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Last Updated: April 2, 2026, 3:17 am
Author: Getaka|Social: XLinkedIn

Mahindra EPC Irrigation Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹39.01Overvalued by 61.38%vs CMP ₹101.00

P/E (18.0) × ROE (4.3%) × BV (₹62.20) × DY (2.00%)

₹73.68Overvalued by 27.05%vs CMP ₹101.00
MoS: -37.1% (Negative)Confidence: 59/100 (Moderate)Models: 2 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹60.7427%Over (-39.9%)
Graham NumberEarnings₹84.1516%Over (-16.7%)
DCFCash Flow₹110.1613%Fair (+9.1%)
Net Asset ValueAssets₹62.549%Over (-38.1%)
EV/EBITDAEnterprise₹47.8011%Over (-52.7%)
Earnings YieldEarnings₹50.609%Over (-49.9%)
ROCE CapitalReturns₹87.979%Over (-12.9%)
Revenue MultipleRevenue₹98.127%Fair (-2.9%)
Consensus (8 models)₹73.68100%Overvalued
Key Drivers: EPS CAGR 55.7% lifts DCF — verify sustainability. | ROE 4.3% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 55.7%

*Investments are subject to market risks

Investment Snapshot

60
Mahindra EPC Irrigation Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health54/100 · Moderate
ROCE 6.9% WeakROE 4.3% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 3/5 years Mixed
Smart Money50/100 · Moderate
FII holding stable No changePromoter holding at 54.2% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-5% → 4%) ImprovingWorking capital: 174 days Capital intensive
Quarterly Momentum90/100 · Strong
Revenue (4Q): +21% YoY AcceleratingProfit (4Q): +478% YoY Strong
Industry Rank45/100 · Moderate
P/E 18.0 vs industry 30.0 Cheaper than peersROCE 6.9% vs industry 18.8% Below peersROE 4.3% vs industry 14.9% Below peers3Y sales CAGR: 9% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Mahindra EPC Irrigation Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
70/100
High
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 18.0 vs Ind 30.0 | ROCE 6.9% | ROE 4.3% | CFO/NP N/A
Balance Sheet Stress
20/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.00x | IntCov 0.0x | Current 2.44x | Borrow/Reserve 0.25x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹7 Cr | CFO/NP N/A
Ownership Accumulation
-25
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII -0.01 pp | DII N/A | Prom 0.00 pp
Business Momentum
+100
Stable
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +88.5% | Q NP +1,409.3% | Q OPM +8.5 pp
Derived FieldValueHow it is derived
Valuation Gap %-27.0%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.25xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change-0.01 ppLatest FII% minus previous FII%
DII ChangeN/ALatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-2,534Latest shareholder count minus previous count
Quarterly Sales Change+88.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change+1,409.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change+8.5 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:17 am

Market Cap 281 Cr.
Current Price 101
Intrinsic Value₹73.68
High / Low 185/91.9
Stock P/E18.0
Book Value 62.2
Dividend Yield0.00 %
ROCE6.85 %
ROE4.27 %
Face Value 10.0
PEG Ratio0.32

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Mahindra EPC Irrigation Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Mahindra EPC Irrigation Ltd 281 Cr. 101 185/91.918.0 62.20.00 %6.85 %4.27 % 10.0
RM Drip & Sprinklers Systems Ltd 1,028 Cr. 41.2 124/35.029.2 3.470.07 %44.7 %39.7 % 1.00
Jain Irrigation Systems Ltd 2,142 Cr. 29.4 66.4/27.142.7 81.70.00 %4.94 %0.61 % 2.00
Industry Average1,150.33 Cr57.2029.9749.120.02%18.83%14.86%4.33

All Competitor Stocks of Mahindra EPC Irrigation Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 65.7970.9653.2557.7480.2971.1745.3150.0281.4595.8962.0449.5893.47
Expenses 66.1867.9853.1457.1576.4070.0547.6852.9771.7986.3059.3048.2383.01
Operating Profit -0.392.980.110.593.891.12-2.37-2.959.669.592.741.3510.46
OPM % -0.59%4.20%0.21%1.02%4.84%1.57%-5.23%-5.90%11.86%10.00%4.42%2.72%11.19%
Other Income 0.881.590.020.11-0.092.540.100.630.151.540.130.82-0.25
Interest 0.440.460.570.660.730.750.470.580.470.760.760.800.69
Depreciation 0.760.790.780.780.780.810.800.810.810.940.800.790.78
Profit before tax -0.713.32-1.22-0.742.292.10-3.54-3.718.539.431.310.588.74
Tax % -47.89%17.77%-33.61%-8.11%27.07%29.05%-25.71%-25.61%25.56%33.72%25.19%25.86%25.74%
Net Profit -0.372.73-0.81-0.681.671.49-2.63-2.766.356.250.980.436.49
EPS in Rs -0.130.98-0.29-0.240.600.53-0.94-0.992.272.240.350.152.32

Last Updated: February 5, 2026, 2:59 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 10:46 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 175169203201205260284254212210262273301
Expenses 164165192189193240247228217224257259277
Operating Profit 104111312203726-5-1361424
OPM % 6%2%5%6%6%8%13%10%-3%-6%2%5%8%
Other Income 22222113-13322
Interest 2102012122323
Depreciation 3333334333333
Profit before tax 83101010173225-11-1621120
Tax % 0%33%15%-2%52%32%28%24%-23%-23%31%33%
Net Profit 829105112319-9-122714
EPS in Rs 2.790.653.163.581.784.128.386.89-3.09-4.390.602.585.06
Dividend Payout % 0%0%0%0%28%24%14%17%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-75.00%350.00%11.11%-50.00%120.00%109.09%-17.39%-147.37%-33.33%116.67%250.00%
Change in YoY Net Profit Growth (%)0.00%425.00%-338.89%-61.11%170.00%-10.91%-126.48%-129.98%114.04%150.00%133.33%

Mahindra EPC Irrigation Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 4, 2025, 1:36 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 28282828282828282828282828
Reserves 858796107112122143159147136137145146
Borrowings 16100431302515162537
Other Liabilities 33374649536880817975769491
Total Liabilities 163152170183196221264268280253257292301
Fixed Assets 32302725252428262322212020
CWIP 0001000000000
Investments 0005022210000
Other Assets 130122143152171195234241256231236271281
Total Assets 163152170183196221264268280253257292301

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -1419-3-5-1551011-23192-4
Cash from Investing Activity + 1526-46-3-2-1-1-2-2-2
Cash from Financing Activity + 1-17-0-13-33-1720-12-47
Net Cash Flow 142-9-6-011-7-44-41
Free Cash Flow -1718-3-5-163710-2417-1-6
CFO/OP -128%497%-12%-25%-101%51%59%74%383%-155%14%-18%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-6.003.0011.0013.008.0017.0024.0026.00-30.00-28.00-10.00-11.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 122123136165191175165200238197202232
Inventory Days 115968510411368979499116116121
Days Payable 648180108125136178176170164161208
Cash Conversion Cycle 17313814216117910785118167150158145
Working Capital Days 109113112145166125109158168174168174
ROCE %8%3%9%9%7%12%20%14%-4%-7%3%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 54.31%54.26%54.26%54.26%54.26%54.21%54.21%54.21%54.21%54.20%54.20%54.20%
FIIs 0.01%0.13%0.19%0.05%0.11%0.60%0.20%0.08%0.01%0.07%0.02%0.01%
Public 45.68%45.62%45.56%45.70%45.63%45.18%45.58%45.71%45.78%45.72%45.78%45.78%
No. of Shareholders 30,02829,67328,95129,41529,17527,47127,34527,83528,76428,65329,16826,634

Shareholding Pattern Chart

No. of Shareholders

Mahindra EPC Irrigation Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 2.580.60-4.41-2.846.81
Diluted EPS (Rs.) 2.580.60-4.41-2.836.78
Cash EPS (Rs.) 3.781.90-3.21-1.568.00
Book Value[Excl.RevalReserv]/Share (Rs.) 61.8059.2258.5962.9966.84
Book Value[Incl.RevalReserv]/Share (Rs.) 61.8059.2258.5962.9966.84
Revenue From Operations / Share (Rs.) 97.6394.0375.4376.1291.31
PBDIT / Share (Rs.) 5.853.14-3.75-1.7810.43
PBIT / Share (Rs.) 4.652.01-4.85-2.929.32
PBT / Share (Rs.) 3.831.04-5.65-3.639.09
Net Profit / Share (Rs.) 2.580.77-4.31-2.696.89
NP After MI And SOA / Share (Rs.) 2.580.59-4.41-2.846.81
PBDIT Margin (%) 5.993.34-4.96-2.3411.42
PBIT Margin (%) 4.762.14-6.43-3.8310.21
PBT Margin (%) 3.921.10-7.48-4.779.95
Net Profit Margin (%) 2.640.81-5.71-3.537.55
NP After MI And SOA Margin (%) 2.640.63-5.85-3.737.45
Return on Networth / Equity (%) 4.171.01-7.53-4.5010.18
Return on Capital Employeed (%) 7.493.38-8.25-4.6113.92
Return On Assets (%) 2.470.64-4.86-2.827.08
Total Debt / Equity (X) 0.140.090.090.000.00
Asset Turnover Ratio (%) 0.991.030.780.770.95
Current Ratio (X) 2.132.352.201.962.44
Quick Ratio (X) 1.781.861.751.612.01
Inventory Turnover Ratio (X) 6.333.243.463.863.72
Dividend Payout Ratio (NP) (%) 0.000.000.00-42.2417.58
Dividend Payout Ratio (CP) (%) 0.000.000.00-70.3915.11
Earning Retention Ratio (%) 0.000.000.00142.2482.42
Cash Earning Retention Ratio (%) 0.000.000.00170.3984.89
Interest Coverage Ratio (X) 7.173.24-4.71-2.5144.45
Interest Coverage Ratio (Post Tax) (X) 4.161.79-4.42-2.7930.37
Enterprise Value (Cr.) 350.97346.25248.60249.69392.36
EV / Net Operating Revenue (X) 1.291.321.181.181.54
EV / EBITDA (X) 21.4739.48-23.79-50.2513.51
MarketCap / Net Operating Revenue (X) 1.211.271.141.191.57
Retention Ratios (%) 0.000.000.00142.2482.41
Price / BV (X) 1.912.021.471.442.14
Price / Net Operating Revenue (X) 1.211.271.141.191.57
EarningsYield 0.020.01-0.05-0.030.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Mahindra EPC Irrigation Ltd. is a Public Limited Listed company incorporated on 28/11/1981 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L25200MH1981PLC025731 and registration number is 025731. Currently company belongs to the Industry of Micro Irrigation Systems. Company's Total Operating Revenue is Rs. 272.67 Cr. and Equity Capital is Rs. 27.93 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Micro Irrigation SystemsPlot No. H-109, MIDC, Ambad, Nasik Maharashtra 422010Contact not found
Management
NamePosition Held
Mr. Shriprakash ShuklaChairman
Mr. Ramesh RamachandranManaging Director
Mrs. Aruna BhingeDirector
Ms. Ami GodaDirector
Mr. Viswanathan KapilanandanDirector
Dr. Sudhir Kumar GoelDirector

FAQ

What is the intrinsic value of Mahindra EPC Irrigation Ltd and is it undervalued?

As of 05 April 2026, Mahindra EPC Irrigation Ltd's intrinsic value is ₹73.68, which is 27.05% lower than the current market price of ₹101.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.27 %), book value (₹62.2), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Mahindra EPC Irrigation Ltd?

Mahindra EPC Irrigation Ltd is trading at ₹101.00 as of 05 April 2026, with a FY2026-2027 high of ₹185 and low of ₹91.9. The stock is currently near its 52-week low. Market cap stands at ₹281 Cr..

How does Mahindra EPC Irrigation Ltd's P/E ratio compare to its industry?

Mahindra EPC Irrigation Ltd has a P/E ratio of 18.0, which is below the industry average of 29.97. This is broadly in line with or below the industry average.

Is Mahindra EPC Irrigation Ltd financially healthy?

Key indicators for Mahindra EPC Irrigation Ltd: ROCE of 6.85 % is on the lower side compared to the industry average of 18.83%; ROE of 4.27 % is below ideal levels (industry average: 14.86%). Dividend yield is 0.00 %.

Is Mahindra EPC Irrigation Ltd profitable and how is the profit trend?

Mahindra EPC Irrigation Ltd reported a net profit of ₹7 Cr in Mar 2025 on revenue of ₹273 Cr. Compared to ₹-9 Cr in Mar 2022, the net profit shows an improving trend.

Does Mahindra EPC Irrigation Ltd pay dividends?

Mahindra EPC Irrigation Ltd has a dividend yield of 0.00 % at the current price of ₹101.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Mahindra EPC Irrigation Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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