RMC Switchgears Ltd

Net sales during the period under review rose by 150.4% YoY to Rs 213.38 crore. The company sales in the same period last year were Rs 85.21 crore. Total operating expenditure for H2 FY25 was Rs 179.99 crore as against Rs 71.45 crore in H1 FY24. Profit before tax for the second half of FY 2024-25 was Rs 27.71 crore as compared with the pre-tax profit of Rs 8.95 crore reported in the corresponding period of FY2023-24. For FY25, RMC Switchgears has registered a consolidated net profit of Rs 31.45 crore (up 111.2% YoY) and net sales of Rs 318.16 crore (up 84.3% YoY). RMC Switchgears is primarily engaged in the business of switchgear engineering and ECI contracts for the power distribution/transmission sector. Powered by Capital Market - Live

RMC Switchgears will hold a meeting of the Board of Directors of the Company on 20 May 2025.Powered by Capital Market - Live

The key equity indices traded with significant gains in early afternoon trade, as investors awaited the Q4 results of ICICI Bank and HDFC Bank, which are scheduled to be announced later this week. The Nifty traded near the 23,650 mark. Private bank shares surged for the fourth consecutive trading session. At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 767.50 points or 1% to 77,824.58. The Nifty 50 index added 208.75 points or 0.89% to 23,645.95. In the broader market, the S&P BSE Mid-Cap index advanced 0.30% and the S&P BSE Small-Cap index rose 0.61%. The market breadth was strong. On the BSE, 2,447 shares rose and 1,304 shares fell. A total of 193 shares were unchanged. Derivatives : The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.23% to 16.22. The Nifty 24 April 2025 futures were trading at 23,663.70, at a permium of 17.75 points as compared with the spot at 23,645.95. The Nifty option chain for the 30 April 2025 expiry showed a maximum call OI of 8.2 lakh contracts at the 23,500 strike price. A maximum put OI of 7.8 lakh contracts was seen at a 23,000 strike price. Buzzing Index: The Nifty Private Bank index rose 1.12% to 26,852.75. The index jumped 7.4% in the four trading sessions. ICICI Bank (up 2.43%), HDFC Bank (up 1.06%), Axis Bank (up 1.04%), IndusInd Bank (up 0.9%), Yes Bank (up 0.9%), Kotak Mahindra Bank (up 0.47%), Bandhan Bank (up 0.15%) and IDFC First Bank (up 0.11%) surged. Stocks in Spotlight: RMC Switchgears hit a lower circuit of 2% after the company informed that Anand Chaturvedi has tendered his resignation from the post of chief financial officer (CFO), effective from 16 April 2025. Reliance Industrial Infrastructure rose 0.96%. The company's consolidated net profit gained 16.78% to Rs 32 crore in Q4 FY25 as against Rs 27.40 crore in Q3 FY25. Total income rose 1.82% to Rs 189.40 crore in Q4 FY25 over Q3 FY25. PBT rose 0.93% to Rs 32.50 crore in Q4 FY25 over Q3 FY25. Waaree Renewable Technologies soared 9.43% after the company's consolidated net profit surged 82.72% to Rs 93.81 crore in Q4 FY25 as against Rs 51.34 crore posted in Q4 FY24. Revenue from operations jumped 74.37% year-on-year (YoY) to Rs 476.58 crore in the quarter ended 31 March 2025.Powered by Capital Market - Live

According to an exchange filing, Anand Chaturvedi submitted his resignation letter dated 12 April 2025, citing personal reasons. The management has accepted his resignation, and he has been relieved of his responsibilities with effect from the close of business hours on 16 April 2025. RMC Switchgears is primarily engaged in the business of switchgear engineering and ECI contracts for the power distribution/transmission sector. On a half-year basis, the company's consolidated net profit jumped 25.7% to Rs 10.13 crore in H1 FY25 as compared to Rs 8.06 crore recorded in H1 FY24. Revenue from operations grew 19.9% YoY to Rs 104.78 crore in H1 FY25. Powered by Capital Market - Live

Under this contract, RMC will handle the design, supply, erection, and commissioning of rooftop solar projects on state government and government undertaking buildings in Jaipur and Dausa. The project will be executed under the hybrid annuity mode (HAM), ensuring long-term financial stability. Additionally, RMC will manage the operation and maintenance (O&M) of the solar installations for the next 25 years from the date of commissioning. This order represents a one-time revenue opportunity of Rs 229 crore, with recurring revenue of Rs 91 crore over the next 25 years from O&M services, establishing a steady long-term income stream for RMC throughout the project's lifecycle. Ankit Agrawal, CEO and whole-time director of RMC Switchgears, said, 'This LOA marks a significant step in RMC''s journey towards expanding its Solar EPC footprint and supporting Rajasthan's ambitious clean energy transition. With the state committed to powering all government and public sector buildings with solar energy, this project underscores our ability to deliver large-scale, sustainable solutions. It also reinforces the strategic rationale behind our investment in solar module manufacturing, ensuring better execution efficiency and long-term value creation. As we continue to scale our renewable energy portfolio, this project brings us closer to realizing our 'Vision 2030 goals while contributing meaningfully to India's renewable energy objectives.' 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. Powered by Capital Market - Live

RMC Switchgears has received a work order of Rs. 108.05 crore from the private contractor for development of distribution infrastructure work for 11 KV UG Cable, & RMU System in some Districts of Gujarat State. Powered by Capital Market - Live

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. Powered by Capital Market - Live

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.Powered by Capital Market - Live

RMC Switchgears announced its plans to exploit its manufacturing strengths to establish a state of the art Solar module manufacturing plant with an Annual Production Capacity of 1 GWp and manufacture the Solar Module Mounting structure with the same capacity at Badodiya Village, Chaksu Tehsil, Jaipur, Rajasthan. This ambitious project, with an estimated capital expenditure of Rs 100 crore, reflects RMC's commitment to strengthening its renewable energy capabilities and driving sustainable growth. The new facility will be located on land adjoining the company's current operational plant, ensuring seamless integration and operational e'iciency. The project's CAPEX will be financed through a prudent mix of internal accruals, equity, and debt, underscoring RMC's disciplined financial strategy. Both Plants are expected to be operational by July 2025, and commercial revenues are expected from August 2025. Powered by Capital Market - Live

According to the exchange filing, the company revealed that it intends to leverage its manufacturing strengths to establish a state-of-the-art solar module manufacturing plant with an annual production capacity of 1 GWp. Additionally, it will produce solar module mounting structures with the same capacity at a new site in Badodiya Village, Chaksu Tehsil, Jaipur, Rajasthan. The project, estimated to cost Rs 100 crore, will be executed through RMC Green Energy, a subsidiary of the company. As part of the plan, RMC will increase its ownership in RMC Green Energy from 51% to nearly 100%, making it a wholly owned subsidiary through equity infusion and the purchase of shares in a fresh issue. This strategic move aims to enhance RMC's operational control and strengthen its renewable energy capabilities. The new facility will be located adjacent to RMC's current operational plant, ensuring seamless integration. The capital expenditure for the project will be funded through a mix of internal accruals, equity, and debt. The company expects both plants to be operational by July 2025, with commercial revenues anticipated from August 2025. As RMC actively explores new opportunities in solar engineering, procurement, and construction (EPC) and Independent Power Producer (IPP) projects, this expansion marks a crucial step toward backward integration. The Solar Module Manufacturing Plant will reduce RMC's dependency on external suppliers by catering to the internal requirements of ongoing and future projects. This integration will enhance cost efficiency, ensure timely execution, and improve supply chain reliability. Apart from the captive consumption of these products, strong market demand will ensure a robust top line and bottom line for the company in FY 26. This initiative aligns with RMC's Vision 2030 of becoming a Rs 5,000-crore enterprise while supporting India's ambitious renewable energy targets. The plant will contribute to RMC's ability to execute large-scale Solar EPC projects efficiently and solidify its presence in the renewable energy ecosystem. Ankit Agrawal, CEO and whole-time director of RMC Switchgears, said, 'This solar module & module mounting structure manufacturing plants is a strategic backward integration for RMC, enabling us to reduce external dependencies and strengthen our ability to deliver Solar EPC and IPP projects seamlessly. By leveraging RMC Green Energy, we are not only supporting our current pipeline but also creating opportunities for commercial sales, positioning RMC as a significant player in the solar module market. This investment reinforces our commitment to innovation, sustainability, and delivering long-term value for our stakeholders. The addition to these lines will add the maximum products in our range such as EPC'both solar and transmission, modules, structures, solar electrical panels and solar distribution boxes, etc.' 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. Powered by Capital Market - Live