SEPC

SEPC Limited

Civil construction and EPC contractor for infrastructure and buildings

Industrials›Construction›Construction›Civil Construction

sepc.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹5.28
Market cap
1,026 Cr
Stock P/E
41.9
P/B
0.53
ROE (FY26)
2.8%
ROCE (FY26)
4.5%
Operating margin (FY26)
6.9%
Debt / equity (FY26)
0.18
OCF / EBITDA (FY26)
-339.4%
OCF / EBITDA (3Y)
-334.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

SEPC (formerly Shriram EPC) is a Chennai-based engineering, procurement and construction (EPC) contractor that builds water and wastewater, mining, industrial, power and road projects, mainly for central and state government bodies and public-sector companies such as SAIL.

Company snapshot

47thBy market cap

Ranked among 90 companies in Civil Construction.

What we see

Positives
  • ✓Debt-to-equity of 0.18x — the company is largely funded by its own money, not borrowed funds.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales129 Cr141 Cr148 Cr176 Cr171 Cr133 Cr118 Cr202 Cr237 Cr341 Cr274 Cr274 Cr
Operating expenses (approx.)121 Cr143 Cr141 Cr152 Cr163 Cr130 Cr103 Cr174 Cr227 Cr312 Cr264 Cr257 Cr
EBITDA8 Cr-2 Cr7 Cr24 Cr8 Cr3 Cr15 Cr28 Cr11 Cr29 Cr10 Cr17 Cr
OPM %6.6%-1.3%4.6%13.8%4.5%2.6%13.0%14.0%4.5%8.4%3.7%6.3%
Other income10 Cr20 Cr14 Cr2 Cr11 Cr27 Cr8 Cr2 Cr14 Cr1 Cr15 Cr9 Cr
Interest11 Cr11 Cr13 Cr13 Cr10 Cr9 Cr12 Cr9 Cr12 Cr10 Cr9 Cr11 Cr
Depreciation1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr1 Cr0.93 Cr1 Cr
Profit before tax6 Cr6 Cr7 Cr13 Cr7 Cr6 Cr10 Cr19 Cr11 Cr17 Cr15 Cr13 Cr
Tax %0.0%0.0%0.0%36.3%66.7%20.4%0.0%13.1%23.2%14.3%7.6%183.9%
Net profit6 Cr6 Cr7 Cr8 Cr2 Cr4 Cr10 Cr17 Cr8 Cr15 Cr14 Cr-11 Cr
EPS (₹)₹0.04₹0.04₹0.05₹0.06₹0.01₹0.03₹0.06₹0.11₹0.04₹0.08₹0.07₹-0.06

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales744 Cr829 Cr1,202 Cr1,208 Cr583 Cr329 Cr379 Cr561 Cr598 Cr1,054 CrSign in free for the trailing twelve months
Operating expenses (approx.)737 Cr813 Cr1,139 Cr1,164 Cr661 Cr377 Cr445 Cr535 Cr547 Cr977 CrSign in free for the trailing twelve months
EBITDA7 Cr16 Cr63 Cr44 Cr-78 Cr-47 Cr-66 Cr26 Cr51 Cr78 CrSign in free for the trailing twelve months
OPM %0.9%1.9%5.2%3.6%-13.4%-14.3%-17.5%4.7%8.5%7.4%Sign in free for the trailing twelve months
Other income88 Cr105 Cr74 Cr51 Cr23 Cr10 Cr20 Cr46 Cr48 Cr31 CrSign in free for the trailing twelve months
Interest298 Cr104 Cr95 Cr100 Cr107 Cr115 Cr60 Cr44 Cr45 Cr41 CrSign in free for the trailing twelve months
Depreciation6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr6 Cr5 Cr5 Cr5 CrSign in free for the trailing twelve months
Profit before tax-213 Cr11 Cr31 Cr-77 Cr-178 Cr-221 Cr25 Cr23 Cr35 Cr62 CrSign in free for the trailing twelve months
Tax %35.4%118.4%2.7%0.0%-0.7%-19.4%119.4%0.0%29.4%13.9%Sign in free for the trailing twelve months
Net profit-137 Cr-2 Cr31 Cr-77 Cr-179 Cr-264 Cr-5 Cr23 Cr25 Cr54 CrSign in free for the trailing twelve months
EPS (₹)₹-2.44₹-0.02₹0.32₹-0.79₹-1.85₹-2.71₹-0.04₹0.17₹0.16₹0.06Sign in free for the trailing twelve months
Dividend payout %———————0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital937 Cr972 Cr972 Cr972 Cr972 Cr972 Cr1,322 Cr1,410 Cr1,564 Cr1,943 Cr
Reserves204 Cr258 Cr289 Cr209 Cr32 Cr-234 Cr-235 Cr-200 Cr-58 Cr-24 Cr
Borrowings836 Cr793 Cr633 Cr658 Cr789 Cr978 Cr406 Cr452 Cr356 Cr351 Cr
Other liabilities888 Cr1,128 Cr1,078 Cr808 Cr622 Cr505 Cr508 Cr545 Cr523 Cr821 Cr
Total liabilities2,865 Cr3,151 Cr2,971 Cr2,649 Cr2,416 Cr2,223 Cr2,002 Cr2,209 Cr2,387 Cr3,093 Cr
Fixed assets (net)60 Cr56 Cr54 Cr50 Cr45 Cr38 Cr33 Cr28 Cr24 Cr21 Cr
CWIP0.15 Cr0.15 Cr0.15 Cr0 Cr0.36 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Investments1 Cr1 Cr0.88 Cr0.77 Cr0.80 Cr0.53 Cr0.41 Cr0.78 Cr0.45 Cr2 Cr
Inventories38 Cr38 Cr38 Cr3 Cr2 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Trade receivables482 Cr364 Cr485 Cr526 Cr341 Cr373 Cr292 Cr300 Cr368 Cr589 Cr
Cash & bank55 Cr24 Cr31 Cr12 Cr8 Cr6 Cr33 Cr18 Cr7 Cr26 Cr
Other assets2,228 Cr2,669 Cr2,362 Cr2,056 Cr2,019 Cr1,806 Cr1,644 Cr1,862 Cr1,987 Cr2,455 Cr
Total assets2,865 Cr3,151 Cr2,971 Cr2,649 Cr2,416 Cr2,223 Cr2,002 Cr2,209 Cr2,387 Cr3,093 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity12 Cr28 Cr302 Cr—-48 Cr-72 Cr21 Cr-121 Cr-133 Cr-263 Cr
Cash from investing-6 Cr21 Cr-38 Cr—17 Cr1 Cr12 Cr-24 Cr4 Cr-7 Cr
Cash from financing35 Cr-81 Cr-257 Cr—27 Cr68 Cr-6 Cr130 Cr118 Cr289 Cr
Net cash flow42 Cr-32 Cr7 Cr—-4 Cr-3 Cr27 Cr-15 Cr-11 Cr19 Cr
Free cash flow (OCF − Capex)11 Cr26 Cr297 Cr—-54 Cr-77 Cr21 Cr-121 Cr-133 Cr-264 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %4.3%5.7%6.7%1.3%-4.0%-6.2%5.7%4.0%4.3%4.5%
ROE %-12.0%-0.2%2.4%-6.5%-17.9%-35.7%-0.5%1.9%1.6%2.8%
Debtor days236160147159213412281195224203
Inventory days1921141200000
Days payable1252431961782339433238317294
Cash conversion cycle129-63-35-18-19403-152-43-93-91
OCF / EBITDA %n.m.n.m.480.9%————-460.2%-262.0%-339.4%
OCF / EBITDA % (3 years)——400.3%—————n.m.-334.6%
Debt / equity0.730.650.500.560.791.330.370.370.240.18
Current ratio1.411.051.561.601.331.142.202.432.912.54
Net debt / EBITDA111.16—9.5814.69———16.526.904.19