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Mahindra EPC Irrigation Limited (MAHEPC)

Small Cap

Industrials stocks · Small cap · NSE

Mahindra EPC Irrigation Limited operates in Irrigation Systems, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.

₹100.35
-5.20 · -4.93%
Market cap ₹299 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm IST
Details
Quote21 Oct, 03:31 pm IST
Base fundamentals18 Oct 2026 · screener
Official result overlay30 Sept 2026 · nse-xbrl
Latest result15 Oct, 05:58 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags03 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens

Trend score and candlestick chart

40Neutral

SMA20 -4.0% / mo · MACD + · near 52W low

Stock trend: 37
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%

Latest mapped FPI equity flow was not positive. View sector evidence

Technical chart

MAHEPCD candles · FIT view-12.8%
Latest close ₹100.35 on 2026-10-21
Bar
-5.3%
RSI
49
MACD hist
0.91
52W pos
16%
Visible chart range
Candle interval
2026-10-21O ₹106.00H ₹107.09L ₹99.80C ₹100.35Vol 37,317 sh
₹93.50₹101.75₹110.00₹118.25₹126.50₹100.352026-062026-09VolRSIMACD2026-042026-062026-082026-092026-11
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context

Relative performance and chart statistics

Adjusted completed-session prices, rebased to 100

MAHEPCNifty India ManufacturingNifty 500
-15%-8%-2%+5%21 Jul2 Sept21 Oct21 Oct 2026MAHEPC -9.7%Nifty India Manufactu… -7.7%Nifty 500 -6.5%
MAHEPC
-9.7%
Nifty 500
-6.5%
Nifty India Manufacturing
-7.7%
Vs Nifty 500
-3.2 pp
Chart stats
21 Oct 2026
From 52W high
-34.3%
₹152.7
52W range position
14%
₹91.9 - ₹152.7
ATR (14)
4.6%
₹4.6
Volume vs 20D
0.63x
Latest completed session
Avg traded value
₹0.6 Cr
20-session average
20D price channel
₹95 - ₹120.4
34.6% annualized volatility
Research snapshot

What the evidence says now

Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is weak.

Suggested next step
Check latest quarters
Result consistency is weak; verify whether the thesis is improving or deteriorating.
U-Score
Legacy · OVERVALUED
19

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Latest result
Excellent
100

Revenue +46.5% · PAT +418.6% YoY

Technical
Neutral
40

Price trend and sector-relative-strength timing.

Valuation
Legacy model
-413.9%

Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.

Trust
Limited evidence
64

Financial-only signal; management claim evidence is not sufficient yet.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Latest result

Quarter ended 30 Sept 2026

Excellent · 100/100

Rev +47% YoY · PAT +419% YoY · margin expansion · +34% QoQ · operating leverage

Filed 15 Oct 2026
Open results browser →
MetricThis quarterYoYQoQ
Revenue₹72.7 Cr+46.5%+34.1%
EBITDA₹4.6 Cr+243.0%+440.4%
Operating margin6.4%+365 bps+888 bps
PAT₹2.2 Cr+418.6%NDF
PAT margin3.1%+220 bps+702 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E
23.20
P/B
1.62
EV/EBITDA
14.25
Market Cap
299.00Cr

Profitability

ROE
7.93%
ROCE
10.30%
ROA
3.19%
Dividend Y
—

Growth (CAGR)

Revenue 5Y
4.00%
EPS 5Y
-6.00%
Revenue 3Y
14.00%
EPS 3Y
47.00%

Balance Sheet

Debt/Equity
0.23
Interest Coverage
5.25×
Altman Z
3.10
Book Value
66.20

Cash Flow

FCF Yield
—
FCF Positive Y
4/5
OCF
-16.00 Cr
EPS TTM
4.06

Shareholding

Promoter Hold
54.18%
Promoter Pledge
0.00%
Momentum 52W
27%

Financial History

Updated 21/10/2026

Revenue

₹ Cr
Latest: 312+14.3% vs prev
0312.0Mar 2019: 260Mar 2020: 284Mar 2021: 254Mar 2022: 212Mar 2023: 210Mar 2024: 262Mar 2025: 273Mar 2026: 312FY19FY20FY21FY22FY23FY24FY25FY26

Net Profit

₹ Cr
Latest: 13.0+85.7% vs prev
-12.0023.0Mar 2019: 11.0Mar 2020: 23.0Mar 2021: 19.0Mar 2022: -8.0Mar 2023: -12.0Mar 2024: 2.0Mar 2025: 7.0Mar 2026: 13.0FY19FY20FY21FY22FY23FY24FY25FY26

Return on Equity

%
Latest: 7.0+73.6% vs prev
-7.3013.5Mar 2019: 7.3%Mar 2020: 13.5%Mar 2021: 10.2%Mar 2022: -4.5%Mar 2023: -7.3%Mar 2024: 1.2%Mar 2025: 4.0%Mar 2026: 7.0%FY19FY20FY21FY22FY23FY24FY25FY26

Technicals

Trend interpretation, Stage 2, relative strength, volume and indicator evidence

Daily technical trend read

Mixed signals

Signals are conflicting — long-term trend down. RSI 49. Wait for confirmation.

  • Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
  • SMA20 falling (~4.2% over last month) — short-term momentum negative.
  • RSI(14) at 49 — rising, no extreme reading.
  • MACD above signal, histogram expanding — bullish momentum building.
  • 31% off 52W high · 9% above 52W low.

Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.

Nifty 500 leadership

Relative Strength & Trend Stage

35
RS percentile
Stage 4 Downtrend
1M return
+1.1%
3M return
-9.7%
6M return
-13.6%
1Y return
-26.9%
RS 1D
-2
RS 20D
+19
Sector rank
#2
Industry rank
#22
Stage evidence
  • Price is 9.1% below the 30-week proxy.
  • The 50-DMA is below the 30-week proxy and its slope is falling -1.8%.
  • Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 70.64-4.03%
65758595105Sept 25Feb 26Jun 26Oct 2671
RS vs Nifty 50071

Valuation & peers

U-Score 19 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies

19U-SCORE
OVERVALUED

Fundamental score breakdown

U band · OVERVALUED
Valuation3/30
Growth3/25
Quality1/20
Balance Sheet9/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
-3
Raw sum
19

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

19/100 · legacy band OVERVALUED

Positive drivers

  • Balance sheet contributes 9/15 to the score.
  • Cash flow contributes 3/10 to the score.
  • Growth contributes 3/25 to the score.

Main drags

  • Penalty bucket subtracts 3 points.
  • Fair-value margin of safety is negative at -413.9%.
  • Quality is weaker at 1/20; verify the latest quarterly trend.
Sector valuation model

Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks

For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.

Blended relative
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
23.2
PB
1.6
EV/EBITDA
14.3
ROE
7.9%
ROCE
10.3%
FCF Yield
—
Debt/Equity
0.2
MoS
-413.9%
Score movement

Stored run vs live recompute

This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.

Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
19
Previous: 19
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-413.9%
Previous: -440.5%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026
v4.3-runtime-valuation
19
19
19
19
19
19
19
19
19
19
19
19

Factor attribution

No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.

Modelled fair value

Graham Number
₹77.76
-29.0% MoS
Growth-justified P/E
4.8
Growth-justified Value
₹19.53
-413.9% MoS
PEG
—

Comparable companies

Peers

Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.

Compare all ↗
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
NITIRAJ
Small
Nitiraj Engineers Limited
Industrial Machinery
match 59
18
86.3
0.5%
-6292%
OVERVALUED
DENORA
Small
De Nora India Limited
Industrial Machinery
match 59
24
31.6
2.3%
-843%
OVERVALUED
TRF
Small
TRF Limited
Industrial Machinery
match 58
47
5.1
—
+88%
FAIR VALUE
RVTH
Small
Revathi Equipment India Limited
Industrial Machinery
match 58
40
14.3
8.6%
+64%
WATCHLIST
AFFORDABLE
Small
Affordable Robotic & Automation Limited
Industrial Machinery
match 58
35
35.4
6.6%
+24%
WATCHLIST

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Issuer presentation review pending

Mahindra EPC Irrigation Limited operates in Irrigation Systems, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Sept 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.

Trust Score
64Limited evidence · low confidenceTrust Lite

Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.

Limited evidence: Claim history is still being built. It ranks around the 42nd percentile of the scored universe and 40th percentile within Industrials. Main check: results consistency is weak at 38/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026
management-trust-v1
25 docs text-extracted · 18 concalls text-extracted
Score band
Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank
42nd percentile

overall median 67 · Industrials: 40th pctile, median 68 · Small: 47th pctile, median 66

Evidence depth
Financial-only

25 documents have extracted text, but claim history is not strong enough yet.

Claim delivery
Outcome history still building

0 claims extracted · No contradicted claim yet

How to read this Trust Score

Limited evidence · low confidence
What it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.

Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.

Forensic breakdown

Read low sub-scores as due-diligence warnings, not automatic sell signals.

Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
38
weak · quarterly consistency

Trust positives

  • ▸Promoter pledge is zero.
  • ▸4 years of positive FCF.

Trust risks

  • ▸Operating cash flow is negative at ₹-16 Cr.
  • ▸ROE is low at 7.9%.
  • ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
  • ▸OPM spread across recent quarters is 17.8%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

7 shown
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Aug - Mahindra EPC Irrigation Limited has informed about Copy of Newspaper Publication intimating the shareholders about opening of a ''''Special Window for Re-lodgement of Transfer ....

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul - Mahindra EPC Irrigation Limited has informed about Copy of Newspaper Publication regarding extract newspaper advertisements for publication of the Company''s Un-Audited Standalone ....

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Jun - The copies of Newspaper Advertisement of the notice of transfer of Unclaimed Dividend and Equity Shares of the Company to Investor Education and Protection ....

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 15 Jun - Won four micro-irrigation contracts worth Rs.17.15 crore for 680 Ha, to be executed in 11 months.

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 11 Jun - Awarded domestic contract to supply micro pressurized irrigation systems for 100 Ha; value approx Rs.3.32 crore, 11 months.

Source: Bse

Open source ↗
Verify on:NSE India ↗
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.