SEPC Gains ₹154 Crore As Madras High Court Lifts Attachment On Receivables

Mumbai: SEPC Limited, an engineering, procurement, and construction (EPC) company, on October 5, 2026, reported that the Madras High Court has lifted an attachment on ₹154 crore of its receivables, following a dispute settlement. The court's common order, dated September 30, 2026, closed all execution proceedings and pending applications against the company and co-parties.

Settlement Details

The parties agreed to a total settlement of ₹149.5 crore. This amount includes a demand draft of ₹147 crore submitted to the court and ₹2.5 crore already held by the court, which will be paid to the award holders.

No Outflow for SEPC

The settlement does not involve any direct monetary outflow for SEPC. The entire settlement amount was paid by another party involved in the proceedings, pursuant to a 2015 indemnity agreement.

Receivables Unlocked and Banking Operations Restored

All interim attachments made under the petitions have been raised, immediately releasing ₹154 crore of receivables. Additionally, all restrictions on the company's banking operations have been completely lifted.

Proceedings Concluded

All listed and un-numbered Execution Petitions, along with all connected pending applications, have been terminated and closed.

Management Commentary

Venkataramani Jaiganesh, Managing Director, SEPC Limited, said the order brings a full and final closure to the long-standing proceedings. He added that the release of receivables and lifted banking restrictions provide greater financial flexibility, allowing the company to focus on project execution and sustainable growth.

Financial Performance

For FY26, SEPC reported a total income of ₹1,085.8 crore, an EBITDA of ₹108.9 crore, and a net profit of ₹53.5 crore. This compares to a total income of ₹646.0 crore in FY25, with net profit more than doubling over the previous year.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.