RMC Switchgears appoints Verma and Sethi to senior finance roles

RMC Switchgears Limited has designated Mr. Vikash Verma as Deputy CFO and Mr. Ojas Sethi as Head of Finance and Accounts as Senior Management Personnel effective June 5, 2026. The Board of Directors approved the appointments through a resolution passed by circulation based on the recommendation of the Nomination and Remuneration Committee. The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Vikash Verma brings over 22 years of experience to the role. He qualified as a Chartered Accountant in 2005 and was previously associated with South Asia LPG Company Pvt Ltd, a joint venture of Hindustan Petroleum and Total Energies France.

Mr. Ojas Sethi has over 14 years of experience and completed his Chartered Accountancy in 2011. Prior to this appointment, he was associated with Cent Bank Home Finance Ltd.

Key Details of Appointments

The following table outlines the specifics of the new designations:

S. No.	Particulars	Mr. Vikash Verma	Mr. Ojas Sethi
1	Designation	Deputy CFO	Head of Finance and Accounts
2	Effective Date	June 05, 2026	June 05, 2026
3	Experience	Over 22 years	Over 14 years
4	Previous Association	South Asia LPG Company Pvt Ltd	Cent Bank Home Finance Ltd
5	Qualification	Chartered Accountant (2005)	Chartered Accountant (2011)

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.97%	-5.21%	-35.21%	-19.08%	-19.08%	-19.08%

RMC Switchgears Limited reported a 26.40% year-on-year increase in consolidated revenue to ₹401.59 crore for the financial year ended March 31, 2026. The company posted a consolidated net profit of ₹22.45 crore for the year, while the fourth quarter marked a strong turnaround with a net profit of ₹9.30 crore compared to a loss of ₹7.07 crore in the preceding quarter. The audited financial results were approved by the board on May 31, 2026.

Consolidated EBITDA for FY26 stood at ₹47.10 crore, with an EBITDA margin of 11.73%. Revenue growth was driven by continued execution across power infrastructure and EPC businesses, alongside sustained demand in core segments. Mr. Ashok Kumar Agarwal, Managing Director, attributed the Q4 recovery to improved project execution, better cost controls and operational efficiencies.

On a standalone basis, net profit for FY26 fell to ₹1,581.71 lakh from ₹3,061.10 lakh in the previous year. Revenue from operations stood at ₹30,346.78 lakh, compared to ₹31,587.89 lakh in FY25. The company noted that the profit for the year was impacted by an expenditure of ₹797.38 lakhs towards research and development activities for a new product, Pulsebox, of which ₹285.12 lakhs was capitalised.

Consolidated Financial Performance (₹ crore)

Particulars	Q4 FY26	Q4 FY25	YoY Change (Q4)	FY26	FY25	YoY Change (FY)
Revenue from Operations	142.94	165.66	-13.7%	401.59	317.73	+26.4%
EBITDA	17.63	16.66	+5.8%	47.10	52.36	-10.0%
Profit After Tax	9.30	9.85	-5.6%	22.45	30.89	-27.3%
EPS (₹)	8.81	9.53	-7.6%	21.18	29.80	-28.9%

Standalone Financial Results (Year Ended March 31, 2026)

Particulars	Year Ended March 31, 2026 (₹ in Lacs)	Year Ended March 31, 2025 (₹ in Lacs)
Revenue from Operations	30,346.78	31,587.89
Total Income	30,510.01	31,755.54
Total Expenses	28,352.75	27,586.68
Profit Before Tax	2,157.26	4,168.86
Net Profit	1,581.71	3,061.10
Basic EPS (₹)	15.01	29.77

The board approved the re-appointment of M/s. DLS and Associates LLP as Internal Auditors and M/s. Deepak Mittal & Associates as Cost Auditors for the financial year 2026-27. The company confirmed it does not fall under the Large Corporate category as per SEBI circulars regarding debt securities. RMC Switchgears remains focused on opportunities arising from power distribution modernisation, transmission infrastructure and renewable energy development.