EMS share price surged 7.69% to ₹401.05 after the company received the lowest bidder (L-1) status awarded by Directorate of Local Bodies, Government of Rajasthan for Sewerage Work. According to reports, the estimated order value (including GST) is approximately ₹218.65 crore, representing a significant contract win for the company. The project involves sewerage and septage management, including sewer systems with sewage treatment plants and the laying, jointing, testing and commissioning of sewerage systems across six urban local bodies in Ganganagar, Hanuman Nagar and Churu districts. The scope also includes a one-year defect liability period and 10 years of operations and maintenance, with the project scheduled to be executed over 18 months. The company has stated it will provide further updates upon receipt of the Letter of Award (LOA) for the project.
As of the latest trading session, EMS Limited share price stands at ₹401.05, representing a ₹24.14 increase from its previous closing. The stock has fluctuated between ₹385.4 and ₹409.5 during today's trading session. Over the past year, EMS Limited has achieved a return of -29.94%, while the return in the last month alone has been -10.12%. The company's market capitalization stands at ₹2,223.20 crore as of the current trading session.
EMS Limited's Q1 FY27 standalone operating revenue rose to ₹125.72 crore, demonstrating strong sequential growth compared to ₹83.66 crore in Q4 FY26. The company's sequential standalone net profit surged by 184.66% to ₹15.03 crore in Q1 FY27 from ₹5.28 crore in Q4 FY26. The ₹218.65 crore Rajasthan project, along with multiple recent L-1 project wins totaling over ₹1,800 crore, significantly improves EMS Limited's long-term revenue visibility, supporting its sequential financial recovery. The company has also secured L-1 bidder status for a ₹1,298 crore sewerage project in Jodhpur and received formal Letter of Award for water supply projects in Kota and Udaipur worth ₹190.86 crore and ₹222.46 crore respectively. However, on a consolidated basis, net profit declined 59.13% YoY to ₹15.48 crore in Q1 FY26, while net sales declined 34.18% YoY to ₹157.24 crore.
The continuous inflow of municipal orders across Northwest India highlights EMS Limited's competitiveness in the water and wastewater EPC segment. The ₹218.65 crore contract with an 18-month execution phase provides robust short-term top-line support, while the 10-year O&M contract provides long-term cash flow predictability. This aligns with management's Q1 FY27 commentary focusing on expanding the regional order book and enhancing execution efficiency. The domestic EPC market continues to benefit from strong state-level capital expenditure on sanitation and water treatment under government infrastructure schemes. While competitive bidding remains intense, winning multiple municipal mandates confirms regional execution capabilities and helps the company recover margins. EMS provides EPC and O&M services in sewerage, water supply and wastewater infrastructure for government authorities and local bodies, also undertaking electrical transmission and distribution projects across several Indian states.
