SEPC Reports 40% YoY Revenue Growth in June Quarter Despite Overseas Margin Headwinds

PNN
Chennai (Tamil Nadu) [India], August 12: SEPC Limited (NSE: SEPC | BSE: 532945), a leading EPC company with established expertise in industrial infrastructure, process plants, water and wastewater management, today announced its consolidated financial results for the first quarter (Q1 FY27) ended 30 June 2026.
The company delivered strong topline growth of 40% year-on-year, even as its international project sites -- including ongoing execution in the Middle East -- worked through a challenging regional operating environment during the quarter. Order intake remained robust, anchored by a large multi-package win from SAIL at its IISCO Burnpur Steel Plant, reinforcing the strength and diversification of SEPC's order book across geographies and sectors.
- ₹282 Cr Total Income in Q1 FY27, up 40% YoY from ₹202 Cr in Q1 FY26
- ₹10,670 Cr Total orders on hand as at 30 June 2026 -- domestic + international
- ₹952 Cr Fresh SAIL Pellet Plant order received in August 2026, over and above the order book
Key Highlights
- Total Income stood at ₹282 Cr in Q1 FY27, up 40% year-on-year from ₹202 Cr in Q1 FY26, supported by continued execution across the order book.
- EBITDA stood at ₹26 Cr, with an EBITDA margin of 9.2%, compared with ₹30 Cr and 14.9%, respectively, in Q1 FY26, primarily reflecting margin pressure on select overseas contracts.
- The company reported a net loss of ₹11 Cr compared with a profit of ₹17 Cr in Q1 FY26. Management views the margin pressure as an execution-phase impact on specific overseas contracts and is undertaking cost and pricing measures to improve margins in the coming quarters.
Order Book & Business Momentum
- Total orders on hand stood at ₹10,670 Cr as at 30 June 2026 -- a domestic order book of ₹5,270 Cr and an international order book of ₹5,400 Cr spanning Uzbekistan and Saudi Arabia.
- The domestic order book is well diversified across Mining (₹2,796 Cr), Water (₹699 Cr), Industrial EPC (₹681 Cr), Power (₹607 Cr), Construction (₹366 Cr), Roads (₹89 Cr) and Oil & Gas (₹32 Cr).
- SEPC won three orders during the quarter at SAIL's IISCO Burnpur Steel Plant -- a Sinter Plant BOP package (₹423.29 Cr), a Coke Oven BOP package (₹350.28 Cr) and, in early August, a 4.2 MTPA Pellet Plant BOP package (₹952.19 Cr) -- underscoring the company's growing traction in the metals and mining EPC space.
- SEPC has bids under active evaluation of ₹1,280 Cr in Water & Infrastructure and ₹3,060 Cr in Industrial EPC, providing strong forward visibility on the pipeline.
Strategic & Corporate Developments
- Board and shareholder approvals have been completed for the proposed acquisition of Avenir International, a step expected to strengthen SEPC's overall delivery capabilities; the transaction now awaits exchange and lender approvals.
- The company has substantially utilised the proceeds of its recent rights issue, deploying funds towards debt repayment, NCD redemption and working capital requirements in line with the stated objects of the issue.
Commenting on the Q1 FY27 financial results, Mr. Venkataramani Jaiganesh, Managing Director, SEPC Limited, said: "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.
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.
As we move through FY27, our priorities remain focused on strengthening execution, improving project margins and converting our growing pipeline of opportunities into sustainable business growth. We remain confident in our ability to build on the current order momentum while maintaining a disciplined approach to project selection and execution."
About SEPC Limited
SEPC Limited (formerly Shriram EPC Limited) is a well-established EPC company offering turnkey solutions across Water & Wastewater, Roads, Industrial Infrastructure, and Mining sectors. The company specializes in the design, procurement, construction, and commissioning of large and complex infrastructure projects across India.
SEPC serves a wide range of clients, including Central and State Government agencies, and continues to play a key role in India's infrastructure development.
In FY26, the Company delivered Total Income of ₹1,085.8 Cr, EBITDA of ₹108.9 Cr, and Net Profit of ₹53.5 Cr, against Total Income of ₹646.0 Cr in FY25, with Net Profit more than doubling over the previous year.
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