RMC Switchgears Limited has announced several key developments, including progress on its solar manufacturing plant, a new infrastructure contract, and plans for main board migration.

Solar Manufacturing Expansion

RMC Switchgears is advancing its 1 GW Solar Module Manufacturing Plant in Jaipur, representing a ₹100.00 crore investment. The project has faced delays, with the timeline revised from October 2025 to Q4 of the financial year. The company has secured funding through internal accruals and debt from SIDBI, recruited key personnel, and placed orders for capital equipment. The facility aims to provide backward integration for RMC's EPC business and is expected to be operational at full scale by FY26.

New RDSS Order

RMC has received a Letter of Intent from Jaipur Vidyut Vitran Nigam Ltd. for a ₹59.12 crore contract under the Revamped Distribution Sector Scheme (RDSS). The project involves developing distribution infrastructure at Tonk Circle in Rajasthan on a turnkey basis, further strengthening the company's position in the electrical infrastructure sector.

Main Board Migration Status

The company has prepared its application for migration from the SME segment to the BSE Main Board and is awaiting final confirmation from BSE following recent changes in eligibility criteria. This move is expected to enhance market visibility, improve liquidity, and broaden access to institutional investors.

Management Commentary

Ankit Agrawal, CEO of RMC Switchgears Limited, emphasized that these initiatives demonstrate the company's strategy to build an integrated solar value chain while strengthening its distribution infrastructure capabilities. He stated, "Our progress on the 1 GW Solar Module Manufacturing Plant in Jaipur is not merely an operational milestone; it represents a strategic pillar in our efforts to build an integrated solar value chain."

About RMC Switchgears Limited

RMC Switchgears is a key player in the electrical infrastructure solutions sector, specializing in the manufacture of electrical enclosures. The company has established a strong presence in the smart meter enclosure market and is actively supporting utilities across India through initiatives such as the RDSS. RMC's expansion into renewable energy and water management infrastructure further solidifies its role in India's sustainable infrastructure development.

As RMC Switchgears prepares for its transition to the BSE Main Board, investors and industry observers will be keenly watching the company's progress in its solar manufacturing venture and infrastructure projects, which are poised to drive its growth in the coming years.

RMC Switchgears Limited, a company with a market capitalization of ₹780.00 crore, has recently secured a significant contract worth ₹59.12 crore from Jaipur Vidyut Vitran Nigam Limited (JVVNL). This development marks a notable achievement for the company in the power distribution sector.

Contract Details

The company received a Letter of Intent (LOI) from JVVNL for a project valued at ₹59,12,44,356.07. The scope of work includes:

• Development of Distribution Infrastructure Work
• Segregation of 11 KV mixed feeders at Tonk Circle of Jaipur Discom
• Part of the Revamped Reforms-based and Results-linked Distribution Sector Scheme (RDSS)

Project Execution

RMC Switchgears will undertake this project on a turnkey basis, with the following key points:

• Time Frame: The contract is to be executed within 15 months from the effective date of the award, including survey and approval processes.
• Nature of Work: The project focuses on domestic infrastructure development in the power distribution sector.

Impact on Company's Outlook

This new order is expected to have a positive impact on RMC Switchgears:

1. Order Book Strengthening: The contract significantly bolsters the company's order book.
2. Revenue Growth: It is anticipated to contribute positively to the company's revenue and growth prospects.

Market Position

With a market capitalization of ₹780.00 crore, RMC Switchgears appears to be positioning itself as a notable player in the power infrastructure sector. This contract, valued at approximately 7.58% of its market cap, represents a substantial project for the company.

Regulatory Compliance

In compliance with SEBI regulations, RMC Switchgears has duly informed the BSE Limited about this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company has assured stakeholders that it will provide updates on any further material developments related to this project as required by regulations.

This contract win underscores RMC Switchgears' capabilities in the power distribution infrastructure sector and may signal potential for future growth and expansion in similar projects.