Mahindra EPC Irrigation FY26 profit after tax up 76% to ₹12.69 crore; revenue hits ₹315.79 crore
Mahindra EPC Irrigation delivered its strongest year ever in FY26, with profit after tax leaping 76% to ₹12.69 crore even as rainfall and subsidy delays tested the industry.
- ₹315.79 crore
- 14.5%
- ₹12.69 crore
- 76%
What Happened
Mahindra EPC Irrigation Ltd., a Mahindra Group provider of end-to-end irrigation and water management solutions, announced results for the fiscal year ended March 31, 2026. Revenue rose 14.5% to ₹315.79 crore from ₹275.09 crore a year earlier, the company's highest-ever annual revenue. Profit before tax climbed 58.5% to ₹16.99 crore, and profit after tax jumped 76% to ₹12.69 crore.
- ₹315.79 crore vs ₹275.09 crore (+14.5%)
- ₹16.99 crore vs ₹10.71 crore (+58.5%)
- ₹12.69 crore vs ₹7.21 crore (+76%)
The company attributed the growth to focused market development, a deliberate shift toward non-subsidy business, enhanced financial prudence, and continued investments in organizational capabilities. These gains came despite delayed fund releases by nodal agencies, uneven and excessive rainfall in key regions, and late-year geopolitical effects on input costs and sentiment. Mahindra EPC said it consciously calibrated operations in certain core states to manage concentration risk and strengthen internal processes, and built a robust work-order pipeline for irrigation projects to support future growth.
- GST on micro-irrigation systems cut from 12% to 5%
- Increased government focus on expanding micro-irrigation coverage
- Renewed activity in key states
- Emergence of new markets
- Company monitoring global geopolitical developments and the upcoming monsoon season
Looking ahead, Mahindra EPC is monitoring global geopolitical developments and the upcoming monsoon season and recalibrating its market strategy accordingly. With the reduction in GST on micro-irrigation systems from 12% to 5%, increased government focus on expanding micro-irrigation coverage, renewed activity in key states, and the emergence of new markets, the micro-irrigation industry is expected to witness steady growth in the coming years.
Why this matters
Mahindra EPC Irrigation's results show that an irrigation equipment maker can grow profitably by building business independent of government subsidies, even when rainfall is uneven and subsidy fund releases are delayed. That matters to farmers and the wider Indian agriculture market because the industry is expected to keep expanding, helped by a GST cut on micro-irrigation systems and greater government focus on expanding irrigation coverage.
Terms in This Story
- Profit before tax (PBT)
- A company's earnings before income tax is deducted.
- Profit after tax (PAT)
- A company's earnings after all taxes are paid, also called net profit.
- Micro-irrigation
- A water-efficient method of delivering water directly to plant roots, such as drip or sprinkler systems.
- GST
- Goods and Services Tax, a consumption tax on goods and services in India.
Summarised from the linked release; details can be imperfect — always verify against the original source.