The shares of a Micro-Cap company, specializing in designing, manufacturing, and supplying electrical infrastructure solutions, have rallied upto 12 percent in the Intraday trade. Let’s explore the reason for the rise in this article.
With a market capitalization of Rs. 805.30 crores on Tuesday, the shares of RMC Switchgears Ltd rose by upto 11.7 percent, making a high of Rs. 828.00 per share compared to its previous closing price of Rs. 741.00 per share.
What Happened
RMC Switchgears Ltd, engaged in designing, manufacturing, and supplying electrical infrastructure solutions, has rallied upto 12 percent in the intraday trade following the latest update from the company.
In its recent filing today, the company reported over 110 percent year-on-year growth in sales for H1 FY2025–26, with unaudited revenue reaching Rs. 221 crore, up from Rs. 105 crore in the same period last year.
This growth was primarily driven by its Solar EPC segment, contributing Rs. 114 crore, followed by Electrical EPC (Rs. 57 crore) and Electrical Products (Rs. 50 crore). The strong performance supports the company’s strategy to establish a Solar Module Manufacturing Plant, aimed at improving execution efficiency and margins.
As of September 30, 2025, RMC holds a robust Rs. 825 crore project pipeline for execution over the next 12 months. Additionally, RMC completed a Proof of Concept (POC) for its smart distribution product, the Pulse Box, which aims to enhance grid safety, prevent electricity theft, and reduce losses. Its further rollout will depend on utility approvals and market response.
Commenting on the development, Mr. Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears Limited, said: “RMC’s first-half performance reflects disciplined execution across our core segments and improved traction from the Solar EPC Segment. We have deepened our engineering capabilities, strengthened project planning, and optimized project turnaround times, which together are enhancing delivery reliability for our customers. As these operational improvements compound, we are building stronger references and a more defensible market position. This will support quality order inflow and sustained growth while we remain focused on prudent capital allocation and governance.”
Financial & Others
The company’s revenue rose by 144 percent half-yearly from Rs. 85 crore in March 2024 to Rs. 212 crore in March 2025. Meanwhile, Net profit rose from Rs. 7 crores to Rs. 21 crores during the same period.
The company shows strong financial metrics with a high ROCE of 37.2% and ROE of 37.5%, indicating efficient use of capital. It maintains a healthy debt-to-equity ratio of 0.55. With a low PEG ratio of 0.09 and a stock P/E of 26.1 compared to the industry P/E of 40.2, the stock appears undervalued relative to its growth potential.
The company has delivered strong financial performance with a 149% CAGR profit growth over the last 5 years, a solid 3-year average ROE of 34.2%, and a 10-year median sales growth of 22.4%.
RMC Switchgears Ltd is an Indian company headquartered in Jaipur, Rajasthan, and was incorporated in 1994. It specializes in designing, manufacturing, and selling energy meter enclosures, LT/HT distribution boxes and panels, junction boxes, feeder pillars, and other circuit protection switchgears.
It also undertakes EPC (Engineering, Procurement, and Construction) contracts for laying energy transmission lines, establishing electric substations, and shifting or installing energy meters.
The company has a set of Maquee clients as follows: state power distribution companies such as Punjab State Power Corp Ltd, J&K Power Distribution Co. Ltd, HP State Power Corporation, Ajmer Vidyut Vitaran Nigam, and more
The company also operates in the EPC and smart metering space alongside major players like L&T, NCC, Bajaj Electricals, Ashoka Buildcon, Tata Projects, Voltas Electrical, Sterling Wilson, Adani Energy Solutions, and more.
It sources meters from leading manufacturers such as Genus Power, HPL Electric, Secure Meters, and L&T meters. Its customer base includes reputed PSUs and corporates like NTPC, GAIL, and REIL.
Written by Sridhar J
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