RMC Switchgears has appointed Tarun Kumar Sharma as Chief Operating Officer (COO) and Senior Management Personnel. The appointment is effective from September 16, 2026.

The Board of Directors approved the move through a resolution passed by circulation on September 16, 2026. This decision followed a recommendation from the Nomination and Remuneration Committee.

Appointment Details

Mr. Sharma will serve as the COO for Smart Solutions at the company's headquarters in Jaipur. He holds a Master of Business Administration degree.

His professional background includes a five-year association with VHEL Limited. Mr. Sharma brings over 34 years of experience to his new role at RMC Switchgears.

Regulatory Disclosure

The company made this announcement pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was filed with both the Bombay Stock Exchange and the National Stock Exchange of India Limited.

RMC Switchgears reported a sharp contraction in top-line growth for the first quarter of FY27, with consolidated revenue from operations falling 55.95% year-on-year to ₹37.24 crore. Despite the significant drop in sales volume, the company’s profitability metrics improved substantially. Consolidated EBITDA margins expanded by over 1,000 basis points to 20.81%, while net profit margins rose to 5.59%.

The decline in revenue was driven by a shift in project execution cycles. Several large contracts remained in survey, design, and mobilisation phases during the quarter, delaying billing until commissioning. Consequently, the contribution from the Solar EPC segment, which accounted for roughly half of the previous year's topline, decreased significantly. This change in business mix, rather than an operational efficiency gain, was the primary driver behind the margin expansion.

Financial Performance

Consolidated gross profit stood at ₹16.71 crore, down slightly from ₹18.16 crore in the same period last year. However, gross margins surged to 44.87% from 21.49%. EBITDA declined modestly to ₹7.75 crore from ₹8.88 crore, while profit after tax (PAT) fell 48.97% to ₹2.08 crore. Earnings per share were reported at ₹1.97.

Order Book Expansion

While current-quarter revenues were subdued, order traction strengthened post-quarter. Between July and August 2026, the company secured awards aggregating approximately ₹369.63 crore. Notable wins included ₹333.80 crore from Paschim Gujarat Vij Company Limited for underground cable network conversions. The confirmed unexecuted order book now stands at about ₹1,188 crore, up from above ₹800 crore at the end of FY26.

What the Numbers Show

The divergence between revenue decline and margin expansion highlights the structural shift in RMC Switchgears' business mix. With Solar EPC contributing far less this quarter compared to the prior year, the blended margin profile improved sharply. This suggests that the remaining revenue streams, likely from electrical products and EPC services, carry higher inherent margins than the solar execution vertical. The company explicitly noted that this is not evidence of a permanent step-up in operational profitability but rather a reflection of current project phasing and mix.

Balance Sheet Signals

The balance sheet reflects increased leverage to support growth initiatives. The debt-to-equity ratio rose to 0.79 in FY26 from 0.53 in FY25. Short-term borrowings nearly doubled to ₹89.38 crore from ₹40.37 crore. Meanwhile, working capital management showed improvement, with net working capital days reducing to 63 days in FY26 from 91 days in FY25. Inventory days also declined to 23 days, indicating efficient stock management despite the revenue slowdown.