SEPC Limited wins Rs 673 crore order from SAIL for IISCO steel expansion

What SEPC announced

SEPC Limited (NSE: SEPC, BSE: 532945) disclosed on 15 June 2026 that it has been awarded a major order worth Rs 673.32 crore from Steel Authority of India Limited (SAIL) for the IISCO Steel Plant (ISP) at Burnpur. The contract is for the 4.08 MTPA crude‑steel expansion project and is split into two balance‑of‑plant (BOP) packages.

The company filed the press release under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) and will also publish the announcement on its corporate website.

Order specifics and execution timeline

The SAIL order is divided into two distinct packages:

• Coke Oven BOP (COB‑3) – excluding civil & structural works valued at Rs 296.77 crore.
• Sinter Plant BOP (SP‑2) – including civil & structural works valued at Rs 376.56 crore.

Together, the packages total Rs 673.32 crore (net of taxes). SEPC expects to complete the work over a 30‑ to 33‑month period, providing a clear revenue stream for the next three fiscal years.

"This order from SAIL’s IISCO Steel Plant represents a significant milestone for SEPC and highlights the confidence that leading public‑sector enterprises place in our engineering expertise," said Mr. Venkataramani Jaiganesh, Managing Director of SEPC.

Financial backdrop and revenue visibility

SEPC reported robust financial performance for FY26, posting:

• Total income: Rs 1,085.8 crore (up from Rs 646.0 crore in FY25)
• EBITDA: Rs 108.9 crore
• Net profit: Rs 53.5 crore, more than double the FY25 figure

The new SAIL contract adds to this momentum, extending the company’s order book and offering long‑term visibility in the industrial EPC segment. The order is purely a service contract; no equity issuance or debt financing is required, meaning there is no immediate dilution for existing shareholders.

Key facts at a glance

Why this matters for investors

• Order‑book strength: The contract adds a high‑value, multi‑year project to SEPC’s pipeline, reinforcing its position in the large‑scale steel and heavy‑industrial EPC market.
• Revenue visibility: With a 30‑33‑month execution horizon, the order translates into predictable revenue streams that will be reflected in the company’s quarterly results.
• Sector exposure: SAIL’s expansion is part of a broader capacity‑building phase in India’s steel industry, positioning SEPC to benefit from continued sectoral investment.
• No dilution or debt impact: The deal is a service contract; SEPC does not need to raise capital, preserving existing shareholders’ equity.
• Financial momentum: FY26 earnings already show a substantial rise in income and profit, suggesting the company is well‑placed to absorb and execute the new order efficiently.

Conclusion

SEPC Limited’s Rs 673 crore order from SAIL’s IISCO Steel Plant marks a significant addition to its industrial EPC portfolio and extends its revenue visibility for the next three years. The contract, filed under Regulation 30 on 15 June 2026, does not involve any share issuance, thereby avoiding dilution. While the order strengthens SEPC’s order book, execution will be monitored over the 30‑33‑month timeline, and subsequent financial disclosures will reveal its impact on the company’s performance.