# EMS share price today (EMS Ltd, NSE: EMSLIMITED)

> EMS share price today: ₹289.15 at the NSE close on 3 November 2026, down 45.3% in a year. EMS (NSE: EMSLIMITED) is worth ₹1,605 crore, trades at a P/E of 23.6 and has closed between ₹270.50 and ₹510.50 over the past 52 weeks. > EMS Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. EMSLIMITED · Infra - Engineering - General · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ems-ltd

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## Key numbers

- Business trend: Getting worse, from fewer quarters than usual
- Price: ₹289.15 (−45.3% in a year)
- P/E: 23.6× (higher than 64% of the last 3.1 years)
- Revenue (Jun 2026): ₹157 Cr (−34.3% on a year ago)
- Profit (Jun 2026): ₹15.0 Cr (−60.5% on a year ago)
- Operating margin: 17.0% (−6.0 points on a year ago)
- ROCE: 13%, FY26
- ROIC: 6.1%, against a 12.0% cost of capital: −5.9 points

Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. ## What is the EMS share price today? EMS Ltd's share price was ₹289.15 at the close on 3 November 2026. It has been falling for 7 weeks. That is 23.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹271 and ₹511, and at that close it sat 8% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 9 weeks running. Over the last 3.1 years the share price moved +8% while the NIFTY 500 moved +26%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 4 September 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at EMS this quarter? Three changes stood out: revenue down on a year earlier for 4 quarters in a row, profit down on a year earlier for 4 quarters in a row and operating margin down 6 points on a year earlier. 1. Revenue down on a year earlier for 4 quarters in a row In the June 2026 quarter revenue was ₹157 crore, -34.3% on a year earlier. Why: Revenue fell because election restrictions and weather delayed civil work in Kolkata and Uttarakhand. Next results: check whether rain still limits how much civil work gets done. From the earnings call on 13 Aug 2026. 2. Profit down on a year earlier for 4 quarters in a row In the June 2026 quarter profit was ₹15 crore, -60.5% on a year earlier. Why: Profit fell because revenue dropped while fixed site costs such as labour and machinery rental stayed largely the same. Next results: check whether profit margin recovers as more order-book work turns into revenue. From the earnings call on 13 Aug 2026. 3. Operating margin down 6 points on a year earlier 17% in the June 2026 quarter, from 23%. Why: Operating margin fell because revenue dropped while fixed site costs such as labour and machinery rental stayed largely the same. Next results: check whether operating margin recovers as more order-book work turns into revenue. From the earnings call on 13 Aug 2026. ## What are EMS' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), EMS reported revenue of ₹157 crore, down 34.3% from ₹239 crore a year earlier, and a profit of ₹15.0 crore, down 60.5% from ₹38.0 crore. ### EMS results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹157 crore | ₹239 crore | −34.3% |
| Profit | ₹15.0 crore | ₹38.0 crore | −60.5% |
| Earnings per share | ₹2.79 | ₹6.82 | −59.1% |
| Operating margin | 17.0% | 23.0% | −6.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). EMS' management discussed these results on a call held on 13 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the EMS share price history? EMS closed at ₹289.15 on 3 November 2026, down 45.3% from ₹528.25 a year earlier (31 October 2025) and down 4.1% over three years. Its highest weekly close since September 2023 was ₹901.75 on 20 December 2024. ### EMS share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹284.85 | +1.5% |
| 1 month ago · 1 Oct 2026 | ₹331.55 | −12.8% |
| 6 months ago · 30 Apr 2026 | ₹347.30 | −16.7% |
| 1 year ago · 31 Oct 2025 | ₹528.25 | −45.3% |
| 3 years ago · 3 Nov 2023 | ₹301.50 | −4.1% |
| Earliest weekly close in our records · 22 Sep 2023 | ₹267.70 | +8.0% |
| Highest weekly close since September 2023 · 20 Dec 2024 | ₹901.75 | −67.9% |
| Lowest weekly close since September 2023 · 29 Sep 2023 | ₹266.35 | +8.6% |
| 52-week high (weekly close) · 7 Nov 2025 | ₹510.50 | −43.4% |
| 52-week low (weekly close) · 6 Mar 2026 | ₹270.50 | +6.9% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (167 weekly closes from 22 September 2023 to 3 November 2026.)

## What is the latest news on EMS? 3 Nov 2026: EMS closed at ₹289.15, up 1.5% on the week and down 12.8% on the month. 18 Sep 2026: ex-date for a dividend of ₹1.50 a share, record date 19 Sep 2026. ### Earlier

- 13 Aug 2026: EMS held its results call for April to June 2026. Management guided: FY27 revenue ₹902-950 crore. - Results for April to June 2026: Revenue down 34.3% and profit down 60.5% on a year earlier. ## What dividend does EMS pay? EMS paid ₹1.50 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.52% at the ₹289.15 close on 3 November 2026. The last was a dividend of ₹1.50 a share, ex-date 18 September 2026. ### EMS dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 18 Sep 2026 | ₹1.50 | Dividend | 19 Sep 2026 |
| 19 Sep 2025 | ₹1.50 | Dividend | same day |
| 20 Sep 2024 | ₹1 | Dividend | same day |
| 24 Nov 2023 | ₹1 | Interim | same day |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. EMS Ltd paid out 9% of its profit as dividends in FY26, and it paid a dividend in 3 of its last 7 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did EMS management say on the latest results call? On the call for April to June 2026, held on 13 August 2026, EMS' management guided: FY27 revenue ₹902-950 crore. > “By the end of this year, we would be at par with our FY25 numbers in terms of revenue, EBITDA, and PAT.”
> Ashish Tomar, Promoter & Managing Director, on the call for April to June 2026

### What management guided

- FY27 growth of at least 50% versus last year; not reconciled with the separate revenue range. - Q2 revenue 30-35% above Q1. - Q3 and Q4 revenue growth above 50% sequentially. - Operating margin 25% and profit margin 15%. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/55497/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 13 August 2026.)

## What to watch in EMS' next results? When EMS reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Near-term revenue execution versus the latest quarter - check whether rainy-season constraints still cap the uplift. - What to check (from the call)
- Near-term revenue execution versus the latest quarter - check whether rainy-season constraints still cap the uplift. - Kolkata sewerage revenue after restrictions lifted - check whether the discussed run-rate is reached from Q3. - Margin recovery toward stated goals - check operating leverage as current order-book work converts. - Working-capital cycle and government payment timing - check whether billing delays continue to restrain execution. ## Which stock lists is EMS on? EMS is not on any of our India lists this week. ## Is EMS profitable? EMS Ltd earned ₹15.0 Cr of net profit in the Jun 2026 quarter, −60.5% on the same quarter a year earlier. Full-year FY26 profit was ₹91.0 Cr. Over 6 years profit has grown 4.0% a year on average. That is 9.6% of the quarter's revenue. The same quarter a year earlier earned ₹38.0 Cr. For the full year, FY26 profit was ₹91.0 Cr (−50.5% on the year before). Why profit moved: revenue changed −34.3% on a year earlier and the margin moved −6.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed −63.6% and revenue −33.5%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does EMS make, and is it growing? EMS Ltd reported ₹157 Cr of revenue in the Jun 2026 quarter, −34.3% on the same quarter a year earlier. Over 6 years it has grown 14.4% a year on average. The last full year, FY26, came in at ₹731 Cr. The last four reported quarters add to ₹650 Cr. FY26 revenue was ₹731 Cr, −24.8% on the year before. Recent pace: the last four quarters grew −33.5% on average, against 14.4% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew −34.1%, against −13.2% a year over the last 8 quarters (rolling over); profit over the last 12 months grew −63.4%, against −36.0% a year (rolling over). ## How much of every ₹100 of sales does EMS keep? EMS Ltd's operating margin was 17.0% in the Jun 2026 quarter, 6.0 percentage points lower than the same quarter a year ago. Across 7 years it has been between 20.0% and 31.0%. The latest quarter is below every full year in that period. Why the margin moved: operating margin changed −6.1 percentage points on the year while gross margin changed +2.9 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is EMS' profit turning into cash? Over the last 3 years EMS Ltd's operations used more cash than they brought in, so cash conversion was −22%, a gap worth watching. In FY26 its operations used ₹15.0 Cr of cash, against ₹91.0 Cr of profit. After ₹74.0 Cr of spending on assets, free cash was −₹89.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −22% of profit came in as cash: the cash cycle got 230 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 230 days longer. The next section looks at where the cash is stuck. ## Where does EMS' cash go? EMS Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 333 days in FY26, up from 103 days in FY21. It spent ₹129 Cr on assets over the last 3 years. Customers take 193 days to pay, and stock sits for 163 days on average. At FY26 sales of ₹731 Cr, each day of that cycle ties up about ₹2.0 Cr, so roughly ₹667 Cr is tied up in the business at any time. FY26: customers took 193 days to pay and stock sat for 163 days, about 5.4 months of sales sitting as stock, for a full cycle of 333 days, longer than FY21's 103. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 163 days. Customers pay about 193 days after that. Suppliers are paid at 24 days. Together that makes the 333-day cycle. Spending on assets: ₹129 Cr over the last 3 years, against ₹27.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹37.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is EMS' P/E ratio, and how does it compare with its own history? EMS Ltd's P/E is 23.6×, in the middle of its own history: higher than 64% of past readings. Its usual P/E (the middle reading) is 20.9×, over 3.1 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −50.7% while the price moved −45.3%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 3 years the price moved −1.4% a year; about −14.2% a year came from earnings growth and about +12.8 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## Is the EMS business getting better or worse? EMS Ltd's business is getting worse. Revenue and profit growth are shrinking: revenue growth is −34.1% in the latest quarter, against +28.1% at its best in 12 quarters, with ROCE falling at 10.2%. This is based on 12 quarters of 3 measures, with some gaps. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does EMS earn on its capital? EMS Ltd earned a ROCE of 13% in FY26. Its return on capital used (ROIC) is 5.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 12.4% net margin and 0.55× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 12.4% net margin × 0.55× asset turnover × 1.26× leverage (assets divided by equity) ≈ 8.6% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 6.1% − 12.0% = −5.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 6.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 8.8%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does EMS have too much debt? EMS Ltd has total debt of ₹154 Cr against shareholder equity of ₹1,058 Cr as of Jun 2026, so its debt is 0.15× its equity, which is very little. Year by year, that ratio went from 0.09 in FY23 to 0.15 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the EMS shareholding pattern? Domestic institutions cut their stake in EMS Ltd by 1.1 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 0.0% of the company. Foreign institutions moved −0.3 points over the same period, to 0.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: −1.1 points over 8 quarters, to 0.0%; Foreign institutions: −0.3 points over 8 quarters, to 0.4%; Promoters: +0.0 points over 8 quarters, to 69.7%. Why the owners changed: domestic institutions drove it (−1.1 points). They reduced their stake. ## How far is EMS from balance-sheet trouble? For EMS Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does EMS rank in its industry? 31.3 out of 100, rank 6 of 8 in Infra - Engineering - General, with 81% of the evidence available. EMS Ltd scores 31.3 out of 100 against the 8 companies it is compared with in Infra - Engineering - General, ranking 6. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 7.3 + 12.8 + 3.2 + 8 = 31.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is EMS compared with? EMS ranks 6 of 8 Infra - Engineering - General companies on the 4-Factor Sector Score, with 31.3 out of 100. 1. [Engineers India Ltd](https://www.sectoralpha.in/stocks/engineers-india-ltd) ENGINERSIN · breaking out · Sector-leading setup · 100% evidence 85.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.6/35 · Revenue 6% · Profit 67.2% · Operating margin change 11 points · 100% evidence Capital efficiency 21.8/25 · ROCE 30.4% · Operating margin 21% · 100% evidence Valuation 16.5/20 · P/E 15.8× · PEG 0.54 · 100% evidence Relative strength 20.0/20 · Lead over its industry 17.7% · Lead over NIFTY 500 16% · 1 year 24.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 27.6 + 21.8 + 16.5 + 20 = 85.9 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Axtel Industries Ltd](https://www.sectoralpha.in/stocks/axtel-industries-ltd) AXTEL · breaking out · Most evidence points up · 81% evidence 71.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.9/35 · Revenue 42.1% · Profit 97.3% · Operating margin change 2.3 points · 88% evidence Capital efficiency 15.1/25 · ROCE 30% · Operating margin 7.8% · 100% evidence Valuation 15.4/20 · P/E 21.3× · PEG 0.72 · 100% evidence Relative strength 10.8/20 · Lead over its industry n/a · Lead over NIFTY 500 1.2% · 1 year -13.6% · 25% evidence · 0 of 5 weeks ahead Exact sum: 29.9 + 15.1 + 15.4 + 10.8 = 71.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [ISGEC Heavy Engineering Ltd](https://www.sectoralpha.in/stocks/isgec-heavy-engineering-ltd) ISGEC · breaking out · Evidence leans up · 96% evidence 58.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.0/35 · Revenue 19.5% · Profit 5.7% · Operating margin change -3 points · 88% evidence Capital efficiency 13.1/25 · ROCE 11.2% · Operating margin 6% · 100% evidence Valuation 7.1/20 · P/E 25.9× · PEG 1.64 · 100% evidence Relative strength 19.5/20 · Lead over its industry 10.6% · Lead over NIFTY 500 9% · 1 year 4.6% · 100% evidence · 4 of 12 weeks ahead Exact sum: 19 + 13.1 + 7.1 + 19.5 = 58.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [BGR Energy Systems Ltd](https://www.sectoralpha.in/stocks/bgr-energy-systems-ltd) BGRENERGY · turning · Too little evidence to rank firmly · 53% evidence 33.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.0/35 · Revenue -38.3% · Profit -10.9% · Operating margin change -529 points · 65% evidence Capital efficiency 0.3/25 · ROCE -26.9% · Operating margin -648% · 100% evidence Valuation 10.0/20 · P/E n/a · PEG n/a · 0% evidence Relative strength 9.2/20 · Lead over its industry n/a · Lead over NIFTY 500 -4.7% · 1 year -35.7% · 25% evidence · 2 of 12 weeks ahead Exact sum: 14 + 0.3 + 10 + 9.2 = 33.5 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 5. [Ircon International Ltd](https://www.sectoralpha.in/stocks/ircon-international-ltd) IRCON · quiet · Most evidence points down · 96% evidence 32.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.7/35 · Revenue -9.9% · Profit -22.2% · Operating margin change -1 points · 88% evidence Capital efficiency 9.8/25 · ROCE 9.3% · Operating margin 10% · 100% evidence Valuation 10.3/20 · P/E 17.4× · PEG 1.13 · 100% evidence Relative strength 0.0/20 · Lead over its industry -25.5% · Lead over NIFTY 500 -26.4% · 1 year -43% · 100% evidence · 0 of 12 weeks ahead Exact sum: 12.7 + 9.8 + 10.3 + 0 = 32.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. EMS Ltd this page EMSLIMITED · quiet · Most evidence points down · 81% evidence 31.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 7.3/35 · Revenue -34.1% · Profit -63.4% · Operating margin change -6 points · 88% evidence Capital efficiency 12.8/25 · ROCE 12.8% · Operating margin 17% · 100% evidence Valuation 3.2/20 · P/E 22.9× · PEG 2.09 · 100% evidence Relative strength 8.0/20 · Lead over its industry n/a · Lead over NIFTY 500 -18.9% · 1 year -46.8% · 25% evidence · 6 of 12 weeks ahead Exact sum: 7.3 + 12.8 + 3.2 + 8 = 31.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Bondada Engineering Ltd](https://www.sectoralpha.in/stocks/bondada-engineering-ltd) BONDADA · basing · Too little evidence to rank firmly · 50% evidence 61.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.7/35 · Revenue n/a · Profit n/a · Operating margin change -1 points · 45% evidence Capital efficiency 19.8/25 · ROCE 39.4% · Operating margin 11% · 76% evidence Valuation 15.0/20 · P/E 14× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry n/a · Lead over NIFTY 500 -10.8% · 1 year -39% · 25% evidence · 1 of 5 weeks ahead Exact sum: 17.7 + 19.8 + 15 + 8.6 = 61.1 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 8. [Artson Ltd](https://www.sectoralpha.in/stocks/artson-ltd) ARTSON · Too little evidence to rank firmly · 48% evidence 28.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 10.3/43.75 · Revenue 8.7% · Profit -80% · Operating margin change -2.9 points · 83% evidence Capital efficiency 6.1/31.25 · ROCE -14.6% · Operating margin 4.5% · 76% evidence Valuation 12.5/25 · P/E n/a · PEG n/a · 0% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 10.3 + 6.1 + 12.5 = 28.9 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Infra - Engineering - General](https://www.sectoralpha.in/sectors/infra-engineering-general), all 8 compared on one page. ## Which companies are close to EMS in size? EMS is the 6th largest of 8 Infra - Engineering - General companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Ircon International, ISGEC Heavy Engineering, Bondada Engineering and BGR Energy Systems. Just below it: Axtel Industries and Artson. ### Infra - Engineering - General companies close in size

1. [Ircon International Ltd](https://www.sectoralpha.in/stocks/ircon-international-ltd) ₹9,088 crore
2. [ISGEC Heavy Engineering Ltd](https://www.sectoralpha.in/stocks/isgec-heavy-engineering-ltd) ₹6,762 crore
3. [Bondada Engineering Ltd](https://www.sectoralpha.in/stocks/bondada-engineering-ltd) ₹2,943 crore
4. [BGR Energy Systems Ltd](https://www.sectoralpha.in/stocks/bgr-energy-systems-ltd) ₹2,034 crore
5. EMS Ltd ₹1,560 crore
6. [Axtel Industries Ltd](https://www.sectoralpha.in/stocks/axtel-industries-ltd) ₹666 crore
7. [Artson Ltd](https://www.sectoralpha.in/stocks/artson-ltd) ₹576 crore

[All 8 Infra - Engineering - General companies, largest first](https://www.sectoralpha.in/sectors/infra-engineering-general#all-companies)

### Companies close in size in other industries

1. [Indian Hume Pipe Company Ltd](https://www.sectoralpha.in/stocks/indian-hume-pipe-company-ltd) ₹1,563 crore · Cement Products
2. [NGL Fine Chem Ltd](https://www.sectoralpha.in/stocks/ngl-fine-chem-ltd) ₹1,561 crore · Pharma - Animal
3. EMS Ltd ₹1,560 crore
4. [Bharat Rasayan Ltd](https://www.sectoralpha.in/stocks/bharat-rasayan-ltd) ₹1,557 crore · Pesticides/Agrochemicals
5. [Hinduja Global Solutions Ltd](https://www.sectoralpha.in/stocks/hinduja-global-solutions-ltd) ₹1,552 crore · IT Enabled Services

## What else do people ask about EMS? ### What is EMS's share price today? EMS Ltd's share price is ₹289.15, −45.3% over the past year. The whole company is worth ₹1,605 Cr on the market. In the last 52 weeks it traded between ₹271 to ₹511; today it is 8% of the way up from the low, 23.7% below its 200-day average (as of 3 November 2026). ### What were EMS's latest quarterly results? EMS Ltd reported revenue of ₹157 Cr and net profit of ₹15.0 Cr for the Jun 2026 quarter. Revenue fell 34.3% and profit fell 60.5% compared with a year earlier. Earnings per share were ₹2.79. The operating margin was 17.0%, 6.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is EMS's market cap? EMS Ltd's market capitalisation is ₹1,605 Cr at a share price of ₹289.15. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is EMS performing? EMS Ltd's share price has been falling for 7 weeks. In its latest quarter, revenue fell 34.3% and profit fell 60.5% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 9 weeks running (as of 3 November 2026). ### Will EMS's share price go up? This page does not forecast EMS Ltd's share price. What it shows instead: the share price is ₹289.15, and it has been falling for 7 weeks. Its P/E of 23.6× is higher than 64% of its own last 3 years (as of 3 November 2026). ### Who owns EMS? Promoters own 69.7% of EMS Ltd, foreign institutions 0.4%, domestic institutions 0.0% and the public 29.8% (latest quarter). The biggest change over the last two years: Domestic institutions cut their stake by 1.1 percentage points over 8 quarters (as of 3 November 2026). ### Does EMS have too much debt? No, EMS Ltd has little debt: its debt is 0.15× its equity, and its operating profit is 9 times its interest bill. FY26 borrowings were ₹154 Cr against equity of ₹1,056 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is EMS in its business cycle? EMS Ltd's FY26 operating margin was 20.0%, against a 7-year range of 20.0% to 31.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 17.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the EMS story? Biggest thing to watch: the price is not yet in a clear uptrend, so timing is the risk more than the business. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is EMS a stock worth studying right now? What the numbers show: EMS Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: the next one or two quarters of results. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a EMS share price forecast for 2026? What management itself guided: FY27 revenue ₹902-950 crore. This is research, not advice. We’re not SEBI-registered.