MEMahindra EPC Irrigation523754Quarterly results

Board approves unaudited Q2 and H1 FY27 results; limited review report cites no material misstatement

Board approved the un-audited standalone and consolidated results for the quarter and half year ended September 30, 2026, after the Audit Committee reviewed them.

By ScoutQuest · Thu 15 Oct 2026, 6:15 PM IST · 2 min read

Total Income YoY Growth

50.40 (+44.7%)

Profit After Tax YoY Growth

2.23; Year ago 0.43 (+419%)

Period

30-Sep-26

What the Board approved

• The Board of Directors met on October 15, 2026, from 3.15 p.m. to 4.15 p.m., and approved the un-audited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, along with the limited review reports on both.
• The results were reviewed by the Audit Committee and then approved by the Board.

Results at a glance (standalone, Rs. in Crores)

• Revenue from operations for the quarter ended 30-Sep-26: 72.65, against 49.58 for the quarter ended 30-Sep-25.
• Total income: 72.95, against 50.40.
• Profit before tax: 2.96, against 0.58.
• Profit after tax: 2.23, against 0.43.
• For the six months ended 30-Sep-26: Revenue from operations 126.81 (30-Sep-25: 111.62), Total income 127.41 (112.57), Profit before tax 0.11 (1.89) and Profit after tax 0.09 (1.41).
• Basic earnings per share for the quarter: 0.80, against 0.15; for the six months: 0.03, against 0.50. The per-share figures are marked "not annualised".
• For the year ended 31-Mar-26 (audited): Revenue from operations 312.09 and Profit after tax 12.69, shown for context.

Auditor's review conclusion

• B S R & Co. LLP, Chartered Accountants, state that based on their review, nothing has come to their attention that causes them to believe the statement has not disclosed the information required under Regulation 33 or that it contains any material misstatement.
• The report records that a review is substantially less in scope than an audit and that no audit opinion is expressed.

Balance sheet snapshot (standalone, as at 30-Sep-26 vs 31-Mar-26, Rs. in Crores)

• Total assets 345.40, against 351.67.
• Total equity 184.97, against 185.05.
• Inventories 49.21, against 36.73; current trade receivables 192.21, against 216.92.
• Current borrowings 43.15, against 45.21.

Cash flow (six months ended 30-Sep-26 vs 30-Sep-25)

• Net cash generated from operating activities 5.17, against (10.34) as printed.
• Net cash used in investing activities (0.82), against (0.89).
• Net cash used in financing activities (3.85), against 9.63 generated.
• Cash and cash equivalents at the end of the period 0.53, against 0.09.

Consolidated statement

• The consolidated results carry the same income, expense and profit figures as the standalone statement.
• The consolidated statement includes Mahindra Top Greenhouses Private Limited as a joint venture, and the share of profit/(loss) of the joint venture is nil for the quarter and the six months.
• The company reports a single operating segment, Precision Farming Products & Services.

How to read this

• These are the company's own un-audited figures for the quarter and half year, and the auditor's limited review conclusion is that nothing came to their attention indicating a material misstatement.
• A limited review relies on inquiries and analytical procedures, so it gives less assurance than a full audit; the report itself says no audit opinion is expressed.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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