What work does this contract cover?

The scope includes surveying, design, and turnkey construction of sewer networks and household connections across 18 wards in Varanasi. The project has a 24-month execution timeline.

How significant is this order for EMS?

The ₹102.85 crore contract represents approximately 14% of the company's projected FY2026 revenue and 6.36% of its ₹1,616 crore market capitalisation.

No. L-1 bidder status is preliminary. The award is subject to formal contract execution by UP Jal Nigam, which is not yet complete.

What is the contract value?

The project is valued at ₹102.85 crore, excluding tax.

Water Management · Small cap

EMS is lowest bidder for ₹102.85 cr Varanasi sewer contract

The UP Jal Nigam award is 14% of EMS's FY26 revenue, but the contract isn't signed yet.

— 3 earlier stories on EMS Ltd. →

EMSLIMITED By Tipsheet Editorial 6 Jun 2026 · 7:06 PM IST Verify on BSE · NSE

Mkt cap₹1,615 cr

P/E17.84×

ROE18.81%

Debt / eq.0.09

Div yld0.52%

₹102.85 cr Contract value, excluding tax, for sewer networks across 18 wards.

What's new

EMS secured L-1 status from UP Jal Nigam for a sewer project in Varanasi.
The contract covers survey, design, and construction for 18 wards over 24 months.
The award equals 14% of EMS's projected FY26 revenue.

Why this matters

For a micro-cap, a single order worth 14% of annual sales is material. It provides two years of revenue visibility. The catch is that L-1 status is preliminary; the award becomes binding only after a formal contract is executed.

What we're watching

Formal contract execution by UP Jal Nigam.
Integration of the award into EMS's official order book.
Execution pace over the 24-month period.

The full read

EMS has emerged the lowest bidder on a ₹102.85 crore sewer project from UP Jal Nigam for Varanasi. The work covers 18 wards and includes survey, design, and household connections, with a 24-month execution window. For a micro-cap infrastructure firm, that contract equals about 14% of projected FY26 revenue and 6.36% of its ₹1,616 crore market capitalisation. It is a significant chunk of work and strengthens order-book visibility for the next two years. But L-1 status is not a signed contract. The bid must still be formally executed by the Jal Nigam.

Questions answered

What work does this contract cover?: The scope includes surveying, design, and turnkey construction of sewer networks and household connections across 18 wards in Varanasi. The project has a 24-month execution timeline.
How significant is this order for EMS?: The ₹102.85 crore contract represents approximately 14% of the company's projected FY2026 revenue and 6.36% of its ₹1,616 crore market capitalisation.
Is the award final?: No. L-1 bidder status is preliminary. The award is subject to formal contract execution by UP Jal Nigam, which is not yet complete.
What is the contract value?: The project is valued at ₹102.85 crore, excluding tax.

Mentioned: UP Jal Nigam · ₹102.85 cr · Varanasi

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 →

6 Jun 2026 · 7:06 PM IST EMS is lowest bidder for ₹102.85 cr Varanasi sewer contract
3d ago EMS Ltd. details project delays and payment snags behind weak Q4 results
8d ago EMS revenue drops 25% in FY26. Chairman gives up ₹50L monthly salary.
8d ago EMS Ltd revenue drops 25% as chairman gives up ₹60 lakh in annual pay