Financial Performance Overview
SEPC reported strong consolidated performance with revenue growth of 76.44% to ₹1,054.5 crore and PAT of ₹53.84 crore, while standalone revenue stood at ₹547.75 crore with PAT of ₹20.97 crore. The company maintains a robust order book of approximately ₹10,000 crore, including major contracts from SAIL worth over ₹1,500 crore for Coke Oven, Sinter Plant, and Pellet Plant packages.
Capital Structure and Corporate Actions
The company completed a significant ₹350 crore Rights Issue, issuing 35,00,00,000 partly paid-up Rights Equity Shares. Additionally, SEPC converted Compulsorily Convertible Debentures (CCDs) issued to Assets Care and Reconstruction Enterprise Limited, Central Bank of India, and Axis Bank Limited into equity shares, resulting in substantial changes to its capital structure and recognizing securities premium of ₹4,535.71 lakhs.
AGM Details and Voting Process
The 26th Annual General Meeting will be held virtually on September 28, 2026, with remote e-voting available from September 25-27, 2026 through CDSL. Shareholders will vote on adopting financial statements, reappointing Mr. Venkataramani Jaiganesh as director, ratifying cost auditor remuneration of ₹60,000, and appointing Ms. Vasuki K B K as Independent Director for a five-year term.
Auditor Qualifications and Asset Quality Concerns
Auditors issued qualified opinions regarding: 1) Recognition of deferred tax assets of ₹28,187.76 lakhs on carried-forward business losses of ₹80,665.52 lakhs, and 2) Recoverability of overdue contract assets of ₹9,037.98 lakhs and trade receivables of ₹5,844.92 lakhs from projects stalled due to regulatory approval delays and disputes, including one customer undergoing liquidation.
Regulatory Compliance and Legal Proceedings
The company faces several legal proceedings including an SIAC Arbitration case with awarded damages of ₹19,854.10 lakhs and an ECGC case where NCDRC directed payment of ₹26,501 lakhs (appeal pending in Supreme Court). Contingent liabilities total ₹8,537.03 lakhs for claims not acknowledged as debts, plus various tax demands and bank guarantees of ₹31,145.51 lakhs.
Signatories and Authentication
The Annual Report was certified by Company Secretary T. Sriraman and Chief Financial Officer R S Chandrasekharan, signed on May 25, 2026 at the company's registered office in Chennai. The financial statements were approved by the Board of Directors including Managing Director Venkataramani Jaiganesh and Chairman Abdulla Mohammad Ibrahim Hassan Abdulla.