EMS Ltd Shares Surge 4.3% After ₹782 Cr Kolkata Project Win; JV to Revive Historic Adi Ganga River
By Shishta Dutta | Published at: Jun 24, 2025 05:47 PM IST
New Delhi, June 24, 2025 — After getting a ₹781.98 crore Letter of Acceptance from the Kolkata Municipal Corporation, EMS Limited (NSE: EMSLIMITED, BSE: 543983) saw its stock price rise by more than 4% to ₹611 during the day. This was made public under SEBI LODR Regulation 30. The project, which was given to a 74:26 joint venture, intends to bring the historic Adi Ganga river back to life through a design-and-build process that will take 36 months, followed by 15 years of operations and maintenance.
₹782 Cr Order: Pollution Abatement Project for River Adi Ganga
EMS Limited has received the formal Letter of Acceptance (LOA) for a pollution abatement project aimed at rejuvenating the historic River Adi Ganga in Kolkata. The contract is awarded by Kolkata Municipal Corporation, with EMS holding a 74% stake in the joint venture executing the work.
Project Highlights:
| Particular | Details |
|---|---|
| Order Value | ₹781.98 crore (including GST, O&M, and all charges) |
| EMS Share | 74% of total order |
| Scope of Work | Pollution abatement, rejuvenation of River Adi Ganga |
| Project Period | 36 months for design & build; 15 years O&M |
| Awarding Authority | Kolkata Municipal Corporation |
| Order Type | Domestic, not related-party |
EMS confirmed that neither the promoter group nor related parties have any interest in the awarding authority, and the contract does not fall under related-party transactions.
Stock Performance & Market Data (As of 24-Jun-2025, 03:30 PM IST)
| Metric | Value |
|---|---|
| LTP | ₹613.80 |
| Day Change | +₹28.20 (+4.82%) |
| 52-Week Range | ₹535.05 – ₹1,016.00 |
| Volume | 7.57 lakh shares |
| Value Traded | ₹45.97 crore |
| Market Cap | ₹3,392.93 crore |
| Free Float | ₹1,027.67 crore |
| VWAP | ₹606.92 |
The stock saw a strong bounce from its day’s low of ₹587.95, with significant investor interest building after the LOA disclosure.
Management Commentary
Ashish Tomar, Managing Director & CFO, stated in the regulatory filing:
“We are pleased to receive the Letter of Acceptance from Kolkata Municipal Corporation. This milestone reinforces our leadership in urban water infrastructure and long-term O&M services.”
About the Company
EMS Limited, listed on NSE and BSE since September 21, 2023, operates in the waste management and urban infrastructure segment. The company specializes in water supply, sewerage, and pollution control projects, with a focus on municipal and state contracts across India.
This Kolkata project win further strengthens EMS’s presence in eastern India and adds long-term revenue visibility through the 15-year O&M component.
REF: https://nsearchives.nseindia.com/corporate/EMSLIMITED_24062025141302_intimation_LOA.pdf
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