Mahindra EPC Irrigation Limited Q4 FY26 earnings call summary

Earnings call of 22 Apr 2026, summarised by AI from the filing.

Mahindra EPC Irrigation reported FY26 revenue of ₹315.8 cr, up 14.8%, and PBT of ₹16.99 cr, despite raw material price surge in Q4.

Key takeaways

1. FY26 revenue ₹315.8 cr (FY25: ₹275.1 cr, +14.8%), highest ever, despite Q4 raw material price surge.
2. Raw material PE pipe grades saw 58-59% price increase in February 2026; industry seeks government price hike.
3. Non-subsidy mix Non-subsidy share reached 35% of FY26 revenue, up from 3% in FY20.

Original filing on BSE

Mahindra EPC Irrigation Limited Q1 FY27 results

As filed: Revenue ₹54.2 cr (−13% year on year), EBITDA −₹1.4 cr (−145% year on year), PAT −₹2.1 cr (−300% year on year), EBITDA margin -2.5% (−735 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

• Q4 FY26: Revenue ₹107 cr (+11% year on year), EBITDA ₹7.0 cr (−22% year on year), PAT ₹4.8 cr (−20% year on year), EBITDA margin 6.6% (−280 bps). Score 44 of 100, In line with trend. Revenue and EBITDA growth were in line with the company's own trend; profit growth was below it. EBITDA margin fell 280 bps year on year. Profit fell 26% from last quarter. Share price after the results: −7.2% in 30 days (Nifty 500: −1.9%).
• Q3 FY26: Revenue ₹93.5 cr (+15% year on year), EBITDA ₹10.5 cr (+5% year on year), PAT ₹6.5 cr (+19% year on year), EBITDA margin 11.2% (−115 bps). Score 62 of 100, In line with trend. Revenue growth was above the company's own trend; EBITDA growth was in line with it. EBITDA margin fell 115 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −4.9% in 28 days (Nifty 500: −0.7%).
• Q2 FY26: Revenue ₹50.0 cr (0% year on year), EBITDA ₹2.0 cr, PAT ₹0.0 cr, EBITDA margin 4.0% (+1,000 bps). Score 38 of 100, Below trend. Revenue growth was below the company's own trend. EBITDA margin rose 1000 bps year on year. Other income 100% of PBT. Tax rate 0%. Revenue fell 19% from last quarter. Share price after the results: −8.7% in 28 days (Nifty 500: +1.0%).
• Q1 FY26: Revenue ₹62.0 cr (+38% year on year), EBITDA ₹3.0 cr, PAT ₹1.0 cr, EBITDA margin 4.8% (+1,000 bps). Score 78 of 100, Above trend. Revenue growth was well above the company's own trend. EBITDA margin rose 1000 bps year on year. Tax rate 0%. Revenue fell 35% from last quarter. Share price after the results: −3.3% in 27 days (Nifty 500: −3.2%).
• Q4 FY25: Revenue ₹96.0 cr (+35% year on year), EBITDA ₹9.0 cr (+300% year on year), PAT ₹6.0 cr (+300% year on year), EBITDA margin 9.4% (+797 bps). Score 95 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend. EBITDA margin rose 797 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −5.5% in 29 days (Nifty 500: +5.5%).
• Q3 FY25: Revenue ₹81.0 cr (+1% year on year), EBITDA ₹10.0 cr (+150% year on year), PAT ₹6.0 cr (+200% year on year), EBITDA margin 12.4% (+735 bps). Score 61 of 100, In line with trend. Revenue growth was in line with the company's own trend. EBITDA margin rose 735 bps year on year.
• Q2 FY25: Revenue ₹50.0 cr (−14% year on year), EBITDA −₹3.0 cr (−300% year on year), PAT −₹3.0 cr, EBITDA margin -6.0% (−772 bps). Score 4 of 100, Below trend. EBITDA margin fell 772 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Mahindra EPC Irrigation Limited earnings call, investor presentation and press release summaries

• Q4 FY26: Earnings call (22 Apr 2026), Results press release (23 Apr 2026)
• Q2 FY26: Earnings call (20 Nov 2025)
• Q4 FY25: Earnings call (21 Apr 2025)