We hereby inform the Exchange of the Press Release titled "SEPC sees Neutral Financial Impact amid Independent Audit Order" Detailed letter is enclosed.
SEPC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and in line with its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SEPC Limited disclosed a February 19, 2026 interim order from the Madras High Court in an ongoing dispute with GPE (India) Ltd. The court ordered the attachment of ₹154.63 crore in trade receivables, out of SEPC's reported receivables of ₹449.62 crore, as a transitional measure. PriceWaterhouseCoopers has been appointed to conduct a focused review of SEPC's financial records, with a report due by March 23, 2026. The company claims a neutral financial impact because a 2015 indemnity agreement with co-respondent Twarit Consultancy Services covers all liabilities, and Twarit has already paid ₹164.5 crore under this indemnity. The dispute stems from a 2010 agreement (to which SEPC was not a party), with SEPC becoming a respondent in 2015 and the dispute arising in 2017, subsequently going through Singapore arbitration and Indian courts. Separately, Q3 FY26 results showed consolidated revenue of ₹796.89 crore and net profit of ₹39.81 crore for the nine months ended December 2025.
Despite the sizable court-ordered attachment, the indemnity coverage with Twarit is expected to shield SEPC's shareholders from direct financial loss, though the PWC audit and ongoing legal process introduce near-term uncertainty that may weigh on sentiment. The interim nature of the order and the company's strong nine-month FY26 operating performance provide some buffer, but investors should watch the March 23 PWC report for clarity.