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Mahindra EPC Irrigation share price & results

Mahindra EPC Irrigation Limited· Capital Goods· Industrials

Results to
Sept 2026
Latest analysed call
Q4 FY26
Ownership as of
Sept 2026

Manufacturer of irrigation pipes and irrigation systems with agricultural services, majority-owned by Mahindra & Mahindra.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

MetricValueChangeBasisPeriodNote
Revenue72.7 ₹ crore+46.5% YoYQuarterly, as filedQuarter to Sept 2026Revenue from operations as filed.
Operating margin6.4 %+3.6 pts YoYOperating profit / revenueQuarter to Sept 2026For the quarter; a change is in percentage points.
Net profit2.2 ₹ crore+418.6% YoYQuarterly, as filedQuarter to Sept 2026Profit after tax as filed.
Return on equity6.69 %+3.7 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin-5.82 %−3.7 ptsFY Mar 2026 vs FY Mar 2025Fiscal yearFY ending Mar 2026(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)13.26 %+10.1 ptsFY Mar 2026 vs FY Mar 2025Trailing twelve monthsTTM to Sept 2026Revenue change against the same period one year earlier.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Sept 2026

Guidance

What management said, and what became of it

2 of 3 judged targets kept · 3 open · verdicts reflect calls analysed to Q4 FY26.

Mahindra EPC Irrigation Limited management guidance track record on Inve: 6 targets tracked across analysed earnings calls (2 achieved, 1 missed, 3 open).

TargetOriginal wordingSaidLatest callVerdict
Revenue Growth vs Industrygrowing faster than the industry
Call transcript, Q4 FY25 · 25 Apr 2025		Q4 FY25Q4 FY26:FY26 revenue grew 14.8%, significantly above the industry's 6-7% growth.
Call transcript, Q4 FY26 · 22 Apr 2026		Achieved
Cash Flowexpect an improvement in the next six months [H2 FY26]
Call transcript, Q2 FY26 · 20 Nov 2025		Q2 FY26Q4 FY26:The Q4 FY26 report explicitly mentions a 'pile-up of receivables for the industry in FY26' and acknowledges a 5-year negative free cash flow trend, directly contradicting the earlier expectation of improvement.
Call transcript, Q4 FY26 · 22 Apr 2026		Missed
Operating Profit MarginReturn to historical stable range of 6-8% as a first milestone.
Call transcript, Q4 FY25 · 25 Apr 2025		Q4 FY25Q4 FY26:FY26 PBT margin was ~5.4%. While an improvement over FY25's 5.0% OPM, it remains below the 6-8% target range.
Call transcript, Q4 FY26 · 22 Apr 2026		At Risk

Source: Inve Guidance Tracker for Mahindra EPC Irrigation Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of Mahindra EPC Irrigation Limited's 6 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 3 more targets are in the full ledger.

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Price

₹96.72 −0.22% · −₹0.21

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −31.4% 1Y

₹100₹120₹140Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Oct 26Q2 FY26 — 20 Nov 2025Q4 FY26 — 22 Apr 2026

1Y: ₹140.98 on 24 Oct 2025 → ₹96.72. High ₹144.11 (31 Oct 2025), low ₹92.71 (30 Mar 2026).

Previous close
₹96.93
Market cap
₹270 Cr
52-week range
₹92.71 – ₹144.11
One year
−30.14%
Price to earnings (TTM to Sept 2026)
21.83×
Return on equity (TTM to Sept 2026)
6.69%

Overview

Symbol
NSE:MAHEPC
Industry
Industrials
Exchange
NSE
Currency
INR

What Mahindra EPC Irrigation Limited does

Based on the company's own presentations, annual report and earnings calls.

Mahindra EPC Irrigation Limited manufactures, sells, processes, exports and imports irrigation pipes and irrigation systems, and provides agricultural services. It is a subsidiary of Mahindra & Mahindra Limited, which holds 54.21% of its paid-up equity, and it serves customers through a network of branch offices across India. The company previously ran a protected-cultivation joint venture with Israel's TOP Greenhouses Limited (Mahindra Top Greenhouses Private Limited), which was discontinued during FY25 on grounds of financial unviability.

Segments

  • Irrigation Pipes & Systems
  • Agricultural Services
Branch offices
8 (Bhopal, Coimbatore, Dharwad, Hyderabad, Jaipur, Nagpur, Raipur, Vadodara)
Founded 1981Headquarters Nashik, Maharashtra, India Company website

How the price took the results

close before → close after

Q4 FY26
−5.0%
22 Apr
Q2 FY26
+0.1%
20 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

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