SEPC Ltd

₹ 18.7 3.31%

08 May 4:01 p.m.

About

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.^[1]

Key Points

Services

Website BSE NSE

Market Cap ₹ 2,636 Cr.
Current Price ₹ 18.7
High / Low ₹ 27.7 / 7.38
Stock P/E
Book Value ₹ 8.12
Dividend Yield 0.00 %
ROCE -3.01 %
ROE -12.7 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is expected to give good quarter

Cons

Company has low interest coverage ratio.
Promoter holding has decreased over last quarter: -0.79%
The company has delivered a poor sales growth of -9.24% over past five years.
Promoter holding is low: 27.0%
Company has a low return on equity of -16.9% over last 3 years.
Earnings include an other income of Rs.39.8 Cr.
Company has high debtors of 234 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	122.28	164.17	65.88	80.38	64.13	92.39	59.24	54.93	122.45	142.23	143.28	129.18	140.70
	160.95	192.13	76.51	88.37	82.52	85.72	70.09	136.39	108.50	128.76	130.26	120.26	142.48
Operating Profit	-38.67	-27.96	-10.63	-7.99	-18.39	6.67	-10.85	-81.46	13.95	13.47	13.02	8.92	-1.78
OPM %	-31.62%	-17.03%	-16.14%	-9.94%	-28.68%	7.22%	-18.32%	-148.30%	11.39%	9.47%	9.09%	6.91%	-1.27%
	6.88	-6.45	1.92	2.22	1.61	-60.41	1.72	136.35	4.07	8.11	2.58	8.95	20.11
Interest	27.59	25.36	26.95	28.95	29.81	29.98	27.22	11.55	12.27	9.34	9.08	11.11	11.40
Depreciation	1.38	1.31	1.32	1.31	1.31	1.60	1.37	1.36	2.03	1.39	1.34	1.33	1.32
Profit before tax	-60.76	-61.08	-36.98	-36.03	-47.90	-85.32	-37.72	41.98	3.72	10.85	5.18	5.43	5.61
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	-50.14%	0.00%	0.00%	0.00%	278.53%	0.00%	0.00%	0.00%
	-60.76	-61.08	-36.98	-36.03	-47.90	-128.10	-37.73	41.99	3.73	-19.37	5.18	5.43	5.61
EPS in Rs	-0.59	-0.59	-0.36	-0.35	-0.46	-1.24	-0.29	0.30	0.03	-0.14	0.04	0.04	0.04
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Jun 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	1,382	1,705	495	548	548	520	615	741	681	532	303	379	555
	1,157	1,444	752	614	519	525	587	681	623	593	323	433	522
Operating Profit	225	261	-257	-67	28	-6	28	60	58	-61	-21	-54	34
OPM %	16%	15%	-52%	-12%	5%	-1%	5%	8%	8%	-11%	-7%	-14%	6%
	23	-141	67	121	6	83	105	70	-20	10	-55	147	40
Interest	197	411	231	301	272	298	104	95	114	126	125	67	41
Depreciation	12	14	4	6	7	6	6	6	6	5	6	6	5
Profit before tax	39	-305	-425	-253	-244	-226	24	29	-81	-183	-206	19	27
Tax %	35%	14%	-3%	-0%	0%	33%	56%	0%	0%	0%	-21%	160%
	26	-263	-439	-253	-244	-151	11	29	-81	-183	-249	-11	-3
EPS in Rs	5.39	-55.57	-92.89	-27.42	-6.92	-1.51	0.10	0.28	-0.78	-1.77	-2.40	-0.08	-0.02
Dividend Payout %	21%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	-9%
3 Years:	-18%
TTM:	69%

Compounded Profit Growth
10 Years:	%
5 Years:	%
3 Years:	%
TTM:	99%

Stock Price CAGR
10 Years:	-6%
5 Years:	21%
3 Years:	64%
1 Year:	73%

Return on Equity
10 Years:	%
5 Years:	-9%
3 Years:	-17%
Last Year:	-13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Jun 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	44	44	44	86	331	937	972	972	972	972	972	1,322	1,371
Reserves	463	200	-239	-324	126	192	258	287	206	23	-225	-237	-227
Preference Capital	0	0	300	300	0	0	0	0	0	0	0	0
	1,837	1,572	1,723	2,122	1,967	841	800	657	684	836	981	409	422
	921	629	887	777	527	567	633	622	552	441	321	368	402
Total Liabilities	3,266	2,446	2,415	2,661	2,952	2,537	2,662	2,537	2,414	2,271	2,048	1,861	1,968
	126	45	43	41	55	61	56	54	49	44	41	36	34
CWIP	0	9	27	29	10	0	0	0	0	0	0	0	0
Investments	290	244	45	45	5	1	1	1	1	1	1	1	1
	2,850	2,148	2,300	2,545	2,881	2,475	2,605	2,482	2,363	2,226	2,006	1,824	1,934
Total Assets	3,266	2,446	2,415	2,661	2,952	2,537	2,662	2,537	2,414	2,271	2,048	1,861	1,968

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Jun 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	-540	426	-374	-298	-151	-49	67	264	9	-47	-70	21
	-27	-114	167	14	47	-6	22	-38	38	21	1	12
	510	-640	215	306	82	57	-83	-238	-50	25	68	-6
Net Cash Flow	-57	-328	8	22	-22	3	5	-12	-3	-0	-1	27

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2012	Jun 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	326	125	181	172	194	339	225	170	202	225	338	234
Inventory Days			195	679	421				34
Days Payable			519	1,838	1,891				3,191
Cash Conversion Cycle	326	125	-142	-986	-1,277	339	225	170	-2,955	225	338	234
Working Capital Days	381	266	292	522	642	634	517	498	555	664	1,158	752
ROCE %	12%	15%		2%	6%	3%	6%	7%	5%	-2%	-1%	-3%

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	28.76%	28.76%	28.76%	28.76%	22.82%	47.62%	47.62%	31.08%	26.66%	27.75%	27.75%	26.97%
	0.00%	0.00%	0.00%	0.20%	0.22%	0.20%	0.16%	0.19%	0.21%	0.34%	0.42%	0.47%
	61.14%	58.28%	56.76%	55.53%	44.02%	40.79%	40.79%	40.79%	39.30%	37.53%	26.58%	25.16%
	10.10%	12.96%	14.48%	15.51%	32.95%	11.38%	11.42%	27.94%	33.82%	34.38%	45.24%	47.41%
No. of Shareholders	34,545	35,157	43,739	57,903	53,717	51,592	50,912	50,285	54,828	82,043	1,28,326	1,62,331

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	29.82%	28.76%	28.76%	28.76%	28.76%	28.76%	31.08%	26.97%
	0.12%	0.13%	0.05%	0.00%	0.00%	0.20%	0.19%	0.47%
	67.45%	67.29%	66.96%	66.55%	64.30%	55.53%	40.79%	25.16%
	2.61%	3.83%	4.23%	4.69%	6.94%	15.51%	27.94%	47.41%
No. of Shareholders	17,037	20,111	20,452	20,290	25,118	57,903	50,285	1,62,331

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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SEPC Ltd

SEPC Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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