SEPC Limited (NSE: SEPC | BSE: 532945) has received a Letter of Intent from Telecommunications Consultants India Limited for the execution of a Smart Prepaid Metering project in Punjab’s Central Zone under the Revamped Distribution Sector Scheme (RDSS). The project has an overall value of ₹313.96 crore.
The assignment will be undertaken on a Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis through a consortium with Adya Smart Metering Private Limited. The scope includes end-to-end responsibility for designing, supplying, installing, integrating, commissioning, and operating advanced metering infrastructure for Punjab State Power Corporation Limited, in line with scheme requirements and tender specifications.
Project payments will be structured on a back-to-back basis and linked to defined monthly, quarterly, and annual milestones following the Go-Live phase. The long-term operations and maintenance component provides sustained engagement over the project lifecycle, enhancing revenue predictability.
The award strengthens SEPC’s position in the power distribution and smart metering space and adds to its growing portfolio of annuity-based projects. SEPC Limited, formerly known as Shriram EPC Limited, is an established EPC player delivering turnkey solutions across water and wastewater, roads, industrial infrastructure, and mining. The company undertakes end-to-end project execution, including design, procurement, construction, and commissioning, and serves a broad base of central and state government clients across India.
In the first half of FY26, SEPC reported consolidated total income of ₹455 crore, EBITDA of ₹54 crore, and net profit of ₹24.85 crore, reflecting steady operational performance. Notably, the net profit achieved in H1 FY26 has already exceeded the company’s full-year net profit for FY25. For the full year FY25, SEPC recorded revenue of ₹597.65 crore, EBITDA of ₹98.94 crore, and net profit of ₹24.84 crore. Achieving approximately 76 percent of FY25 revenue within the first six months of FY26 highlights accelerating business momentum and positions the company for stronger full-year results.
