Mahindra EPC Irrigation Ltd

₹ 152 2.93%

17 Apr - close price

About

Incorporated in 1986, Mahindra EPC Irrigation is in the business of Micro Irrigation Systems viz. Drip and Sprinklers, Agricultural Pumps, Greenhouses, and Landscape Products^[1]

Key Points

Business Overview:^[1]
MEPCL is a part of Mahindra Agriculture Business, which is under Mahindra and Mahindra Limited’s Farm Equipment Sector. It is an ISO: 9001-2015 certified company which provides Irrigation and Water Management solutions to farmers. It works in Micro Irrigation, Water Management, Irrigation Automations, Community Irrigation and Protected Cultivation.

Website BSE NSE

Market Cap ₹ 425 Cr.
Current Price ₹ 152
High / Low ₹ 180 / 96.5
Stock P/E 58.9
Book Value ₹ 61.8
Dividend Yield 0.00 %
ROCE 6.85 %
ROE 4.27 %
Face Value ₹ 10.0

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Pros

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of -0.81% over past five years.
Company has a low return on equity of -0.68% over last 3 years.
Company has high debtors of 232 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Plastic products Industry: Plastics Products

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	66.48	47.32	26.30	65.79	70.96	53.25	57.74	80.29	71.17	45.31	50.02	81.45	95.89
	65.76	54.10	35.45	66.21	68.10	53.30	57.26	76.54	70.12	47.68	52.97	71.79	86.30
Operating Profit	0.72	-6.78	-9.15	-0.42	2.86	-0.05	0.48	3.75	1.05	-2.37	-2.95	9.66	9.59
OPM %	1.08%	-14.33%	-34.79%	-0.64%	4.03%	-0.09%	0.83%	4.67%	1.48%	-5.23%	-5.90%	11.86%	10.00%
	0.31	0.10	0.04	0.90	1.72	0.18	0.22	0.05	2.61	0.10	0.63	0.15	1.54
Interest	0.62	0.73	0.59	0.44	0.46	0.57	0.66	0.73	0.75	0.47	0.58	0.47	0.76
Depreciation	0.78	0.77	0.76	0.76	0.79	0.78	0.78	0.78	0.81	0.80	0.81	0.81	0.94
Profit before tax	-0.37	-8.18	-10.46	-0.72	3.33	-1.22	-0.74	2.29	2.10	-3.54	-3.71	8.53	9.43
Tax %	-137.84%	-21.64%	-21.03%	-47.22%	17.72%	-33.61%	-8.11%	27.07%	29.05%	-25.71%	-25.61%	25.56%	33.72%
	0.14	-6.41	-8.26	-0.38	2.74	-0.81	-0.68	1.67	1.49	-2.63	-2.76	6.35	6.25
EPS in Rs	0.05	-2.30	-2.96	-0.14	0.98	-0.29	-0.24	0.60	0.53	-0.94	-0.99	2.27	2.24
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	260	284	254	212	210	262	273
	240	247	228	218	224	257	259
Operating Profit	20	37	26	-6	-13	5	14
OPM %	8%	13%	10%	-3%	-6%	2%	5%
	1	1	3	0	3	3	2
Interest	1	2	1	2	2	3	2
Depreciation	3	4	3	3	3	3	3
Profit before tax	17	32	25	-11	-16	2	11
Tax %	33%	28%	24%	-25%	-23%	31%	33%
	11	23	19	-8	-12	2	7
EPS in Rs	4.07	8.29	6.81	-2.84	-4.41	0.60	2.58
Dividend Payout %	25%	14%	18%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	-1%
3 Years:	9%
TTM:	4%

Compounded Profit Growth
10 Years:	%
5 Years:	-21%
3 Years:	43%
TTM:	332%

Stock Price CAGR
10 Years:	0%
5 Years:	8%
3 Years:	15%
1 Year:	8%

Return on Equity
10 Years:	%
5 Years:	1%
3 Years:	-1%
Last Year:	4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	28	28	28	28	28	28	28
Reserves	122	142	158	148	136	137	145
	3	13	0	25	15	16	25
	68	80	81	79	75	76	94
Total Liabilities	221	264	268	280	253	257	292
	24	28	26	23	22	21	20
CWIP	0	0	0	0	0	0	0
Investments	2	1	1	1	0	0	0
	195	234	241	256	231	236	271
Total Assets	221	264	268	280	253	257	292

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	5	10	11	-23	19	2	-4
	-3	-2	-1	-1	-2	-2	-2
	-3	3	-17	20	-12	-4	7
Net Cash Flow	-0	11	-7	-4	4	-4	1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	175	165	200	238	197	202	232
Inventory Days	68	97	94	99	116	116	121
Days Payable	136	178	176	170	164	161	208
Cash Conversion Cycle	107	85	118	167	150	158	145
Working Capital Days	130	126	158	212	200	189	208
ROCE %		20%	14%	-4%	-7%	3%	7%

Shareholding Pattern

Numbers in percentages

2 Recently

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	54.31%	54.31%	54.31%	54.31%	54.26%	54.26%	54.26%	54.26%	54.21%	54.21%	54.21%	54.21%
	0.00%	0.11%	0.01%	0.01%	0.13%	0.19%	0.05%	0.11%	0.60%	0.20%	0.08%	0.01%
	45.69%	45.60%	45.70%	45.68%	45.62%	45.56%	45.70%	45.63%	45.18%	45.58%	45.71%	45.78%
No. of Shareholders	31,700	31,002	30,402	30,028	29,673	28,951	29,415	29,175	27,471	27,345	27,835	28,764

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	54.73%	54.65%	54.58%	54.51%	54.40%	54.40%	54.31%	54.26%	54.21%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.10%	0.01%	0.11%	0.01%
	2.00%	1.90%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	43.27%	43.45%	45.42%	45.48%	45.60%	45.50%	45.68%	45.63%	45.78%
No. of Shareholders	15,888	20,062	20,467	19,882	32,194	31,931	30,028	29,175	28,764

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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