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Mahindra EPC Irrigation Limited MAHEPC NSEINFRA

Industrials · Farm & Heavy Construction Machinery · India
https://www.mahindrairrigation.com

Mahindra EPC Irrigation Limited manufactures, sells, and markets micro irrigation systems in India and Uganda. The company's drip irrigation products include online drip irrigation products, such as drippers and plain irrigation lateral products; and inline drip irrigation products comprising non-pressure compensating (PC) flat, non-PC round, PC flat, and LITE products. It also offers drip irrigation components consisting of plastic and metallic hydro-cylone, vertical and horizontal sand, plastic and metal shell screen, disc, and semi-automatic screen filters; metallic and plastic header assemblies; venturies and fertilizer tanks; PP ball, butterfly, non-return, and PP flush control valves; pressure relief, vacuum breaker, and air release safety valves; and aquafit laterals accessories comprising straight connector, bend, equal tee, and start nipple. In addition, the company provides sprinkler irrigation products, such as various sprinklers, quick pipes coupling sprinkler pipes and fittings, and rainguns; automation systems; protected cultivation; HDPE pipes and coils; and DIY kits, including water reservoir, tubing, drip emitters, and fittings. Further, it offers agricultural services; crop advisory for land preparation, drip system selection, crop and irrigation management, and fertigation management; and technical services, including operation and maintenance training, and chemical treatment. The company also exports its products. The company was formerly known as EPC Industrie Limited and changed its name to Mahindra EPC Irrigation Limited in February 2019. Mahindra EPC Irrigation Limited was incorporated in 1981 and is based in Nashik, India. Mahindra EPC Irrigation Limited is a subsidiary of Mahindra & Mahindra Limited.

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₹116.94
-17.91% 1Y

Market & Price

Market Cap
₹326.86 Cr
Current Price
₹116.94
High / Low (52W)
₹181.70 / ₹92.71
Beta
0.46

Valuation

Stock P/E
25.76
Industry PE
27.78
Forward P/E
-
PEG Ratio
-
Book Value
₹66.22
Price to Book
1.77
P/S
1.05
EV/EBITDA
17.34
Dividend Yield
-

Profitability & Returns

ROCE
10.82%
ROE
7.10%
ROA
3.59%
Profit Margin
4.07%
Op Margin
5.89%
EPS (Latest Qtr)
₹1.71
EPS (TTM)
₹4.54

Balance Sheet & Liquidity

Debt/Equity
0.24
Quick Ratio
1.40
Current Ratio
1.74
Debt
₹45.31 Cr
Total Assets
₹351.67 Cr
Current Assets
₹288.00 Cr
Working Capital
₹122.33 Cr

Ownership

Promoter Holding
57.96%
Chg in Prom Hold
-
FII / Inst Holding
0.00%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹372.04 Cr
Total Revenue (TTM)
₹312.09 Cr
EBITDA
₹21.45 Cr
Free Cash Flow
₹42.00 L
Operating Cash Flow
₹-16.28 Cr
Shares Outstanding
₹2.80 Cr
Gross Margin
54.60%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
14.07%
Profit 5Y
67.70%
Revenue (YoY)
11.60%
Earnings (YoY)
-23.70%

PROS

  • Compounding revenue at 14.1% over 5 years.
  • Profit CAGR of 67.7% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 35.6% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 MAHEPC Mahindra EPC Irrigation Limited NSEINFRA 116.94 25.76 ₹326.86 Cr - 10.82% 7.10% 14.07% 67.70%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
5 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
8 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
9 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
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Quarterly Results

Figures in INR.

Metric Dec 2024Mar 2025Jun 2025Dec 2025Mar 2026
Revenue 81.45 Cr95.89 Cr62.17 Cr93.47 Cr107.00 Cr
Cost of Revenue 41.46 Cr43.07 Cr24.43 Cr44.86 Cr49.53 Cr
Gross Profit 39.99 Cr52.82 Cr37.74 Cr48.61 Cr57.47 Cr
Operating Expenses 31.14 Cr44.17 Cr35.67 Cr38.93 Cr51.22 Cr
Operating Income 8.85 Cr8.65 Cr2.07 Cr9.68 Cr6.25 Cr
EBITDA 9.81 Cr11.13 Cr2.87 Cr10.21 Cr8.04 Cr
Interest Expense 47.00 L76.00 L76.00 L69.00 L89.00 L
Pretax Income 8.53 Cr9.43 Cr1.31 Cr8.74 Cr6.36 Cr
Tax Provision 2.18 Cr3.18 Cr33.00 L2.25 Cr1.57 Cr
Net Income 6.35 Cr6.25 Cr98.00 L6.49 Cr4.79 Cr
Diluted EPS 2.272.240.352.321.71

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -210.10 Cr262.33 Cr272.42 Cr311.84 Cr
Cost of Revenue -134.82 Cr151.36 Cr136.12 Cr141.49 Cr
Gross Profit -75.28 Cr110.97 Cr136.30 Cr170.35 Cr
Operating Expenses -91.44 Cr108.08 Cr125.64 Cr151.87 Cr
Operating Income --16.16 Cr2.89 Cr10.66 Cr18.48 Cr
EBITDA --10.71 Cr8.30 Cr16.36 Cr23.29 Cr
Interest Expense -2.22 Cr2.71 Cr2.29 Cr3.14 Cr
Pretax Income --16.03 Cr2.43 Cr10.71 Cr16.99 Cr
Tax Provision --3.72 Cr76.00 L3.50 Cr4.30 Cr
Net Income --12.31 Cr1.67 Cr7.21 Cr12.69 Cr
Diluted EPS --4.410.602.584.54

Compounded Sales Growth

5 Years:14.07%
1 Year:11.60%

Compounded Profit Growth

5 Years:67.70%
1 Year:-23.70%

Stock Price Performance

1 Year:-17.91%
6 Months:-7.96%
3 Months:-2.04%
1 Month:-0.81%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -253.18 Cr257.09 Cr291.53 Cr351.67 Cr
Current Assets -196.40 Cr213.84 Cr251.87 Cr288.00 Cr
Cash & Equivalents -4.42 Cr20.00 L1.69 Cr3.00 L
Inventory -40.22 Cr44.46 Cr41.70 Cr36.73 Cr
Receivables -113.74 Cr145.35 Cr173.36 Cr216.92 Cr
Total Liabilities -89.77 Cr91.81 Cr118.92 Cr166.62 Cr
Current Liabilities -89.25 Cr91.01 Cr118.10 Cr165.67 Cr
Long Term Debt -----
Total Debt -15.15 Cr15.90 Cr25.40 Cr45.31 Cr
Total Equity -163.41 Cr165.28 Cr172.61 Cr185.05 Cr
Shares Outstanding -2.79 Cr2.79 Cr2.79 Cr2.79 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -19.03 Cr1.58 Cr-4.39 Cr-16.28 Cr
Investing Cash Flow --2.40 Cr-1.67 Cr-1.53 Cr-2.09 Cr
Financing Cash Flow --12.25 Cr-4.13 Cr7.41 Cr16.71 Cr
Capital Expenditure --2.18 Cr-2.48 Cr-1.96 Cr-2.17 Cr
Free Cash Flow -16.85 Cr-90.00 L-6.35 Cr-18.45 Cr
Net Change in Cash -4.38 Cr-4.22 Cr1.49 Cr-1.66 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -35.8%42.3%50.0%54.6%
Operating Margin % --7.7%1.1%3.9%5.9%
Net Margin % --5.9%0.6%2.6%4.1%
ROE % --7.5%1.0%4.2%6.9%
ROCE % --9.9%1.7%6.1%9.9%

Shareholding Pattern

Insiders
57.96%
Institutions
0.00%
Public Float
0.00%

Analyst View

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