters
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Frequently Asked Questions
What were EMS Q3 FY26 results?
Current order book stands at over Rs.2,200 crores as of December 2025. The company expects gradual recovery and growth starting Q4 FY26, with significant acceleration from Q1 FY27.
What is EMS share price analysis?
EMS currently shows a neutral. The stock trades at a P/E of 29.6 with a market cap of ₹2,014 Cr. Investors should review the full earnings analysis for detailed insights.
Is EMS planning capital expenditure?
EMS Limited took over a factory near Kanpur (Fatehpur) from NCLT as collateral for non-fund based bank guarantees.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.