SEPC announces a new order win

SEPC’s contract disclosures for the SAIL-ISP Pellet Plant BOP project do not report the specific margin profile of the order, nor do they detail project-specific working capital requirements or bank guarantee commitments ^[4].

Contract Parameters and Baseline Financials

• Order Scope and Value: The Letter of Acceptance from Steel Authority of India Limited (SAIL) – IISCO Steel Plant (ISP), Burnpur, is valued at Rs 854.57 Crores (net of Input Tax Credit) with an execution timeline of 32 months ^[4].
• Company-Wide Margin Context: SEPC reported a consolidated TTM EBITDA margin of 10.3% (and a standalone TTM EBITDA margin of 13.9%) as of Q4 FY26 ^[5].

Disclosure Gaps

• Historical Segment Margins: Segment-specific historical averages for metallurgical or process plant contracts are not separately disclosed in company filings or periodic results.
• Working Capital and Guarantees: Terms regarding upfront working capital deployment, mobilization advances, or bank guarantee facilities for the SAIL-ISP order were not reported in the contract announcement ^[4].

SEPC’s order book segment split between Water/Infrastructure and Process/Metallurgical segments, as well as its client concentration breakdown between PSU and private sector clients, is not publicly disclosed or reported in the available financial filings and KPI data.

While comprehensive financial performance metrics are reported through Q4 FY26—such as consolidated quarterly revenue of Rs 273.83 Crores ^[1], TTM consolidated revenue of Rs 1,054.5 Crores ^[2], and consolidated EBITDA of Rs 25.33 Crores ^[6]—detailed order book composition and project-level client category shifts are not separately disclosed in the current reporting period.