We enclose the Outcome of the Board Meeting held today. Detailed letter is enclosed.
SEPC · price
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SEPC Limited's board approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Consolidated revenue from operations rose to Rs 20,227.83 lakhs from Rs 17,582.38 lakhs in Q1 FY25 (~15% growth), while consolidated profit after tax more than doubled to Rs 1,654.72 lakhs from Rs 807.97 lakhs. On a standalone basis, revenue fell sharply to Rs 7,904.28 lakhs from Rs 17,582.38 lakhs, though PAT stood at Rs 685.99 lakhs. The board also designated Mr. Venkataramani Jaiganesh (Whole-time Director) as KMP and appointed M/s SJN & Associates as Secretarial Auditor for five years (FY26–FY30). During the quarter, the company allotted 35 crore equity shares via a rights issue of Rs 35,000 lakhs, of which Rs 17,500 lakhs was received post-quarter.
The consolidated earnings show strong recovery, with PAT more than doubling, but standalone revenue decline of over 55% raises concerns about the parent's core EPC business. The auditor issued a qualified conclusion on both standalone and consolidated results due to uncertainty around a Rs 29,315 lakh deferred tax asset and recoverability of overdue contract assets of Rs 6,959.44 lakhs. Shareholders should note the persistent qualifications, accumulated losses of Rs 2,09,178.77 lakhs, and the fresh equity dilution from the rights issue.