SEPC shares surge 17% following Final Acceptance Certificate for Rs 232 crore contract

SEPC specialises in executing EPC contracts and offers integrated solutions across design, engineering, procurement, construction, and project management services in the water, process, metallurgy, and infrastructure sectors.

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Shares of SEPC surged by over 17 percent to reach an intraday high of Rs 25.3 per share on August 23 after the company said in a filing that it received the Final Acceptance Certificate from The Hutti Gold Mines Ltd (HGML) for a contract valued at Rs 232 crore.

At 12.40 PM, SEPC shares traded 17 percent higher at Rs 25.2. On a year-to-date basis, the stock has gained 23 percent, outperforming the Nifty 50 which gained 14 percent during the same period.

The contract, which dates back to 2013, was for the "Construction of New Circular Shaft with Complete Winding Installations" on a turnkey basis at the Hutti Gold Mines in Raichur District, Karnataka. The Final Acceptance Certificate confirmed the testing of all systems installed under the contract, including electrical, mechanical equipment, instruments, D.C./A.C. drives, and the PLC system. Both the 11 KV grid power and Diesel Generator power systems were found satisfactory.

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The certificate also verified the completion of the one-year warranty period stipulated in the contract terms. "The Certificate also confirms that as per the terms of the Contract one - year warrantee period was also completed," the company said in the filing.

SEPC, formerly Shriram EPC Ltd until February 2021, was incorporated in June 2000. The company specialises in executing EPC contracts and offers integrated solutions across design, engineering, procurement, construction, and project management services in the water, process, metallurgy, and infrastructure sectors.

The company posted its June quarter earnings on August 14 which showed that its standalone net profit for the Q1 FY25 rose to Rs 12.7 crore from Rs 5.2 crore in the year-ago period and revenue from operations rose to Rs 175.8 crore from Rs 143.3 crore in the year-ago period.

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