Sepc Limited
SEPC (Shriram EPC Ltd till February 2021) was incorporated in June 2000. The company became majority owned by Mark AB since September 2022 post infusion of Rs 350 crore. SEPC specialises in executing EPC contracts, providing integrated solutions enco...
Key Metrics
EPS
0.16
Current ratio
2.43
Debt/Equity
0.57
Debt/EBITDA
8.59
Interest coverage ratio
1.44
Operating Cashflow to total debt
-0.18
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Established market position with a long track record in the mid-sized EPC business
Modest business risk profile reflected in the order book position
Experienced and capable new management, in Mark AB, who is the single largest shareholder in the company
Liquidity: Adequate
Cons
Working capital-intensive operations
Modest financial risk profile
Susceptibility to volatility in raw material prices
Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -3.70%
The company has delivered a poor sales growth of -14.1% over past five years.
Promoter holding is low: 33.9%
Company has a low return on equity of -10.2% over last 3 years.
Promoters have pledged 34.0% of their holding.
Earnings include an other income of Rs.47.4 Cr.
Company has high debtors of 195 days.
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About Sepc Limited bond.
This comprehensive profile covers key factual information about Sepc Limited. SEPC (Shriram EPC Ltd till February 2021) was incorporated in June 2000. The company became majority owned by Mark AB since September 2022 post infusion of Rs 350 crore. SEPC specialises in executing EPC contracts, providing integrated solutions encompassing design, engineering, procurement, construction and project management services in water, process and process and metallurgy, and infrastructure segments. Mark AB is the largest stakeholder in SEPC, with 29.6% stake as on March 31, 2023. For the first 9 months of fiscal 2024, SEPC had a net profit of Rs 16 crore and operating income of Rs 413 crore compared with Rs 8 crore and Rs 237 crore, respectively, during the corresponding period of the previous fiscal. EPS in Mar-2024 was 0.16. Current ratio in Mar-2024 was 2.43. Debt/Equity in Mar-2024 was 0.57. Debt/EBITDA in Mar-2024 was 8.59. Interest coverage ratio in Mar-2024 was 1.44. Operating Cashflow to total debt in Mar-2024 was -0.18. Total revenue for Mar-2025(E) was ₹601.80. Net income for Mar-2025(E) stood at ₹110.06. Total assets as of Mar-2024 were ₹2,209.30. Operating cash flow for Mar-2024 was ₹-120.83. The company’s borrowing relationships include IDBI Bank Limited (₹N/A Cr), Central Bank Of India (₹N/A Cr), Indian Bank (₹N/A Cr), Bank of India (₹N/A Cr), The Federal Bank Limited (₹N/A Cr), YES Bank Limited (₹N/A Cr), Punjab National Bank (₹N/A Cr), Axis Bank Limited (₹N/A Cr), Bank of Maharashtra (₹N/A Cr), Union Bank of India (₹N/A Cr), IndusInd Bank Limited (₹N/A Cr), DBS Bank India Limited (₹N/A Cr), Asset Reconstruction Company (India) Limited (₹N/A Cr), State Bank of India (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Punjab National Bank (₹N/A Cr), Axis Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), Central Bank Of India (₹N/A Cr), YES Bank Limited (₹N/A Cr), IFCI Limited (₹N/A Cr), IndusInd Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Indian Bank (₹N/A Cr), Bank of India (₹N/A Cr), The Federal Bank Limited (₹N/A Cr), DBS Bank India Limited (₹N/A Cr), Bank of Baroda (₹N/A Cr), Bank of Maharashtra (₹N/A Cr), Union Bank of India (₹N/A Cr), Punjab National Bank (₹N/A Cr), Axis Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), Central Bank Of India (₹N/A Cr), State Bank of India (₹N/A Cr), The Federal Bank Limited (₹N/A Cr), Asset Reconstruction Company (India) Limited (₹N/A Cr), Bank of Maharashtra (₹N/A Cr), Union Bank of India (₹N/A Cr), IndusInd Bank Limited (₹N/A Cr), Indian Bank (₹N/A Cr), Bank of India (₹N/A Cr), Asset Reconstruction Company (India) Limited (₹N/A Cr), Asset Reconstruction Company (India) Limited (₹N/A Cr), Central Bank Of India (₹N/A Cr). Peers and comparison entities consist of Sepc Limited, Larsen and Toubro Limited, GMR Airports Limited, IRB Infrastructure Developers Limited. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Established market position with a long track record in the mid-sized EPC business; Modest business risk profile reflected in the order book position; Experienced and capable new management, in Mark AB, who is the single largest shareholder in the company; Liquidity: Adequate; ; ; ; ; ; ; . Key risks include: Working capital-intensive operations; Modest financial risk profile; Susceptibility to volatility in raw material prices; Company has low interest coverage ratio.; Promoter holding has decreased over last quarter: -3.70%; The company has delivered a poor sales growth of -14.1% over past five years.; Promoter holding is low: 33.9%; Company has a low return on equity of -10.2% over last 3 years.; Promoters have pledged 34.0% of their holding.; Earnings include an other income of Rs.47.4 Cr.; Company has high debtors of 195 days.. Leadership team details include Abdulla Mohammad Ibrahim Hassan Abdulla (Chairman of the Board of Directors), N K Suryanarayanan (Managing Director and CEO), R S Chandrasekharan (Chief Financial Officer), T Sriraman (Company Secretary and Compliance Officer), R Ravichandran (Independent Director), Arun Kumar Gopalaswamy (Independent Director), Rajesh Kumar Bansal (Independent Director), S Gayathri (Independent Director), Mr. R Venkatramanan (President - Cost Engineering), Mr. KN Khan (President, Head - Water & Infra), Mr. D Arivalagan (Director - Technology), G. Harikrishnan (Head - HR & Admin). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.