RMC Switchgears Limited has submitted its annual disclosure regarding the encumbrance of shares by its promoters and promoter group for the financial year ended March 31, 2026. The filing confirms that no shares were encumbered directly or indirectly during FY26. This disclosure was made in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011.

The company's promoters and promoter group entities reported their respective shareholdings, totaling 65,65,655 shares. The disclosures were submitted individually by Ashok Kumar Agarwal, Ankit Agrawal, Neha Agarwal, and their respective Hindu Undivided Families (HUFs), along with Atika Agarwal. Each entity confirmed that they had not created any encumbrance on their holdings during the specified period.

Shareholding Details

The following table outlines the shareholding details of the promoters and promoter group as of March 31, 2026:

Regulatory Compliance

The disclosures were addressed to the Department of Corporate Relationship at BSE Limited and the Corporate Relationship Department at National Stock Exchange of India Limited. The letters were signed by the respective shareholders and submitted on April 06, 2026. Shivani Bairathi, Compliance Officer & Company Secretary of RMC Switchgears Limited, submitted the consolidated disclosure to the exchanges on behalf of the company.

RMC Switchgears Limited reported a 26.39% year-on-year increase in consolidated revenue from operations to ₹401.59 crore for the financial year ended March 31, 2026. Profit After Tax for the year declined by 27.32% to ₹22.45 crore, impacted by elevated input costs and currency depreciation. The company outlined its strategic growth roadmap for FY27 to FY29, focusing on EPC expansion, Electrical Products scaling, and the commercialisation of its indigenous PulseBox technology.

Financial Performance

For the full year FY26, the company achieved a consolidated EBITDA of ₹47.10 crore, a decrease of 10.06% compared to the previous year. The EBITDA margin stood at 11.73%. In Q4 FY26, revenue from operations was ₹142.94 crore, a decrease of 13.72% year-on-year, while Profit After Tax for the quarter was ₹9.30 crore. The following table summarises the key financial metrics for FY26 versus FY25:

Segment Performance

The Solar EPC segment emerged as the primary revenue driver, contributing ₹208.99 crore, which accounts for approximately 52% of the total topline. Electrical EPC contributed ₹96.13 crore (26%), and Electrical Products contributed ₹96.48 crore (22%). The company reported a total confirmed order book exceeding ₹800 crore, with active tenders surpassing ₹1,500 crore, providing a strong pipeline for its FY27–FY29 growth ambitions.

Strategic Growth Plans: FY27 to FY29

RMC Switchgears outlined its medium-term growth strategy centred on three pillars: scaling its EPC business, expanding the Electrical Products vertical, and accelerating the commercialisation of its PulseBox platform. The company highlighted the progress of its indigenous IoT technology, PulseBox, which is India's first IS 14772-certified Smart LT Distribution Box. Proof-of-concept deployments have been completed across three states, with active discussions underway with five utilities. The product aims to address the gap in monitoring LT distribution nodes, providing real-time alerts for overload and theft detection.

Margin Pressures and Mitigation Measures

Management attributed margin compression in FY26 to external factors such as elevated costs for copper, aluminium, and solar components, a ~9% depreciation of the Rupee against the USD, and emergency procurement premiums due to the Red Sea crisis. To mitigate future risks, the company stated that significant EPC bids from Q3 FY26 include explicit price-escalation provisions, positioning the business to better absorb input cost volatility in the years ahead.