Mahindra EPC Irrigation Ltd
NSE:MAHEPC
Mahindra EPC Irrigation Ltd
Mahindra EPC Irrigation Ltd. engaged in the business of manufacturing and selling of irrigation systems. The company is headquartered in Nashik, Maharashtra and currently employs 323 full-time employees. The firm's product portfolio includes drip irrigation systems and sprinkler irrigation systems, consisting of online drippers, inline drip laterals, plain laterals, drip fittings, filters, fertigation equipment, pipe fittings and sprinkler nozzles, among others. The company also manufactures specialized pipes for water conveyance and gas distribution. The company provides end to end solutions to farmers in scientific water management through customized micro-irrigation systems, pumps, irrigation automation, community irrigation projects, water conveyance, protected cultivation solutions and value-added services such as agronomy advisory, farm productivity improvement support and design services. The firm's subsidiaries include Mahindra Logistics Ltd, Mahindra HZPC Pvt Ltd, Mahindra Agri Solutions Ltd and Mahindra Lifespace Developers Ltd, among others.
Mahindra EPC Irrigation Ltd. engaged in the business of manufacturing and selling of irrigation systems. The company is headquartered in Nashik, Maharashtra and currently employs 323 full-time employees. The firm's product portfolio includes drip irrigation systems and sprinkler irrigation systems, consisting of online drippers, inline drip laterals, plain laterals, drip fittings, filters, fertigation equipment, pipe fittings and sprinkler nozzles, among others. The company also manufactures specialized pipes for water conveyance and gas distribution. The company provides end to end solutions to farmers in scientific water management through customized micro-irrigation systems, pumps, irrigation automation, community irrigation projects, water conveyance, protected cultivation solutions and value-added services such as agronomy advisory, farm productivity improvement support and design services. The firm's subsidiaries include Mahindra Logistics Ltd, Mahindra HZPC Pvt Ltd, Mahindra Agri Solutions Ltd and Mahindra Lifespace Developers Ltd, among others.
Revenue Growth: Mahindra EPC reported a 17% increase in revenue for H1 FY26 to INR 111.6 crores, outperforming an industry that was flattish or declining.
Profit Turnaround: The company achieved a PBT of INR 1.9 crores for H1 FY26 compared to a loss of INR 7.3 crores in H1 FY25.
Monsoon Impact: Above-normal rainfall disrupted demand and installations in H1, particularly in Q2, resulting in flat quarterly revenue YoY.
Non-Subsidy Business: Non-subsidy business contributed 37.8% of H1 revenue, a significant increase from 3% in FY20, though margins remain lower than subsidy business.
Receivables & Cash Flow: Receivables increased by INR 9.4 crores, but receivable days improved by 6 days YoY. Management expects better cash flow in the next six months.
Sector Tailwinds: Favorable government policies, GST cuts, and increased awareness are expected to boost micro-irrigation adoption and market growth.
Export & Diversification: Initial efforts to grow exports, especially in Africa, are underway, leveraging Mahindra’s global presence.
