Transcript of Earnings Conference Call held on August 13, 2026 for quarter ended June 30, 2026

August 19, 2026 BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited Dalal Street, Exchange Plaza, C-1, Block-G Mumbai- 400 001 Bandra Kurla Complex, Bandra (E) Mumbai- 400 051 Scrip Code: 543983 NSE Symbol: EMSLIMITED Sub: Transcript for Earnings conference call with investors and analysts- Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Dear Sir/Madam, This is with reference to our earlier intimation dated August 06th, 2026, filed with the stock exchanges in terms of Regulation 30 of the SEBI Listing Regulations, 2015 regarding the earnings conference call to discuss the Unaudited Standalone and Consolidated financial results for the quarter ended June 30, 2026, scheduled on Thursday, August 13, 2026. Pursuant to Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 we are enclosing herewith the Transcript of Earnings conference call with various investors and analysts held on Thursday i.e. August 13, 2026. The Transcripts of Earnings conference call is also available on the Company’s Website i.e. www.ems.co.in Kindly take the above information on your records. Thanking you, Yours faithfully, For EMS Limited Ashish Tomar Managing Director and CFO DIN: 03170943 Encl: As Above EMS Limited Q1 FY’27 Earnings Conference Call August 13, 2026 Moderator: Good afternoon, ladies and gentlemen and welcome to the Earnings Call of Q1 FY’27 for EMS Limited. As a reminder, all participant lines will be in listen-only mode. There will be an opportunity for you to ask questions after the management discussion concludes. Should you need assistance during the conference call, please signal an operator by pressing “*” followed by “0” on your touchtone phone. EMS Limited was incorporated in 2010 by Mr. Ramveer Singh and Mr. Ashish Tomar, and is involved in 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 waste water scheme projects and water supply scheme projects for government authorities and bodies. Let us now begin with the introduction of the Management Team: We have with us today Mr. Ashish Tomar - Promoter and Managing Director of the company. Also joining us today is Mr. H.K. Kansal - Chief Executive Officer. I would now like to request Mr. Ashish Tomar – Promoter and Managing Director to give his opening remarks. Over to you sir. Ashish Tomar: Good afternoon, everyone. I welcome you all to the earnings conference call of EMS Limited for the quarter ending on 30th June 2026. As we have already uploaded the results of the last quarter, I am sure you are aware for which our operating income stood at Rs. 125.72 crores on stand-alone basis, which was a net increase of about 50% over the last quarter. EBITDA grew to 25.53% with an increase of about 39.81% with respect to the last quarter. And PAT stands at Rs. 15.03 crores which increased by about 184.65% with respect to last quarter. As far as numbers on consolidated basis are concerned, operating income stands at Rs. 157.24 crores with an increase of about 30%. EBITDA stands at Rs. 28.14 crores with an increase of about 31.62%. And PAT stands at Rs. 15.49 crores with an increase of about 1.28%. Apart from Page 1 of 9 this, the company has secured work orders roughly to the value of Rs. 317 crores in that quarter. And we are hopeful of securing much more projects in the coming quarters also. Now, that would be all from my side. I am joined by Mr. H.K. Kansal, our CEO. And I think we can start by answering queries further and we can take any doubts if there are any. Moderator: Thank you, sir. We will now begin the question-and-answer session. The first question comes from the line of Daksh Prashar with Desvelado Research. Please go ahead. Daksh Prashar: I just have a bunch of questions. On the West Bengal project, as it was impacted by the election- related restrictions, with those restrictions now behind you, has execution reached the 72 crores to 80 crores run rate. And when can we expect it to return to its original execution? Ashish Tomar: Can you please repeat the question? I think there were some disturbances. Moderator: Mr. Daksh, you are not audible. Could you please come closer to the mic and speak? Daksh Prashar: Yes, am I audible now? Moderator: Also, can you please use your handset, sir? Daksh Prashar: I am audible now, sir. Ashish Tomar: Yes, but your voice is faint. Okay, please ask the question. We will try to answer. Daksh Prashar: On the West Bengal project, as it was impacted by the election-related restrictions, with those restrictions now behind you, has execution reached the Rs. 70 crore to Rs. 80 crore for the year ended? And when can we expect it to return to its original execution, sir? That is my question. Ashish Tomar: Yes. So, now the restrictions have already been lifted. And the rate at which you are asking for the execution, I think that will only be achieved from Quarter 3. Because it is a sewerage network project. So, in Quarter 2 also, that revenue cannot be achieved in sewer line projects. But Q3 and Q4 numbers with regard to the Kolkata project would be much better than what you are anticipating. Daksh Prashar: Okay, right sir. And, sir, I just had one other question. You had highlighted a Rs. 2500 crore to Rs. 3000 crore bidding pipeline across Delhi and Maharashtra. Could you give us an update on how much has this progressed to the award stage and how much of this pipeline do you expect to convert into orders? Ashish Tomar: As far as the 1st Quarter is concerned, we converted these bids to work orders of about Rs. 317 crores. And after that also, till date, in the 2nd Quarter, we have received a work order of about Rs. 158 crores. And we are L1 for a project in Banaras of about excess of Rs. 100 crores. So, I Page 2 of 9 think there is still some time left for the completion of this quarter. And we hope to convert a large number of projects into work orders in the coming time. Daksh Prashar: Okay. All right, sir. Thank you for answering my questions. Moderator: Thank you. The next question comes from the line of Sanjay with Shah Associates. Please go ahead. Sanjay: Sir, my question is, do we plan to expand our work to any other states? Ashish Tomar: Sir, we are continuing to bid in other states also. So, we are bidding in Bihar and Madhya Pradesh. And any projects that we see, we are exploring some projects in Maharashtra and Karnataka also. Sanjay: Okay. And what is our order book? Sir, size of order book? Ashish Tomar: It is Rs. 2329 crores as of now. Sanjay: Okay. As of July’26? Ashish Tomar: Sorry? Sanjay: As of July’26? Ashish Tomar: Yes. Sanjay: Okay. Understood. Thank you. Moderator: Thank you. The next question comes from the line of Darshil Pandya with Finterest Capital. Please go ahead. Darshil Pandya: Hello, sir. Am I audible? Ashish Tomar: Yes. Darshil Pandya: Sir, my question is more of regarding to the margin side. Sir, what is leading this reduction in the margins that we see today? And what are we doing today to, you know, take this margin back to the historical levels? H.K Kansal: This is the question. It was asked in the last conference call also. What happened, in the last Q2 quarters, we could not do much work due to heavy rains in our state in which we were executing like Uttarakhand mainly. So, what happens in civil engineering projects? Our establishment cost is fixed. Our tool and plant machinery cost is fixed. And if our revenue Page 3 of 9 decreases due to whatsoever reason, work is hampered due to whatsoever reason, the margins automatically shrink. Because all payments we have to make for the establishment, labor, rent on machinery and everything, that is almost fixed type of thing. We cannot remove it for a hindrance of a month or s [Showing first 8,000 characters — download PDF for full document]