EMS Limited | Globe Capital Market LTD.
EMS Limited
Price Band
₹200 to ₹211 per share
IPO Issue Period
Sep 8, 2023 to Sep 12, 2023
Issue Size
₹321.24 Cr
Face value
₹10 per share
Fresh issue
₹146.24 Cr
Offer for sale
₹175.00 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Kfin Technologies Limited
Tentative Listing Date
Thursday, September 21, 2023

Khambatta Securities Limited

EMS Ltd. (EMSL) is in the business of Sewerage solution providers, Water Supply Systems, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Wastewater Scheme Projects (WWSPs) and Water Supply Scheme Projects (WSSPs) for government authorities/bodies. WWSPs include Sewage Treatment Plants (STPs) along with Sewage Network Schemes and Common Effluent Treatment Plants (CETPs) and WSSPs include Water Treatment Plants (WTPs) along with pumping stations and laying of pipelines for the supply of water (collectively, “Projects”). The treatment process installed at STPs and CETPs is compliant with the Ministry of Environment, Forest and Climate Change of India norms and the treated water can be used for horticulture, washing, refrigeration and other process industries. EMS Limited has its own civil construction team and employs over 57 engineers, supported by third-party consultants and industry experts.

As on March 24, 2023, EMS is operating and maintaining 13 projects including WWSPs, WSSPs, STPs & HAM as of February 28, 2023, spread across five states.

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 543.28 363.10 336.18
Profit After Tax 108.67 78.93 71.91
EPS 23.15 62.27 61.24
OPM (%) 27.03% 29.60% 29.21%
PATM (%) 20.00% 21.74% 21.39%


  • In house designing, engineering and execution team;
  • Strong order book of projects across India;
  • Strong execution capabilities with industry experience and established track record;
  • Experienced Promoters and Management Team
  • Strong Financial Performance for the last 3 years
  • Funding of working capital requirements of the company; and
  • General corporate purposes.
  • The company has orders worth Rs. 1845 cr. on hand and many in pipelines. According to the management, the company is growing mode now. Investors may consider parking funds for short to long-term rewards in this lucratively priced issue.
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