Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

SEPC Wins Rs313.96 Crore Smart Metering Contract in Punjab’s Central Zone Under RDSS

SEPC has been awarded a Letter of Intent (LOI) by Telecommunications Consultants India (TCIL), a Government of India enterprise, for the rollout of a smart prepaid metering project in Punjab’s Central Zone. The contract, valued at Rs313.96 crore, will be executed under the Revamped Distribution Sector Scheme (RDSS).

The company will implement the project in partnership with Adya Smart Metering on a Design, Build, Finance, Own, Operate and Transfer (DBFOOT) model. The scope includes end-to-end delivery of advanced metering infrastructure for Punjab State Power Corporation (PSPCL), covering design, installation, system integration, commissioning, and long-term operations and maintenance, in line with tender conditions and RDSS guidelines.

Payments for the project will follow a back-to-back structure, tied to predefined monthly, quarterly, and annual milestones after the system goes live, ensuring structured cash flow during the operational phase.

Venkataramani Jaiganesh, Managing Director of SEPC, noted that the order reinforces client confidence in the company’s ability to manage complex infrastructure assignments. He highlighted that smart metering forms a critical component of India’s power distribution reforms and added that the DBFOOT framework aligns with SEPC’s strategy of building stable, annuity-based revenue streams while maintaining disciplined capital management and risk control.

The new order further strengthens SEPC’s footprint in the power distribution and metering segment, enhancing long-term revenue visibility through its BOOT-style structure. Continued government investment in digital infrastructure and power sector reforms is expected to provide sustained growth opportunities for the company.

SEPC’s recent financial performance reflects strong operational traction. For the nine months ended December 2025 (Q3 FY26), the company reported consolidated revenue of Rs796.89 crore, EBITDA of Rs83.60 crore, and net profit of Rs39.81 crore. These figures have already exceeded its full-year FY25 performance, when it recorded revenue of Rs597.7 crore, EBITDA of Rs98.9 crore, and net profit of Rs24.8 crore.