Integrated Filing — IndAS



General information about company
Scrip Code 532945
NSE Symbol SEPC
MSEI Symbol NOTLISTED
ISIN INE964H01014
Name of company SEPC LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 29-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 23-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment CONTRACT
Start date and time of board meeting 29-May-2025   13:00:00
End date and time of board meeting 29-May-2025   17:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2025-02-13
Indicate Company website link for updated RPT policy of the Company https://www.shriramepc.com/Companies-Act-and-SEBI-Compliances.aspx
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not Applicable for the period



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 1178025000 5976533000
Other income 83116000 483634000
Total income 1261141000 6460167000
2 Expenses
(a) Cost of materials consumed 831182000 4725699000
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 0 0
(d) Employee benefit expense 82733000 327127000
(e) Finance costs 123052000 447782000
(f) Depreciation, depletion and amortisation expense 12717000 50878000
(f) Other Expenses
1 Other Expenses 109774000 414906000
Total other expenses 109774000 414906000
Total expenses 1159458000 5966392000
3 Total profit before exceptional items and tax 101683000 493775000
4 Exceptional items 0 -138925000
5 Total profit before tax 101683000 354850000
6 Tax expense
7 Current tax 0 0
8 Deferred tax 0 103393000
9 Total tax expenses 0 103393000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 0 0
11 Net Profit Loss for the period from continuing operations 101683000 251457000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period 101683000 251457000
17 Other comprehensive income net of taxes -1443000 -3807000
18 Total Comprehensive Income for the period 100240000 247650000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 15636598000 15636598000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve -606736000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations 0.07 0.16
Diluted earnings (loss) per share from continuing operations 0.07 0.16
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 0.07 0.16
Diluted earnings (loss) per share from continuing and discontinued operations 0.07 0.16
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Assets
1 Non-current assets
Property, plant and equipment 241913000
Capital work-in-progress 0
Investment property 0
Goodwill 0
Other intangible assets 1988000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 6968000
Trade receivables, non-current 1923376000
Loans, non-current 69617000
Other non-current financial assets 139659000
Total non-current financial assets 2139620000
Deferred tax assets (net) 3928962000
Other non-current assets 1273231000
Total non-current assets 7585714000
2 Current assets
Inventories 0
Current financial asset
Current investments 0
Trade receivables, current 2945449000
Cash and cash equivalents 71791000
Bank balance other than cash and cash equivalents 419026000
Loans, current 0
Other current financial assets 18595000
Total current financial assets 3454861000
Current tax assets (net) 0
Other current assets 12093585000
Total current assets 15548446000
3 Non-current assets classified as held for sale 0
4 Regulatory deferral account debit balances and related deferred tax Assets 0
Total assets 23134160000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 15636598000
Other equity -606736000
Total equity attributable to owners of parent 15029862000
Non controlling interest
Total equity 15029862000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 2616179000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 179861000
Total non-current financial liabilities 2796040000
Provisions, non-current 56784000
Deferred tax liabilities (net) 0
Deferred government grants, Non-current 0
Other non-current liabilities 334197000
Total non-current liabilities 3187021000
Current liabilities
Current financial liabilities
Borrowings, current 948242000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 3438291000
Total Trade payable 3438291000
Other current financial liabilities 86984000
Total current financial liabilities 4473517000
Other current liabilities 430176000
Provisions, current 13584000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 4917277000
3 Liabilities directly associated with assets in disposal group classified as held for sale 0
4 Regulatory deferral account credit balances and related deferred tax liability 0
Total liabilities 8104298000
Total equity and liabilites 23134160000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss 1443000 3807000
5 Total Other comprehensive income -1443000 -3807000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 354850000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 447782000
Adjustments for decrease (increase) in inventories 0
Adjustments for decrease (increase) in trade receivables, current -845895000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -1745953000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 0
Adjustments for other financial assets, current -35180000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current 1574364000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities 8072000
Adjustments for increase (decrease) in other non-current liabilities 0
Adjustments for depreciation and amortisation expense 50877000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current -83577000
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current -759305000
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income -28342000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) -274057000
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -1634530000
Net cash flows from (used in) operations -1279680000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 45336000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -1325016000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 1228000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 31733000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 6743000
Net cash flows from (used in) investing activities 37248000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 2000000000
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 613925000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 197946000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -10303000
Net cash flows from (used in) financing activities 1177826000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes -109942000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents -109942000
Cash and cash equivalents cash flow statement at beginning of period 181733000
Cash and cash equivalents cash flow statement at end of period 71791000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 M S K A & Associates Yes 31-Jul-2027


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 6460167000 6460167000
2 Total Expenditure 5966392000 5966392000
3 Net Profit/(Loss) 493775000 493775000
4 Earnings Per Share 0.16 0.16
5 Total Assets 23134160000 23134160000
6 Total Liabilities 8104298000 8104298000
7 Net Worth 15029862000 15029862000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)


Text Block
Textual Information(1) The carrying value of Deferred Tax Asset (DTA) as on March 31, 2025, include an amount of Rs. 29,548.46 Lakhs (March 31, 2024 Rs.30,870.91 lakhs), which was recognized on carried forward business losses of Rs. 84,559.48 Lakhs (March 31, 2024 Rs.88,343.94 lakhs). Due to non-availability of sufficient appropriate audit evidence to corroborate managements assessment that sufficient taxable profits will be available in the future against which such carried forward business losses can be utilised as required by Ind AS 12: Income taxes, we are unable to comment on adjustments, if any, that may be required to the carrying value of the aforesaid DTA as on March 31, 2025. (Refer Note 06 of the Statement). n nNote no.6 as appearing in the standalone financial results for the quarter and year ended March 31, 2025 n nThe Company has business losses which are allowed to be carried forward and set off against available future taxable profits under the Income Tax Act, 1961, in respect of which the Company has created Deferred Tax Assets (DTA). The Company has recognised DTA on the carry forward unabsorbed business losses only to the extent of Rs.84,559.48 lakhs (March 31, 2024: Rs.88,343.94 lakhs) out of the total carry forward unabsorbed business losses of Rs.92,648.02 lakhs that was available as at March 31, 2025 (March 31, 2024- Rs.1,04,486.51 lakhs). The DTA amount recognised by the Company on these carry forward unabsorbed business losses amounts to Rs. 29,548.46 lakhs as at March 31, 2025 (March 31, 2024- Rs.30,870.91 lakhs). Considering the potential order book as on date, the current projects in the pipeline and a positive future outlook for the Company, the management of the Company is confident of generating sufficient taxable profits in the future and adjust them against these unabsorbed business losses, and accordingly, the DTA as on March 31, 2025,can be utilised before the expiry of the period for which this benefit is available. nThe auditors have qualified this matter in their report for the quarter and year ended March 31, 2025. n
Textual Information(2) Not applicable
Textual Information(3) Nil
Textual Information(4) The management is of the view that the entire amount is recoverable.
Textual Information(5) NA
Textual Information(6) Non-Current Contract Assets include overdue balances of Rs.6,959.44 Lakhs as on March 31, 2025 (March 31, 2024 Rs.6,959.44 Lakhs) [net of provisions amounting to Rs.926.98. Lakhs (March 31, 2024 Rs.926.98 lakhs)] and Non-Current Trade Receivables include overdue balances Rs.495.18 Lakhs as on March 31, 2025 (March 31, 2024 Rs.495.18 lakhs) [net of provisions amounting to Rs. 82.99 Lakhs (March 31, 2024: Rs.82.99 lakhs)], relating to dues on projects which have been stalled due to delays in obtaining approvals from the regulatory authorities. Due to the non-availability of sufficient appropriate audit evidence to corroborate managements assessment of the recoverability of the said balances on these projects, we are unable to comment on the carrying value of these non- current Contract Assets and non-current Trade Receivables and the consequential impact if any, on the Statement of the Company for the quarter and year ended March 31, 2025. (Refer Note 03 of the Statement). n nNote no.3 as appearing in the standalone financial results for the quarter and year ended March 31, 2025 n nNon-Current Contract Assets include overdue balances of Rs. 6,959.44 lakhs as at March 31, 2025 (March 31, 2024 Rs.6,959.44 Lakhs), which are net of provisions of Rs. 926.98 lakhs as at March 31, 2025 (March 31, 2024: Rs.926.98 lakhs). Non-Current Trade Receivable include overdue balances of Rs 495.18 lakhs as at March 31, 2025 (March 31, 2024, Rs.495.18 lakhs), which are net of provisions of Rs 82.99 lakhs as at March 31, 2025 (March 31, 2024: Rs.82.99 lakhs). Both the above amounts pertain to projects which have been stalled due to delays in obtaining approvals from the regulatory authorities. One of the customers in the said projects is undergoing liquidation process, in respect of which the Company is confident of recovering the dues based on the realisability of the assets available with the said customer. Further, considering the ongoing negotiations with the customers, the management of the Company is confident of recovering both the dues in full. nThe auditors have qualified this matter in their report for the quarter and Year ended March 31, 2025. n
Textual Information(7) Not Applicable
Textual Information(8) Nil
Textual Information(9) The management is of the view that the entire amount is recoverable.
Textual Information(10) NA


Signatories detail
Name of CEO / Managing director N K Suryanarayanan
Name of CFO R .S Chandrasekharan
Name of audit committee chairman Dr. Ravichandran Rajagopalan
Name of statutory auditor M S K A & Associates
Name of other signatory, if any, with designation NA
Place Chennai
Date 29-May-2025


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity/subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of the related party transaction ratified by the audit committee Date of Audit Committee Meeting where the ratification was approved Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 SEPC LIMITED MARK AB CAPITAL INVESTMENT INDIA PRIVATE LIMITED Subsidary of Promoter Any other transaction NA 0 Approved 0 177113000 209657000 Loan 0.0001 2035
2 SEPC LIMITED SEPC DRS ITPL JV Joint Operations Any other transaction Progressive cost 2605000 Approved 2605000 0 0
3 SEPC LIMITED SEPC DRS ITPL JV Joint Operations Any other transaction Progressive Billing 2605000 Approved 2605000 0 0
4 SEPC LIMITED Shriram EPC Eurotech Environmental Pvt Ltd - JV Joint Operations Any other transaction Reversal of Progressive cost -14347000 Approved -14347000 0 0
5 SEPC LIMITED Shriram EPC Eurotech Environmental Pvt Ltd - JV Joint Operations Any other transaction Reversal of Progressive Billing -14347000 Approved -14347000 0 0
Total value of transaction during the reporting period -23484000