Sepc Limited (SEPC) · mywealthgrid

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About

Sepc Limited operates in civil construction, a capital-intensive segment of the Industrials sector. With a market cap of ₹1,123 Cr and quarterly revenues ranging from ₹119 Cr to ₹341 Cr, it is a mid-sized regional player. The company has faced significant challenges, with its stock down 49.69% over one year and recent quarters marked by profitability swings and losses.

Face value: ₹10

Market cap

₹988 Cr

P/E

38.1×

P/B

0.5×

Dividend yield

ROE

3.1%

ROCE

5.2%

Debt / equity

0.18

OPM

7.4%

EPS (TTM)

₹0.1

Book value

₹9.9

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Net losses in Jun 2026 (₹18.17 Cr standalone, ₹11.05 Cr consolidated) after profitability in prior quarters; verify if project-specific, working-capital driven, or structural margin pressure.
Operating margin volatility: OPM swung from 2.58% to 9.8% across recent quarters; verify project mix, pricing power, and cost controls.
Promoter shareholding declined from 18.67% (Mar 2026) to 11.67% (Jun 2026); verify reasons for reduction and implications for capital access.
Stock down 49.69% over one year and near 52-week lows (₹4.65 vs. range ₹4.65–₹13.12), suggesting severe market skepticism.

Generated analysis · source review pending

Growth drivers

D/E ratio of 0.18 provides balance-sheet capacity for large construction contracts; verify project pipeline and debt deployment plans.
Operating margin peaked at 9.8% in Dec 2025; verify if high-margin contract wins remain achievable given recent execution challenges.
Dec 2025 revenue of ₹341 Cr demonstrates execution scale; verify if similar project pipelines can sustain this level.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹5.1-0.4%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of 2.3% (3-yr avg)
−Thin operating margin of 7.4%
−Low promoter holding of 11.7%
−Promoter holding fell 15.7 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

47/100

Business quality: 22
Growth: 67
Valuation: 52

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	548	744	829	1,202	1,208	583	329	379	561	598	1,055
COGS	—	—	0	-1	1,035	557	293	319	467	473	891
Gross profit	—	—	—	—	173	25	37	60	94	125	164
	519	716	813	1,140	129	103	84	126	68	75	86
	28	28	16	63	44	-78	-47	-66	26	51	78
OPM %	5.2%	3.8%	1.9%	5.2%	3.6%	-13.4%	-14.3%	-17.5%	4.7%	8.5%	7.4%
Depreciation	7	6	6	6	6	6	6	6	5	5	5
Interest	272	247	104	95	100	107	115	60	44	45	41
	113	10	101	70	-15	12	-54	158	46	34	30
Profit before tax	-204	-218	11	31	-77	-178	-221	25	23	35	62
Tax	0	0	—	—	0	1	43	30	0	10	9
Tax %	0%	0%	—	—	0%	0.7%	19.4%	119.4%	0%	29.4%	13.9%
	-204	-218	-2	31	-77	-179	-264	-5	23	25	54
PAT margin %	-37.3%	-29.3%	-0.3%	2.6%	-6.4%	-30.8%	-80%	-1.3%	4.1%	4.2%	5.1%
EPS (₹)	-9	-3.9	-0	—	-0.8	-1.9	-2.7	-0	0.2	0.2	0.3
EPS adjusted (₹)	-6.2	-2.3	-0	0.3	-0.8	-1.9	-2.7	-0	0.2	0.2	0.3
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	14.3%	4.3%	11.2%	15.8%	16.8%	20.9%	15.5%
EBITDA margin %	5.2%	3.6%	-13.4%	-14.3%	-17.5%	4.7%	8.5%	7.4%
EBIT margin %	4.8%	3.2%	-14.3%	-16%	-19.1%	3.7%	7.6%	6.9%
PAT margin %	2.6%	-6.4%	-30.8%	-80%	-1.3%	4.1%	4.2%	5.1%
Working capital
Receivable days	224	205	252	413	281	195	225	204
Inventory days	12	1	2	0	0	0	0	0
Payable days	—	—	223	424	434	238	318	295
NWC days	—	—	31	-11	-153	-43	-93	-91
Leverage
Current ratio	1.56	1.63	1.34	1.13	2.2	2.43	2.91	2.54
Debt to EBITDA	10.07	14.96	—	—	—	17.22	7.05	4.53
Debt to equity	0.5	0.56	0.83	1.33	0.37	0.37	0.24	0.18
Interest coverage	1.4	0.9	-0.6	-0.4	-0.9	1.5	2.1	2.6
Asset turnover	0.4	0.46	0.24	0.15	0.19	0.25	0.25	0.34
Return ratios
Return on assets %	1%	-3%	-7.4%	-11.9%	-0.2%	1%	1%	1.7%
Return on capital employed %	7.6%	5.4%	-4.2%	-3.8%	-4.4%	4.4%	5.5%	5.2%
Return on equity %	2.4%	-6.5%	-17.9%	-35.7%	-0.5%	1.9%	1.6%	2.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	27.75%	27.75%	26.96%	37.64%	33.94%	33.37%	33.37%	27.35%	27.35%	26.53%	18.67%	11.67%
	0.34%	0.42%	0.47%	0.65%	0.76%	0.64%	0.65%	0.65%	0.61%	0.6%	0.96%	1.04%
	37.53%	26.58%	25.16%	24.93%	19%	19.15%	19.14%	15.75%	14.52%	14.55%	13.91%	13.91%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	34.38%	45.25%	47.41%	36.78%	46.3%	46.84%	46.84%	56.25%	57.52%	58.32%	66.46%	73.38%
No. of shareholders	—	—	—	—	—	—	—	—	3,07,501	3,12,827	3,17,139	3,22,629

Promoter holding down 16.08 percentage points since Sep 2023.

1 disclosure

Person	Deal	Shares	Value	Holding	Filed
Mark AB Welfare TrustPromoter Group	SellOff Market	21,00,00,000	₹10	18.04% → 7.22%	4 Nov 20257(2)

Disclosed under SEBI’s insider-trading regulations, which require a filing only above ₹10 lakh in a quarter — smaller dealings are in no disclosure. Holdings are the filer’s own percentages, not recomputed.

32 deals · 23 Nov 2023 – 28 Apr 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
28 Apr 2026	YUGA STOCKS AND COMMODITIES PRIVATE LIMITED	Bulk	NSE	Buy	1,58,03,087	₹8.78	₹13.88 Cr
28 Apr 2026	YUGA STOCKS AND COMMODITIES PRIVATE LIMITED	Bulk	NSE	Sell	1,35,03,087	₹8.83	₹11.92 Cr
13 Mar 2026	MARK AB WELFARE TRUST	Bulk	BSE	Sell	1,27,36,502	₹5.31	₹6.76 Cr
12 Mar 2026	MARK AB WELFARE TRUST	Bulk	BSE	Sell	85,00,000	₹6.24	₹5.30 Cr
6 Sept 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	94,19,767	₹30.36	₹28.60 Cr
6 Sept 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	93,87,684	₹30.30	₹28.44 Cr
5 Sept 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	1,81,00,323	₹29.39	₹53.20 Cr
5 Sept 2024	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	1,57,21,040	₹29.40	₹46.22 Cr
5 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	1,24,71,340	₹28.88	₹36.02 Cr
5 Sept 2024	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	1,24,71,340	₹28.88	₹36.02 Cr

1–10 of 32

1 / 4

Mr. Abdulla Mohammad Ibrahim Hassan AbdullaNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. R RavichandranNon-Executive - Independent Director
Mr. Rajesh Kumar BansalNon-Executive - Independent Director
Mr. Gopalaswamy Arun KumarNon-Executive - Independent Director
Mrs. Sundaram GayathriNon-Executive - Independent Director
Mr. Venkataramani JaiganeshExecutive Director
Mr. R S ChandrasekharanChief Financial Officer
Mr. T SriramanCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Sepc Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Credit ratings

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

4

Dividend dividend11 Sept 2012 · ex-date₹1.2
Dividend dividend6 Sept 2011 · ex-date₹1.2
Dividend dividend13 Sept 2010 · ex-date₹1.2
Dividend dividend21 Aug 2009 · ex-date₹1.2

1

Board meeting to consider results11 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

21 announcementsExport CSV

1 Oct 2026, 9:04 amCompany Update

Update On High Court Order, Settlement Of Disputes, And Removal Of Financial Attachments Under Regulation 30 Of SEBI (LODR) Regulations, 2015

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	14.3%	4.3%	11.2%	15.8%	16.8%	20.9%	15.5%
EBITDA margin %	5.2%	3.6%	-13.4%	-14.3%	-17.5%	4.7%	8.5%	7.4%
EBIT margin %	4.8%	3.2%	-14.3%	-16%	-19.1%	3.7%	7.6%	6.9%
PAT margin %	2.6%	-6.4%	-30.8%	-80%	-1.3%	4.1%	4.2%	5.1%
Working capital
Receivable days	224	205	252	413	281	195	225	204
Inventory days	12	1	2	0	0	0	0	0
Payable days	—	—	223	424	434	238	318	295
NWC days	—	—	31	-11	-153	-43	-93	-91
Leverage
Current ratio	1.56	1.63	1.34	1.13	2.2	2.43	2.91	2.54
Debt to EBITDA	10.07	14.96	—	—	—	17.22	7.05	4.53
Debt to equity	0.5	0.56	0.83	1.33	0.37	0.37	0.24	0.18
Interest coverage	1.4	0.9	-0.6	-0.4	-0.9	1.5	2.1	2.6
Asset turnover	0.4	0.46	0.24	0.15	0.19	0.25	0.25	0.34
Return ratios
Return on assets %	1%	-3%	-7.4%	-11.9%	-0.2%	1%	1%	1.7%
Return on capital employed %	7.6%	5.4%	-4.2%	-3.8%	-4.4%	4.4%	5.5%	5.2%
Return on equity %	2.4%	-6.5%	-17.9%	-35.7%	-0.5%	1.9%	1.6%	2.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Larsen & ToubroLTLT	₹5,05,996 Cr	₹6,27,679 Cr	₹2,90,137 Cr	₹28,950 Cr	10.2%	₹16,590 Cr	6.6%	15.4%	15.5%	-142
Rail Vikas Nigam LimitedRVNLRVNL	₹41,075 Cr	₹45,888 Cr	₹20,825 Cr	₹891 Cr	3.8%	₹900 Cr	4.3%	10.2%	9%	66
Kalpataru Projects International LimitedKPILKPIL	₹23,167 Cr	₹26,474 Cr	₹27,380 Cr	₹2,277 Cr	8.3%	₹1,136 Cr	3.8%	20.3%	14.6%	-94
Nbcc (India) LimitedNBCCNBCC	₹20,898 Cr	₹20,898 Cr	₹12,752 Cr	₹656 Cr	4.8%	₹743 Cr	5.8%	29.3%	26.2%	-7,663
Irb Infrastructure Developers LimitedIRBIRB	₹20,533 Cr	₹40,541 Cr	₹7,686 Cr	₹4,182 Cr	52.1%	₹954 Cr	11.1%	6.1%	4.2%	67
Cemindia Projects LimitedCEMPROCEMPRO	₹20,254 Cr	₹21,120 Cr	₹10,185 Cr	₹1,058 Cr	10.2%	₹602 Cr	5.9%	44.8%	28.2%	-110
Engineers India LimitedENGINERSINENGINERSIN	₹17,577 Cr	₹17,577 Cr	₹3,878 Cr	₹750 Cr	17.7%	₹784 Cr	17.6%	28.8%	23.8%	-22
Techno Electric & Engineering Company LimitedTECHNOETECHNOE	₹11,614 Cr	₹11,686 Cr	₹3,356 Cr	₹469 Cr	14.2%	₹431 Cr	14.6%	13.6%	12%	-33
Ircon International LimitedIRCONIRCON	₹10,369 Cr	₹16,033 Cr	₹9,241 Cr	₹771 Cr	8.4%	₹524 Cr	6.5%	7.8%	9.2%	-469
Rites LimitedRITESRITES	₹10,068 Cr	₹10,068 Cr	₹2,458 Cr	₹555 Cr	22.9%	₹417 Cr	18.8%	19.3%	15.4%	-2,276
Welspun Enterprises LimitedWELENTWELENT	₹10,026 Cr	₹11,998 Cr	₹3,544 Cr	₹716 Cr	20.7%	₹308 Cr	10.9%	17.3%	12.5%	-422
Kec International LimitedKECKEC	₹9,912 Cr	₹15,015 Cr	₹23,506 Cr	₹1,599 Cr	7.1%	₹554 Cr	2.6%	23.1%	10.5%	-132

Date	Category	Subject	Filing
1 Oct 2026, 9:04 am	Company Update General	Update On High Court Order, Settlement Of Disputes, And Removal Of Financial Attachments Under Regulation 30 Of SEBI (LODR) Regulations, 2015	PDF
29 Sept 2026, 5:43 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
29 Sept 2026, 5:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
28 Sept 2026, 5:36 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
28 Sept 2026, 5:19 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
5 Sept 2026, 6:08 pm	Others Business Responsibility and Sustainability Reporting (BRSR)	Business Responsibility and Sustainability Reporting (BRSR)	PDF
5 Sept 2026, 5:57 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
5 Sept 2026, 5:46 pm	AGM/EGM AGM	Notice Of The 26Th Annual General Meeting Of The Company For The Financial Year 2025-26	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	331	937	972	972	972	972	972	1,322	1,410	1,564	1,943
Reserves	60	653	258	288	212	32	-234	-235	-200	-58	-24
Minority interest	—	—	—	1	1	1	1	2	2	2	2
	1,964	842	793	633	658	836	978	406	452	356	351
	596	988	1,128	1,078	759	575	505	508	545	523	821
Total equity & liabilities	2,951	3,420	3,151	2,971	2,603	2,416	2,223	2,002	2,209	2,387	3,093
	55	61	56	55	51	45	39	33	29	24	21
CWIP	10	0	0	—	—	—	—	0	0	0	0
Investments	5	1	1	1	1	1	1	0	1	0	2
	2,880	3,358	3,094	2,916	2,551	2,370	2,184	1,968	2,180	2,362	3,070
Total assets	2,951	3,420	3,151	2,971	2,603	2,416	2,223	2,002	2,209	2,387	3,093

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-151	21	28	302	-7	-50	-72	21	-121	-133	-263
	47	-6	21	-38	40	21	1	12	-24	4	-7
	82	27	-81	-257	-52	25	68	-6	130	118	289
Net cash flow	—	—	-32	7	-19	-4	-3	27	-15	-11	19
Free cash flow	—	—	—	—	—	-56	-77	21	-121	-133	-264
CFO / Operating profit %	-534.7%	74.5%	176.2%	480.8%	-15.9%	—	—	—	-460.1%	-262%	-339.4%

Compounded sales growth

7 years: -2%
5 years: 13%
3 years: 41%
1 year: 76%

Compounded profit growth

7 years: 8%
5 years: —
3 years: —
1 year: 116%

Return on equity

7 years: -8%
5 years: -6%
3 years: 2%
Last year: 3%

Sepc Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Credit ratings

Events

Dividends4

Board meetings1

Announcements

Dividends4

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

4

1