Mahindra EPC FY26 Revenue Up 14.8% to ₹315.8 Crores

Mahindra EPC Irrigation reported FY26 revenue growth of 14.8% to ₹315.8 crores and PBT of ₹16.99 crores despite raw material price surge.
Non-subsidy business contribution reached 35% of total revenue, up from 3% in FY20, improving working capital dynamics.
Company faces industry-wide receivables challenge of ₹217 crores, primarily from subsidy states, but expects imminent collections.
Management outlined strategy to mitigate raw material volatility through product/geography mix and pursue growth in irrigation projects.