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Mahindra EPC Irrigation Ltd (MAHEPC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523754 NSE: MAHEPC Engineering - Industrial Equipments | Small Cap | Mahindra EPC Irrigat Share Price

₹102.70 -0.80 (-0.77%)

As on 11-Sep'26 15:19

Mahindra EPC Irrigation Ltd (MAHEPC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523754 NSE: MAHEPC Engineering - Industrial Equipments | Small Cap | Mahindra EPC Irrigat Share Price

₹102.70 -0.80 (-0.77%)

As on 11-Sep'26 15:19

Key Metrics
Valuation Multiples
Market Cap
₹289 Cr.
Current Price
₹102.7
52-Week Low / High
₹92 / 162
TTM EPS
₹3.4
TTM Sales
₹304 Cr.
Book Value per Share
₹65.4
P/E Ratio
30.23
Higher than its 5-year historical median
Industry PE
58.3
Price to Book (P/B)
1.58
Lower than its 5-year historical median
Price to Sales (P/S)
0.95
Lower than its 5-year historical median
EV/EBITDA
15.58
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
7.10%
Underperforms industry median
Return on Capital Employed (ROCE)
9.41%
Underperforms industry median
Return on Assets (ROA)
4.04%
Operating Profit Margin
6.9%
Net Profit Margin
4.07%
Gross Profit Margin
7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
14.46%
Operating Profit Growth (1 Year)
-
54.99%
Net Profit Growth (1 Year)
-
76.01%
Asset Quality
Promoter Holding
54.18%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹155 Cr.
Equity
₹28 Cr.
Face Value
₹10
All Time Low / High
₹1.15 / 237.00

Mahindra EPC Irrigation stock performance

Key Ratios
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Check Before You Invest

Valuation

Fair

Price Trend

Semi Strong
Q.1 Is Mahindra EPC Irrigation Ltd a good quality company?
Mahindra EPC Irrigation Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Mahindra EPC Irrigation Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Mahindra EPC Irrigation Ltd vs industry peers?
Mahindra EPC Irrigation Ltd revenue CAGR is 4.19%, compared to the industry median CAGR of 6.62%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Mahindra EPC Irrigation Ltd?
Promoters hold 54.18% of the Mahindra EPC Irrigation Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Mahindra EPC Irrigation Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -5% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Mahindra EPC Irrigation Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 8.7%7.8%12.3%20.4%14%-4.8%-7.3%2.9%6.9%9.4%-
Value Creation
Index
-0.4-0.4-0.10.50-1.3-1.5-0.8-0.5-0.3-

Growth Parameters

Sales 201205260284254212210262273312304
Sales YoY Gr.-1.8%27.1%9.2%-10.5%-16.6%-0.7%24.8%3.9%14.5%-
Adj EPS 3.61.64.18.46.9-2.8-4.30.82.65.13.4
YoY Gr.--55%153.4%105.2%-17.6%-140.9%NANA225%94.6%-
BVPS (₹) 48.250.253.861.166.862.558.459.161.766.265.4
Adj Net
Profit
9.94.511.323.219.2-7.9-122.27.314.110
Cash Flow from Ops. -5-14.74.89.611-23.1191.6-4.4-16.3-
Debt/CF from Ops. -0.1-0.30.71.40-1.10.89.8-5.7-2.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5%4.2%14.1%14.5%
Adj EPS 3.9%-6%NA94.6%
BVPS3.6%-0.2%4.3%7.2%
Share Price -5% -5.1% -6.6% -34.6%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
7.73.37.814.510.8-4.3-7.11.44.37.95.2
Op. Profit
Mgn %
6.467.81310.2-2.6-6.22.35.16.95.8
Net Profit
Mgn %
4.92.24.48.27.6-3.7-5.70.92.74.53.1
Debt to
Equity
0000.100.10.10.10.20.2-
Working Cap
Days
229268248260319402388295317334179
Cash Conv.
Cycle
14316312910913218317414116715687

Valuation of Mahindra EPC Irrigat - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales260284254212210262273312
Operating Expenses + 240247228217224257259291
Manufacturing Costs1621181725325062
Material Costs141134133133126139125140
Employee Cost 2526273029313235
Other Costs 5965493743545253
Operating Profit 203726-5-1361422
Operating Profit Margin (%) 7.8%13.0%10.2%-2.6%-6.3%2.2%5.1%6.9%
Other Income + 11303324
Exceptional Items 0000000-2
Interest 12122323
Depreciation 34333333
Profit Before Tax 173225-11-1621117
Tax 596-3-4144
Profit After Tax 112319-8-122713
PAT Margin (%) 4.4%8.2%7.6%-3.7%-5.9%0.6%2.6%4.1%
Adjusted EPS (₹)4.18.36.8-2.8-4.40.62.64.5
Dividend Payout Ratio (%)24.60%14.50%17.60%0%0%0%0%0%
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 149169185174163165172185
Share Capital 2828282828282828
Reserves 121142158146135137144157
Debt +31302515152545
Long Term Debt00000000
Short Term Debt31302515152545
Minority Interest00000000
Trade Payables5366646257617295
Others Liabilities 13101210741420
Total Liabilities 218258262272241246283344

Fixed Assets

Net Fixed Assets +2428262322212019
Gross Block7076777778818379
Accumulated Depreciation4549525457606361
CWIP 00000000
Investments 21110000
Inventories2636343640444237
Trade Receivables125129140138114145173217
Cash Equivalents 313627242
Others Assets 3852557158324470
Total Assets 218258262272241246283344
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 51011-23192-4-16
PBT 173225-11-1621117
Adjustment 712681114109
Changes in Working Capital -14-22-11-1825-15-23-42
Tax Paid -6-12-8-2-21-20
Cash Flow From Investing Activity + -3-2-1-1-2-2-2-2
Capex -2-3-1-1-2-2-2-2
Net Investments -2000-010-0
Others 110-00000
Cash Flow From Financing Activity + -33-1720-12-4717
Net Proceeds from Shares 00000000
Net Proceeds from Borrowing 00000000
Interest Paid -1-3-0-2-2-4-2-3
Dividend Paid -2-3-3-30000
Others -09-1325-100920
Net Cash Flow -011-7-44-41-2
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)7.6814.6310.82-4.4-7.311.024.287.1
ROCE (%)11.9520.4214.06-4.42-7.292.866.879.41
Asset Turnover Ratio1.21.190.980.810.841.11.051.01
PAT to CFO Conversion(x)0.450.430.58N/AN/A1-0.57-1.23
Working Capital Days
Receivable Days175.10162.90192.60235.50213.50176.30210.30224.10
Inventory Days36.7039.9050.4059.7064.7057.6056.9045
Payable Days136.20160.40178172.60171.40154.70193.30215.90

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Mahindra EPC Irrigation Ltd FAQs

The current trading price of Mahindra EPC Irrigat on 11-Sep-2026 15:19 is ₹102.7.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Mahindra EPC Irrigat stood at ₹289.3 Cr

The latest P/E ratio of Mahindra EPC Irrigat as of 10-Sep-2026 is 30.23.

The latest P/B ratio of Mahindra EPC Irrigat as of 10-Sep-2026 is 1.58.

The 52-week high of Mahindra EPC Irrigat is ₹162.3 and the 52-week low is ₹92.15.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Mahindra EPC Irrigat is ₹304 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mahindra EPC Irrigation Ltd is a below average quality company.

The key valuation ratios of Mahindra EPC Irrigation Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Mahindra EPC Irrigation Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Mahindra EPC Irrigation Ltd

Mahindra EPC Irrigation (Mahindra EPC) (formerly known as EPC Industries) is listed subsidiary company of the Mahindra & Mahindra (M&M) and one of the pioneers of Micro Irrigation in India. The company officially changed its name to Mahindra EPC Irrigation in 2019 following its acquisition by the Mahindra Group. The company enables farmers to Rise through Sustainable Precision Farming Solutions across Micro Irrigation, Water Management, Automation, Community Irrigation and Protected Cultivation. Mahindra EPC is a part of Mahindra Agriculture Business. Mahindra EPC provides customized end to end Irrigation and Water Management solutions to individual farmers as well as communities and stands out for superior quality. This is made possible through the company’s Multi State Presence, Technical Expertise, Superior Manufacturing Facilities, Wide range of Quality Products as well as Highly Qualified and Capable team. The company is also known for its Quality Services in the space of Irrigation Planning, Design, Installation, Agronomy, After sales Services - In person as well as through Digital delivery.

Business area of the company 

The company is engaged in the business of Micro Irrigation Systems such as Drip and Sprinklers, Agricultural Pumps, Greenhouses and Land Scape Products. The company manufactures, sales, and markets a wide range of drip and sprinkler irrigation systems, automation, and allied agricultural solutions for both individual farmers and community irrigation projects, supported by a strong pan-India network of channel partners and multi-locational manufacturing facilities.

Businesses

  • Seeds: It provides superior quality seeds through its own indigenous R&D program in Hyderabad. The focus of R&D Program is development of unique germplasm for traits of importance and novelty, development and testing commercially competent products for the farmers and dedicated R &D team has enabled it to launch premium products in Rice, Corn and Pearl millet. It also boast of a rich portfolio of vegetable seeds such as Hot Pepper, Okra, Melons, Tomatoes and others.
  • Crop Care: Its JV with Sumitomo corporation - Japan, Mahindra Summit, offers new generation Agro chemicals and biological products to manage pests, aid growth of plants, besides offering a whole range of crop care solutions. With a JV partner, who is known across the globe for their expertise in sourcing new age Agro-chemicals from leading Japanese Ag-chem giants, its crop care business is poised to deliver newer cutting-edge molecules for Indian farmers.
  • Seed Potato: Mahindra HZPC, its joint venture with HZPC - Netherlands, global leaders in seed potatoes, provides global varieties of seed potatoes for Indian farmers. With state-of-the-art Aeroponics Facility in Mohali, and another production facility in Palampur, MHZPC is able to multiply and deliver superior quality, virus-free seeds to farmers and leading potato processing companies in India. The company's portfolio boasts of several varieties of seed potatoes across three distinct use cases.
  • Micro Irrigation: Mahindra EPC Irrigation (MEIL) is the company’s publicly listed Micro Irrigation company which was acquired in 2011. Micro Irrigation has been shown to not only save water by 50% but also increase productivity for farmers. EPC provides industry leading, high-quality Drip Irrigation solutions and Sprinklers to farmers. With its main production plant in Nasik, satellite plants in Baroda and Coimbatore, and a distribution network of many dealers, EPC covers the length and breadth of India.
  • Fruits: Market linkage has always been a challenge for farmers and horticulture farmers are amongst the worst affected unbacked by the MSP schemes and facing the challenge of middlemen and unsupportive infrastructure. Mahindra has sought to mitigate this by focusing on an underexplored avenue for farmers - Exports. The company works with many farmers in Nasik, Baramati and Sangli to enable them to export high quality Grapes with globally acceptable residue levels to destinations like Europe, China, UK, South East Asia and others. 

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