RMC Switchgears Ltd Share Price – BSE

Capital Goods - Electrical Equipment, Small Cap

RMC Switchgears has received a work order of Rs. 5.42 crore from Suncity Urja for construction of various transmission elements (220 & 132 KV associated lines at 220 KV GSS Sheo (Dist. Barmer) including survey, supply of all equipment's/materials, erection (including civil works), testing and commissioning.

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The project entails the construction of 220 KV and 132 KV associated transmission lines at the 220 KV GSS Sheo, located in Barmer, Rajasthan. The scope of work includes conducting surveys, supplying all necessary equipment and materials, performing erection (including civil works), and carrying out testing and commissioning of the transmission elements.

The total value of the order is Rs 5,42,13,600, with a scheduled completion date of 22 July 2025.

RMC Switchgears is primarily engaged in the business of switchgear engineering and ECI contracts for the power distribution/transmission sector.

On a full-year basis, the company's consolidated net profit jumped 26.8% to Rs 14.89 crore in FY24 as against Rs 11.74 crore posted in FY23. Revenue from operations surged 37.8% to Rs 172.63 crore in FY24 as compared to Rs 125.27 crore recorded in FY23.

The scrip declined 4.74% to end at Rs 1,061.40 on Monday, 23 December 2024.

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RMC Switchgears has received a Letter of Acceptance (LOA) from a reputed system integrator for the supply, installation, and commissioning of 5,000 solar pumps in Maharashtra. Valued at Rs 90 crore (excluding taxes), the LOA comprises 3HP, 5HP, and 7HP solar pump systems and is slated for completion in FY25-26.

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The said LOA comprises 3HP, 5HP, and 7HP solar pump systems and is slated for completion in FY25-26.

RMC’s recent order marks a significant milestone in India's clean energy transition, particularly in Maharashtra's push for 1.5 million solar pumps with an Rs 100 billion allocation to boost the agricultural sector. With over 100,000 solar pumps already installed, the state’s program shows tremendous growth potential.

RMC’s involvement positions the company to provide sustainable irrigation solutions for farmers and contribute to India's renewable energy goals. This project aligns with RMC's strategy to expand its solar EPC and IPP portfolio, strengthening its role in India’s renewable energy sector.

The announcement follows RMC’s recent decision to establish a state-of-the-art solar module manufacturing plant in Jaipur, Rajasthan, with an investment of Rs 100 crore. This backward integration strategy is aimed at reducing reliance on external suppliers and supporting the growing demand for solar modules in large-scale projects such as this solar pump initiative.

Ankit Agrawal, CEO and Whole-Time Director, RMC Switchgears, said: “This LOA is a significant milestone for RMC’s solar-based EPC business, showcasing our capabilities in delivering real-world solar solutions and aligning with Maharashtra’s clean energy ambitions.

It reinforces the strategic rationale behind our investment in solar module manufacturing, enabling us to efficiently execute projects and contribute to the nation’s renewable energy objectives. As we continue to expand our portfolio, this project represents another step forward in achieving our ‘Vision-2030’ goals.”

RMC Switchgears is primarily engaged in the business of switchgear engineering and ECI contracts for the power distribution/transmission sector.

On a full-year basis, the company's consolidated net profit jumped 26.8% to Rs 14.89 crore in FY24 as against Rs 11.74 crore posted in FY23. Revenue from operations surged 37.8% to Rs 172.63 crore in FY24 as compared to Rs 125.27 crore recorded in FY23.

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