Q4 2026 Mahindra EPC Irrigation Ltd Earnings Call Transcript

Apr 22, 2026 / 10:00 AM GMT

Release Date Price: ₹121.52 (-5.76%)

Transcript

Key Points

Positve

Mahindra EPC Irrigation Ltd (BOM:523754) registered its highest ever revenue in FY26, with a growth of 14.8% compared to the previous year.
The company improved its bottom line significantly, delivering a PBT of 17 crore rupees for FY26, up from 10.7 crores in FY25.
The non-subsidy business contribution increased to 35% in FY26 from a mere 3% in FY20, indicating successful diversification.
The company managed to achieve a 1% saving on material costs through strategic sourcing and improved product and business mix.
Mahindra EPC Irrigation Ltd is expanding its presence in emerging markets, such as North India, with a 28% growth in UP in FY26.

Negative

The company faced challenges with high receivables due to delayed payments from state governments, impacting cash flow.
Raw material prices saw a sharp increase in March 2026, affecting the company's margins and cost structure.
The industry is subject to volatility in demand due to factors like election cycles and agricultural policy changes.
The company has experienced negative cash flow over the past five years, primarily due to high working capital requirements.
The subsidy business, which constitutes a significant portion of revenue, is heavily reliant on government pricing and fund disbursement.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MHID.NS - Mahindra EPC Irrigation Ltd
Q4 2026 Mahindra EPC Irrigation Ltd Earnings Call
Apr 22, 2026 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and Gentlemen, Good day and welcome to the Mahindra EPC Irrigation Investors Conference Call.

As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you leave assistance during the conference call, please signal an operator by pressing then 0 on your touch tone phone.

Please note that this conference is being recorded.

I now hand the conference over to Mr. Ramesh Ramachandran, Managing Director, Mahindra EPC.

Thank you and over to you, sir.

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Unidentified_2 [2]

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