SEPC Limited announced its consolidated financial results for the first quarter ended June 30, 2026 (Q1 FY27) pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

  • Total Income stood at ₹282 crore in Q1 FY27, representing 40% year-on-year growth from ₹202 crore in Q1 FY26
  • EBITDA was ₹26 crore with an EBITDA margin of 9.2%, compared to ₹30 crore and 14.9% margin respectively in Q1 FY26
  • Net loss of ₹11 crore compared to net profit of ₹17 crore in Q1 FY26
  • Management attributed margin pressure to execution-phase impacts on specific overseas contracts

Order Book Status (as at June 30, 2026)

  • Total orders on hand: ₹10,670 crore
  • Domestic order book: ₹5,270 crore
  • International order book: ₹5,400 crore (spanning Uzbekistan and Saudi Arabia)

Domestic Order Book Diversification

  • Mining: ₹2,796 crore
  • Water: ₹699 crore
  • Industrial EPC: ₹681 crore
  • Power: ₹607 crore
  • Construction: ₹366 crore
  • Roads: ₹89 crore
  • Oil & Gas: ₹32 crore

Recent Order Wins

  • Won three orders at SAIL's IISCO Burnpur Steel Plant:
  • Sinter Plant BOP package: ₹423.29 crore
  • Coke Oven BOP package: ₹350.28 crore
  • 4.2 MTPA Pellet Plant BOP package: ₹952.19 crore (received in August 2026, over and above the order book)

Pipeline Visibility

  • Bids under active evaluation: ₹1,280 crore in Water & Infrastructure
  • Bids under active evaluation: ₹3,060 crore in Industrial EPC

Strategic Developments

  • Board and shareholder approvals completed for proposed acquisition of Avenir International
  • Transaction awaits exchange and lender approvals
  • Acquisition expected to strengthen SEPC's overall delivery capabilities

Capital Structure Update

  • Company has substantially utilized proceeds from recent rights issue
  • Funds deployed towards debt repayment, NCD redemption, and working capital requirements
  • Deployment in line with stated objects of the issue

Management Commentary

Mr. Venkataramani Jaiganesh, Managing Director, stated: "Q1 FY27 marked a strong start to the year, with revenue growing 40% year-on-year, reflecting continued execution across our diversified order book. While margins remained under pressure in select international projects during the quarter, our focus remains on disciplined execution, cost optimisation and improving project-level profitability as these projects progress."

He further added: "Our order book continues to provide a strong foundation for growth, with a healthy mix across water, mining, industrial EPC, power, construction, roads and oil & gas. The recent wins from SAIL, including the 4.2 MTPA Pellet Plant BOP project, further strengthen our position in the metals and mining segment and add to the momentum in our domestic business."

Company Background

SEPC Limited (formerly Shriram EPC Limited) is an EPC company offering turnkey solutions across Water & Wastewater, Roads, Industrial Infrastructure, and Mining sectors. The company specializes in design, procurement, construction, and commissioning of large infrastructure projects across India.

FY26 Performance Reference

  • FY26 Total Income: ₹1,085.8 crore
  • FY26 EBITDA: ₹108.9 crore
  • FY26 Net Profit: ₹53.5 crore
  • FY25 Total Income: ₹646.0 crore
  • Net profit more than doubled over previous year