Raw material price volatility
Geopolitical tensions caused a 58-59% spike in PE pipe prices in March 2026, impacting Q4 margins. Management sees this as a key risk for FY27.
MAHINDRAEPCIRRIGATION / Q4-FY26 / risks
Keep the risk register visible.
Mahindra EPC Irrigation · Material risks, their source context, and severity in the latest available quarter.
Research layer active
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Risk intelligence
Material risks this quarter
high
State government payment delays
Delayed fund releases from key states led to a buildup of receivables (₹217 crore, 85-90% from subsidy business), pressuring cash flows.
Below-normal monsoon impact
Predicted below-normal monsoon (90-92% of LPA) could affect demand in H2 FY27, though groundwater availability may offset.
Inability to pass on cost increases in subsidy business
Price increases in the subsidy segment require government approval, which is uncertain and may lag raw material cost changes.