SEPC receivables worth ₹154 crore have been released from attachment following a Madras High Court order, the company said in a BSE filing on October 5, 2026. The court's common order dated September 30, 2026, closed execution proceedings against SEPC and other co-parties following a settlement between the parties.

According to the filing, the attachment has been removed with immediate effect and all restrictions on SEPC's banking operations have been lifted. The company said the settlement involved no direct monetary outflow for SEPC because another party to the proceedings paid the entire amount under a 2015 indemnity agreement.

The court acted following a Joint Memo of Compromise executed between the parties. It terminated the related execution petitions and closed all connected pending applications, concluding the disputes and execution liabilities covered by those petitions.

Settlement totals ₹149.5 crore

The parties agreed to a total settlement of ₹149.5 crore for payment to the award holders. The filing set out the following components and outcomes:

  • A demand draft of ₹147 crore was submitted before the court.
  • Another ₹2.5 crore was already lying to the credit of the court.
  • All interim attachments under the petitions were lifted, releasing the ₹154 crore in receivables.
  • All listed and unnumbered execution petitions were terminated, with connected pending applications closed.

The ₹154 crore represents receivables released from attachment, while ₹149.5 crore is the agreed settlement amount paid by the other party. SEPC reported no direct cash outflow towards that settlement.

Managing Director Venkataramani Jaiganesh said the release of receivables and removal of banking restrictions gave SEPC greater financial flexibility with immediate effect. He said the company's focus remained on project execution following closure of the proceedings.

SEPC, formerly Shriram EPC Limited, provides turnkey engineering, procurement and construction solutions across water and wastewater, roads, industrial infrastructure and mining. Its clients include Central and State Government agencies.

The release also reported FY26 total income of ₹1,085.8 crore, EBITDA of ₹108.9 crore and net profit of ₹53.5 crore. Total income stood at ₹646.0 crore in FY25, while FY26 net profit more than doubled over the previous year, according to the company.