RMC Switchgears Limited posted a significant rise in profitability for the quarter ended June 30, 2026, with net profit jumping 116.8% year-on-year to ₹918.5 crore, compared to ₹423.6 crore in the corresponding period of FY25. Total revenue from operations expanded 10.8% to ₹13,555.8 crore from ₹12,226.7 crore a year ago.

The company also confirmed that its 32nd Annual General Meeting (AGM) will be held on Saturday, September 19, 2026, at 12:00 pm via Video Conferencing (VC) or Other Audio Visual Means (OAVM). Shareholders are advised to update their email addresses to receive login details for e-voting and the Annual Report for FY26.

Financial Performance

RMC Switchgears demonstrated strong operational efficiency alongside top-line growth in Q1FY27. Earnings before interest, tax, depreciation, and amortization (EBITDA) stood at ₹1,231.0 crore, up from ₹566.8 crore in Q1FY25. The company’s comprehensive income for the period, after tax and other comprehensive items, totaled ₹954.0 crore.

What the Numbers Show

The divergence between revenue growth and profit expansion highlights improved margin dynamics. While revenue increased by 10.8%, net profit more than doubled, rising by 116.8%. This suggests that cost controls or favorable mix shifts contributed significantly to the bottom line, rather than volume-driven sales growth alone. The EBITDA margin expanded substantially, reinforcing the company’s ability to convert higher revenues into operating profits.

Corporate Actions

The Board of Directors approved the holding of the 32nd AGM in compliance with Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Notices were published in Financial Express (English edition) and Business Remedies (Hindi edition) on August 15, 2026.

Key details for shareholders:

• AGM Date: September 19, 2026
• Time: 12:00 pm (IST)
• Mode: VC/OAVM
• Record Date: To be determined as per MCA circulars

The company’s registered office is located in Jaipur, Rajasthan. Further details regarding the agenda and financial statements are available on the company website and stock exchange portals.

The Board of Directors of RMC Switchgears Limited approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, on August 12, 2026. The company reported a consolidated net profit after tax (PAT) of ₹208.23 lakh, down from ₹408.07 lakh in Q1FY25. Consolidated revenue from operations declined 56% year-on-year to ₹3,723.91 lakh, compared to ₹8,452.91 lakh in the corresponding period of the previous year. The significant drop in profitability and top-line growth highlights a normalization of operations following the exceptionally high performance recorded in FY25.

Standalone net profit also contracted sharply, falling to ₹114.58 lakh from ₹252.57 lakh in Q1FY25. Standalone revenue from operations decreased 58% to ₹3,184.59 lakh, against ₹7,587.52 lakh in the prior year quarter. The statutory auditor, M/s Rakesh Ashok & Co., issued a limited review report on the financial statements, confirming compliance with Ind AS 34 and SEBI Listing Regulations. The comparative figures for Q1FY25 have been restated by management in accordance with Ind AS but were not subject to limited review.

Financial Performance Overview

Cost of materials consumed stood at ₹798.55 lakh for the consolidated entity, significantly lower than the ₹7,820.86 lakh incurred in Q1FY25. Employee benefits expense remained relatively stable at ₹470.01 lakh, while finance costs increased to ₹411.46 lakh from ₹271.50 lakh in the prior year quarter. Other income contributed ₹44.98 lakh to the total income, up from ₹22.88 lakh in Q1FY25.

Strategic Approvals and Corporate Actions

Beyond financial results, the Board approved several strategic initiatives. The authorized share capital is proposed to be increased from ₹15 crore to ₹20 crore, subject to shareholder approval at the upcoming Annual General Meeting (AGM). This involves an increase in equity shares from 1.5 crore to 2 crore, each with a face value of ₹10. Additionally, the Board approved granting loans, guarantees, and security to subsidiary companies up to an aggregate amount of ₹500 crore, pursuant to Section 185 of the Companies Act, 2013. Material related party transactions with subsidiaries were also approved under Section 188 of the Act and Regulation 23 of the SEBI Listing Regulations.

The Board approved the formation of a joint venture with Continental Petroleum Limited for participation in tenders. Furthermore, 1,500 stock options were granted to eligible employees under the RMC Switchgears Limited Employees Stock Option Scheme, 2024. These options vest over six years, with 10% vesting at the end of the first year, increasing annually to 25% in the sixth year. The 32nd AGM is scheduled for September 19, 2026, to be held via video conferencing. Mr. Manoj Maheshwari was appointed as the scrutinizer for the meeting.

What the Numbers Show

The divergence between the sharp decline in revenue and the relatively stable employee benefit costs suggests fixed cost pressures during periods of lower operational volume. While material costs dropped in line with revenue, finance costs rose by approximately 51% year-on-year, indicating potential leverage impacts or higher borrowing costs that warrant monitoring in subsequent quarters. The restatement of prior year figures to Ind AS ensures comparability but underscores the ongoing transition complexities for the group.