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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
₹5.11 0.15 (3.02%)
As on 29-Sep'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
₹5.11 0.15 (3.02%)
As on 29-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹994 Cr.
Current Price
₹5.1
52-Week Low / High
₹5 / 12
TTM EPS
₹0.1
TTM Sales
₹1,126 Cr.
Book Value per Share
₹9.6
P/E Ratio
38.33
Lower than its 3-year historical median
Industry PE
23.6
Price to Book (P/B)
0.53
Lower than its 5-year historical median
Price to Sales (P/S)
0.88
Lower than its 5-year historical median
EV/EBITDA
12.09
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
3.19%
Underperforms industry median
Return on Capital Employed (ROCE)
5.57%
Underperforms industry median
Return on Assets (ROA)
2.22%
Operating Profit Margin
10.7%
Net Profit Margin
5.08%
Gross Profit Margin
6.5%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
6.54%
Operating Profit Growth (1 Year)
-
39.7%
Net Profit Growth (1 Year)
-
115.54%
Asset Quality
Promoter Holding
11.67%
Pledged shares (%) of Promoter's holding (%)
79.36%
Reserves
₹-85 Cr.
Equity
₹1,945.5 Cr.
Face Value
₹10
All Time Low / High
₹1.76 / 335.79
Check Before You Invest
Quality
Not GoodValuation
UndervaluedCheck Valuation charts
Price Trend
Weak
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?
Revenue growth of SEPC Ltd vs industry peers?
SEPC Ltd revenue CAGR is -13.13%, compared to the industry median CAGR of 0%, indicating slower growth and losing its market share.
Promoter shareholding and pledge status of SEPC Ltd?
Promoters hold 11.67% of the SEPC Ltd, with 79.36% of their stake pledged, indicating high pledge risk.
Stock return of SEPC Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -13.4% 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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 ⓘ | 548 | 520 | 615 | 741 | 681 | 532 | 303 | 379 | 561 | 598 | 588 |
| 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 | -1.4 | 0.1 | 0.3 | -0.3 | -1.6 | -1.9 | -0.7 | 0.2 | 0.2 | -0 |
| YoY Gr. | - | NA | NA | 190% | -206.9% | NA | NA | NA | NA | 40% | - |
| BVPS (₹) ⓘ | 10.6 | 10.8 | 11.3 | 11.6 | 10.9 | 9.2 | 6.9 | 7.4 | 7.8 | 8.6 | 9.4 |
| Adj Net Profit ⓘ | -169 | -147 | 10.7 | 31.8 | -33.6 | -175 | -204 | -106 | 22.6 | 34.9 | -4 |
| Cash Flow from Ops. ⓘ | -151 | -48.6 | 66.6 | 264 | 9.3 | -46.8 | -69.9 | 21.2 | -119 | -133 | - |
| Debt/CF from Ops. ⓘ | -13 | -17.3 | 12 | 2.5 | 73.3 | -17.9 | -14 | 19.2 | -3.8 | -2.7 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 1% | -2.6% | 25.4% | 6.5% | ||||
| Adj EPS ⓘ | NA | NA | NA | 40% | ||||
| BVPSⓘ | -2.3% | -4.5% | 7.9% | 10.9% | ||||
| Share Price | -13.4% | -1.4% | -24.6% | -57.2% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | -65.2 | -18.6 | 0.9 | 2.6 | -2.8 | -16.1 | -23.5 | -11.6 | 2 | 2.6 | -0.2 |
| Op. Profit Mgn % ⓘ | 5.2 | 1.4 | 6.2 | 9.5 | 8.5 | -11.4 | -6.8 | -14.4 | 6.1 | 10.8 | 6.2 |
| Net Profit Mgn % ⓘ | -30.9 | -28.4 | 1.8 | 4.3 | -4.9 | -32.9 | -67.5 | -27.9 | 4 | 5.8 | -0.7 |
| Debt to Equity ⓘ | 5 | 0.8 | 0.7 | 0.5 | 0.6 | 0.8 | 1.3 | 0.4 | 0.4 | 0.3 | - |
| Working Cap Days ⓘ | 1,804 | 1,720 | 1,228 | 1,018 | 1,036 | 1,250 | 2,023 | 1,454 | 993 | 1,077 | 590 |
| Cash Conv. Cycle ⓘ | 105 | 177 | 153 | 68 | 66 | 101 | 140 | 100 | 51 | 19 | 424 |
Valuation of SEPC - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 7.89 | 33.95 | 33.95 | 33.95 | 0.00 | 33.95 | 33.95 | 43.47 | 71.45 | 79.36 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 744 | 829 | 1,202 | 1,208 | 583 | 329 | 379 | 561 | 598 | 1,054 |
| Operating Expenses ⓘ + | 724 | 803 | 1,109 | 1,189 | 641 | 367 | 438 | 630 | 533 | 965 |
| Operating Profit ⓘ | 20 | 26 | 92 | 19 | -58 | -37 | -59 | -69 | 64 | 90 |
| Operating Profit Margin (%) | 2.7% | 3.1% | 7.7% | 1.5% | -10.0% | -11.3% | -15.7% | -12.2% | 10.7% | 8.5% |
| Other Income ⓘ + | 88 | 105 | 74 | 91 | 23 | 11 | 20 | 148 | 48 | 31 |
| Interest ⓘ | 311 | 114 | 125 | 115 | 126 | 125 | 67 | 52 | 58 | 53 |
| Depreciation ⓘ | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 5 | 5 | 5 |
| Profit Before Tax ⓘ | -213 | 11 | 31 | -77 | -178 | -221 | 25 | 23 | 35 | 62 |
| Tax ⓘ | -75 | 14 | 1 | 0 | 1 | 43 | 30 | 0 | 10 | 9 |
| Profit After Tax | -137 | -2 | 31 | -77 | -179 | -264 | -5 | 23 | 25 | 54 |
| PAT Margin (%) | -18.5% | -0.3% | 2.5% | -6.4% | -30.8% | -80.0% | -1.3% | 4.1% | 4.2% | 5.1% |
| Adjusted EPS (₹) | -1.3 | -0.0 | 0.3 | -0.7 | -1.7 | -2.4 | -0.0 | 0.2 | 0.2 | 0.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 1,141 | 1,228 | 1,259 | 1,184 | 1,004 | 738 | 1,086 | 1,210 | 1,435 | 1,916 | |
| Debt + | 836 | 793 | 633 | 658 | 789 | 846 | 404 | 449 | 352 | 336 | |
| Minority Interest | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | |
| Trade Payables | 256 | 444 | 539 | 438 | 340 | 340 | 380 | 304 | 411 | 720 | |
| Others Liabilities ⓘ | 215 | 280 | 136 | -100 | -139 | -80 | -218 | -103 | -151 | -211 | |
| Total Liabilities ⓘ | 2,448 | 2,747 | 2,568 | 2,182 | 1,995 | 1,845 | 1,654 | 1,861 | 2,050 | 2,764 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 61 | 56 | 55 | 51 | 45 | 41 | 36 | 31 | 26 | 22 | |
| CWIP ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Investments ⓘ | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 0 | 2 | |
| Inventories | 38 | 38 | 38 | 3 | 2 | 0 | 0 | 0 | 0 | 0 | |
| Trade Receivables | 482 | 364 | 485 | 480 | 402 | 373 | 292 | 300 | 368 | 589 | |
| Cash Equivalents | 101 | 61 | 112 | 61 | 37 | 30 | 50 | 61 | 49 | 75 | |
| Others Assets ⓘ | 1,765 | 2,228 | 1,877 | 1,586 | 1,508 | 1,401 | 1,275 | 1,469 | 1,606 | 2,076 | |
| Total Assets ⓘ | 2,448 | 2,747 | 2,568 | 2,182 | 1,995 | 1,845 | 1,654 | 1,861 | 2,050 | 2,764 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 12 | 28 | 302 | -7 | -50 | -72 | 21 | -121 | -133 | -263 |
| Cash Flow From Investing Activity ⓘ + | -6 | 21 | -38 | 40 | 21 | 1 | 12 | -24 | 4 | -7 |
| Cash Flow From Financing Activity ⓘ + | 35 | -81 | -257 | -52 | 25 | 68 | -6 | 130 | 118 | 289 |
| Net Cash Flow ⓘ | 42 | -32 | 7 | -19 | -4 | -3 | 27 | -15 | -11 | 19 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | -17.95 | -0.18 | 2.46 | -6.33 | -16.41 | -30.28 | -0.54 | 1.98 | 1.88 | 3.19 |
| ROCE (%) | 4.44 | 6.24 | 7.94 | 2 | -2.79 | -5.38 | 5.78 | 4.72 | 5.31 | 5.57 |
| Asset Turnover Ratio | 0.27 | 0.32 | 0.45 | 0.51 | 0.28 | 0.17 | 0.22 | 0.32 | 0.31 | 0.44 |
| PAT to CFO Conversion(x) | N/A | N/A | 9.74 | N/A | N/A | N/A | N/A | -5.26 | -5.32 | -4.87 |
| Working Capital Days | ||||||||||
| Receivable Days | 189.70 | 186.30 | 128.80 | 145.80 | 276.20 | 429.10 | 320.10 | 192.60 | 204 | 165.70 |
| Inventory Days | 20.50 | 16.70 | 11.60 | 6.30 | 1.80 | 0 | 0 | 0 | 0 | 0 |
| Payable Days | 0 | 0 | 0 | 4,200.40 | 0 | 0 | 0 | 0 | 0 | 0 |
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SEPC Ltd FAQs
The current trading price of SEPC on 29-Sep-2026 16:59 is ₹5.11.
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 28-Sep-2026 the market cap of SEPC stood at ₹994.2 Cr
The latest P/E ratio of SEPC as of 28-Sep-2026 is 0.00.
The latest P/B ratio of SEPC as of 28-Sep-2026 is 0.55.
The 52-week high of SEPC is ₹12.30 and the 52-week low is ₹4.63.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SEPC is ₹588 ( 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 Undervalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of SEPC Ltd is likely to Fall 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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