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SEPC Limited
(SEPC)
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Rating:55Neutral
Price Target:
₹6.00
▼(-0.33% Downside)
Action:Reiterated
Date:05/28/26
The score is held back primarily by weak cash conversion—operating and free cash flow are sharply negative despite profitability—creating elevated execution and funding risk. Offsetting this are improved leverage and strong revenue/profit recovery, while technicals are mildly constructive but still below the 200-day trend, and valuation appears mid-range based on the P/E.
Positive Factors
Revenue & Profit Recovery
A sustained top-line rebound and return to net profitability indicate the firm can win and execute larger contracts again. Over 2–6 months this supports stable project pipelines, reinstates supplier/creditor confidence and improves bid competitiveness versus loss-making peers.
Negative Factors
Severely Negative Operating Cash Flow
Negative operating cash flow of this magnitude, even with reported profits, shows cash is tied up in projects or receivables. Over months this increases reliance on external financing, raises execution risk on large contracts, and can force higher working-capital costs or curtailed bidding activity.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Profit Recovery
A sustained top-line rebound and return to net profitability indicate the firm can win and execute larger contracts again. Over 2–6 months this supports stable project pipelines, reinstates supplier/creditor confidence and improves bid competitiveness versus loss-making peers.
Read all positive factors
SEPC Limited (SEPC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹9.59B
Dividend YieldN/A
Average Volume (3M)1.09M
Price to Earnings (P/E)19.7
Beta (1Y)2.22
Revenue Growth76.44%
EPS Growth82.85%
CountryIN
Employees224
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)0.30
Shares Outstanding1,623,482,500
10 Day Avg. Volume486,466
30 Day Avg. Volume1,085,827
Financial Highlights & Ratios
PEG Ratio0.16
Price to Book (P/B)0.45
Price to Sales (P/S)0.82
P/FCF Ratio-3.09
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
SEPC Limited Business Overview & Revenue Model
Company Description
SEPC Limited provides integrated design, engineering, procurement, construction, and project management services in India and internationally. It offers turnkey contracting solutions, including design, engineering, and construction for ferrous and...
How the Company Makes Money
SEPC makes money primarily by winning and executing project contracts and recognizing revenue as it delivers contractual milestones and/or progresses work under those contracts. Its key revenue streams generally come from (i) EPC contract revenues...
SEPC Limited Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
74
Positive
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 10.54B | 5.98B | 5.61B | 3.79B | 3.29B |
| Gross Profit | 1.30B | 1.25B | 937.11M | 597.96M | 360.24M |
| EBITDA | 1.08B | 850.46M | 798.46M | 989.65M | -994.13M |
| Net Income | 535.38M | 248.40M | 227.84M | -49.04M | -2.64B |
Balance Sheet | |||||
| Total Assets | 30.93B | 23.87B | 22.09B | 20.02B | 22.23B |
| Cash, Cash Equivalents and Short-Term Investments | 760.47M | 511.08M | 305.98M | 353.07M | 73.18M |
| Total Debt | 3.53B | 3.58B | 4.55B | 4.09B | 9.81B |
| Total Liabilities | 11.72B | 8.79B | 9.97B | 9.14B | 14.84B |
| Stockholders Equity | 19.19B | 15.06B | 12.10B | 10.86B | 7.38B |
Cash Flow | |||||
| Free Cash Flow | -2.81B | -1.33B | -1.21B | 207.66M | -720.05M |
| Operating Cash Flow | -2.80B | -1.33B | -1.21B | 209.05M | -719.94M |
| Investing Cash Flow | -87.71M | 37.25M | -239.09M | 124.81M | 10.25M |
| Financing Cash Flow | 3.08B | 1.18B | 1.30B | -61.42M | 683.87M |
SEPC Limited Technical Analysis
Negative
6.02
Price Trends
6.64
Negative
6.74
Negative
8.19
Negative
Market Momentum
-0.21
Negative
39.21
Neutral
48.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:SEPC, the sentiment is Negative. The current price of 6.02 is below the 20-day moving average (MA) of 6.14, below the 50-day MA of 6.64, and below the 200-day MA of 8.19, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 39.21 is Neutral, neither overbought nor oversold. The STOCH value of 48.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:SEPC.
SEPC Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹11.39B | 10.24 | ― | ― | 94.19% | 101.16% | |
65 Neutral | ₹15.02B | 15.39 | ― | 1.80% | 8.57% | 18.02% | |
60 Neutral | ₹16.12B | 19.79 | ― | ― | 12.11% | 24.20% | |
56 Neutral | ₹11.20B | 92.48 | ― | 0.42% | -16.04% | -0.27% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹9.59B | 19.73 | ― | ― | 76.44% | 82.85% | |
55 Neutral | ₹12.26B | 907.67 | ― | ― | 19.55% | -94.75% |
* General Sector Average
IN:SEPC
SEPC Limited
6.32
-5.28
-45.52%
IN:BLKASHYAP
B.L. Kashyap & Sons Ltd.
53.47
-17.16
-24.30%
IN:GPTINFRA
GPT Infraprojects Limited
117.05
-10.26
-8.06%
IN:RIIL
Reliance Industrial Infrastructure Limited
749.70
-88.83
-10.59%
IN:SPMLINFRA
SPML Infra Limited
196.80
-87.55
-30.79%
IN:SRM
SRM Contractors Ltd.
512.55
56.60
12.41%
SEPC Limited Corporate Events
SEPC to Acquire Majority Stake in UAE’s Avenir in ₹1,530 Crore Share-Swap
Jul 8, 2026
SEPC Limited’s board has approved a major strategic move to acquire up to a 90% stake in Abu Dhabi-based Avenir International Engineers and Consultants LLC via a share-swap, issuing 153 crore new equity shares at ₹10 each, valued at &#...
SEPC Limited Launches Electronic Postal Ballot for Special Resolutions
Jul 6, 2026
SEPC Limited has initiated a postal ballot process, notifying shareholders that special resolutions will be conducted exclusively through remote e-voting in line with Indian corporate and securities regulations and Ministry of Corporate Affairs ci...
Exchange Seeks Clarification on SEPC Limited’s March 2026 Results
Jun 29, 2026
The stock exchange has sought clarification from SEPC Limited regarding its financial results for the quarter ended 31 March 2026, specifically in relation to compliance with Regulation 33 of the SEBI Listing Obligations and Disclosure Requirement...
SEPC Limited Announces Resignation of Independent Director Ashutosh Karnatak
Jun 24, 2026
SEPC Limited has announced that Dr. Ashutosh Karnatak has resigned from his position as an Additional Director in the capacity of Non-Executive, Independent Director, effective June 24, 2026, citing personal reasons and other professional commitme...
SEPC Limited Doubles FY26 Net Profit on 68% Revenue Surge
May 26, 2026
SEPC Limited reported a sharp improvement in FY26 performance, with total consolidated revenue rising 68% year-on-year to ₹1,085.84 crore and net profit more than doubling to ₹53.54 crore, alongside higher earnings per share. Managemen...
SEPC Converts 24.2 Million Partly Paid Rights Shares to Fully Paid Equity
May 9, 2026
SEPC Limited has updated the market on the status of its rights issue, originally involving 49,291,505 partly paid-up equity shares issued on a rights basis. The company reported that it has received first and final call money for 24,236,652 of th...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.