BSE: 543983 | NSE: EMSLIMITED | Engineering - Construction | Small Cap
Past 10 year's financial track record analysis by Moneyworks4me indicates that EMS Ltd is a good quality company.
The key valuation ratios of EMS Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of EMS Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 42.5% | 43.4% | 36.1% | 30% | 31.8% | 32.3% | - |
| Value Creation Index ⓘ | 2.0 | 2.1 | 1.6 | 1.1 | 1.3 | 1.3 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||
| Sales ⓘ | 313 | 316 | 307 | 338 | 484 | 719 | 846 |
| Sales YoY Gr. | - | 0.9% | -2.8% | 10% | 43.4% | 48.6% | - |
| Adj EPS ⓘ | 13.3 | 15.3 | 14.9 | 16 | 21.9 | 26.2 | 30.5 |
| YoY Gr. | - | 15% | -2.9% | 7.7% | 37.2% | 19.3% | - |
| BVPS (₹) ⓘ | 34.1 | 49.4 | 64.2 | 80.1 | 102.1 | 141.3 | 156.9 |
| Adj Net Profit ⓘ | 62.5 | 71.9 | 69.8 | 75.2 | 103 | 145 | 170 |
| Cash Flow from Ops. ⓘ | 0 | 36.8 | 20.7 | 17.4 | 23.1 | -72.9 | - |
| Debt/CF from Ops. ⓘ | 0 | 0.5 | 0.1 | 2.4 | 0 | -0 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 18.1% | 32.8% | 48.6% | ||||
| Adj EPS ⓘ | NA | 14.5% | 20.8% | 19.3% | ||||
| BVPSⓘ | NA | 32.9% | 30.1% | 38.4% | ||||
| Share Price | - | - | - | 71% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 39.1 | 36.7 | 26.2 | 22.2 | 24.1 | 23 | 20.5 |
| Op. Profit Mgn % ⓘ | 27.5 | 30 | 31 | 31.4 | 29 | 27.1 | 26.9 |
| Net Profit Mgn % ⓘ | 20 | 22.8 | 22.8 | 22.3 | 21.3 | 20.2 | 20 |
| Debt to Equity ⓘ | 0.3 | 0.1 | 0 | 0.1 | 0 | 0 | 0 |
| Working Cap Days ⓘ | 0 | 200 | 249 | 321 | 290 | 267 | 114 |
| Cash Conv. Cycle ⓘ | 0 | 19 | 60 | 107 | 130 | 138 | 101 |
Sales growth is growing at healthy rate in last 3 years 32.83%
Net Profit is growing at healthy rate in last 3 years 20.79%
Sales growth is good in last 4 quarters at 41.60%
Return on Equity has declined versus last 3 years average to 20.50%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 30.5 | 30.9 |
| TTM Sales (₹ Cr.) | 846 | 885 |
| BVPS (₹.) ⓘ | 156.9 | 159.3 |
| Reserves (₹ Cr.) ⓘ | 816 | 829 |
| P/BV ⓘ | 4.75 | 4.68 |
| PE ⓘ | 24.43 | 24.15 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 353.40 / 935.00 |
| All Time Low / High (₹) | 246.50 / 935.00 |
| Market Cap (₹ Cr.) | 4,142 |
| Equity (₹ Cr.) | 55.5 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 35.9 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Sales | 313 | 316 | 307 | 338 | 484 | 719 |
| Operating Expenses ⓘ | 227 | 221 | 212 | 232 | 344 | 525 |
| Manufacturing Costs | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 220 | 211 | 200 | 218 | 317 | 490 |
| Employee Cost | 1 | 2 | 1 | 9 | 18 | 25 |
| Other Costs ⓘ | 5 | 7 | 10 | 5 | 9 | 10 |
| Operating Profit ⓘ | 86 | 95 | 95 | 106 | 140 | 195 |
| Operating Profit Margin (%) | 27.5% | 30.0% | 31.0% | 31.4% | 29.0% | 27.1% |
| Other Income ⓘ | 5 | 7 | 5 | 4 | 5 | 15 |
| Interest ⓘ | 3 | 3 | 4 | 6 | 3 | 2 |
| Depreciation ⓘ | 1 | 1 | 1 | 2 | 2 | 5 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax ⓘ | 88 | 97 | 95 | 102 | 140 | 203 |
| Tax ⓘ | 25 | 26 | 25 | 27 | 37 | 53 |
| Profit After Tax | 63 | 72 | 70 | 75 | 103 | 150 |
| PAT Margin (%) | 20.0% | 22.8% | 22.7% | 22.3% | 21.3% | 20.8% |
| Adjusted EPS (₹) | 13.3 | 15.3 | 14.9 | 16.0 | 22.0 | 27.0 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 7% |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 160 | 232 | 302 | 376 | 480 | 785 | ||||
| Share Capital ⓘ | 12 | 12 | 12 | 12 | 47 | 56 | ||||
| Reserves ⓘ | 148 | 220 | 290 | 365 | 433 | 729 | ||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | ||||
| Debt | 17 | 11 | 1 | 2 | 0 | 1 | ||||
| Long Term Debt | 14 | 11 | 1 | 2 | 0 | 1 | ||||
| Short Term Debt | 2 | 0 | 0 | 0 | 0 | 0 | ||||
| Trade Payables | 37 | 37 | 32 | 40 | 14 | 7 | ||||
| Others Liabilities ⓘ | 69 | 44 | 37 | 68 | 59 | 61 | ||||
| Total Liabilities ⓘ | 283 | 324 | 372 | 486 | 553 | 854 | ||||
Fixed Assets | ||||||||||
| Gross Block | 8 | 34 | 40 | 34 | 37 | 69 | ||||
| Accumulated Depreciation | 4 | 5 | 6 | 7 | 8 | 13 | ||||
| Net Fixed Assetsⓘ | 4 | 29 | 34 | 26 | 29 | 56 | ||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 4 | 0 | ||||
| Investmentsⓘ | 2 | 3 | 4 | 10 | 10 | 19 | ||||
| Inventories | 26 | 43 | 35 | 51 | 102 | 89 | ||||
| Trade Receivables | 36 | 36 | 91 | 127 | 142 | 238 | ||||
| Cash Equivalents | 122 | 101 | 101 | 82 | 92 | 114 | ||||
| Others Assetsⓘ | 93 | 112 | 106 | 190 | 173 | 337 | ||||
| Total Assets ⓘ | 283 | 324 | 372 | 486 | 553 | 854 | ||||
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 0 | 37 | 21 | 17 | 23 | -73 |
| PBT ⓘ | 0 | 97 | 95 | 102 | 140 | 203 |
| Adjustment ⓘ | 0 | -1 | 0 | 4 | 0 | -10 |
| Changes in Working Capital ⓘ | 0 | -59 | -74 | -89 | -76 | -223 |
| Tax Paid ⓘ | 0 | 0 | 0 | -1 | -40 | -42 |
| Cash Flow From Investing Activity ⓘ | 0 | -22 | -2 | -6 | -19 | -69 |
| Capex | 0 | -26 | -6 | -1 | -8 | -22 |
| Net Investments | 0 | -1 | -1 | -8 | -14 | -31 |
| Others ⓘ | 0 | 5 | 5 | 3 | 2 | -15 |
| Cash Flow From Financing Activityⓘ | 0 | -36 | -19 | -5 | -4 | 156 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 163 |
| Net Proceeds from Borrowing ⓘ | 0 | -36 | 0 | 1 | -1 | 1 |
| Interest Paid ⓘ | 0 | -3 | -4 | -6 | -3 | -2 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | -6 |
| Others ⓘ | 0 | 3 | -15 | 0 | 0 | 0 |
| Net Cash Flow ⓘ | 0 | -21 | 0 | 7 | 0 | 14 |
| PARTICULARS | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 39.06 | 36.66 | 26.16 | 22.16 | 24.1 | 23.72 | ||||
| ROCE (%) | 42.46 | 43.39 | 36.06 | 30 | 31.81 | 32.34 | ||||
| Asset Turnover Ratio | 1.11 | 1.04 | 0.89 | 0.79 | 0.93 | 1.02 | ||||
| PAT to CFO Conversion(x) | 0 | 0.51 | 0.3 | 0.23 | 0.22 | -0.49 | Working Capital Days | |||
| Receivable Days | 42 | 42 | 75 | 118 | 101 | 97 | ||||
| Inventory Days | 31 | 40 | 46 | 47 | 58 | 48 | ||||
| Payable Days | 62 | 64 | 63 | 61 | 31 | 8 | ||||
EMS was originally incorporated as ‘EMS Infracon Private Limited’ a private limited company under the Companies Act, 1956 at Delhi, pursuant to a certificate of incorporation dated December 21, 2010 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Thereafter on June 30, 2012, the company took over the business of partnership firm, M/s Satish Kumar. Thereafter, name of the company was changed from ‘EMS Infracon Private Limited’ to ‘EMS Private Limited’, pursuant to a special resolution passed by the shareholders of the company on September 30, 2022 and a fresh certificate of incorporation consequent to change of name was issued by the Registrar of Companies, Delhi (RoC) on October 26, 2022. Subsequently, the company was converted from private to public company, pursuant to a special resolution passed by the shareholders of the company on October 27, 2022 and a fresh certificate of incorporation consequent to change of name was issued by the Registrar of Companies, Delhi (RoC) on November 25, 2022.
The company is in the business of Sewerage solution provider, Water Supply System, 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 supply of water (collectively, ‘Projects’). The treatment process installed at STPs and CETPs is compliant with 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.
It has an in-house team for designing, engineering and construction which makes it self-reliant on all aspects of its business. It has a team of many engineers who are supported by third-party consultants and industry experts to ensure compliance and quality standards laid down by the industry and government agencies & departments. It also have its own team for civil construction works thereby reducing dependence on third parties. The scope of its services typically includes design and engineering of the projects, procurement of raw materials, and execution at site with overall project management up to the commissioning of projects. Post commissioning, operations and maintenance of these plants for a certain period of time is generally a part of the award in recent times. It has a team of dedicated engineers and personnel focused on operations and maintenance of completed projects.
Business area of the company
The company is in the business of Sewerage solution provider, Water Supply System, Water and Waste Treatment Plants, Electrical Transmission and Distribution, Road and Allied works, operation and maintenance of Wastewater Scheme Projects and Water Supply Scheme Projects for government authorities/bodies.
Services of the company
History and millstones
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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