EMS Limited (EMSLIMITED) fair value: what the stock is really worth
As of Nov 9, 2026: fair value (intrinsic value) of EMS Limited stock ₹293, price ₹309, that is 5.1% below the price, quality 37 out of 100. Rating: fairly valued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
38‑month range ₹247.11 – ₹968.56 · fair‑value band ₹220.09 – ₹366.81 · the ₹309.10 price screens above the ₹293.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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EMS Limited constructs, designs, and installs water, wastewater, and domestic waste treatment facilities in India.
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It provides electrical transmission and distribution, road and allied works, operation and maintenance of water and wastewater treatment plants, and water supply scheme projects for government authorities.
The company also offers turnkey services in water and wastewater collection, treatment, disposal, and manufactures own items which are used for construction purposes. EMS Limited was founded in 1998 and is based in Ghaziabad, India.
Stock analysis
EMS Limited (EMSLIMITED) currently trades at ₹309.10, while our model-based Fair Value estimate is ₹293.45, so the stock looks roughly fairly valued today (gap 5.3%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹360.81 per share, and 4 of the 16 models we run sit above the ₹309.10 price.
Bear case: the Asset-Based group reads lowest at ₹96.71, and 12 of the 16 models stay below the price. Data coverage for this calculation is high.
Scenario range: ₹220.09 (bear) to ₹366.81 (bull), the price of ₹309.10 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 37/100 (below-average quality), in the Industrials sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
EMS Limited reported revenue of ₹7.3B in FY2026 versus ₹3.6B in FY2022, a compound +19.5%/yr. Reported net income was ₹905M in FY2026, compounding +3.5%/yr from FY2022.
Key figures
Market cap ₹17.2B (≈ $183M) Micro · P/E ratio 25.4 · P/S ratio 2.64 · EPS (TTM) ₹12.17 · Dividend yield 0.5% · Net margin 10.5% · Return on equity 9.0% · Return on assets (EBIT) 19.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 49 out of 100 (low confidence).
What moves the price
The share trades about 37% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −31% fair-value upside, at −5%, EMSLIMITED screens cheaper than that median.
Fair Value models
Bear₹220.09Fair Value ₹293.45Bull₹366.81
Price ₹309.10 · Downside -5.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹6.58 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−24.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.8%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+17.2%
Start year 2021 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.5%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.8%
Dividend (yield on the price)0.5%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.30% → 18%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 823 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score37 · Bottom 25%
Fair Value upside−5.1% · Below median
Profitability
Return on equity (12 months)9.0% · Above median
Return on assets6.8% · Top 25%
Net margin (12 months)10.5% · Top 25%
Operating margin (12 months)15.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−34.2% · Bottom 25%
Dividend yield (12 months)0.5% · Bottom 25%
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "EMS Limited Fair Value". https://www.fairvalue-calculator.com/stock/EMSLIMITED
Frequently asked questions
Is EMS Limited (EMSLIMITED) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ₹293.45 versus a price of ₹309.10, about 5% lower (fairly valued).
What is the fair value of EMSLIMITED?
Our model-based fair value for EMS Limited is ₹293.45 (as of Nov 6, 2026), built from audited fundamentals. The current price: ₹309.10.
What is the quality score of EMSLIMITED?
EMS Limited has a Quality Score of 37/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for EMS Limited (EMSLIMITED)?
Our model-based price target is the fair value of ₹293.45 (as of Nov 6, 2026) from 16 valuation models. Cautious scenario ₹220.09, optimistic scenario ₹366.81. It is a calculation from audited fundamentals, not an analyst target.
What is the EMS Limited stock forecast for 2026?
Our models put fair value at ₹293.45, about 5% lower versus a price of ₹309.10 (fairly valued). Cautious scenario ₹220.09, optimistic scenario ₹366.81. The calculation is refreshed regularly with new filings.
What is the revenue of EMS Limited (EMSLIMITED)?
EMS Limited reported trailing-twelve-month revenue of about ₹6.5B (latest available figure, as of Nov 6, 2026).
Does EMS Limited pay a dividend?
EMS Limited currently shows a dividend yield of 0.49% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of EMS Limited (EMSLIMITED) and when is the ex-dividend date?
EMS Limited pays a dividend of ₹1.50 per share a year, a dividend yield of 0.5%. The last ex-dividend date was Sep 18, 2026. The payout ratio is 12.3% of earnings. Our assessment: Token dividend. At a yield of 0.5% the dividend is symbolic. On paper it is not fully covered by earnings or free cash flow, but at this size that hardly matters: even scrapping it entirely would cost less than 0.5% a year, and coverage ratios on amounts this small swing with ordinary working-capital movements. Judge this company on its business, not on its dividend.
What is the intrinsic value of EMS Limited (EMSLIMITED)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For EMS Limited it is ₹293.45 per share (as of Nov 6, 2026), against a price of ₹309.10. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is EMS Limited stock overvalued or undervalued in 2026?
As of Nov 6, 2026, EMSLIMITED trades above its calculated fair value: price ₹309.10, fair value ₹293.45, a gap of about −5% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EMSLIMITED?
No. The price is what the market pays today (₹309.10); the fair value is what the company's own numbers justify (₹293.45). For EMS Limited the two are ₹15.65 per share apart. That gap is exactly why we show both numbers side by side.
How much is EMS Limited worth?
The market values EMS Limited at about ₹17.2B (market capitalisation, as of Nov 6, 2026). Per share that is ₹309.10; our models calculate a fair value of ₹293.45 per share.
What do the bullish and bearish scenarios say about EMSLIMITED?
Our models span a range for EMS Limited: cautious scenario ₹220.09, base ₹293.45, optimistic ₹366.81 per share (as of Nov 6, 2026, price ₹309.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EMSLIMITED?
EMS Limited trades at a price-to-earnings ratio of 25.4 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹293.45 is built from several models across several years. Other multiples: P/B 1.6, P/S 2.6, EV/EBITDA 15.6.
How solid is the balance sheet of EMS Limited (EMSLIMITED)?
Balance-sheet figures for EMS Limited (as of Nov 6, 2026): return on equity 9.0%, debt of 0.10 per unit of equity. They feed the Quality Score of 37/100, which measures business quality independently of the share price.
How far is EMSLIMITED from its 52-week high?
EMS Limited trades at ₹309.10, about 37% below its 52-week high of ₹488.60 and 20% above the low of ₹257.75 (as of Nov 9, 2026). Distance from the high says nothing about value: that is what the fair value of ₹293.45 is for.
Which stocks are comparable to EMS Limited?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Larsen & Toubro Limited, Comfort Systems USA, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is EMS Limited stock attractive at the current price?
The data as of Nov 6, 2026: price ₹309.10, calculated fair value ₹293.45 (−5%), Quality Score 37/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EMSLIMITED calculated?
We run EMS Limited through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of ₹293.45 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.1% above its aggregate fair value. EMS Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of EMS Limited (EMSLIMITED)?
The closing price on Nov 9, 2026 was ₹309.10. Our model-based fair value is ₹293.45, about 5% lower (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with EMS Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. The price sits in the upper half of our model range, so the margin of safety is thin. The data supports the verdict: every model runs on fully documented inputs.
Key figures of EMS Limited
How large is the market capitalisation of EMS Limited (EMSLIMITED)?
The market capitalisation of EMS Limited is ₹17.2B (≈ $183M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of EMS Limited (EMSLIMITED)?
The price-to-sales ratio of EMS Limited is 2.64 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of EMS Limited (EMSLIMITED)?
Earnings per share at EMS Limited are ₹12.17 (price ÷ EPS = P/E 25.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of EMS Limited (EMSLIMITED)?
The dividend yield of EMS Limited is 0.5% (payout 12.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of EMS Limited (EMSLIMITED)?
The net margin of EMS Limited is 10.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of EMS Limited (EMSLIMITED)?
The return on equity (ROE) of EMS Limited is 9.0% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of EMS Limited (EMSLIMITED)?
On an EBIT basis the return on assets of EMS Limited is 19.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of EMS Limited (EMSLIMITED)?
The operating margin of EMS Limited is 15.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at EMS Limited (EMSLIMITED)?
Revenue at EMS Limited is growing −34.2% versus a year earlier (3y avg +10.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at EMS Limited (EMSLIMITED)?
Earnings per share at EMS Limited are growing −59.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does EMS Limited (EMSLIMITED) generate?
The free cash flow of EMS Limited is −₹1.4B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does EMS Limited (EMSLIMITED) carry?
The net debt of EMS Limited is ₹953M (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026