SEPC Limited Surpasses FY25 Performance Benchmarks Within First 9 Months of FY26
SEPC Limited has surpassed its full-year FY25 performance benchmarks within the first nine months of FY26, achieving consolidated revenue of ₹796.89 crore and net profit of ₹39.81 crore, representing 53.28% and 168.66% year-on-year growth respectively. The company secured significant new orders including a ₹269.69 crore railway project and international contracts worth ~₹85 crore, while successfully completing a rights issue and strengthening its capital structure.

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SEPC Limited announced that it has crossed its full-year FY25 performance benchmarks within the first nine months of FY26, demonstrating exceptional operational momentum across its diversified Engineering, Procurement and Construction (EPC) portfolio. The company released its unaudited financial results for Q3 and nine months ended December 31, 2025, showcasing strong growth across key financial metrics.
Outstanding Nine-Month Performance
The company's consolidated nine-month performance significantly outpaced the previous year's results:
| Particulars (₹ Cr): | 9M FY26 | 9M FY25 | YoY Growth |
|---|---|---|---|
| Total Revenue: | 796.89 | 519.90 | 53.28% |
| EBITDA: | 83.60 | 75.34 | 10.96% |
| Net Profit: | 39.81 | 14.82 | 168.66% |
| Net Profit Margin: | 5.00% | 2.85% | 215 Bps |
| Diluted EPS (₹): | 0.22 | 0.10 | 120.00% |
Remarkably, the nine-month FY26 revenue of ₹796.89 crore has already surpassed the company's full-year FY25 revenue of ₹597.70 crore, while the net profit of ₹39.81 crore exceeded FY25's annual profit of ₹24.80 crore.
Strong Quarterly Momentum
The Q3 FY26 results demonstrated robust quarter-on-quarter and year-on-year growth:
| Particulars (₹ Cr): | Q3 FY26 | Q2 FY26 | Q3 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Total Revenue: | 342.07 | 251.02 | 159.75 | 114.12% | 36.27% |
| EBITDA: | 29.66 | 24.18 | 30.12 | -1.53% | 22.64% |
| Net Profit: | 14.96 | 8.30 | 4.44 | 236.62% | 80.28% |
| Net Profit Margin: | 4.37% | 3.31% | 2.78% | 159 Bps | 107 Bps |
| Diluted EPS (₹): | 0.08 | 0.04 | 100% | 166.67% | 100% |
Management Commentary
Commenting on the performance, Mr. Venkataramani Jaiganesh, Managing Director of SEPC Limited, stated: "We are encouraged by the consistent progress SEPC continues to deliver across its diversified project portfolio. The period reflects focused execution on ongoing projects, tighter operational controls, and improving coordination across business verticals."
He further emphasized the company's growing footprint in core infrastructure segments such as water, transportation, mining, and industrial projects, which reinforces confidence in the underlying business strength. "Looking ahead, our focus remains on disciplined growth, timely project delivery, and prudent risk management. With improved project visibility and a strong pipeline, SEPC is well positioned to sustain momentum and drive long-term, stable business growth," he added.
Recent Business Wins and Expansions
SEPC Limited has secured several significant projects that strengthen its market position:
| Project Type: | Details |
|---|---|
| Railway EPC Order: | ₹269.69 crore sub-contract under Ajmer-Chanderiya Doubling Project |
| Coal Mining Project: | JARPL–AT Consortium for Rampur Batura Opencast Coal Mine (~₹3,300 crore) |
| Settlement & Expansion: | ₹30.45 crore settlement with Hindustan Copper Limited plus ₹72.55 crore supplementary work |
| Airport Infrastructure: | ₹86 crore LoA for Bihta Airport civil enclave project, Patna |
| International Order: | AED 35 million (~₹85 crore) order in UAE for ESD, Nitrogen Generation, and PAGA systems |
Capital Structure and Rights Issue
During the nine months ended December 31, 2025, the company successfully completed a rights issue, allotting 35,00,00,000 equity shares of ₹10 each, aggregating to ₹35,000 lakhs. The paid-up equity share capital increased to ₹1,94,015.81 lakhs as of December 31, 2025, compared to ₹1,56,365.98 lakhs in the previous year.
Business Outlook
SEPC Limited operates as a well-established EPC company offering turnkey solutions across Water & Wastewater, Roads, Industrial Infrastructure, and Mining sectors. The company specializes in design, procurement, construction, and commissioning of large and complex infrastructure projects across India, serving Central and State Government agencies while playing a key role in India's infrastructure development.
Historical Stock Returns for SEPC
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.02% | -11.04% | -9.70% | -37.92% | -44.50% | +79.70% |


































