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Mahindra EPC Irrigation (MAHEPC)₹99.910.00%Industrial Products
In the Sep 2026 quarter (consolidated), Mahindra EPC Irrigation reported sales of ₹72.44 Cr, up 46.6% from Sep 2025, and net profit of ₹2.22 Cr, up 428.6% year on year. For the year to Mar 2026, sales were ₹311 Cr and net profit ₹12.98 Cr.
Company filings, consolidated accounts; latest reported quarter Sep 2026
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 80.00 | 70.98 | 45.19 | 49.85 | 81.20 | 95.58 | 61.83 | 49.42 | 93.11 | 107 | 54.02 | 72.44 |
| Expenses | 76.38 | 69.90 | 47.57 | 52.87 | 71.60 | 86.10 | 59.12 | 48.10 | 82.74 | 99.75 | 55.37 | 67.82 |
| Operating Profit | 3.76 | 1.06 | −2.38 | −2.96 | 9.70 | 9.63 | 2.75 | 1.36 | 10.49 | 7.07 | −1.37 | 4.65 |
| OPM % | 4.7% | 1.5% | −5.2% | −5.9% | 11.9% | 10.0% | 4.4% | 2.7% | 11.2% | 6.6% | −2.5% | 6.4% |
| Other Income | 0.04 | 2.60 | 0.09 | 0.62 | 0.14 | 1.53 | 0.12 | 0.81 | −0.24 | 0.99 | 0.29 | 0.29 |
| Interest | 0.74 | 0.76 | 0.48 | 0.59 | 0.48 | 0.77 | 0.77 | 0.81 | 0.70 | 0.90 | 1.08 | 1.23 |
| Depreciation | 0.77 | 0.80 | 0.79 | 0.80 | 0.80 | 0.93 | 0.79 | 0.78 | 0.77 | 0.78 | 0.71 | 0.74 |
| Profit before tax | 2.30 | 2.11 | −3.55 | −3.72 | 8.55 | 9.45 | 1.32 | 0.59 | 8.75 | 6.37 | −2.86 | 2.97 |
| Tax % | 27.1% | 29.1% | −25.7% | −25.6% | 25.6% | 33.8% | 25.2% | 25.9% | 25.8% | 24.7% | −24.9% | 24.7% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −0.99 | 0.00 | 0.00 | 0.00 |
| Net Profit | 1.66 | 1.48 | −2.62 | −2.75 | 6.34 | 6.24 | 0.97 | 0.42 | 6.48 | 4.78 | −2.13 | 2.22 |
| EPS (Rs) | 0.59 | 0.52 | −0.93 | −0.98 | 2.26 | 2.23 | 0.34 | 0.14 | 2.31 | 1.70 | −0.76 | 0.79 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Sales | 259 | 283 | 253 | 211 | 209 | 261 | 272 | 311 | 326 |
| Expenses | 239 | 246 | 227 | 218 | 223 | 256 | 258 | 289 | 306 |
| Operating Profit | 20.07 | 37.14 | 26.08 | −6.02 | −13.05 | 5.02 | 14.06 | 22.09 | 20.84 |
| OPM % | 8.0% | 13.0% | 10.0% | −2.8% | −6.0% | 2.0% | 5.0% | 7.0% | 6.4% |
| Other Income | 0.99 | 0.99 | 2.99 | 0.00 | 2.99 | 2.99 | 1.99 | 1.99 | 1.33 |
| Interest | 1.01 | 2.01 | 1.01 | 2.01 | 2.01 | 3.01 | 2.01 | 3.01 | 3.91 |
| Depreciation | 2.99 | 3.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 2.99 | 3.00 |
| Profit before tax | 17.03 | 32.05 | 25.03 | −11.02 | −16.03 | 2.01 | 11.02 | 17.02 | 15.23 |
| Tax % | 33.0% | 28.0% | 24.0% | −25.0% | −23.0% | 31.0% | 33.0% | 25.0% | — |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −0.99 | −0.99 |
| Net Profit | 10.99 | 22.99 | 18.99 | −7.99 | −11.99 | 1.99 | 6.99 | 12.98 | 11.35 |
| EPS (Rs) | 4.06 | 8.28 | 6.80 | −2.83 | −4.40 | 0.59 | 2.57 | 4.53 | 4.04 |
| Dividend payout % | 25.0% | 14.0% | 18.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 27.89 | 27.90 | 27.89 | 27.90 | 27.91 | 27.90 | 27.89 | 27.89 |
| Reserves | 122 | 142 | 158 | 148 | 136 | 137 | 145 | 157 |
| Borrowings | 2.99 | 12.96 | 0.00 | 24.97 | 14.99 | 15.99 | 24.96 | 44.88 |
| Other Liabilities | 67.67 | 79.62 | 80.61 | 78.62 | 74.65 | 75.63 | 93.61 | 120 |
| Total Liabilities | 220 | 263 | 267 | 279 | 252 | 256 | 291 | 351 |
| Fixed Assets | 23.92 | 27.91 | 25.90 | 22.92 | 21.93 | 20.94 | 19.92 | 18.93 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 1.99 | 0.99 | 0.99 | 0.99 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 194 | 233 | 240 | 255 | 231 | 235 | 270 | 331 |
| Inventories | 26.01 | 35.99 | 34.02 | 36.01 | 40.01 | 44.02 | 42.05 | 37.04 |
| Trade receivables | 125 | 129 | 140 | 138 | 114 | 145 | 173 | 217 |
| Cash & equivalents | 3.01 | 13.04 | 6.01 | 2.01 | 7.01 | 2.01 | 4.01 | 2.01 |
| Total Assets | 220 | 263 | 267 | 279 | 252 | 256 | 291 | 351 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 4.99 | 9.98 | 10.97 | −22.95 | 18.97 | 1.99 | −3.99 | −15.96 |
| Cash from investing activity | −3.01 | −2.01 | −1.01 | −1.01 | −2.01 | −2.01 | −2.01 | −2.01 |
| Cash from financing activity | −2.99 | 2.99 | −16.95 | 19.95 | −11.98 | −3.99 | 6.98 | 16.96 |
| Net cash flow | 0.00 | 10.99 | −7.01 | −4.01 | 4.01 | −4.01 | 1.01 | −2.01 |
| Capex | 2.25 | 3.11 | 1.39 | 0.83 | 2.19 | 2.49 | 1.97 | 2.18 |
| Free cash flow | 2.99 | 6.99 | 9.98 | −23.96 | 16.99 | −0.99 | −5.99 | −17.97 |
| CFO / OP % | 50.9% | 60.0% | 74.9% | 355.9% | −152.0% | 15.0% | −18.1% | −76.0% |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor days | 175 | 165 | 200 | 238 | 197 | 202 | 232 | 254 |
| Inventory days | 69 | 98 | 95 | 100 | 117 | 117 | 122 | 97 |
| Days payable | 136 | 178 | 176 | 170 | 164 | 161 | 208 | 246 |
| Cash conversion cycle | 107 | 85 | 118 | 167 | 150 | 158 | 145 | 103 |
| Working capital days | 124 | 108 | 157 | 167 | 173 | 167 | 173 | 140 |
| ROCE % | — | 20.1% | 14.1% | −4.0% | −7.0% | 3.0% | 7.0% | 10.1% |
For the Sep 2026 quarter, Mahindra EPC Irrigation reported sales of ₹72.44 Cr, up 46.6% year on year and net profit of ₹2.22 Cr, up 428.6% year on year. The operating margin was 6.4%.
Mahindra EPC Irrigation's sales for the year to Mar 2026 were ₹311 Cr; over the last twelve months they were ₹326 Cr.
Net profit for the year to Mar 2026 was ₹12.98 Cr, and ₹11.35 Cr over the last twelve months. Earnings per share over the same trailing period were ₹4.04.
Mahindra EPC Irrigation reported borrowings of ₹44.88 Cr at Mar 2026, against cash and equivalents of ₹2.01 Cr.
Cash from operations was −₹15.96 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹17.97 Cr.