Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹7.19, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 15x in the Construction industry in India. Total loss to shareholders of 18% over the past three years. Reported Earnings • May 26
Full year 2026 earnings released: EPS: ₹0.30 (vs ₹0.16 in FY 2025) Full year 2026 results: EPS: ₹0.30 (up from ₹0.16 in FY 2025). Revenue: ₹10.9b (up 82% from FY 2025). Net income: ₹535.4m (up 116% from FY 2025). Profit margin: 4.9% (up from 4.2% in FY 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Announcement • May 20
SEPC Limited to Report Q4, 2026 Results on May 25, 2026 SEPC Limited announced that they will report Q4, 2026 results on May 25, 2026 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹5.82, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 15x in the Construction industry in India. Total loss to shareholders of 41% over the past three years. New Risk • Mar 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₹7.99b market cap, or US$85.2m). Announcement • Mar 20
SEPC Limited (BSE:532945) signed a letter of intent to acquire Avenir International Engineers and Consultants LLC. SEPC Limited (BSE:532945) signed a letter of intent to acquire Avenir International Engineers and Consultants LLC on March 18, 2026.
The transaction is subject to approval of offer by Board of Directors of SEPC Limited. A meeting with the Board of Directors is scheduled to be held on March 23, 2026. New Risk • Mar 13
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹9.71b (US$105.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₹9.71b market cap, or US$105.1m). Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹5.32, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 15x in the Construction industry in India. Total loss to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Feb 18
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹8.48, the stock trades at a trailing P/E ratio of 26.6x. Average trailing P/E is 16x in the Construction industry in India. Total loss to shareholders of 34% over the past three years. New Risk • Feb 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Reported Earnings • Feb 09
Third quarter 2026 earnings released: EPS: ₹0.08 (vs ₹0.03 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.08 (up from ₹0.03 in 3Q 2025). Revenue: ₹3.41b (up 156% from 3Q 2025). Net income: ₹149.6m (up 237% from 3Q 2025). Profit margin: 4.4% (up from 3.3% in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Feb 04
SEPC Limited to Report Q3, 2026 Results on Feb 07, 2026 SEPC Limited announced that they will report Q3, 2026 results on Feb 07, 2026 Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹10.67, the stock trades at a trailing P/E ratio of 42.4x. Average trailing P/E is 18x in the Construction industry in India. Negligible returns to shareholders over past three years. Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹0.04 (vs ₹0.02 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.04 (up from ₹0.02 in 2Q 2025). Revenue: ₹2.51b (up 47% from 2Q 2025). Net income: ₹83.0m (up 262% from 2Q 2025). Profit margin: 3.3% (up from 1.3% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 125% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • Nov 11
SEPC Limited to Report Q2, 2026 Results on Nov 14, 2025 SEPC Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Sep 05
SEPC Limited, Annual General Meeting, Sep 29, 2025 SEPC Limited, Annual General Meeting, Sep 29, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.11 (vs ₹0.06 in 1Q 2025) First quarter 2026 results: EPS: ₹0.11 (up from ₹0.06 in 1Q 2025). Revenue: ₹2.02b (up 15% from 1Q 2025). Net income: ₹165.5m (up 105% from 1Q 2025). Profit margin: 8.2% (up from 4.6% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 134% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Aug 12
SEPC Limited to Report Q1, 2026 Results on Aug 14, 2025 SEPC Limited announced that they will report Q1, 2026 results on Aug 14, 2025 Announcement • Jul 14
SEPC Limited Appoints Venkataramani Jaiganesh as Additional Director (Executive), Effective July 14, 2025 SEPC Limited at its Board of Directors meeting held on July 14, 2025, considered and approved the appointment of Mr. Venkataramani Jaiganesh as Additional Director (Executive) based on the recommendation made by the Members of Nomination and Remuneration Committee with effect from July 14, 2025 and shall hold office up to the date of ensuing Annual General Meeting of the Company. Reported Earnings • May 28
Third quarter 2025 earnings released: EPS: ₹0.03 (vs ₹0.04 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.03 (down from ₹0.04 in 3Q 2024). Revenue: ₹1.33b (down 5.4% from 3Q 2024). Net income: ₹44.4m (down 20% from 3Q 2024). Profit margin: 3.3% (down from 3.9% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Announcement • May 23
SEPC Limited to Report Q4, 2025 Results on May 29, 2025 SEPC Limited announced that they will report Q4, 2025 results on May 29, 2025 New Risk • Mar 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: ₹0.03 (vs ₹0.04 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.03 (down from ₹0.04 in 3Q 2024). Revenue: ₹1.33b (down 5.4% from 3Q 2024). Net income: ₹44.4m (down 20% from 3Q 2024). Profit margin: 3.3% (down from 3.9% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 118% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Announcement • Feb 07
SEPC Limited to Report Q4, 2025 Results on Feb 13, 2025 SEPC Limited announced that they will report Q4, 2025 results on Feb 13, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹0.02 (vs ₹0.04 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.02 (down from ₹0.04 in 2Q 2024). Revenue: ₹1.82b (up 41% from 2Q 2024). Net income: ₹22.9m (down 59% from 2Q 2024). Profit margin: 1.3% (down from 4.4% in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Announcement • Nov 12
SEPC Limited to Report Q2, 2025 Results on Nov 14, 2024 SEPC Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Sep 11
SEPC Limited, Annual General Meeting, Sep 27, 2024 SEPC Limited, Annual General Meeting, Sep 27, 2024, at 12:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.06 (vs ₹0.04 in 1Q 2024) First quarter 2025 results: EPS: ₹0.06 (up from ₹0.04 in 1Q 2024). Revenue: ₹1.78b (up 24% from 1Q 2024). Net income: ₹80.8m (up 64% from 1Q 2024). Profit margin: 4.5% (up from 3.4% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Announcement • Aug 08
SEPC Limited to Report Q1, 2025 Results on Aug 14, 2024 SEPC Limited announced that they will report Q1, 2025 results on Aug 14, 2024 New Risk • Jul 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 195% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (2.8% increase in shares outstanding). New Risk • Jun 07
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Reported Earnings • May 30
Full year 2024 earnings released: EPS: ₹0.17 (vs ₹0.04 loss in FY 2023) Full year 2024 results: EPS: ₹0.17 (up from ₹0.04 loss in FY 2023). Revenue: ₹6.07b (up 60% from FY 2023). Net income: ₹227.8m (up ₹276.9m from FY 2023). Profit margin: 3.8% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Announcement • May 22
SEPC Limited to Report Q4, 2024 Results on May 28, 2024 SEPC Limited announced that they will report Q4, 2024 results on May 28, 2024 Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹0.04 (vs ₹0.03 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.04 (up from ₹0.03 in 3Q 2023). Revenue: ₹1.61b (up 31% from 3Q 2023). Net income: ₹55.3m (up 42% from 3Q 2023). Profit margin: 3.4% (up from 3.2% in 3Q 2023). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has increased by 76% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 06
SEPC Limited to Report Q3, 2024 Results on Feb 13, 2024 SEPC Limited announced that they will report Q3, 2024 results on Feb 13, 2024 Announcement • Jan 29
SEPC Limited Announces Resignation of Sriram Raju as Executive Director (Corporate) Heading Division (Water and Infrastructure Business), Effective February 01, 2024 SEPC Limited announced that Mr. Sriram Raju, Executive Director (Corporate) heading the division (Water and Infrastructure Business) has resigned from his position of a Senior Management Personnel with effect from February 01, 2024 due to certain personal reasons. Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹0.04 (vs ₹0.37 in 2Q 2023) Second quarter 2024 results: EPS: ₹0.04 (down from ₹0.37 in 2Q 2023). Revenue: ₹1.39b (up 153% from 2Q 2023). Net income: ₹56.5m (down 87% from 2Q 2023). Profit margin: 4.1% (down from 77% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 91% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹16.65, the stock trades at a trailing P/E ratio of 74x. Average trailing P/E is 22x in the Construction industry in India. Total returns to shareholders of 318% over the past three years. Announcement • Aug 31
SEPC Limited, Annual General Meeting, Sep 21, 2023 SEPC Limited, Annual General Meeting, Sep 21, 2023, at 11:00 Indian Standard Time. Agenda: To consider the Standalone and Consolidated Audited Financial Statements for the financial year ended 31st March 2023, together with the Reports of the Board of Directors and the Auditors' thereon be and are hereby considered, approved and adopted; to consider pursuant to Section 152(6) of the Companies Act, 2013, Mr. Abdulla Mohammad Ibrahim Hassan Abdulla who retires by rotation in the Annual General Meeting and being eligible offers himself for re-appointment, be and is hereby re-appointed as a Director of the Company liable to retire by rotation; to consider Ratification of remuneration of Cost Auditor for the financial year ending 31st March, 2024; and to consider other matters. Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: ₹0.04 (vs ₹0.31 loss in 1Q 2023) First quarter 2024 results: EPS: ₹0.04 (up from ₹0.31 loss in 1Q 2023). Revenue: ₹1.46b (up 146% from 1Q 2023). Net income: ₹49.3m (up ₹357.8m from 1Q 2023). Profit margin: 3.4% (up from net loss in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 26
Full year 2023 earnings released: ₹0.04 loss per share (vs ₹2.71 loss in FY 2022) Full year 2023 results: ₹0.04 loss per share (improved from ₹2.71 loss in FY 2022). Revenue: ₹3.99b (up 21% from FY 2022). Net loss: ₹49.0m (loss narrowed 98% from FY 2022). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 19
SEPC Limited to Report Q4, 2023 Results on May 25, 2023 SEPC Limited announced that they will report Q4, 2023 results on May 25, 2023 Reported Earnings • Feb 10
Third quarter 2023 earnings released: EPS: ₹0.03 (vs ₹0.68 loss in 3Q 2022) Third quarter 2023 results: EPS: ₹0.03 (up from ₹0.68 loss in 3Q 2022). Revenue: ₹1.24b (up 39% from 3Q 2022). Net income: ₹38.9m (up ₹705.3m from 3Q 2022). Profit margin: 3.1% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has increased by 51% per year, which means it is well ahead of earnings. Announcement • Feb 02
SEPC Limited to Report Q3, 2023 Results on Feb 09, 2023 SEPC Limited announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 18
Second quarter 2023 earnings released: EPS: ₹0.37 (vs ₹0.27 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹0.37 (up from ₹0.27 loss in 2Q 2022). Revenue: ₹561.8m (down 31% from 2Q 2022). Net income: ₹422.0m (up ₹684.3m from 2Q 2022). Profit margin: 75% (up from net loss in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Board Change • Nov 16
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Non-Independent Director Abdulla Mohammad Ibrahim Abdulla is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Nov 10
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Non-Independent Director Abdulla Mohammad Ibrahim Abdulla is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 15
First quarter 2023 earnings released: ₹0.31 loss per share (vs ₹0.36 loss in 1Q 2022) First quarter 2023 results: ₹0.31 loss per share (up from ₹0.36 loss in 1Q 2022). Revenue: ₹685.5m (up 3.0% from 1Q 2022). Net loss: ₹308.5m (loss narrowed 13% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 26
Full year 2022 earnings released: ₹2.71 loss per share (vs ₹1.85 loss in FY 2021) Full year 2022 results: ₹2.71 loss per share (down from ₹1.85 loss in FY 2021). Revenue: ₹3.39b (down 42% from FY 2021). Net loss: ₹2.64b (loss widened 47% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Nominee Director Kallika Agarwal was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 15
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.68 loss per share (down from ₹0.62 loss in 3Q 2021). Revenue: ₹819.4m (down 34% from 3Q 2021). Net loss: ₹666.4m (loss widened 10% from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Board Change • Dec 06
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Nominee Director Kallika Agarwal was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 19
Non-Executive Independent Director recently bought ₹135k worth of stock On the 15th of November, Chandra Ramesh bought around 20k shares on-market at roughly ₹6.74 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Aug 18
First quarter 2022 earnings released: ₹0.36 loss per share (vs ₹0.31 loss in 1Q 2021) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2022 results: Revenue: ₹665.6m (down 48% from 1Q 2021). Net loss: ₹354.8m (loss widened 19% from 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 02
Full year 2021 earnings released: ₹1.85 loss per share (vs ₹0.80 loss in FY 2020) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹5.83b (down 52% from FY 2020). Net loss: ₹1.79b (loss widened 132% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Executive Departure • Jun 11
VP, Company Secretary & Compliance Officer K. Suresh has left the company On the 4th of June, K. Suresh's tenure as VP, Company Secretary & Compliance Officer ended. We don't have any record of a personal shareholding under Suresh's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 13.25 years. Reported Earnings • Feb 17
Third quarter 2021 earnings released: ₹0.62 loss per share (vs ₹0.04 profit in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and control over costs. Third quarter 2021 results: Revenue: ₹1.32b (down 61% from 3Q 2020). Net loss: ₹605.1m (down ₹648.7m from profit in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 96% per year but the company’s share price has only fallen by 47% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Jan 07
New 90-day high: ₹5.50 The company is up 33% from its price of ₹4.15 on 09 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Construction industry, which is up 38% over the same period. Is New 90 Day High Low • Dec 16
New 90-day high: ₹5.00 The company is up 33% from its price of ₹3.75 on 17 September 2020. The Indian market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Construction industry, which is up 25% over the same period.