BSE: 523754 | NSE: MAHEPC | Engineering - Industrial Equipments | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Mahindra EPC Irrigation Ltd is a below average quality company.
The key valuation ratios of Mahindra EPC Irrigation Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Mahindra EPC Irrigation Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 3.2% | 9.1% | 8.7% | 7.8% | 12.3% | 20.4% | 14% | -4.8% | -7.3% | 2.9% | - |
| Value Creation Index ⓘ | -0.8 | -0.4 | -0.4 | -0.4 | -0.1 | 0.5 | 0 | -1.3 | -1.5 | -0.8 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 169 | 203 | 201 | 205 | 260 | 284 | 254 | 212 | 210 | 262 | 247 |
| Sales YoY Gr. | - | 19.9% | -0.9% | 1.8% | 27.1% | 9.2% | -10.5% | -16.6% | -0.7% | 24.8% | - |
| Adj EPS ⓘ | 0.7 | 3.2 | 3.6 | 1.6 | 4.1 | 8.4 | 6.9 | -2.8 | -4.3 | 0.8 | -0.8 |
| YoY Gr. | - | 386.2% | 13.3% | -55% | 153.4% | 105.2% | -17.6% | -140.9% | NA | NA | - |
| BVPS (₹) ⓘ | 40.3 | 44.6 | 48.2 | 50.2 | 53.8 | 61.1 | 66.8 | 62.5 | 58.4 | 59.1 | 57.3 |
| Adj Net Profit ⓘ | 1.8 | 8.7 | 9.9 | 4.5 | 11.3 | 23.2 | 19.2 | -7.9 | -12 | 2.2 | -2 |
| Cash Flow from Ops. ⓘ | 19.3 | -2.8 | -5 | -14.7 | 4.8 | 9.6 | 11 | -23.1 | 19 | 1.6 | - |
| Debt/CF from Ops. ⓘ | 0 | -0.2 | -0.1 | -0.3 | 0.7 | 1.4 | 0 | -1.1 | 0.8 | 9.8 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 5% | 0.2% | 1.1% | 24.8% | ||||
| Adj EPS ⓘ | 2.3% | -27.8% | -51.2% | NA | ||||
| BVPSⓘ | 4.4% | 1.9% | -4% | 1.2% | ||||
| Share Price | -3.5% | 4.3% | -4.2% | -3.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 1.6 | 7.3 | 7.7 | 3.3 | 7.8 | 14.5 | 10.8 | -4.3 | -7.1 | 1.4 | -1.4 |
| Op. Profit Mgn % ⓘ | 2.4 | 5.5 | 6.4 | 6 | 7.8 | 13 | 10.2 | -2.6 | -6.2 | 2.3 | -0.1 |
| Net Profit Mgn % ⓘ | 1.1 | 4.3 | 4.9 | 2.2 | 4.4 | 8.2 | 7.6 | -3.7 | -5.7 | 0.9 | -0.9 |
| Debt to Equity ⓘ | 0 | 0 | 0 | 0 | 0 | 0.1 | 0 | 0.1 | 0.1 | 0.1 | 0 |
| Working Cap Days ⓘ | 221 | 192 | 229 | 268 | 248 | 260 | 319 | 402 | 388 | 295 | 165 |
| Cash Conv. Cycle ⓘ | 139 | 117 | 143 | 163 | 129 | 109 | 132 | 183 | 174 | 141 | 91 |
No data to display
Return on Equity is Poor
Sales growth has been subdued in last 3 years 1.07%
Sales growth is not so good in last 4 quarters at -1.49%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | -0.8 | -0.8 |
| TTM Sales (₹ Cr.) | 247 | 247 |
| BVPS (₹.) ⓘ | 57.3 | 57.3 |
| Reserves (₹ Cr.) ⓘ | 132 | 132 |
| P/BV ⓘ | 1.94 | 1.94 |
| PE ⓘ | 0.00 | 0.00 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 107.05 / 178.25 |
| All Time Low / High (₹) | 1.15 / 237.00 |
| Market Cap (₹ Cr.) | 310 |
| Equity (₹ Cr.) | 27.9 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 57.5 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 169 | 203 | 201 | 205 | 260 | 284 | 254 | 212 | 210 | 262 |
| Operating Expenses ⓘ | 165 | 192 | 188 | 192 | 240 | 247 | 228 | 217 | 224 | 257 |
| Manufacturing Costs | 7 | 10 | 9 | 11 | 16 | 21 | 18 | 17 | 25 | 32 |
| Material Costs | 107 | 119 | 114 | 112 | 141 | 134 | 133 | 133 | 126 | 139 |
| Employee Cost | 20 | 21 | 23 | 24 | 25 | 26 | 27 | 30 | 29 | 31 |
| Other Costs ⓘ | 31 | 41 | 41 | 46 | 59 | 65 | 49 | 37 | 43 | 54 |
| Operating Profit ⓘ | 4 | 11 | 13 | 12 | 20 | 37 | 26 | -5 | -13 | 6 |
| Operating Profit Margin (%) | 2.4% | 5.5% | 6.3% | 6.0% | 7.8% | 13.0% | 10.2% | -2.6% | -6.3% | 2.2% |
| Other Income ⓘ | 3 | 2 | 2 | 2 | 1 | 1 | 3 | 0 | 3 | 3 |
| Interest ⓘ | 1 | 0 | 2 | 1 | 1 | 2 | 1 | 2 | 2 | 3 |
| Depreciation ⓘ | 3 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 3 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | 0 | 0 |
| Profit Before Tax ⓘ | 3 | 10 | 10 | 10 | 17 | 32 | 25 | -11 | -16 | 2 |
| Tax ⓘ | 1 | 2 | 0 | 5 | 5 | 9 | 6 | -3 | -4 | 1 |
| Profit After Tax | 2 | 9 | 10 | 5 | 11 | 23 | 19 | -9 | -12 | 2 |
| PAT Margin (%) | 1.1% | 4.3% | 4.9% | 2.4% | 4.4% | 8.2% | 7.6% | -4.1% | -5.8% | 0.6% |
| Adjusted EPS (₹) | 0.7 | 3.2 | 3.6 | 1.8 | 4.1 | 8.4 | 6.9 | -3.1 | -4.4 | 0.6 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 28% | 24% | 14% | 17% | 0% | 0% | 0% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 114 | 123 | 133 | 139 | 149 | 170 | 186 | 174 | 163 | 165 |
| Share Capital ⓘ | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 |
| Reserves ⓘ | 87 | 96 | 106 | 111 | 121 | 142 | 158 | 146 | 135 | 137 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 0 | 0 | 0 | 4 | 3 | 13 | 0 | 25 | 15 | 15 |
| Long Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short Term Debt | 0 | 0 | 0 | 3 | 3 | 13 | 0 | 25 | 15 | 15 |
| Trade Payables | 24 | 26 | 34 | 38 | 53 | 66 | 64 | 62 | 57 | 61 |
| Others Liabilities ⓘ | 16 | 17 | 11 | 13 | 13 | 10 | 12 | 10 | 7 | 4 |
| Total Liabilities ⓘ | 155 | 166 | 179 | 194 | 218 | 259 | 262 | 271 | 241 | 246 |
Fixed Assets | ||||||||||
| Gross Block | 65 | 64 | 65 | 67 | 70 | 76 | 77 | 77 | 78 | 81 |
| Accumulated Depreciation | 35 | 37 | 39 | 42 | 45 | 49 | 52 | 54 | 57 | 60 |
| Net Fixed Assetsⓘ | 30 | 27 | 25 | 25 | 24 | 28 | 26 | 23 | 22 | 21 |
| CWIP ⓘ | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 0 | 0 | 5 | 0 | 2 | 2 | 2 | 1 | 0 | 0 |
| Inventories | 28 | 28 | 32 | 35 | 26 | 36 | 34 | 36 | 40 | 44 |
| Trade Receivables | 57 | 76 | 91 | 107 | 125 | 129 | 140 | 138 | 114 | 145 |
| Cash Equivalents | 27 | 24 | 12 | 5 | 3 | 13 | 6 | 2 | 7 | 2 |
| Others Assetsⓘ | 12 | 13 | 13 | 23 | 38 | 52 | 55 | 71 | 58 | 32 |
| Total Assets ⓘ | 155 | 166 | 179 | 194 | 218 | 259 | 262 | 271 | 241 | 246 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 19 | -3 | -5 | -15 | 5 | 10 | 11 | -23 | 19 | 2 |
| PBT ⓘ | 3 | 10 | 10 | 10 | 17 | 32 | 25 | -11 | -16 | 2 |
| Adjustment ⓘ | 9 | 8 | 7 | 6 | 7 | 12 | 5 | 9 | 11 | 14 |
| Changes in Working Capital ⓘ | 9 | -20 | -19 | -29 | -14 | -22 | -11 | -18 | 25 | -15 |
| Tax Paid ⓘ | -1 | -1 | -2 | -2 | -6 | -12 | -8 | -2 | -2 | 1 |
| Cash Flow From Investing Activity ⓘ | 2 | 6 | -4 | 6 | -3 | -2 | -1 | -1 | -2 | -2 |
| Capex | -1 | -2 | -3 | -2 | -2 | -3 | -1 | -1 | -2 | -2 |
| Net Investments | 0 | 0 | -4 | 5 | -2 | 0 | 0 | 0 | 0 | 1 |
| Others ⓘ | 3 | 8 | 4 | 2 | 1 | 1 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | -17 | 0 | -1 | 3 | -3 | 3 | -17 | 20 | -12 | -4 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 25 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | -16 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | -2 | 0 | 0 | 0 | -1 | -3 | 0 | -2 | -2 | -4 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | -2 | -3 | -3 | -3 | 0 | 0 |
| Others ⓘ | 0 | 0 | 0 | 3 | 0 | 9 | -13 | 0 | -10 | 0 |
| Net Cash Flow ⓘ | 4 | 2 | -9 | -6 | 0 | 11 | -7 | -4 | 4 | -4 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 1.62 | 7.45 | 7.71 | 3.63 | 7.94 | 14.6 | 10.79 | -4.78 | -7.27 | 1.02 |
| ROCE (%) | 3.24 | 9.07 | 8.66 | 7.81 | 12.34 | 20.39 | 14.02 | -4.77 | -7.25 | 2.86 |
| Asset Turnover Ratio | 1.06 | 1.26 | 1.17 | 1.1 | 1.26 | 1.19 | 0.98 | 0.81 | 0.84 | 1.1 |
| PAT to CFO Conversion(x) | 9.5 | -0.33 | -0.5 | -3 | 0.45 | 0.43 | 0.58 | N/A | N/A | 1 | Working Capital Days |
| Receivable Days | 124 | 119 | 151 | 177 | 163 | 163 | 193 | 235 | 213 | 176 |
| Inventory Days | 69 | 50 | 55 | 60 | 43 | 40 | 50 | 60 | 65 | 58 |
| Payable Days | 75 | 76 | 96 | 118 | 118 | 160 | 178 | 173 | 171 | 155 |
EPC Industries started in the year 1986 with technical tie-up with Kulker S.A, French company of international reputation for manufacturing state of the art drip & sprinkler systems. EPC Industries, popularly known as EPC Irrigation, are pioneers of micro-irrigation in India. The company is strong and widely spread dealer’s network of more than 680 dealers and supported by 11 branch offices at strategic locations.
Business of the company:
EPC provides total solution for agriculture with a focus on micro-irrigation and inter-related requirements of fustigation and agronomic support. With the initial French Technology support EPC had developed the capability to design and develop the irrigation products of international standard, satisfying every need of Indian Farmers.
Services:
Survey: The company’s conduct surveys of individual farms to collect data on crops to be irrigated, its water and fertilizer requirements and agronomical practices to be followed. The company is equipped with all advanced equipment for complete survey of farms. It provides water and soil analysis services and accordingly advises on fertigation.
The company is equipped with all advanced equipment for complete survey of farms. It provides provide water and soil analysis services and accordingly advise on fertigation.
Field Services: EPC offers Agronomical and related services to farmers through its highly qualified man power which are as follows:-
Designing: EPC has highly qualified technical man power trained in India and abroad to man design department, who are located at various locations across the country, to help the farmers to provide them with an appropriate and the most cost effective field designs.
Installation:
Products:
Drip Irrigation:
Turbulent flow path ODLPC dripper: These are non-pressure compensating drippers are used for variable flow requirement by operating at different pressure range, larger / wider path enables to make ODLPC dripper clog resistant. It can be opened by un-screwing the cap for cleaning manually, as and when required.
Kimneer dripper: EPC kimneer dripper is an 'A' class dripper manufactured from quality engineering plastic material. Unique labyrinth creates high turbulance, which makes itself cleaning and flushing dripper. They are available in different colours and flow rates of 2, 4, 8 and 16 lph.
The innovative design of dripper with quick-seal technique allows it to open and close very quickly and easily creates less friction losses in the laterals. Provision to connect spagetti or extension tube for inter-crops and fully-grown horticulture crops.
Screen and Disc Filters: Screen and Disc Filters of non corrosive UV-resistant plastic body are available in different flow rates ranging from 30-50 m3 / hr. Screen filter element is made up of buckle-resistant plastic cylinder embedded with stainless steel (Anti-rust steel) Screen for longer life, fine and efficient filtration up to 150 mesh (100 microns) particle size. Disc filter element consists of sharp grooved discs. which can be removed from the filter body for effective cleaning their stacked Disc structure provides three-dimensional filtration of particles up to 120 mesh (130 microns) filters are provided with quick drain valve for draining out impurities without opening it and mobile pressure gauge for quick pressure measurement. O-Rings for filter element ensure perfect pressure sealing.
Fertigation Equipments:
a) Fertilizer Tank: Fertilizer tanks are fabricated from MS with powder coating to protect it from corrosion and the weather. Separate valves are provided with flexible transparent tube on inlet and outlet to control the injection rate and drain outlet for draining out the remaining chemicals they are used for application of fertilizers and chemicals along with water through drip system.
b) Fertilizer Injector or Ventury:
Integrated Dripline:
EPC Intergrated drip lines are manufactured in accordance with the latest advanced technology and has got IS 13488 certification. These drip lines have been designed after taking into consideration water scarcity problem and suitability to various crops grown in different parts of India. In the integrated drip lines, drippers are permanently welded inside the tube at regular intervals at the time of manufacturing.
EPC intergrated drip lines available in 12 and 16 mm with flow rates of 2 and 4 lph and dripper spacing of 30 to 150 cm. Integrated drip lines are manufactured as per indian standards (IS 13488) by using state of the art technology to suit crops cultivated in india and in different field conditions, ideal for close-spaced and row crops. Drippers are in built and positioned inside the lateral at preset intervals at the time of manufacturing, as per the requirement. By using compatible raw material compound, drippers are permanently bonded to the lateral inner wall.
Salient Features and Advantages:
Plain Laterals: EPC Online laterals are made from 100% virgin polymers specifically formulated for the drip laterals. These lateral pipes are manufactured as per Indian / International standards. Wall thickness and test results indicate their life to be well over 10 to 15 years.
Spinker Irrigations: Patented QPC Sprinkler System: 1st Patented QPC (Quick Pipe Coupling) Sprinkler Systems in the country, are available in sizes 50, 63, 75, 90 and 110 mm in the pressure ratings of 2.5 to 15 kg / cm2 suitable for low, medium and high pressure system.
While using EPC QPC system for joints, it ensures leak-proof operation and facilitates speedy jointing without using tools. The unique locking system ensures trouble free operation and restricts accidental opening of coupler lock due to surge pressure during initial priming. EPC QPC systems are socket - fusion welded to withstand high pressure operation and have longer life.
Patented QPC Sprinkler System: QPC (Quick Pipe Coupling) Sprinkler Systems are available in sizes 50, 63, 75, 90 and 110 mm in the pressure ratings of 2.5 to 15 kg / cm2 suitable for low, medium and high pressure system.
In 2011 Mahindra & Mahindra invests into EPC Industries.
In 2012 EPC a Mahindra Group Company launched first of it's kind 'One stop Agri Products & Solutions' shop.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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