EMS Limited has filed the notice convening its 16th Annual General Meeting along with its Integrated Annual Report for FY26, disclosing a sharp decline in consolidated revenue to ₹73,274.72 lakhs from ₹97,249.19 lakhs in the previous year.

The company also issued a communication on September 1, 2026, providing weblinks and QR codes for members to access the annual report and AGM notice, pursuant to Regulation 36(1)(b) of the SEBI Listing Regulations. This ensures members without registered email addresses with Depository Participants can access the documents electronically via the investor section of the company website or the direct PDF link provided.

The AGM is scheduled for Saturday, September 26, 2026, at 12:00 pm via Video Conferencing or Other Audio Visual Means. The record date for the final dividend of ₹1.50 per equity share (15% on face value of ₹10) has been fixed as Saturday, September 19, 2026, subject to shareholder approval at the AGM. The dividend payout would involve a cash outflow of ₹8.33 crore, representing 9.41% of standalone net profit.

FY26 Financial Performance

The company's financial performance was impacted by project execution delays, a transition to a new government payment mechanism, and unusually heavy rainfall in certain regions, particularly Uttarakhand. These factors led to a significant build-up in work-in-progress inventory as milestone-based billing could not be completed within the financial year.

The following table summarises the standalone and consolidated financial performance for FY26 versus FY25:

On a standalone basis, revenue from construction contracts stood at ₹60,377.91 lakhs, operation and maintenance contracts at ₹387.19 lakhs, and manufacturing at ₹2.92 lakhs. The standalone debt-to-equity ratio rose to 0.074 from 0.014, reflecting increased borrowings during the year.

Key Corporate Dates

Members attending the AGM who have not cast their vote by remote e-voting shall be eligible to cast their vote through e-voting during the meeting. The remote e-voting module will be disabled by NSDL after the specified deadline.

AGM Agenda and Governance

The ordinary business at the AGM includes adoption of audited financial statements, declaration of the final dividend, and re-appointment of Shri Ramveer Singh (DIN: 02260129), Chairman and Director, who retires by rotation. Special business includes ratification of the remuneration of M/s Jatin Sharma & Co., Cost Accountants (FRN: 101845), as cost auditors for FY27 at a remuneration of ₹1,00,000, and approval for the company to charge fees for document delivery through specific modes as requested by shareholders.

The Board appointed M/s Sakshi Sharma and Associates, Chartered Accountants (FRN: 035088C), as internal auditors for FY27. Statutory auditor M/s Ajay K. Kapoor & Company, Chartered Accountants (FRN: 013788N), issued an unmodified opinion on the standalone financial statements. A remark on audit trail was noted in the consolidated report for certain subsidiaries.

CRISIL rated the company's long-term instruments at Crisil A-/Stable and short-term instruments at Crisil A2+.

Order Book and Post-March Developments

EMS Limited reported sustained order inflows after March 2026, winning orders worth more than ₹1,000 crore. Key awards include:

The company's closing order book stood at ₹2,08,038 lakhs as at March 31, 2026, up from ₹1,71,100 lakhs at the start of the year. The total order book (including O&M) exceeds Rs. 2,500 crore.

Company Overview

EMS Limited is an ISO 9001:2015 certified multi-disciplinary EPC company specialising in water and wastewater treatment, sewerage networks, water supply systems, power transmission and distribution, and building construction. The company operates across 7 states with a workforce of 620+ employees, including 140+ engineers, and has treated over 600 billion litres of sewage. As at March 31, 2026, the company had 624 permanent employees and total assets of ₹1,21,863.33 lakhs on a standalone basis.

EMS Limited filed its Business Responsibility and Sustainability Report (BRSR) for FY26 with the BSE and NSE on September 1, 2026. The disclosure covers standalone performance across environmental, social, and governance parameters.

The infrastructure firm reported a turnover of ₹60,810.21 lakh and a net worth of ₹1,03,872.53 lakh for the period. Operations remain concentrated in water supply and sewerage services, which contributed 63.51% of total turnover, while construction activities accounted for 36.42%.

What the Numbers Show

A notable shift in related-party transactions is visible in the filing. Sales to related parties rose sharply from 9.00% of total sales in FY25 to 22.00% in FY26. Conversely, purchases from related parties declined from 7.00% to 6.00%. This divergence suggests a heavier reliance on internal group entities for revenue generation during the current fiscal year.

Environmental Metrics

The company disclosed significant energy consumption figures for FY26. Total energy consumed stood at 2,94,69,745.07 megajoules, up from 2,67,22,351.78 megajoules in FY25. This increase drove energy intensity per rupee of turnover to 0.004846 MJ/Rs, compared to 0.002841 MJ/Rs in the prior year.

Greenhouse gas emissions also saw movement. Scope 1 emissions totaled 3,158.67 metric tonnes of CO2 equivalent, slightly higher than the 3,124.22 metric tonnes recorded in FY25. Scope 2 emissions were minimal at 52.65 metric tonnes. The entity noted it does not currently have projects specifically aimed at reducing GHG emissions but plans to explore sustainable initiatives.

Social and Governance

On the social front, EMS Limited reported a permanent employee count of 624, with 98.08% being male. The turnover rate for permanent employees was 31.13% in FY26, an increase from 28.46% in FY25. Safety records remained clean, with zero lost-time injuries or fatalities reported for both employees and workers.

Corporate Social Responsibility (CSR) spending exceeded statutory obligations. The company spent ₹701.34 lakh on education and healthcare initiatives in FY25. This excess amount was settled off against the FY26 CSR obligation of ₹393.99 lakh, as approved by the Board.