SEPC wins ₹673 crore SAIL order for IISCO expansion

SEPC Limited (earlier known as Shriram EPC) has secured a domestic engineering, procurement and construction (EPC) order worth ₹673.32 crore from Steel Authority of India Ltd (SAIL) for the IISCO Steel Plant (ISP) at Burnpur. The work is linked to SAIL-ISP’s 4.08 MTPA crude steel expansion project, where SEPC will execute two Balance of Plant (BOP) packages covering key systems around coke oven and sinter plant operations.

The company said the contracts strengthen its position in industrial EPC and improve long-term revenue visibility due to the multi-year execution period. The packages have separate scopes and timelines, and the aggregate contract value is stated as net of taxes.

What SEPC has won from SAIL-ISP

SEPC’s disclosure centres on two packages awarded under the expansion programme at Burnpur. One package relates to coke oven BOP works, and the other covers sinter plant BOP works. Together, the two packages add up to ₹673.32 crore.

SAIL, a public sector steel producer, is the client through its IISCO Steel Plant. The work is positioned as part of a larger capacity expansion initiative, with SEPC handling defined BOP scopes rather than the entire project.

Two packages, two scopes

The order is split into a Coke Oven BOP (Balance of Plant) package and a Sinter Plant BOP package. In the material provided, the civil and structural components differ by package, which affects execution complexity and timelines.

SEPC indicated that one package excludes civil and structural works while the other includes them. The scope split also aligns with different execution durations of 30 months and 33 months from the effective date.

Package details and contract value break-up

The following table summarises the package-level details disclosed across the updates.

Letters of Acceptance and how the timeline is defined

SEPC said it received Letters of Acceptance (LoA) on June 11, 2026, for the two packages. The execution periods are counted from the “effective date” of the contract.

The effective date is defined as the date of signing the contract or 30 days from the LoA date, whichever is earlier. Based on the disclosure, the coke oven BOP package carries a 30-month schedule, while the sinter plant BOP package is scheduled over 33 months.

Why this order matters for SEPC’s order book

The contract adds ₹673.32 crore of industrial EPC work, directly tied to a large steel capacity expansion project. For SEPC, which positions itself as an industrial infrastructure EPC player with experience in process plants and related infrastructure, such packages typically provide multi-quarter execution visibility.

The company also highlighted that the order improves long-term revenue outlook and strengthens project execution capacity, largely because the work runs for 30 to 33 months rather than being a short-duration contract.

Market reaction: SEPC stock in focus

The news flow around the order coincided with a sharp move in SEPC shares during Monday’s session (June 15). Reports in the provided text say the stock surged nearly 13% intraday and touched ₹7.82.

One update added that after some profit booking, the stock was trading around ₹7.50 at about 10:40 am, up roughly 8.50%. Separately, another data point in the provided material notes that as of June 12, 2026, the share price closed at ₹6.94 per share, up 12.30% from the previous close.

Project context: SAIL-ISP’s 4.08 MTPA crude steel expansion

The order is linked to SAIL-ISP’s 4.08 MTPA crude steel expansion project at Burnpur. While the disclosure does not detail overall capex size or commissioning milestones, it clearly identifies the specific areas where SEPC will contribute: BOP works related to coke oven and sinter plant packages.

In integrated steel operations, coke ovens and sinter plants are key upstream facilities supporting blast furnace and steelmaking processes. BOP packages typically cover supporting systems and auxiliaries required for operation, and can include significant mechanical, electrical, instrumentation and associated works depending on scope.

What to watch next

The immediate next steps are tied to contract signing, effective date commencement, and execution progress across the 30-month and 33-month schedules. Since the contract structure is package-based, investors tracking SEPC may look for periodic updates on milestones, billing cadence and any revisions to timelines.

For SAIL-ISP, the awarding of these packages is one of the steps in progressing the 4.08 MTPA expansion plan at Burnpur, with execution now moving into the delivery phase for the awarded scopes.

Key facts at a glance