Mahindra EPC Irrigation Limited (MAHEPC) AI Stock Analysis

• Market Cap: ₹3.56B
• Dividend Yield: N/A
• Average Volume (3M): 6.85K
• Price to Earnings (P/E): 13.8
• Beta (1Y): 1.25
• Revenue Growth: 17.09%
• EPS Growth: N/A
• Country: IN
• Employees: 329
• Sector: Services
• Sector Strength: N/A
• Industry: Agricultural - Machinery
• EPS (TTM): 2.32
• Shares Outstanding: 27,942,469
• 10 Day Avg. Volume: 4,639
• 30 Day Avg. Volume: 6,854
• PEG Ratio: 0.14
• Price to Book (P/B): 1.93
• Price to Sales (P/S): 1.22
• P/FCF Ratio: -52.53
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: ₹134.00 ▲(0.00% Upside)
• Action: Reiterated Date: 04/14/26
• Date: Action: Reiterated 04/14/26

The score is driven primarily by mixed financial performance: strong gross margins and low leverage are outweighed by weak net profitability and concerning cash flow trends. Technicals add modest support via short-term strength but remain mixed due to sub-200DMA positioning and slightly negative MACD. Valuation is moderately supportive with a mid-range P/E.

Positive Factors

High gross margins

A 54% gross margin indicates durable product-level profitability in micro‑irrigation components. High gross margins provide a buffer versus polymer/raw material cost swings, enable reinvestment in product development and channels, and support sustainable unit economics over multiple seasons.

Negative Factors

Low net profitability

A narrow 2.6% net margin and declining operating margins limit earnings retention and reduce the cushion against cost shocks or project overruns. Persistently low profitability constrains internal funding for growth and makes the business sensitive to input cost and pricing pressures over time.

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 ...

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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, ...

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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

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	2.89B	2.73B	2.62B	2.10B	2.12B	2.54B
Gross Profit	1.49B	1.47B	1.22B	384.50M	779.64M	1.20B
EBITDA	259.80M	163.50M	84.20M	-106.30M	-50.03M	292.59M
Net Income	140.10M	72.10M	16.70M	-123.10M	-79.07M	189.62M
Balance Sheet
Total Assets	3.01B	2.92B	2.57B	2.53B	2.80B	2.68B
Cash, Cash Equivalents and Short-Term Investments	17.80M	16.90M	30.10M	81.20M	400.00K	44.38M
Total Debt	365.80M	254.00M	159.00M	151.50M	251.91M	264.00K
Total Liabilities	1.27B	1.19B	918.10M	897.70M	1.04B	815.10M
Stockholders Equity	1.74B	1.73B	1.65B	1.63B	1.75B	1.86B
Cash Flow
Free Cash Flow	-115.20M	-63.50M	-9.00M	168.50M	-239.49M	96.23M
Operating Cash Flow	-103.40M	-43.90M	15.80M	190.30M	-231.31M	110.07M
Investing Cash Flow	-8.90M	-15.30M	-16.70M	-24.00M	-9.63M	-10.56M
Financing Cash Flow	96.30M	74.10M	-41.30M	-122.50M	197.14M	-166.38M

Mahindra EPC Irrigation Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 134.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 108.72, above the 50-day MA of 115.21, and below the 200-day MA of 134.97, indicating a neutral trend. The MACD of -0.41 indicates Negative momentum. The RSI at 65.58 is Neutral, neither overbought nor oversold. The STOCH value of 80.34 is Negative, 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASPINWALL	63 Neutral	₹1.76B	6.70	―	2.79%	9.72%	-57.95%
MAHEPC	61 Neutral	₹3.56B	13.84	―	―	17.09%	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
SADBHAV	46 Neutral	₹1.67B	-0.64	―	―	―	―
SADBHIN	43 Neutral	₹1.02B	-0.31	―	―	4.63%	67.17%
IL&FSENGG	40 Underperform	₹3.58B	-250.23	―	―	-6.13%	98.35%