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SEPC Ltd (SEPC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532945 NSE: SEPC Engineering - Construction | Small Cap | SEPC Share Price

₹7.22 -0.07 (-0.96%)

As on 18-Jun'26 16:59

SEPC Ltd (SEPC)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532945 NSE: SEPC Engineering - Construction | Small Cap | SEPC Share Price

₹7.22 -0.07 (-0.96%)

As on 18-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,403 Cr.
Current Price
₹7.2
52-Week Low / High
₹5 / 14
TTM EPS
₹0.1
TTM Sales
₹548 Cr.
Book Value per Share
₹9.4
P/E Ratio
66.91
Lower than its 3-year historical median
Industry PE
31.5
Price to Book (P/B)
0.77
Lower than its 5-year historical median
Price to Sales (P/S)
2.56
Lower than its 5-year historical median
EV/EBITDA
22.01
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
1.91%
Underperforms industry median
Return on Capital Employed (ROCE)
5.34%
Underperforms industry median
Return on Assets (ROA)
1.36%
Operating Profit Margin
10.8%
Net Profit Margin
4.21%
Gross Profit Margin
9.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.54%
Operating Profit Growth (1 Year)
-
88.93%
Net Profit Growth (1 Year)
-
10.94%
Asset Quality
Promoter Holding
18.67%
Pledged shares (%) of Promoter's holding (%)
71.45%
Reserves
₹-110 Cr.
Equity
₹1,943.3 Cr.
Face Value
₹10
All Time Low / High
₹1.76 / 335.79

SEPC stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Undervalued

Price Trend

Semi Strong
Q.1 Is SEPC Ltd a good quality company?
SEPC Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does SEPC Ltd performance compare with that of its Peers?
Q.1 Revenue growth of SEPC Ltd vs industry peers?
SEPC Ltd revenue CAGR is -2.58%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of SEPC Ltd?
Promoters hold 18.67% of the SEPC Ltd, with 71.45% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of SEPC Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -10.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
SEPC Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 1.2%3.8%6.9%6.8%1.7%-3.1%-4.6%5.4%4.7%5.3%-
Value Creation
Index
-0.9-0.7-0.5-0.5-0.9-1.2-1.3-0.6-0.7-0.6-

Growth Parameters

Sales 548520615741681532303379561598548
Sales YoY Gr.--5.1%18.4%20.4%-8.1%-21.9%-43.1%25.1%48.1%6.5%-
Adj EPS -4.6-1.40.10.3-0.3-1.6-1.9-0.70.20.20.1
YoY Gr.-NANA190%-206.9%NANANANA40%-
BVPS (₹) 10.610.811.311.610.99.26.97.47.88.69.4
Adj Net
Profit
-169-14710.731.8-33.6-175-204-10622.634.921
Cash Flow from Ops. -151-48.666.62649.3-46.8-69.921.2-119-133-
Debt/CF from Ops. -13-17.3122.573.3-17.9-1419.2-3.8-2.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 1%-2.6%25.4%6.5%
Adj EPS NANANA40%
BVPS-2.3%-4.5%7.9%10.9%
Share Price -9.9% 11.4% -4% -44.5%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-65.2-18.60.92.6-2.8-16.1-23.5-11.622.61.2
Op. Profit
Mgn %
5.21.46.29.58.5-11.4-6.8-14.46.110.88.2
Net Profit
Mgn %
-30.9-28.41.84.3-4.9-32.9-67.5-27.945.83.9
Debt to
Equity
50.80.70.50.60.81.30.40.40.30.1
Working Cap
Days
1,8041,7201,2281,0181,0361,2502,0231,4549931,077590
Cash Conv.
Cycle
10517715368661011401005123424

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales548520615741681532303379561598
Operating Expenses + 519513577670665593323437527533
Manufacturing Costs339376476590510518251324469476
Material Costs3950-13512000
Employee Cost 45414652503637333233
Other Costs 95915529703933792624
Operating Profit 287387116-61-21-583465
Operating Profit Margin (%) 5.2%1.3%6.2%9.5%2.3%-11.4%-6.8%-15.3%6.1%10.8%
Other Income + 113881057488219124648
Exceptional Items -107-40-5-66-11-641380-14
Interest 272311113106114126125675258
Depreciation 7666656655
Profit Before Tax -244-2262429-81-183-206192335
Tax 0-75130004330010
Profit After Tax -244-1511129-81-183-249-112325
PAT Margin (%) -44.6%-29.0%1.8%3.9%-11.9%-34.4%-82.2%-3.0%4.0%4.2%
Adjusted EPS (₹)-6.6-1.40.10.3-0.8-1.7-2.3-0.10.20.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of SEPC - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 3921,1291,2291,2581,1779957461,0841,2071,432
Share Capital 3319379729729729729721,3221,4101,564
Reserves 6119225828720623-225-237-202-132
Debt +1,964836793633658789846404449351
Long Term Debt1,509344282206206201154266298262
Short Term Debt45549251242645258869313815090
Minority Interest0000000000
Trade Payables204256315317308226159244220344
Others Liabilities 464-101-79-74-151-159-82-219-157-151
Total Liabilities 3,0242,1202,2582,1341,9931,8511,6701,5131,7191,976

Fixed Assets

Net Fixed Assets +55615654494441363126
Gross Block100676870716969666665
Accumulated Depreciation4561216212528293539
CWIP 10000000000
Investments 5111111111
Inventories45383838320000
Trade Receivables291482380344377328281242229295
Cash Equivalents 51615891563529506149
Others Assets 2,5661,4761,7251,6051,5061,4401,3181,1841,3971,606
Total Assets 3,0242,1202,2582,1341,9931,8511,6701,5131,7191,976

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -151-49672649-47-7021-119-133
PBT -137-2262429-81-183-206192335
Adjustment 2152612388175143208224217
Changes in Working Capital -226-10025141-80-3-52-18-181-181
Tax Paid -416-66-5-4-19-1-2-5
Cash Flow From Investing Activity + 47-622-383821112-234
Capex -1-2-1-4-1-003-0-0
Net Investments 0000000000
Others 48-423-343921110-234
Cash Flow From Financing Activity + 8257-83-238-502568-6127118
Net Proceeds from Shares 454265350000350100200
Net Proceeds from Borrowing 373-8-75-0-50-31836-2
Interest Paid -112-253-130-77-70-1060-42-21-20
Dividend Paid 0000000000
Others -263-2820-852013668313-60
Net Cash Flow -2235-12-3-0-127-15-11

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-317.08-19.850.912.3-6.65-16.84-28.61-1.241.981.91
ROCE (%)1.23.836.896.831.72-3.06-4.555.374.735.34
Asset Turnover Ratio0.190.20.280.340.330.280.170.240.350.32
PAT to CFO Conversion(x)N/AN/A6.099.1N/AN/AN/AN/A-5.17-5.32
Working Capital Days
Receivable Days183.20271.70255.80178.40193.40242.10366.90251.90153.30159.80
Inventory Days43.4029.4022.5018.8011.2020000
Payable Days1,333.400002,379.5000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *7.887.8933.9533.9533.950.0033.9533.9543.4771.45
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

SEPC Ltd FAQs

The current trading price of SEPC on 18-Jun-2026 16:59 is ₹7.22.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Jun-2026 the market cap of SEPC stood at ₹1,403.1 Cr

The latest P/E ratio of SEPC as of 17-Jun-2026 is 66.91.

The latest P/B ratio of SEPC as of 17-Jun-2026 is 0.77.

The 52-week high of SEPC is ₹14.39 and the 52-week low is ₹4.63.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SEPC is ₹548 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that SEPC Ltd is a below average quality company.

The key valuation ratios of SEPC Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of SEPC Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About SEPC Ltd

Shriram EPC is an associate of the multi billion dollar Shriram Group, headquartered in Chennai, India. The Group, established in the 1970s, is now one of the largest Financial Services Networks in India having substantial interest in truck and consumer finance. The Group has diversified into Insurance, Pharmaceuticals, Automobile Components, Software, Property Development and Project engineering.

Shriram EPC was incorporated on June 12, 2000 for the purpose of carrying on the business of engineering, procurement and construction, and now provides a single point solution to engineering challenges offering multi-disciplinary design, engineering, procurement, construction and project management services.

The Company began its operations in the biomass power plants business in December 2000 with the execution of the first biomass power plant project in Andhra Pradesh. The biomass power plants business is engaged in the design, engineering and construction of thermal biomass-based power plants.

In 2004, the company commenced the business of erection, testing and commissioning of wind electric generators and entered into a joint operation agreement with Hamon Thermopack Engineers, a subsidiary of Hamon Thermal Europe SA and Hamon (Netherlands) B.V to carry out projects regarding cooling tower solutions.

The company commenced its municipal services business of water and wastewater management and water distribution systems and pipe rehabilitation in 2004. The municipal services business principally focuses on the design and implementation of turnkey design-build environmental projects for water and wastewater distribution, water and sewage treatment and pipe rehabilitation.The company works on a project to project basis with Chevalier Pipe Technologies Limited, whereby  it has been granted license to use its rib loc technology in India

On January 16, 2007 the company entered into a Joint Venture Agreement with Leitner B.V., Netherlands to set up Leitner Shriram Manufacturing, an Associate company formed for the purposes of manufacturing of megawatt class wind turbines and components. In the same year the company entered into a memorandum of understanding on August 28, with Bessemer Venture Partners Trust for power generation through renewable sources.

The company mainly works under these divisions

  • Wind Energy - Shriram EPC’s Wind Turbine Generator (WTG) business has been focused on developing, manufacturing, erecting and commissioning 250KW WTGs, and is currently developing megawatt-class WTGs through Leitner Shriram Manufacturing, an associate company.
  • EPC - (engineering, procurement, construction) Businesses- The EPC business of the company  is focused on providing integrated turnkey solutions for biomass-based power plants, mini hydel plants, process and metallurgy plants (including thermal power plants), water and wastewater treatment plants, water & sewer infrastructure and pipe rehabilitation.
  • Process & Metallurgy- They offer expertise to Plants and Projects in Process & Metallurgical related jobs that include Rolling Mills, Blast Furnace related equipment and systems, Sinter Plant equipment and systems, Coke Oven and Coke Oven related equipment, Gas Cleaning Plants, Aluminum refining, Copper smelting, Cement plants, Cooling Towers, Air Pollution Control units and associated equipment for Ferrous as well as Non Ferrous metallurgy.
  • Municipal Services- Shriram EPC focuses on Water and Water related systems include Water Treatment Plants, Effluent  and Sewage Treatment Plants, Water Pumping, Transmission and Distribution Systems. The Company is also a pioneer in India in Trenchless Technologies for the cleaning and Rehabilitation of underground utility pipes in both Municipal and Industrial Sectors.

Milestones Achieved   

  • 2013 SEPC certified as an IMS accredited organisation by TUV NORD
  • 2009 - SEPC make enter into solar power, mines and mineral processing business
  • 2009 - SEPC moves into new strategically located offices in Chennai, Delhi and Kolkata
  • 2009- The company implements SAP ERP.
  • 2008- Shriram EPC acquires 55% stake in Blackstone Technology Group Pvt. Ltd.
  • 2007- Execution of JV with Leitner Tech for manufacturing & marketing of megawatt class wind turbines. Foray into Air pollution control  with Hamon through JV.
  • 2006- Certification by DEWI OCC for designing & manufacturing 250kw wind turbine.  
  • 2005 – Investment by ChrysCap.
  • 2004- Acquisition of the cooling towers business of Shriram Tower Tech ltd.     
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