SEPC Q4 FY26 income jumps 129%, FY26 profit up 116%

What SEPC announced and why it matters

SEPC Limited (NSE: SEPC | BSE: 532945) announced its unaudited financial results for Q4 FY26 and FY26 on May 26, 2026, highlighting a year of operational progress. The company operates as an Engineering, Procurement, and Construction (EPC) player with work spanning water and wastewater, infrastructure, and industrial segments. It also describes a diversified presence across Water and Municipal Services, Roads, Industrial Infrastructure, and Mining sectors. For investors, the update matters because it provides a consolidated view of growth in total income and profitability, alongside margin movement and earnings per share.

The quarter ended March 31, 2026 showed a sharp rise in total income compared with the same quarter last year. For the full year ended March 31, 2026, the company reported higher total income and more than doubled net profit on a consolidated basis. The release also included standalone figures, which moved differently from consolidated performance.

Consolidated Q4 FY26: income up, margin down

For Q4 FY26, SEPC reported consolidated total income of ₹288.95 crore, up 129.12% year-on-year from ₹126.11 crore. EBITDA for the quarter was ₹25.32 crore, compared with ₹23.60 crore in Q4 FY25, a 7.30% increase. Consolidated net profit rose to ₹13.73 crore from ₹10.02 crore, a year-on-year increase of 37.00%.

Even with higher profit, the reported net profit margin declined. Net profit margin for Q4 FY26 was 4.75% versus 7.95% in Q4 FY25, a decline of 320 basis points. Diluted EPS for the quarter stood at ₹0.07, up from ₹0.06 in the year-ago quarter, reflecting 16.67% growth.

FY26 consolidated: net profit more than doubles

On a consolidated basis for FY26, SEPC reported total income of ₹1,085.84 crore, up 68.08% from ₹646.02 crore in FY25. EBITDA rose to ₹108.92 crore from ₹98.94 crore, marking 10.09% growth. Net profit came in at ₹53.54 crore, up 115.53% from ₹24.84 crore in the previous year.

Profitability improved on a margin basis for the year. Net profit margin for FY26 was 4.93% compared with 3.85% in FY25, an improvement of 109 basis points. Diluted EPS for FY26 was ₹0.30 versus ₹0.16 in FY25, a rise of 87.50%.

Key numbers table: Q4 and FY performance (consolidated)

Standalone FY26: profit lower than FY25

Alongside consolidated results, SEPC also disclosed standalone performance for FY26. On a standalone basis, net profit for FY26 was ₹20.97 crore, compared with ₹25.15 crore in the previous year. Total income from operations on a standalone basis was ₹579.09 crore.

The mix of consolidated and standalone outcomes indicates that group-level performance can diverge from the standalone entity’s results. Investors typically track both, especially where consolidated numbers include subsidiaries or other group entities that may contribute differently across cycles.

Standalone quarterly snapshot: March 2026 vs March 2025

SEPC’s reported standalone quarterly numbers for March 2026 included net sales of ₹153.67 crore, up 30.45% from ₹117.80 crore in March 2025. Quarterly net profit was ₹7.49 crore in March 2026, down 26.31% from ₹10.17 crore in March 2025. EBITDA was ₹19.08 crore for March 2026, down 19.63% from ₹23.74 crore in March 2025.

The same disclosure noted that EPS decreased to ₹0.04 in March 2026 from ₹0.07 in March 2025. These standalone quarterly movements differ from the consolidated Q4 picture, underlining why investors often review segment and entity-level details along with consolidated totals.

Corporate actions and reporting timeline

SEPC stated that the unaudited results for the quarter and twelve months ended March 31, 2026 were announced on May 26, 2026. Separately, the company also disclosed that its Board of Directors approved audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2026, following a board meeting held on May 25, 2026. The disclosure mentioned that the Audit Committee recommended the results and that an audit report was issued by statutory auditors.

Another financial statement detail referenced in the same material was the carrying value of deferred tax assets (DTA), which included ₹281.88 crore (₹28,187.76 lakh) recognised on carried forward business losses.

Business profile: where SEPC operates

SEPC operates in the EPC space and describes capabilities across designing, procurement, construction, and commissioning for large and complex infrastructure projects across India. It serves clients including central and state government agencies. The company’s stated sector footprint includes water and wastewater and broader infrastructure and industrial segments, with references also made to municipal services, roads, industrial infrastructure, and mining.

This profile typically places SEPC’s execution and working capital cycles close to government and infrastructure spending patterns. The FY26 consolidated growth in total income suggests higher activity levels year-on-year, while the Q4 margin movement highlights that profitability can shift even when revenues rise.

Market impact: what the numbers change for investors

The immediate market relevance is concentrated in three data points: the scale of consolidated income growth, the pace of net profit expansion for FY26, and the Q4 margin compression. Consolidated total income of ₹288.95 crore in Q4 FY26 and ₹1,085.84 crore for FY26 provides a clear growth benchmark against Q4 FY25 and FY25. Net profit of ₹53.54 crore for FY26, up from ₹24.84 crore, signals stronger earnings on a full-year basis.

At the same time, the Q4 net profit margin decline to 4.75% from 7.95% indicates that costs, mix, or other quarterly factors reduced profitability relative to revenue. Investors typically track whether such margin changes persist across multiple quarters, but this update provides only the reported period numbers.

Why this update matters in the EPC context

For EPC companies, revenue growth can be driven by ramp-up in execution, while margins can be sensitive to project mix and timing. In SEPC’s case, the consolidated data shows strong year-on-year expansion in total income in Q4 and FY26, and substantial improvement in FY net profit and net profit margin.

The presence of both consolidated and standalone disclosures is also relevant. FY26 standalone net profit of ₹20.97 crore was lower than the prior year’s ₹25.15 crore, even as consolidated FY26 net profit rose sharply, which can shape how investors interpret where the year’s earnings strength is coming from.

Conclusion

SEPC’s Q4 FY26 and FY26 disclosures show a large year-on-year jump in consolidated total income and a more than doubling of FY26 consolidated net profit to ₹53.54 crore. The Q4 margin decline, however, is a key counterpoint to revenue growth for the quarter ended March 31, 2026. The company has communicated both unaudited results dated May 26, 2026 and a board approval of audited results following a May 25, 2026 meeting, giving investors a defined reporting timeline to track future updates.