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Mahindra EPC Irrigation Q4 FY26 Share Price & Earnings Call Analysis

₹97.87+0.30% today
Market cap
₹274 Cr
P/E
21.27
ROE
7.93%
PEG
0.45
Price to sales
0.84
Debt to equity
0.24
52W high / low
₹144 / ₹92.7
Sales growth (5Y)
4.19%
EBITDA margin
6.35%
Net profit margin
4.54%
Promoter holding
54.18%
Sales (last year)
₹327 Cr

Incorporated in 1981, Mahindra EPC Irrigation is in the business of manufacturing Micro Irrigation Systems, such as Drip and Sprinklers, and allied products.[1]

Guidance scorecard · Q4 FY26 call

What Mahindra EPC Irrigation Ltd's management guided
and where it ranks in Industrial Manufacturing

#54of 56 in
Industrial Manufacturing
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ4 FY26 call

10–20%
  • The industry is near an inflection point with early signs of a positive environment.
  • Predicted industry growth of 6% to 7% in FY26, with Mahindra EPC growing 14.8% in revenue to INR315.8 crores.
  • Government push for covering 10 million hectares under micro irrigation in 5 years (~2 million hectares per year) supports demand growth.
  • Reduction in GST from 12% to 5% expected to positively impact medium to long-term demand.
  • Increasing farmer awareness and sustainability focus expected to improve micro irrigation adoption.
  • Company targeting growth through a step-up in project sizes and expansion of the non-subsidy business which has grown from 2% to 35% of revenue.

2 more points from Mahindra EPC Irrigation Ltd's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

See what Mahindra EPC Irrigation Ltd said on margins — free account, 30 seconds.

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • Yes, Mahindra EPC Irrigation Limited has planned capex for FY27.
  • Capex plans are reviewed based on business and financial requirements.
  • Focused primarily on improving productivity and expanding capacity for current product lines.
  • Recent investments include equipment that led to immediate electricity savings.

2 more points from Mahindra EPC Irrigation Ltd's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

See what Mahindra EPC Irrigation Ltd said on fundraising — free account, 30 seconds.

Full Q4 FY26 analysis

Order bookQ4 FY26 call

Rising
  • Current opening pipeline (order book) for the year is about INR 55 crores.
  • There is a clear upside potential of an additional INR 20 crores expected soon.
  • Total expected order book could be around INR 75 crores by the end of the month.
  • The project business constitutes about a quarter of the total turnover.

2 more points from Mahindra EPC Irrigation Ltd's call on the order book

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Full Q4 FY26 analysis
Full Industrial Manufacturing ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Manufacturing
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Mahindra EPC Irrigation Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Manufacturing companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 0–2%₹1,207 Cr111.0
240%+Up 0–2%₹549 Cr33.8
340%+Flat₹8,076 Cr94.4
440%+Flat₹3,732 Cr81.2
540%+Flat₹2,580 Cr61.2
640%+Flat₹743 Cr43.6

Sign up free to see every company in the sector ranking and track Mahindra EPC Irrigation Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Industrial Manufacturing ranking

Financials of Mahindra EPC Irrigation Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Mahindra EPC Irrigation Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +54.26%54.26%54.21%54.21%54.21%54.21%54.20%54.20%54.20%54.20%54.18%54.18%
FIIs +0.05%0.11%0.60%0.20%0.08%0.01%0.07%0.02%0.01%0.02%0.13%0.02%
Public +45.70%45.63%45.18%45.58%45.71%45.78%45.72%45.78%45.78%45.76%45.69%45.80%
No. of Shareholders29,41529,17527,47127,34527,83528,76428,65329,16826,63426,25226,20725,888

Pros & Cons

Mahindra EPC Irrigation Ltd

Key positives and risks surfaced from the company insights section.

Pros
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 4.19% over past five years.
  • Company has a low return on equity of 4.57% over last 3 years.
  • Company has high debtors of 254 days.
Raw Insights
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 4.19% over past five years.
  • Company has a low return on equity of 4.57% over last 3 years.
  • Company has high debtors of 254 days.

Financials of Mahindra EPC Irrigation Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +57.7480.2971.1745.3150.0281.4595.8962.0449.5893.47107.0054.1672.65
Expenses +57.1576.4070.0547.6852.9771.7986.3059.3048.2383.0199.9655.5268.02
Operating Profit0.593.891.12-2.37-2.959.669.592.741.3510.467.04-1.364.63
OPM %1.02%4.84%1.57%-5.23%-5.90%11.86%10.00%4.42%2.72%11.19%6.58%-2.51%6.37%
Other Income +0.11-0.092.540.100.630.151.540.130.82-0.251.000.300.30
Interest0.660.730.750.470.580.470.760.760.800.690.891.071.22
Depreciation0.780.780.810.800.810.810.940.800.790.780.790.720.75
Profit before tax-0.742.292.10-3.54-3.718.539.431.310.588.746.36-2.852.96
Tax %-8.11%27.07%29.05%-25.71%-25.61%25.56%33.72%25.19%25.86%25.74%24.69%-24.91%24.66%
Net Profit +-0.681.671.49-2.63-2.766.356.250.980.436.494.79-2.142.23
EPS in Rs-0.240.600.53-0.94-0.992.272.240.350.152.321.71-0.770.80

Financials of Mahindra EPC Irrigation Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +169203201205260284254212210262273312327
Expenses +165192189193240247228217224257259290307
Operating Profit4111312203726-5-136142221
OPM %2.4%5%6%6%8%13%10%-2.6%-6%2.2%5%7%6%
Other Income +2222113-133221
Interest1020121223234
Depreciation3333343333333
Profit before tax3101010173225-11-162111715
Tax %33%15%-2%52%32%28%24%-23%-23%31%33%25%
Net Profit +29105112319-9-12271311
EPS in Rs0.653.163.581.784.128.386.89-3.09-4.390.602.584.544.06
Dividend Payout %0%0%0%28%24%14%17%0%0%0%0%0%

Financials of Mahindra EPC Irrigation Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital28282828282828282828282828
Reserves8796107112122143159147136137145157157
Borrowings +10043130251516254544
Other Liabilities +3746495368808179757694121117
Total Liabilities152170183196221264268280253257292352345
Fixed Assets +30272525242826232221201918
CWIP0010000000000
Investments0050222100000
Other Assets +122143152171195234241256231236271332327
Total Assets152170183196221264268280253257292352345

Financials of Mahindra EPC Irrigation Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +19-3-5-1551011-23192-4-16
Cash from Investing Activity +26-46-3-2-1-1-2-2-2-2
Cash from Financing Activity +-17-0-13-33-1720-12-4717
Net Cash Flow42-9-6-011-7-44-41-2
Free Cash Flow18-3-5-163710-2417-1-6-18
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit497%-12%-25%-101%51%59%74%383%-155%14%-18%-76%

Financials of Mahindra EPC Irrigation Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days123136165191175165200238197202232254
Inventory Days96851041136897949911611612196
Days Payable8180108125136178176170164161208246
Cash Conversion Cycle13814216117910785118167150158145103
Working Capital Days113112145166125109158168174168174141
ROCE %3%9%9%7%12%20%14%-4%-7%3%7%10%

Guidance history

How Mahindra EPC Irrigation Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →10–20%FlatPlanned—Rising
Q2 FY26 call →10–20%Flat—PlannedRising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

Continue your research

What Mahindra EPC Irrigation Ltd's management said in earlier quarters

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