Mahindra EPC Irrigation Ltd

About [ edit ]

Mahindra EPC Irrigation is engaged in the Business of Micro Irrigation Systems - Drip and Sprinklers.

  • Market Cap 406 Cr.
  • Current Price 146
  • High / Low 195 / 96.6
  • Stock P/E 16.4
  • Book Value 62.9
  • Dividend Yield 0.82 %
  • ROCE 20.4 %
  • ROE 14.5 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 67.23% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 22.21%

Cons

  • The company has delivered a poor sales growth of 10.91% over past five years.
  • Company has a low return on equity of 8.85% for last 3 years.
  • Company has high debtors of 165.40 days.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
76.29 52.49 56.27 77.34 74.01 53.63 64.98 82.70 82.66 46.56 55.38 80.73
67.53 49.36 54.48 70.58 65.31 49.34 57.76 71.29 68.72 42.96 48.98 70.55
Operating Profit 8.76 3.13 1.79 6.76 8.70 4.29 7.22 11.41 13.94 3.60 6.40 10.18
OPM % 11.48% 5.96% 3.18% 8.74% 11.76% 8.00% 11.11% 13.80% 16.86% 7.73% 11.56% 12.61%
Other Income 0.38 0.08 0.17 0.14 0.64 0.09 0.17 0.41 0.65 1.61 0.21 0.25
Interest 0.17 0.39 0.36 0.27 0.38 0.34 0.65 0.44 0.55 0.07 0.08 0.10
Depreciation 0.80 0.76 0.77 0.76 0.78 0.87 0.88 0.89 1.16 0.75 0.78 0.76
Profit before tax 8.17 2.06 0.83 5.87 8.18 3.17 5.86 10.49 12.88 4.39 5.75 9.57
Tax % 45.65% 28.64% 30.12% 33.05% 33.01% 30.91% 35.84% 25.93% 25.70% 25.97% 26.09% 20.06%
Net Profit 4.44 1.46 0.58 3.93 5.47 2.18 3.76 7.77 9.57 3.25 4.25 7.65
EPS in Rs 1.60 0.53 0.21 1.42 1.97 0.79 1.36 2.80 3.44 1.17 1.53 2.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
62 75 87 125 161 175 169 203 201 205 260 284 265
62 69 79 115 154 164 165 192 189 193 240 247 231
Operating Profit 1 6 8 10 8 10 4 11 13 12 20 37 34
OPM % 1% 8% 9% 8% 5% 6% 2% 5% 6% 6% 8% 13% 13%
Other Income 1 1 1 2 3 2 3 2 2 2 1 1 3
Interest 4 4 5 3 2 2 1 0 2 0 1 2 1
Depreciation 1 2 2 2 3 3 3 3 3 3 3 4 3
Profit before tax -3 1 2 7 5 8 3 10 10 10 17 32 33
Tax % 52% 30% 38% 7% 0% 0% 33% 15% -2% 52% 32% 28%
Net Profit -2 1 1 7 5 8 2 9 10 5 11 23 25
EPS in Rs -1.00 0.56 0.52 2.41 1.93 2.79 0.65 3.16 3.58 1.78 4.12 8.38 8.89
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 28% 24% 14%
Compounded Sales Growth
10 Years:14%
5 Years:11%
3 Years:12%
TTM:-4%
Compounded Profit Growth
10 Years:37%
5 Years:67%
3 Years:33%
TTM:29%
Stock Price CAGR
10 Years:4%
5 Years:0%
3 Years:-1%
1 Year:50%
Return on Equity
10 Years:7%
5 Years:8%
3 Years:9%
Last Year:15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
10 11 17 17 28 28 28 28 28 28 28 28 28
Reserves -4 1 37 43 78 85 87 96 107 112 122 143 147
Borrowings 32 35 36 28 14 16 1 0 0 4 3 13 0
20 12 21 25 25 33 37 46 49 53 68 80 86
Total Liabilities 57 59 111 113 144 163 152 170 183 196 221 264 261
19 19 19 29 31 32 30 27 25 25 24 28 26
CWIP 0 0 2 0 0 0 0 0 1 0 0 0 0
Investments 0 0 0 0 0 0 0 0 5 0 2 2 2
37 40 90 84 113 130 122 143 152 171 195 234 233
Total Assets 57 59 111 113 144 163 152 170 183 196 221 264 261

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
0 1 4 -6 1 -14 19 -3 -5 -15 5 10
-2 -1 -6 -13 -24 15 2 6 -4 6 -3 -2
4 -1 38 -12 25 1 -17 -0 -1 3 -3 3
Net Cash Flow 2 0 36 -30 2 1 4 2 -9 -6 -0 11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 1% 14% 11% 11% 8% 8% 3% 9% 9% 7% 12% 20%
Debtor Days 108 107 117 110 96 122 123 136 165 191 175 165
Inventory Turnover 5.52 6.26 5.12 4.27 4.55 3.93 3.43 4.40 3.93 3.45 4.80 4.52

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
54.65 54.65 54.58 54.58 54.58 54.58 54.51 54.51 54.51 54.51 54.51 54.40
0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.55 0.46 0.00 0.00
45.35 45.35 45.42 45.42 45.42 45.42 45.47 45.48 44.93 45.03 45.48 45.60

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