SYNOPSIS: RMC Switchgears received a Rs. 42.23-crore LOI from Rajasthan Rajya Vidyut Prasaran Nigam for constructing a 132 kV substation and associated lines, with full supply, erection, testing, and commissioning over 18 months.
During Monday’s trading session, shares of a prominent player in the electrical infrastructure solutions sector with a strong reputation in the smart meter enclosure market are in focus on BSE, after securing an order worth around Rs. 42 crores from Rajasthan Rajya Vidyut Prasaran Nigam Limited.
At 11:00 a.m., shares of RMC Switchgears Limited were trading at Rs. 538.05 on BSE, compared to its previous closing price of Rs. 556.1, with a market cap of Rs. 566 crores. The stock has delivered negative returns of around 30 percent in one year, and has fallen by over 23 percent in the last one month.
What’s the News:
As per the latest regulatory filings with the BSE, RMC Switchgears Limited has received a Letter of Intent (LOI) amounting to nearly Rs. 42.23 crores from Rajasthan Rajya Vidyut Prasaran Nigam Limited. The project is scheduled to be completed within 18 months.
The contract encompasses the construction of a new 132 kV Grid Substation (GSS) at Kalyanpur (Pachpadra), District Balotra, along with all associated transmission lines and bays. The scope of work includes the supply of equipment/materials, erection and civil works, as well as testing and commissioning, on a Supply & ETC (Erection, Testing & Commissioning) basis.
Financial Highlights & more:
For H1 FY26, the company reported a consolidated revenue from operations of Rs. 241 crores, reflecting a year-on-year increase of nearly 130 percent from Rs. 104.8 crores recorded in H1 FY25.
This robust performance during the quarter was primarily driven by strong traction in the Solar EPC segment, which contributed around Rs. 114 crores to the total revenue. This was followed by Electrical EPC and Electrical Products, contributing Rs. 57 crores and Rs. 50 crores, respectively.
During the same quarter, the net profit of RMC Switchgears nearly doubled to Rs. 20 crores, representing a significant growth of around 96 percent YoY from Rs. 10.2 crores.
With more than Rs. 1,500 crore worth of tenders already participated in and several currently under evaluation, the company expects its order pipeline to strengthen further in the coming quarters.
RMC Switchgears Limited is a prominent player in the electrical infrastructure solutions sector, specialising in the manufacture of electrical enclosures designed to prevent electrical theft and enhance safety by reducing the risk of electrocution.
The company operates a diversified business model built around four complementary verticals – Electrical Products, Electrical EPC, Solar EPC, and Solar Products.
It manufactures and supplies smart meter enclosures, distribution boxes, and feeder pillars, along with urban underground cabling and RMU systems under its electrical portfolio. In the renewable space, RMC undertakes rooftop and ground-mounted solar EPC projects, including agricultural feeder solarisation initiatives under government programs such as KUSUM, while its solar products division focuses on solar modules, mounting structures, and balance-of-system components.
Written by Shivani Singh
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