SEPC receives final acceptance certificate from The Hutti Gold Mines, stock jumps 13%

The company reported that the final acceptance certificate confirms that the installed systems including electrical & mechanical equipment, instruments, D.C. /A.C. drives, and the PLC system were tested with 11 kilovolts (KV) grid power. The testing was also carried out with diesel generator power, and it was found satisfactory. Additionally, the certificate also confirms the end of the one-year warranty period as per the contract.

Earlier this month, the company announced that its wholly-owned subsidiary, Shriram EPC FZE has received a notice to commence work on the construction of a cement project at Tashkent, Republic of Uzbekistan. The company reported that the project was received from JV Ohongorn Sement MS and is worth ₹2,700 crore.

The project entails the construction of a cement manufacturing facility which includes a 3 million tonnes per annum greenfield cement plant at Urgaz Village in Tashkent.

For the quarter ended June 30, 2024, SPEC reported a 63.8% year-on-year (YoY) rise in its net profit to ₹8.07 crore. The company’s consolidated revenue from operations for the quarter climbed 22.71% YoY to ₹175.82 crore.

The operating earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter soared 89.5% YoY to ₹24.20 crore. The company’s earnings per share for the quarter was higher by 50% YoY at ₹0.06.

Shares of the company have risen by nearly 19% since the beginning of the year. The stock has gained over 71% in the past year