SEPC Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, demonstrating strong operational performance across both standalone and consolidated operations. The Board of Directors approved these results at their meeting held on February 7, 2026.

Consolidated Financial Performance

The company's consolidated results showed significant growth momentum during the reporting period:

The consolidated revenue from operations reached ₹34,097.02 lakhs in Q3 FY26 compared to ₹13,304.13 lakhs in the corresponding quarter of the previous year. For the nine-month period, revenue from operations stood at ₹78,066.69 lakhs against ₹47,985.09 lakhs in the previous year.

Standalone Operations

The standalone financial results also reflected positive performance trends:

Rights Issue and Capital Structure

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 to eligible equity shareholders. The company received application money of ₹17,500 lakhs, with the first and final call due on November 7, 2025, for which ₹15,035.52 lakhs was received.

The Rights Issue Committee and Board of Directors approved the conversion of 30,07,10,295 partly paid-up equity shares into fully paid-up equity shares on November 12, 2025. 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.

Operational Highlights

The company operates through multiple joint ventures and subsidiaries across India and international markets. The consolidated segment-wise performance showed:

Rest of the World Operations:

• Revenue: ₹16,646.44 lakhs (Q3 FY26)
• Nine-month revenue: ₹38,659.09 lakhs
• Profit before tax: ₹1,146.24 lakhs (Q3 FY26)

India Operations:

• Revenue: ₹17,450.58 lakhs (Q3 FY26)
• Nine-month revenue: ₹39,407.60 lakhs
• Profit before tax: ₹599.73 lakhs (Q3 FY26)

Key Financial Matters

The company maintains Deferred Tax Assets of ₹28,786.46 lakhs as of December 31, 2025, based on carry-forward business losses of ₹82,378.84 lakhs. Management expressed confidence in generating sufficient taxable profits to utilize these assets before expiry.

Despite accumulated losses of ₹2,06,852.99 lakhs on a consolidated basis, the company reported net profits during the quarter and nine months. The financial results are prepared on a going concern basis, considering positive developments including the resolution plan implementation, equity infusion, rights issue completion, and management changes.

Auditor's Review

M S K A & Associates LLP conducted the limited review of the unaudited financial results. The auditors issued qualified opinions on certain matters, including the recoverability of non-current contract assets and trade receivables totaling ₹7,454.62 lakhs (net of provisions), and the carrying value of Deferred Tax Assets.

The company continues to focus on its Engineering, Procurement and Construction (EPC) business, which represents its sole reportable segment under Ind AS 108.

SEPC Limited has announced that its Board of Directors will convene on February 02, 2026, to consider a significant proposal regarding variation in the objects of issue. The meeting has been scheduled in accordance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Meeting Details and Purpose

The primary agenda for the board meeting involves consideration and approval of a proposal for variation in the objects of the issue, as mentioned in the Letter of Offer dated May 22, 2025. This proposal will be subject to approval by shareholders through a special resolution.

Regulatory Compliance

SEPC Limited has formally notified both major stock exchanges about the upcoming board meeting. The company has communicated with the National Stock Exchange of India Ltd and BSE Limited, ensuring compliance with regulatory requirements under SEBI (LODR) Regulations, 2015.

Company Communication

The official intimation was signed by T Sriraman, Company Secretary & Compliance Officer, and digitally signed on January 28, 2026. The company has requested both exchanges to take the information on record, maintaining transparency in its corporate governance practices.

This board meeting represents an important corporate development as the company seeks to modify the objects of its previous issue, requiring both board approval and subsequent shareholder consent through a special resolution.