SEPC Limited has announced that its Board of Directors will convene on March 23, 2025, to discuss a significant corporate development. The meeting has been scheduled in compliance with regulatory requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Agenda

The primary focus of the board meeting will be to review and consider the purchase proposal for Avenir International Engineers and Consultants LLC., a company based in Abu Dhabi. This represents a potential international expansion for SEPC Limited into the Middle Eastern engineering and consultancy market.

Regulatory Compliance and Disclosure

The company has fulfilled its obligation under Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, by providing advance notice of the board meeting to both the National Stock Exchange of India and BSE Limited. SEPC Limited has committed to disclosing further details regarding the purchase proposal to stock exchanges upon conclusion of the board meeting, as mandated by applicable regulations.

Corporate Communication

The formal intimation was signed by T Sriraman, Company Secretary & Compliance Officer, on March 18, 2026, ensuring proper corporate governance protocols are followed. The company has requested both stock exchanges to take the meeting notification on record, maintaining transparency with regulatory authorities and stakeholders.

Investors and market participants will need to await the outcome of the March 23, 2025 board meeting for comprehensive details about the proposed purchase and its potential impact on SEPC Limited's business operations and strategic direction.

SEPC Limited has disclosed significant credit rating downgrades from two prominent rating agencies, marking a substantial deterioration in its credit profile. The company informed stock exchanges on March 10, 2026, about the downgrades received from CRISIL Ratings Limited and Infomerics Valuation and Rating Ltd.

Credit Rating Downgrades

The rating actions represent a sharp decline in the company's creditworthiness across both long-term and short-term facilities. Both agencies have moved the ratings to the 'D' category, which typically indicates default or expected default on financial obligations.

CRISIL Rating Rationale

CRISIL Ratings downgraded SEPC's bank facilities totaling ₹890.15 crore due to delayed interest payment obligations. The company failed to service approximately ₹6 crore of term loan interest due on February 28, 2026. Additionally, there have been delays exceeding 30 days in clearing letter of credit dues and overdrawals in cash credit accounts.

The rating agency noted that the Madras High Court ordered attachment of ₹154 crore of SEPC's receivables on February 19, 2026, in connection with ongoing legal proceedings involving Twarit Consultancy Services Pvt Ltd and GPE entities. This led to lenders freezing the trust and retention account, exacerbating liquidity mismatches.

Infomerics Rating Action

Infomerics Valuation and Rating Ltd downgraded facilities worth ₹882.50 crore across various categories. The rating committee reviewed and downgraded both long-term and short-term bank facilities to IVR D from their previous ratings.

Financial Performance Context

Despite operational challenges, SEPC reported improved financial performance in recent months. For the first nine months of fiscal 2026, the company achieved net profit of ₹40 crore on operating income of ₹781 crore, compared to ₹15 crore profit on ₹485 crore revenue in the corresponding previous period.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer T Sriraman signed the communication digitally on March 17, 2026, ensuring compliance with regulatory requirements for material information disclosure to both NSE and BSE.