Mahindra EPC Irrigation Limited (IN:MAHEPC)
:MAHEPC
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Mahindra EPC Irrigation Limited
(MAHEPC)
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Rating:58Neutral
Price Target:
₹126.00
▼(-5.97% Downside)
Action:ReiteratedDate:04/23/26
The score is held back primarily by weak recent operating and free cash flow, despite a clear recovery in reported profitability and a generally healthy balance sheet. Technicals are modestly supportive in the near term (above key shorter-term averages with positive MACD), while valuation appears mid-range based on the P/E.
Positive Factors
Structural demand for micro‑irrigation
MAHEPC operates squarely in long-term water-efficiency trends: micro-irrigation adoption reduces water use and boosts yields, encouraging government and farmer investment. This structural demand supports recurring product and project revenues and underpins durable addressable-market growth over multiple years.
Negative Factors
Weak cash conversion
Persistent negative operating and free cash flow over two years undermines the quality of reported profits and strains liquidity. If working-capital swings persist, the company may need external funding or delay investments, raising execution risk for project delivery and near-term balance-sheet stability.
Read all positive and negative factors
Positive Factors
Negative Factors
Structural demand for micro‑irrigation
MAHEPC operates squarely in long-term water-efficiency trends: micro-irrigation adoption reduces water use and boosts yields, encouraging government and farmer investment. This structural demand supports recurring product and project revenues and underpins durable addressable-market growth over multiple years.
Read all positive factors
Mahindra EPC Irrigation Limited (MAHEPC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.20B
Dividend YieldN/A
Average Volume (3M)6.85K
Price to Earnings (P/E)20.4
Beta (1Y)1.35
Revenue Growth14.46%
EPS Growth75.70%
CountryIN
Employees329
SectorServices
Sector StrengthN/A
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)1.71
Shares Outstanding27,942,469
10 Day Avg. Volume4,639
30 Day Avg. Volume6,854
Financial Highlights & Ratios
PEG Ratio0.27
Price to Book (P/B)1.40
Price to Sales (P/S)0.83
P/FCF Ratio-12.02
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mahindra EPC Irrigation Limited Business Overview & Revenue Model
Company Description
Mahindra EPC Irrigation Limited manufactures and sells micro irrigation systems in India. The company's drip irrigation products include online drip irrigation products, such as drippers and plain lateral products; inline drip irrigation products ...
How the Company Makes Money
MAHEPC makes money primarily by selling micro-irrigation products and executing irrigation system deployments for farmers and agricultural projects. Its key revenue streams typically include (1) product sales of drip irrigation systems (laterals, ...
Mahindra EPC Irrigation Limited Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.89B | 3.12B | 2.73B | 2.62B | 2.10B | 2.12B |
| Gross Profit | 1.49B | 1.34B | 1.47B | 1.22B | 384.50M | 779.64M |
| EBITDA | 259.80M | 215.90M | 163.50M | 84.20M | -106.30M | -50.03M |
| Net Income | 140.10M | 126.90M | 72.10M | 16.70M | -123.10M | -79.07M |
Balance Sheet | ||||||
| Total Assets | 3.01B | 3.52B | 2.92B | 2.57B | 2.53B | 2.80B |
| Cash, Cash Equivalents and Short-Term Investments | 17.80M | 16.00M | 16.90M | 30.10M | 81.20M | 400.00K |
| Total Debt | 365.80M | 453.10M | 254.00M | 159.00M | 151.50M | 251.91M |
| Total Liabilities | 1.27B | 1.67B | 1.19B | 918.10M | 897.70M | 1.04B |
| Stockholders Equity | 1.74B | 1.85B | 1.73B | 1.65B | 1.63B | 1.75B |
Cash Flow | ||||||
| Free Cash Flow | -115.20M | -215.60M | -63.50M | -9.00M | 168.50M | -239.49M |
| Operating Cash Flow | -103.40M | -193.90M | -43.90M | 15.80M | 190.30M | -231.31M |
| Investing Cash Flow | -8.90M | -21.90M | -15.30M | -16.70M | -24.00M | -9.63M |
| Financing Cash Flow | 96.30M | 199.20M | 74.10M | -41.30M | -122.50M | 197.14M |
Mahindra EPC Irrigation Limited Technical Analysis
Positive
134.00
Price Trends
115.60
Positive
121.04
Positive
134.77
Negative
Market Momentum
2.48
Negative
63.22
Neutral
72.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MAHEPC, the sentiment is Positive. The current price of 134 is above the 20-day moving average (MA) of 110.77, above the 50-day MA of 115.60, and below the 200-day MA of 134.77, indicating a neutral trend. The MACD of 2.48 indicates Negative momentum. The RSI at 63.22 is Neutral, neither overbought nor oversold. The STOCH value of 72.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MAHEPC.
Mahindra EPC Irrigation Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹355.44B | 28.55 | ― | 0.75% | 11.96% | 99.54% | |
58 Neutral | ₹3.20B | 20.42 | ― | ― | 14.46% | 75.70% | |
58 Neutral | ₹44.77B | 44.47 | ― | 0.35% | 25.53% | 20.05% | |
55 Neutral | $13.29B | 17.42 | 10.03% | 0.93% | 7.13% | -12.93% | |
54 Neutral | ₹7.71B | 37.06 | ― | 0.06% | ― | ― | |
53 Neutral | ₹22.88B | -12.27 | ― | ― | 9.85% | -59.71% |
* Services Sector Average
IN:MAHEPC
Mahindra EPC Irrigation Limited
115.27
-27.73
-19.39%
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Mahindra EPC Irrigation Limited Corporate Events
Mahindra EPC Irrigation Overhauls Governance, Confirms FY26 Results Ahead of AGM
Apr 21, 2026
Mahindra EPC Irrigation Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditors issuing an unmodified opinion. The company has scheduled its...
Mahindra EPC Irrigation Clears FY26 Results, Sets AGM and Overhauls Governance Roles
Apr 21, 2026
Mahindra EPC Irrigation Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with the statutory auditors issuing an unmodified opinion. The company has scheduled...
Mahindra EPC Irrigation Clears FY26 Results, Sets AGM and Strengthens Governance Framework
Apr 21, 2026
Mahindra EPC Irrigation Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditors issuing an unmodified opinion, and scheduled the 44th Annual...
Mahindra EPC Irrigation Tightens Governance With Board, Auditor and RPT Moves Ahead of AGM
Apr 21, 2026
Mahindra EPC Irrigation Limited has approved its audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditors issuing an unmodified opinion, and scheduled its 44th Annual General Meeti...
Mahindra EPC Irrigation Clears FY26 Results, Sets AGM and Overhauls Governance Bench
Apr 21, 2026
Mahindra EPC Irrigation Limited’s board has approved audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditors issuing an unmodified opinion. The company has scheduled its 44t...
Mahindra EPC Irrigation Reshapes Board, Governance and Confirms FY26 Results
Apr 21, 2026
Mahindra EPC Irrigation Limited’s board has approved audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with the statutory auditors issuing an unmodified opinion. The company has also schedule...
Mahindra EPC Board Clears FY26 Results, Governance Moves and MD Re-Appointment
Apr 21, 2026
Mahindra EPC Irrigation Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with statutory auditors issuing an unmodified opinion, and set 29 May 2026 as the da...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.