How big is the order relative to EMS's FY26 revenue?

The ₹158.29 cr order is about 21.6% of EMS's FY26 revenue of ₹732.7 cr.

What is the current status of the order?

EMS is the L-1 bidder, which is preliminary. The final letter of award from Delhi Jal Board is pending.

Does EMS have any related-party interest in Delhi Jal Board?

No, the company has stated it has no related-party interest in the awarding entity.

How does this compare to the recent Varanasi order?

This order is larger (₹158 cr vs ₹102 cr) and is also for sewerage infrastructure, won earlier in June 2026.

What were EMS's recent financial challenges?

FY26 revenue fell 25% to ₹732.7 cr, PAT dropped sharply, and the chairman voluntarily gave up his ₹50L monthly salary.

Water Management · Small cap

EMS emerges L-1 for ₹158 cr Delhi Jal Board sewerage project

Order worth 21.6% of FY26 revenue, second large L-1 win in a month. Final award pending.

— 4 earlier stories on EMS Ltd. →

EMSLIMITED By Tipsheet Editorial 7 Jul 2026 · 4:21 PM IST Verify on BSE · NSE

Mkt cap₹2,332 cr

P/E25.76×

ROE18.81%

Debt / eq.0.09

Div yld0.37%

₹158.29 cr Estimated L-1 order value for Delhi Jal Board sewerage project.

What's new

EMS is L-1 bidder for Delhi Jal Board sewerage project worth ₹158.29 cr (incl. GST).
Contract involves laying sewer lines in Tikri Kalan over 15 months.
Second large order in a month, after a ₹102 cr Varanasi contract.

Why this matters

After a tough FY26 where revenue dropped 25% and the chairman took a salary cut, two order wins in a month signal a potential turnaround. But preliminary L-1 status and past execution delays mean finalisation and delivery are the real tests.

What we're watching

Final letter of award from Delhi Jal Board.
Execution progress on the recent Varanasi order.
Impact on FY27 revenue guidance after a weak FY26.

The full read

A second L-1 win in a month. This time it is a ₹158.29 crore sewerage project from Delhi Jal Board, roughly 21.6% of EMS's FY26 revenue of ₹732.7 crore — a year when revenue shrank a quarter and the chairman gave up his salary. The Varanasi order earlier in June was ₹102.85 crore. Two wins suggest EMS is rebuilding its order book in water infrastructure. But the Q4 concall flagged project delays and payment issues, so execution will be the real test. The L-1 status is preliminary; the final award has not come through yet. The open question is whether EMS can convert and deliver.

Questions answered

How big is the order relative to EMS's FY26 revenue?: The ₹158.29 cr order is about 21.6% of EMS's FY26 revenue of ₹732.7 cr.
What is the current status of the order?: EMS is the L-1 bidder, which is preliminary. The final letter of award from Delhi Jal Board is pending.
Does EMS have any related-party interest in Delhi Jal Board?: No, the company has stated it has no related-party interest in the awarding entity.
How does this compare to the recent Varanasi order?: This order is larger (₹158 cr vs ₹102 cr) and is also for sewerage infrastructure, won earlier in June 2026.
What were EMS's recent financial challenges?: FY26 revenue fell 25% to ₹732.7 cr, PAT dropped sharply, and the chairman voluntarily gave up his ₹50L monthly salary.

Mentioned: Delhi Jal Board · ₹158.29 cr · Tikri Kalan

Primary source BSE · NSE

An independent reading of the company's own disclosure — the primary filing above is the final word.

Story so far

All notes on EMSLIMITED →

7 Jul 2026 · 4:21 PM IST EMS emerges L-1 for ₹158 cr Delhi Jal Board sewerage project
34d ago EMS is lowest bidder for ₹102.85 cr Varanasi sewer contract
37d ago EMS Ltd. details project delays and payment snags behind weak Q4 results
42d ago EMS revenue drops 25% in FY26. Chairman gives up ₹50L monthly salary.
42d ago EMS Ltd revenue drops 25% as chairman gives up ₹60 lakh in annual pay