SEPC Ltd.

•

sepc.inBSE: 532945NSE: SEPC

Market Cap₹ 1,027 Cr.

Current Price

High / Low₹ 14 / 5

Stock P/E39.6

Book Value₹ 10

Price to Book1.53

Dividend Yield0.00 %

ROCE5.3 %

ROE1.9 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2017 • Construction Contracts: 100.0%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Operating margins have improved to 10.7% from -7.9%
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (137.5% of PBT)
Recent results are weak - TTM profit is down 51.2% versus prior year
Promoter holding has decreased over last 2 years: -26.0pp
Company has a low return on equity of 1.1% over last 3 years
Company has a low return on capital employed of 5.3%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	30.30	-77.95	2671.00	-20.75	12.88	9.42
12.	SEPC	5.28	39.60	1027.23	0.00	-11.05	-166.79	273.80	35.36	5.31	6.30

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	143	129	141	148	176	171	133	118	202	237	341	274	274
	130	121	143	141	152	163	130	103	174	227	312	264	269
Operating Profit	13	8	-2	7	24	8	3	15	28	11	29	10	4
OPM %	8.92%	6.58%	-1.32%	4.63%	13.76%	4.49%	2.56%	12.98%	13.96%	4.46%	8.38%	3.72%	1.64%
	3	10	20	14	2	11	13	8	2	14	0	15	9
Interest	9	11	11	13	13	10	9	12	9	12	10	9	11
Depreciation	1	1	1	1	1	1	1	1	1	1	1	1	1
Profit before Tax	5	6	6	7	13	7	6	10	19	11	17	15	13
Tax %	0.00%	0.00%	0.00%	0.00%	36.28%	66.76%	20.43%	0.00%	13.12%	23.15%	14.32%	7.67%	183.92%
Net Profit	0	0	0	0	8	2	4	10	17	8	15	14	-11
	0.04	0.04	0.04	0.05	0.06	0.02	0.03	0.06	0.11	0.04	0.08	0.07	-0.06

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	548	744	829	1,202	1,208	583	329	379	561	598	1,126
	519	724	803	1,109	1,189	641	367	438	630	533	1,072
Operating Profit	28	20	26	92	19	-58	-37	-59	-69	64	54
OPM %	5.16%	2.69%	3.09%	7.69%	1.55%	-9.96%	-11.31%	-15.66%	-12.22%	10.74%	4.78%
	46	84	105	70	25	12	-52	158	148	34	37
Interest	272	311	114	125	115	126	125	67	52	58	43
Depreciation	7	6	6	6	6	6	6	6	5	5	5
Profit before Tax	-204	-213	11	31	-77	-178	-221	25	23	35	56
Tax %	-0.00%	35.45%	118.36%	2.74%	-0.00%	-0.69%	-19.36%	119.37%	0.00%	29.39%	53.93%
Net Profit	-204	-137	-2	31	-77	-179	-264	-5	23	25	26
EPS	-8.95	-2.44	-0.02	0.32	-0.79	-1.85	-2.71	-0.04	0.16	0.16	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 1%
5 Years:: -13%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: -13%
5 Years:: 3%
3 Years:: -23%
1 Year:: -56%

RETURN ON EQUITY

10 Years:: -43%
5 Years:: -9%
3 Years:: 1%
Last Year:: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	331	937	972	972	972	972	972	1,322	1,410	1,564
Minority Interest	0	0	1	1	1	1	1	2	2	2
	60	204	257	288	212	32	-234	-235	-200	-128
	2,140	1,025	1,002	896	840	882	915	468	535	404
Trade Payables	205	256	444	539	438	340	340	380	304	411
	288	27	71	-128	-282	-231	-149	-281	-189	-202
Total Liabilities	3,024	2,448	2,747	2,568	2,182	1,995	1,845	1,654	1,861	2,050
	55	61	56	55	51	45	41	36	31	26
Capital Work in Progress	10	0	0	0	0	0	0	0	0	0
	5	1	1	1	1	1	1	0	1	0
	45	38	38	38	3	2	0	0	0	0
	0	0	0	0	0	0	0	0	300	368
Cash & Bank	51	101	61	112	61	37	30	50	61	49
	2,857	2,247	2,592	2,362	2,066	1,910	1,774	1,567	1,469	1,606
Total Assets	3,024	2,448	2,747	2,568	2,182	1,995	1,845	1,654	1,861	2,050

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-147	-4	34	296	-2	-46	-53	22	-121	-133
Cash from Investing	47	-6	21	-38	40	21	1	12	-24	4
Cash from Financing	82	35	-81	-257	-52	25	68	-6	130	118
	-22	42	-32	7	-19	-4	-3	27	-15	-11

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	37.64	33.94	33.37	33.37	27.35	27.35	26.53	18.67	11.67
	0.65	0.76	0.64	0.65	0.68	0.62	0.60	0.96	1.04
	24.93	19.00	19.15	19.14	15.75	14.52	14.55	13.91	13.91
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	36.78	46.30	46.84	46.84	56.22	57.51	58.32	66.47	73.38

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-05

Shareholders meeting

2026-09-05 - We hereby inform the exchange of the Notice of the 26th Annual General Meeting of the Company for the Financial Year 2025-26 scheduled to be held on September 28, 2026 at 10:30 A.M. Detailed Letter is enclosed.

2026-08-26

Press Release

2026-08-26 - We hereby informed the exchange of the press release titled " SEPC Receives In-Principle Approval to Enter UAE Petroleum Trading with 100% Acquisition of Wintality Petroleum FZE". Detailed letter is enclosed.

2026-08-25

Outcome of Board Meeting

2026-08-25 - We herewith enclose the Outcome of the Board Meeting held today i.e., August 25, 2026. Detailed letter is enclosed.

2026-08-14

Monitoring Agency Report

2026-08-14 - We herewith enclosed the Monitoring Agency Report for the Quarter ended June 30, 2026. Detailed letter is enclosed.

2026-08-13

Resignation of Director/KMP/SMP

2026-08-13 - SEPC Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-13

Resignation of Director/KMP/SMP

2026-08-13 - SEPC Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-13

Resignation

2026-08-13 - We hereby inform the Exchange regarding Resignation of Mr. Rajesh Kumar Bansal, Non- Executive- Independent Director of the company w.e.f. August 13, 2026. Detailed letter is enclosed.

2026-08-12

Press Release

2026-08-12 - We hereby informed the Exchange of the press release titled "SEPC Reports 40% YoY Revenue Growth in June Quarter Despite Overseas margin Headwinds". Detailed letter is enclosed.

2026-08-11

Outcome of Board Meeting

2026-08-11 - We enclose the Unaudited Standalond and Consolidated Financial Results for the quarter ended June 30, 2026. Detailed letter is enclosed.

News

Recent coverage and analyst commentary for SEPC

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SEPC Ltd.

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Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

30.30

-77.95

2671.00

-20.75

12.88

9.42

SEPC

5.28

39.60

1027.23

0.00

-11.05

-166.79

273.80

35.36

5.31

6.30

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

143

129

141

148

176

171

133

118

202

237

341

274

130

121

143

141

152

163

130

103

174

227

312

264

269

Operating Profit

-2

OPM %

8.92%

6.58%

-1.32%

4.63%

13.76%

4.49%

2.56%

12.98%

13.96%

4.46%

8.38%

3.72%

1.64%

Interest

Depreciation

Profit before Tax

Tax %

0.00%

36.28%

66.76%

20.43%

0.00%

13.12%

23.15%

14.32%

7.67%

183.92%

Net Profit

-11

0.04

0.05

0.06

0.02

0.03

0.06

0.11

0.04

0.08

0.07

-0.06

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

548

744

829

1,202

1,208

583

329

379

561

598

1,126

519

724

803

1,109

1,189

641

367

438

630

533

1,072

Operating Profit

-58

-37

-59

-69

OPM %

5.16%

2.69%

3.09%

7.69%

1.55%

-9.96%

-11.31%

-15.66%

-12.22%

10.74%

4.78%

105

-52

158

148

Interest

272

311

114

125

115

126

125

Depreciation

Profit before Tax

-204

-213

-77

-178

-221

Tax %

-0.00%

35.45%

118.36%

2.74%

-0.00%

-0.69%

-19.36%

119.37%

0.00%

29.39%

53.93%

Net Profit

-204

-137

-2

-77

-179

-264

-5

EPS

-8.95

-2.44

-0.02

0.32

-0.79

-1.85

-2.71

-0.04

0.16

—

Dividend Payout %

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

331

937

972

1,322

1,410

1,564

Minority Interest

204

257

288

212

-234

-235

-200

-128

2,140

1,025

1,002

896

840

882

915

468

535

404

Trade Payables

205

256

444

539

438

340

380

304

411

288

-128

-282

-231

-149

-281

-189

-202

Total Liabilities

3,024

2,448

2,747

2,568

2,182

1,995

1,845

1,654

1,861

2,050

Capital Work in Progress

300

368

Cash & Bank

101

112

2,857

2,247

2,592

2,362

2,066

1,910

1,774

1,567

1,469

1,606

Total Assets

3,024

2,448

2,747

2,568

2,182

1,995

1,845

1,654

1,861

2,050

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-147

-4

296

-2

-46

-53

-121

-133

Cash from Investing

-6

-38

-24

Cash from Financing

-81

-257

-52

-6

130

118

-22

-32

-19

-4

-3

-15

-11

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

37.64

33.94

33.37

27.35

26.53

18.67

11.67

0.65

0.76

0.64

0.65

0.68

0.62

0.60

0.96

1.04

24.93

19.00

19.15

19.14

15.75

14.52

14.55

13.91

Government

0.00

36.78

46.30

46.84

56.22

57.51

58.32

66.47

73.38

SEPC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

SEPC Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI