NSE: MAHEPC | BSE: 523754

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Mahindra EPC Irrigation Ltd. share price target and research reports

Name: Latest research reports of Mahindra EPC Irrigation Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Mahindra EPC Irrigation Ltd.
Rating: 3
Author: ICICI Securities Limited

Latest analyst research reports with target prices and PDF download for MAHEPC, BSE:523754 Mahindra EPC Irrigation Ltd.

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Mahindra EPC Irrigation Ltd.

15 Nov 2018

110.91

-6.53%

EPC Industrie

Not Rated: Mahindra EPC Irrigation Ltd.

ICICI Securities Limited

P/L growth is largely missing due to company specific as well as industry specific headwinds in the past. Its net sales have hovered in the range of ~| 160-200 crore in a six-year time frame i.e. FY13-18. A large part of it was owing to inefficient subsidy release mechanisms or switching over to new subsidy mechanisms in key states, thereby resulting in high uncertainty and unpredictability. Even on the margin front, the performance has been sub-par with EBITDA margins in the range of ~56% thereby resulting in dismal profitability at the PAT level. PAT in FY1318 has been in the range of ~| 5-10 crore. Therefore, given election in key states as well as Centre and tracking EPC's performance, there is...

Mahindra EPC Irrigation has lost -34.03% in the last 6 Months

Mahindra EPC Irrigation Ltd.

29 Jun 2018

110.91

-6.53%

EPC Industrie

Hold: Mahindra EPC Irrigation Ltd.

Recommendation Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research EPC Industrie (EPC) reported a robust Q4FY18 performance Net sales for the quarter came in at | 76.3 crore, up 37.7% YoY. EBITDA in Q4FY18 was at | 8.7 crore with corresponding EBITDA margins at 11.5%, up 250 bps YoY. PAT in Q4FY18 was at | 4.5 crore vs. | 3.3 crore in the base quarter (Q4FY18) For full year FY18, EPC clocked sales at | 204.6 crore, EBITDA at | 12.2 crore (EBITDA margins at 6.0%) and PAT at | 4.9 crore. FY18...

Mahindra EPC Irrigation Ltd. is trading below all available SMAs

Mahindra EPC Irrigation Ltd.

16 Jan 2018

110.91

-6.53%

EPC Industries LTD.

Buy: Mahindra EPC Irrigation Ltd.

Choice India

Valuation: On the valuation front, at CMP Rs. 192.7, the company is trading at a TTM P/E multiple of 83.5x as compared to the peer average of 49.6x, whereas the TTM EV/EBITDA multiple is 73.9x as compared to the peer average of 37.0x. After considering all these factors and high probability of strong growth in the future we...

Mahindra EPC Irrigation Ltd. is trading below all available SMAs

Mahindra EPC Irrigation Ltd.

29 Sep 2017

110.91

-6.53%

EPC Industrie

Buy: Mahindra EPC Irrigation Ltd.

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research EPC Industrie (EPC) in a latest press release has disclosed registration as a recognised micro-irrigation player in the state of Maharashtra for a period of 5 years (up to Sep 2022). The said order supersedes the ban imposed on the company dated July 2016 and now makes it eligible to participate in the state government administered micro irrigation subsidy scheme. EPC has also indicated a loss of sales for the company as well as industry in the month of July 2017 due to transition towards GST and pending...

Mahindra EPC Irrigation has lost -34.03% in the last 6 Months

Mahindra EPC Irrigation Ltd.

31 Jul 2017

110.91

-6.53%

EPC Industrie

Buy: Mahindra EPC Irrigation Ltd.

Target

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research We attended the AGM of EPC Industrie (EPC) at Nashik on July 28, 2017 and met the senior management to improve our understanding on the company and domestic micro irrigation industry (MIS), in general. We were impressed by the management's vision to catapult EPC into the top three MIS player by 2020 amid robust domestic opportunity (penetration at ~8 million hectares vs. medium term potential of ~17 million hectares). The performance of EPC in FY17 was muted primarily on account of deregistration in its key state of Maharashtra, which would have otherwise...

Mahindra EPC Irrigation has lost -34.03% in the last 6 Months

Mahindra EPC Irrigation Ltd.

29 May 2017

110.91

-6.53%

EPC Industrie Q4FY17 Result Update

Buy: Mahindra EPC Irrigation Ltd.

Target

BOB Capital Markets Ltd.

EPC Industrie Ltd., (EPC) reported subdued 4QFY17 result. The revenue stood at Rs 556mn with a growth of -2.2%/9% YoY/QoQ, respectively. EBITDA stood at Rs 50mn a YoY / QoQ growth of -0.3% /44.5%, respectively. The company posted Adj. PAT of Rs.33mn, degrowth of ~17% YoY on account of higher depreciation (YoY growth of...

Mahindra EPC Irrigation Ltd. is trading below all available SMAs

Mahindra EPC Irrigation Ltd.

03 May 2017, 12:00AM

110.91

-6.53%

EPC Industrie

Buy: Mahindra EPC Irrigation Ltd.

ICICI Securities Limited

EPC Industrie (EPC) is a micro-irrigation system (MIS) player manufacturing drip and sprinkler irrigation system domestically EPC has a promoter pedigree of the M&M; group, which is a leading farm equipment player with a good brand recall Of the total MIS industry size of ~| 4000 crore, EPC realises sales of ~| 200 crore, thereby commanding a market share of ~5% FY14-17 has been largely muted for EPC given distress in the rural economy amid deficient monsoons in 2014 & 2015 and change in...

Mahindra EPC Irrigation Ltd. is trading below all available SMAs

Mahindra EPC Irrigation Ltd.

01 Aug 2016

110.91

-6.53%

EPC Industrie Q1FY17 result update

Buy: Mahindra EPC Irrigation Ltd.

BOB Capital Markets Ltd.

As per the management, the potential MIS in India is estimated to be ~69mn hectares with the current penetration level of ~7.7%. EPC holds 4th position in this industry where it aims to be among top 3 players in next 2-3 years. MIS is majorly a subsidy driven business where schemes like PMKSY (Pradhan Mantri Krishi Sinchayni Yojana; where the Govt. will be spending Rs 500bn over 5 years) plays an important...

Mahindra EPC Irrigation Ltd. is trading below all available SMAs

Is Mahindra EPC Irrigation Ltd. worth buying?

57 Votes:

Buy 78.95%

Sell 17.54%

Hold 3.51%