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📊 Last 7 days — analysed filings by sentiment
Note: These are AI-generated, educational summaries of public NSE
filings — grounded in each document, but not investment advice and possibly incomplete.
Verify against the original filing and consult a SEBI-registered adviser before acting.
58 announcements match the current filters (relevance ≥ 5).
SEPC Limited FY26 Net Profit Surges 115% to ₹53.5 Cr; Order Book Hits ₹10,000 Cr
SEPC Limited reported a strong financial performance for FY26, with total revenue growing 68.08% YoY to ₹1,085.84 crore. Net profit more than doubled, reaching ₹53.54 crore compared to ₹24.84 crore in the previous fiscal year, driven by robust execution in water and infrastructure segments. The company boasts a record order book of approximately ₹10,000 crore, providing significant multi-year revenue visibility. Furthermore, the strategic acquisition of a 90% stake in Avenir International Engineers and Consultants LLC is expected to enhance technical capabilities and global reach.
Key Highlights
FY26 Total Revenue increased by 68.08% YoY to ₹1,085.84 crore
Net Profit for the full year surged by 115.53% to ₹53.54 crore
Order book stands at a record ~₹10,000 crore, ensuring long-term revenue visibility
Q4 FY26 revenue saw a massive 129.12% YoY jump to ₹288.95 crore
Strategic acquisition of 90% stake in Avenir International Engineers and Consultants LLC
👀 What to Watch
Investors should monitor the company's execution efficiency on its massive ₹10,000 crore order book and the margin impact of the new acquisition. The significant turnaround in profitability and revenue growth makes it a strong candidate for long-term infrastructure sector exposure.
SEPC Reports FY26 Results; Auditors Issue Qualified Opinion on ₹281 Cr Deferred Tax Assets
SEPC Limited has released its audited financial results for the fiscal year ended March 31, 2026. The statutory auditors have issued a qualified opinion, raising concerns over the carrying value of Deferred Tax Assets (DTA) amounting to ₹28,187.76 lakhs. Furthermore, the auditors highlighted overdue contract assets and trade receivables totaling approximately ₹14,882.90 lakhs related to stalled projects. These qualifications suggest potential risks to the company's balance sheet strength and future profitability if these assets are not realized.
Key Highlights
Auditors issued a qualified opinion on Deferred Tax Assets (DTA) worth ₹28,187.76 lakhs recognized on losses of ₹80,665.52 lakhs.
Overdue non-current contract assets of ₹9,037.98 lakhs and trade receivables of ₹5,844.92 lakhs are linked to stalled or disputed projects.
The company reported a consolidated net profit for FY26, though specific profit figures were not detailed in the summary report.
Four joint operations included in the consolidated results remained unaudited, contributing a net loss of ₹137.34 lakhs.
The auditor's report indicates a lack of sufficient evidence to support management's assessment of future taxable profits for DTA utilization.
👀 What to Watch
Investors should remain cautious as the auditor's qualification on nearly ₹282 crore of tax assets and ₹149 crore of receivables indicates significant valuation risk. Closely monitor management's plan for project execution and their ability to generate sufficient taxable income to justify the current asset values.
SEPC Limited: MOIL Cancels ₹230 Crore Work Order; ₹50 Lakh EMD Forfeited
SEPC Limited has announced the cancellation of a major work order worth ₹230 crores by MOIL Limited, a government undertaking. The contract, originally disclosed in December 2025, was for the turnkey construction of a vertical shaft. As a result of the cancellation, the company's Earnest Money Deposit (EMD) of ₹50 lakhs has been forfeited. No work had been executed on the project prior to this termination.
Key Highlights
Cancellation of ₹230 crore turnkey project from MOIL Limited
Forfeiture of ₹50 lakhs Earnest Money Deposit (EMD)
Zero execution progress recorded since the order award in December 2025
Project involved design and construction of a 3rd Vertical Shaft
👀 What to Watch
Investors should exercise caution as the loss of this contract impacts the company's revenue visibility and order book strength. Monitor for any management commentary regarding the reasons behind the cancellation.
SEPC-Furlong JV Secures EPC Sub-contract Worth Rs 521.46 Crore in Uttar Pradesh
SEPC Limited's joint operation, SEPC-Furlong JV, has secured a significant EPC sub-contract from Shalimar Corp Limited (SCL). The project involves the widening and upgradation of the Shahjahanpur – Bisalpur road section in Uttar Pradesh to a four-lane configuration. The contract is valued at Rs 521.46 crore and will be executed on a lump-sum turnkey basis. This contract win significantly bolsters SEPC's order book and provides strong revenue visibility for the upcoming fiscal periods.
Key Highlights
SEPC-Furlong JV signed an EPC sub-contract with Shalimar Corp Limited (SCL) for road infrastructure.
Total contract value is Rs 521.46 crore on a lump-sum turnkey basis.
Project involves widening and upgradation of the Shahjahanpur – Bisalpur section to four lanes.
The Letter of Award (LOA) was officially received and recorded on May 14, 2026.
👀 What to Watch
Investors should view this as a positive development for the company's order book and monitor the execution progress to ensure timely revenue recognition. The stock may see positive momentum given the substantial size of the contract relative to the company's market position.
SEPC Converts 2.42 Crore Partly Paid-up Shares to Fully Paid-up Following Call Money Receipt
SEPC Limited has approved the conversion of 24,236,652 partly paid-up equity shares into fully paid-up equity shares. This conversion follows the receipt of the first and final call money from shareholders as per the Rights Issue terms. Notably, the company received payments for only about 49% of the 49,291,505 outstanding partly paid-up shares during this notice period. The action follows a final reminder-cum-forfeiture notice issued in April 2026.
Key Highlights
Conversion of 24,236,652 partly paid-up shares into fully paid-up equity shares approved.
Call money received for approximately 49.17% of the total 49,291,505 outstanding partly paid-up shares.
The shares were originally allotted pursuant to a Rights Issue dated May 22, 2025.
The conversion follows the First and Final Reminder Cum Forfeiture Notice issued on April 13, 2026.
👀 What to Watch
Investors should monitor the company's total paid-up capital changes and be aware that shares for which call money remains unpaid may face forfeiture. No immediate trading action is required for existing fully paid-up shareholders.
SEPC Gets Interim Relief: Court Allows ₹2 Cr for Salaries Amid ₹154 Cr Asset Attachment
The Madras High Court has issued an interim order partially modifying a previous attachment of ₹154.63 crore in SEPC's trade receivables. The company is now permitted to utilize ₹2 crore exclusively for salary payments, while a consortium of banks can appropriate ₹15.69 crore for dues under the approved resolution plan. SEPC maintains that it remains fully indemnified against the underlying arbitral award by Twarit Consultancy Services, suggesting no direct financial loss. The next hearing is scheduled for June 23, 2026, to further review the fund utilization and the source of quarterly payments.
Key Highlights
Court permits SEPC to utilize ₹2 crore from attached funds specifically for employee salaries.
Bank consortium allowed to appropriate ₹15.69 crore from the Trust & Retention Account for resolution plan dues.
Twarit Consultancy Services (JD1) ordered to deposit ₹2.5 crore with the High Court within 15 days.
SEPC claims zero financial impact due to a 2015 indemnification agreement covering the arbitral award.
The legal dispute involves a prior attachment of trade receivables totaling approximately ₹154.63 crore.
👀 What to Watch
Investors should monitor the June 23 hearing for updates on whether the remaining attachment on trade receivables will be lifted. While the indemnification agreement protects the bottom line, the ongoing legal restrictions on cash flow for operations remain a key risk factor.
SEPC Limited Receives SEBI Administrative Warning for Delayed Disclosures
SEPC Limited has received an Administrative Warning Letter from SEBI on May 4, 2026, regarding past compliance lapses. The warning specifically addresses the company's delayed disclosure of arbitration proceedings and a settlement agreement involving Hindustan Copper Limited. While this is an administrative warning rather than a financial penalty, it indicates a breach of SEBI (LODR) Regulations, 2015. The company has stated it will place the letter before its Board of Directors and is committed to improving its compliance framework.
Key Highlights
SEBI issued an Administrative Warning Letter dated April 30, 2026, received by the company on May 4, 2026.
The warning pertains to non-compliance regarding timely disclosure of arbitration and settlement with Hindustan Copper Limited.
The letter will be formally placed before the Board of Directors at its next meeting for review.
The company has committed to strengthening its internal compliance framework to prevent future delays.
👀 What to Watch
Investors should monitor the company for any further regulatory scrutiny or governance issues, as repeated warnings can lead to stricter penalties. The immediate financial impact is negligible, but it highlights a need for better transparency from management.
SEPC Issues Final Reminder for ₹5 Call Money on 4.93 Crore Partly Paid-Up Shares
SEPC Limited has issued a first and final reminder-cum-forfeiture notice for the payment of ₹5 per share on 4,92,91,505 outstanding partly paid-up equity shares. This call money pertains to the rights issue initiated in May 2025. The payment window is scheduled from April 15, 2026, to April 29, 2026. Shareholders who fail to pay the remaining amount by the deadline risk the forfeiture of their shares and any capital already paid towards them.
Key Highlights
Call money of ₹5.00 per share is due on 4,92,91,505 partly paid-up equity shares.
The payment period is strictly between April 15, 2026, and April 29, 2026.
Non-payment will result in the forfeiture of shares and the initial application money paid.
Successful payment will convert ₹5 partly paid-up shares into ₹10 fully paid-up equity shares.
Payment must be made electronically through the designated online portal using Net Banking or UPI.
👀 What to Watch
Holders of SEPC partly paid-up shares (ISIN: IN9964H01012) must ensure they pay the ₹5 call money by April 29, 2026, to prevent total loss of their investment through forfeiture. Verify the DP ID and Client ID on the Cameo Corporate Services portal before proceeding with the payment.
SEPC to Acquire 90% Stake in Abu Dhabi's Avenir for ~₹1,530 Crore via Share Swap
SEPC Limited has approved the acquisition of a 90% stake in Abu Dhabi-based Avenir International Engineers and Consultants LLC for approximately ₹1,530 crore through a share swap arrangement. This strategic move marks SEPC's entry into the high-growth Oil & Gas engineering sector and expands its footprint in the MENA region. Avenir brings a robust order book of AED 500 million and established relationships with major entities like ADNOC and DEWA. The acquisition is expected to be completed within six months, significantly diversifying SEPC’s portfolio from domestic EPC to global engineering services.
Key Highlights
Acquisition of 90% stake in Avenir valued at ~INR 1,530 crore via a share swap arrangement
Avenir holds a strong order book of approximately AED 500 million (~INR 1,135 crore)
Target revenue grew significantly from AED 31.91 million in FY22 to AED 73.93 million in FY24
Strategic entry into the Oil & Gas EPC and consulting ecosystem with ADNOC-approved vendor status
Transaction expected to close within six months, pending lender and shareholder approvals
👀 What to Watch
Investors should view this as a transformational growth step that diversifies revenue streams and improves margin potential. Monitor the dilution impact of the share swap and the progress of regulatory and lender approvals.
SEPC to Acquire 90% Stake in Abu Dhabi-based Avenir International for INR 1,530 Crores
SEPC Limited has approved the acquisition of a 90% stake in Avenir International Engineers and Consultants LLC, an Abu Dhabi-based firm specializing in Oil & Gas engineering. The acquisition is valued at approximately INR 1,530 Crores and will be executed through a share swap, preserving cash but leading to equity dilution. Avenir brings a strong presence in the MENA region with an order book exceeding AED 500 million and clients like ADNOC. This strategic move allows SEPC to diversify into high-value engineering design and project management consultancy.
Key Highlights
Acquisition of 90% stake in Avenir International for a valuation of INR 1,530 Crores.
Target company turnover grew from INR 71.92 Crores in 2022 to INR 171.89 Crores in 2024.
Consideration to be settled via share swap, subject to lender and shareholder approvals.
Avenir holds a robust order book of over AED 500 million with major Middle Eastern utility and oil giants.
Expected completion timeline for the transaction is within six months.
👀 What to Watch
Investors should monitor the upcoming details on the share swap ratio to assess the extent of equity dilution. While the acquisition adds high-margin capabilities and a strong international order book, the integration of this large-scale entity will be critical for long-term value creation.
SEPC Limited Credit Rating Downgraded to 'D' (Default) on Debt Servicing Delays
CRISIL has downgraded SEPC Limited's credit rating to 'D' (Default) from 'BB+/Negative' for its Rs. 890.15 crore bank facilities. The downgrade follows a default on a ~Rs. 6 crore interest payment due on February 28, 2026, and delays in clearing Letter of Credit dues. The liquidity crisis was exacerbated by a Madras High Court order attaching Rs. 154 crore of the company's receivables, leading lenders to freeze its Trust and Retention Account. While the company has Rs. 150 crore in liquidity from a recent rights issue, these funds are currently inaccessible due to the account freeze.
Key Highlights
Ratings for Rs. 890.15 crore of bank facilities downgraded to 'CRISIL D' due to interest payment defaults.
Madras High Court ordered attachment of Rs. 154 crore in receivables on Feb 19, 2026, causing lenders to freeze operational accounts.
Company reported a default on ~Rs. 6 crore term loan interest and delays of over 30 days in clearing LC dues.
Despite a robust order book of over Rs. 5,000 crore, working capital remains severely stretched due to slow government recoveries.
Promoters (Mark AB) have infused ~Rs. 60 crore as quasi-equity to date, but liquidity remains poor due to legal and operational hurdles.
👀 What to Watch
Investors should exercise extreme caution as a 'Default' rating indicates a high risk of insolvency and severely restricted access to future credit. Monitor the company's progress in unfreezing its accounts and resolving the legal dispute involving the Rs. 154 crore receivable attachment.
SEPC Credit Rating Downgraded to 'D' (Default) by CRISIL and Infomerics
SEPC Limited has experienced a severe credit rating downgrade from both CRISIL Ratings and Infomerics Valuation and Rating. Both agencies have moved the company's long-term and short-term bank facilities to a 'D' (Default) rating. Previously, CRISIL had rated the long-term facilities at 'BB+/Negative' and short-term at 'A4+'. This downgrade to 'D' signifies that the company has defaulted on its debt obligations or is expected to do so imminently, reflecting a critical liquidity crisis.
Key Highlights
CRISIL downgraded Long Term Bank Facilities from 'BB+/Negative' to 'D'
CRISIL downgraded Short Term Bank Facilities from 'A4+' to 'D'
Infomerics downgraded Long Term Bank Facilities from 'BB+/Negative' to 'IVR D'
Infomerics downgraded Short Term Bank Facilities from 'IVR 4+' to 'IVR D'
👀 What to Watch
Investors should exercise extreme caution as a 'D' rating indicates a default on financial obligations, which typically leads to significant stock price volatility and potential insolvency risks. It is advisable to evaluate the company's debt restructuring plans and liquidity position before maintaining any exposure.
SEPC Shareholders Approve Reallocation of ₹124.20 Cr Rights Issue Proceeds for Working Capital
SEPC Limited shareholders have approved a special resolution to vary the objects of the Rights Issue originally set in May 2025. The company will now utilize ₹124.20 crores for meeting existing and incremental working capital requirements, a significant shift in fund allocation. Meanwhile, ₹15.80 crores remains allocated for the repayment or redemption of Non-Convertible Debentures. The resolution was passed with an overwhelming 99.86% majority, indicating strong shareholder support for the management's operational funding strategy.
Key Highlights
Special resolution passed with 99.86% majority to vary Rights Issue objects.
₹124.20 crores reallocated to support existing and incremental working capital needs.
₹15.80 crores earmarked for repayment and redemption of Non-Convertible Debentures.
Total of 52.39 crore votes were polled, representing approximately 27.28% of total shares.
👀 What to Watch
Investors should track if this increased working capital leads to improved project execution and revenue growth in upcoming quarters. The shift suggests management is prioritizing operational liquidity over faster debt reduction.
SEPC Limited Announces Cancellation of Letter of Intent (LOI) by TCIL
SEPC Limited has received a formal communication from Telecommunications Consultants India Limited (TCIL) regarding the cancellation of a Letter of Intent (LOI) previously issued on February 07, 2026. The cancellation, dated March 03, 2026, comes less than a month after the initial project award was announced. This development represents a setback for the company's order book and future revenue visibility. SEPC has stated it is taking appropriate steps in the matter and will keep stakeholders informed of material developments.
Key Highlights
TCIL cancelled the LOI via communication dated March 03, 2026.
The original LOI was received by SEPC on February 07, 2026.
The cancellation occurred within 30 days of the initial project notification.
SEPC is currently evaluating appropriate steps to address the cancellation.
👀 What to Watch
Investors should monitor the stock for potential downward pressure following the loss of this contract and wait for management's clarification on the reason for cancellation.
SEPC Faces ₹154.63 Cr Receivable Attachment; Court Appoints PWC for Financial Audit
The Madras High Court has ordered the interim attachment of ₹154.63 crore of SEPC's trade receivables (out of ₹449.62 crore) and appointed PWC to conduct a financial audit by March 23, 2026. This stems from a decade-old dispute with GPE (India) Ltd, though SEPC maintains a neutral financial outlook due to an indemnity agreement with Twarit Consultancy Services. Twarit has already paid ₹164.5 crore toward the claim, and SEPC's lenders are intervening to protect their priority rights. Despite legal issues, SEPC reported strong 9M FY26 revenue of ₹796.89 crore, exceeding its full-year FY25 performance.
Key Highlights
Interim attachment of ₹154.63 crore in trade receivables out of a total reported ₹449.62 crore
PWC appointed to audit financial records and bank liabilities with a report due by March 23, 2026
Indemnity agreement with Twarit Consultancy Services covers liabilities; ₹164.5 crore already paid by them
9M FY26 revenue of ₹796.89 crore and PAT of ₹39.81 crore already surpass full-year FY25 results
Consortium of lenders has approached the court to protect priority rights as secured creditors
👀 What to Watch
Investors should closely monitor the PWC audit report due on March 23 for any potential impact on reported asset values. While the indemnity agreement provides a buffer, the attachment of 34% of receivables may create short-term working capital pressure.
Madras HC Orders Interim Attachment of ₹154.63 Cr Trade Receivables for SEPC Ltd
The Madras High Court has ruled that a foreign arbitral award against SEPC Limited is enforceable in India, arising from a 2015 Share Purchase Agreement dispute. As a result, the court has ordered an interim attachment of trade receivables worth ₹154.63 crore out of the company's total ₹449.62 crore receivables. Furthermore, the court has appointed an independent auditor to investigate the company's financial affairs and assets due to alleged inconsistencies in previous disclosures. This development follows a long-standing legal battle where the Supreme Court had previously directed a deposit of ₹125 crore.
Key Highlights
Madras High Court declared a foreign arbitral award (SIAC) enforceable as a court decree in India.
Interim attachment ordered for ₹154.63 crore in trade receivables, impacting roughly 34% of total receivables.
Independent Auditor/Audit Firm appointed to investigate SEPC's actual assets, receivables, and payables.
The legal dispute stems from non-honoring of Share Purchase Agreements dated September 28, 2015.
The attachment of funds will continue until the court-appointed auditor submits their final report.
👀 What to Watch
Investors should exercise extreme caution as the attachment of significant trade receivables could severely strain the company's working capital and liquidity. The appointment of an investigative auditor suggests potential risks regarding the transparency of the company's financial disclosures.
SEPC Reports Zero Deviation in Utilization of ₹350 Crore Rights Issue Proceeds
SEPC Limited has confirmed that there are no deviations in the utilization of the ₹350 crore raised through its Rights Issue as of December 31, 2025. The company has successfully utilized ₹160 crore for working capital requirements and allocated ₹118.76 crore towards the payment of Non-Convertible Debentures (NCDs). The Monitoring Agency, Infomerics Valuation and Rating Limited, verified that all funds were used in accordance with the objects stated in the Letter of Offer. This transparency reflects disciplined capital allocation and adherence to regulatory commitments.
Key Highlights
Confirmed zero deviation or variation in the utilization of ₹350 crore Rights Issue proceeds.
₹160 crore fully utilized for augmenting existing and incremental working capital requirements.
₹118.76 crore allocated towards the payment of Non-Convertible Debentures (NCDs) and interest.
Total gross proceeds received as of December 31, 2025, stand at ₹323.45 crore.
Monitoring Agency Report for Q3 FY26 confirms all expenditures align with the Letter of Offer.
👀 What to Watch
Investors should view the disciplined use of funds for debt repayment and working capital as a positive sign for the company's balance sheet health. Monitor if this capital infusion leads to improved project execution and revenue growth in upcoming quarters.
SEPC Limited Credit Rating Downgraded to IVR BB+ with Negative Outlook
Infomerics Valuation and Rating Ltd. has downgraded SEPC Limited's credit ratings for its bank facilities. The long-term rating was lowered from IVR BBB- (Stable) to IVR BB+ (Negative), and the short-term rating was revised from IVR A3 to IVR A4+. This downgrade signifies a transition to a non-investment grade, reflecting heightened credit risk. The negative outlook suggests that the rating agency remains concerned about the company's financial stability in the near term.
Key Highlights
Long-term bank facilities downgraded from IVR BBB- to IVR BB+ with a Negative outlook
Short-term bank facilities downgraded from IVR A3 to IVR A4+
The downgrade moves the company's debt into a speculative or non-investment grade category
The revision follows a previous rating update provided on September 8, 2025
👀 What to Watch
Investors should be wary of the increased financial risk and potential rise in interest costs for the company. It is advisable to monitor the company's debt-servicing capability and wait for signs of operational improvement before considering new positions.
SEPC Secures ₹314 Crore Smart Prepaid Metering Project in Punjab
SEPC Limited has received a Letter of Intent for a ₹313.96 crore Smart Prepaid Metering project in Punjab under the Revamped Distribution Sector Scheme (RDSS). The project will be executed on a DBFOOT (Design, Build, Finance, Own, Operate and Transfer) basis in consortium with Adya Smart Metering Private Limited. This win provides long-term revenue visibility and aligns with the company's strategy to build annuity-linked revenue streams. Notably, SEPC's 9M FY26 revenue of ₹796.89 crore has already surpassed its full-year FY25 revenue of ₹597.7 crore, indicating strong growth momentum.
Key Highlights
Total project value of ₹313.96 crore for smart metering infrastructure in Punjab.
Execution via DBFOOT model ensures long-term, annuity-based revenue visibility.
9M FY26 net profit of ₹39.81 crore already exceeds the full-year FY25 profit of ₹24.8 crore.
Consolidated revenue for 9M FY26 reached ₹796.89 crore, surpassing the FY25 total of ₹597.7 crore.
Project involves design, deployment, and long-term O&M for Punjab State Power Corporation Limited.
👀 What to Watch
Investors should view this as a positive development reflecting SEPC's successful turnaround and growing order book; however, monitor the capital requirements associated with the DBFOOT model.
SEPC 9M FY26 Net Profit Jumps 169% YoY, Surpasses Full-Year FY25 Performance
SEPC Limited reported a stellar performance for the first nine months of FY26, with revenue reaching ₹796.89 crore, already exceeding the total revenue of FY25 (₹597.7 crore). Net profit for 9M FY26 surged by 168.66% YoY to ₹39.81 crore, driven by strong execution in water, mining, and infrastructure segments. The company secured significant new orders, including a ₹230 crore project from MOIL and a massive ₹3,300 crore coal mining project as part of a consortium. Additionally, the settlement of arbitration with Hindustan Copper and new international orders in the UAE strengthen the balance sheet and growth outlook.
Key Highlights
9M FY26 revenue of ₹796.89 Cr grew 53.28% YoY, surpassing the entire FY25 revenue of ₹597.7 Cr
Net profit for 9M FY26 skyrocketed 168.66% YoY to ₹39.81 Cr with margins improving by 215 bps
Q3 FY26 revenue grew 114.12% YoY to ₹342.07 Cr, while PAT jumped 236.62% YoY
Major order wins include a ₹230 Cr MOIL project and a ₹3,300 Cr coal mining project via consortium
Successfully settled arbitration with Hindustan Copper, receiving ₹30.45 Cr and a ₹72.55 Cr supplementary order
👀 What to Watch
Investors should view this as a strong turnaround phase for SEPC, supported by a robust order book and significantly improved execution capabilities. Monitor the execution timeline of the large ₹3,300 crore coal mining project and the sustainability of the 5% net profit margin.
