RMC Switchgears Limited has reported a stellar performance for the first quarter, marking significant strides in its growth trajectory and renewable energy initiatives.

Q1 Financial Highlights

RMC Switchgears posted consolidated revenue of ₹86.14 crore in Q1, registering an impressive year-on-year growth of over 165% compared to ₹34.04 crore in the same period last year. This robust performance underscores the company's strong execution capabilities across its core business segments, including solar EPC, smart metering, and electrical infrastructure.

Strong Order Book

The company maintains a healthy order book exceeding ₹700 crore, providing visibility for sustained growth in the coming quarters. Historically, RMC has seen higher revenue realization in the second half of the fiscal year due to the nature of its EPC contracts and milestone-based billing cycles.

Green Energy Investments

In a strategic move to bolster its renewable energy manufacturing capacity, RMC invested ₹2.60 crore in its wholly-owned subsidiary, RMC Green Energy Private Limited. This investment involved the allotment of 26,00,000 equity shares at ₹10 each, increasing RMC's stake in the subsidiary to 99.58%.

Key Appointments

RMC Green Energy appointed Mr. Samujjal Ganguly as Business Head. With over 30 years of experience in the solar industry, Mr. Ganguly's expertise is expected to drive the company's expansion in the green energy sector.

In a move to strengthen its compliance framework, RMC Switchgears appointed Mrs. Shivani Bairathi as Compliance Officer. This appointment aligns with the company's commitment to robust corporate governance amid its rapid business expansion.

New Solar Project

In a recent development, RMC Green Energy Private Limited secured a Letter of Intent from Saatvik Cleantech EPC Pvt. Ltd for a significant 41 MW MSEDCL project. The contract, valued at ₹61.08 crore, involves the supply, installation, testing, and commissioning of the solar project.

Leadership Perspective

Mr. Ankit Agarwal, CEO & Whole-Time Director of RMC Switchgears, commented on the Q1 performance: "Achieving over 165% growth in Q1 is a strong testament to RMC's execution excellence and strategic focus, while also highlighting the vast opportunities emerging from India's dynamic business environment. With a robust order book and deeper vertical integration underway, we are well-positioned to deliver a strong year."

Future Outlook

RMC Switchgears maintains its vision to become a ₹5000 crore enterprise by 2030, focusing on solar EPC, smart metering infrastructure, and green energy manufacturing. The company's recent investments and strategic appointments reflect its commitment to this goal and its role in India's clean energy transition.

The company continues to expand its footprint in solar EPC, green energy projects, and IPP solutions, while also pursuing backward integration with a proposed 1 GW solar module manufacturing plant. This aligns with India's vision to reduce import dependencies and promote local manufacturing in the renewable energy sector.

As RMC Switchgears evolves into a multi-vertical infrastructure company, it remains focused on performance with purpose, strengthening capabilities, deepening governance, and powering India's journey towards a cleaner, more self-reliant energy landscape.

RMC Switchgears Limited's subsidiary, RMC Green Energy Private Limited, has received a significant boost to its project portfolio. The company has been awarded a Letter of Intent (LOI) from Saatvik Cleantech EPC Pvt. Ltd for a substantial 41 MW project with Maharashtra State Electricity Distribution Company Limited (MSEDCL).

Project Details

The scope of the project encompasses the supply, installation, testing, and commissioning (SITC) work for the 41 MW MSEDCL project. The specifications and terms for this undertaking were mutually agreed upon during a meeting held on August 12, 2025.

Contract Value

In a disclosure to the BSE Limited, RMC Switchgears Limited revealed that the total contract value for this project amounts to ₹61.08 crore. This substantial figure underscores the significance of the project for RMC Green Energy and its parent company.

Confidentiality and Disclosure

While the Letter of Intent has been officially received, the company has maintained confidentiality regarding the detailed commercial terms of the agreement. This adherence to confidentiality obligations is a common practice in such business dealings.

Regulatory Compliance

The disclosure of this development was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ankit Agarwal, CEO & Whole Time Director of RMC Switchgears Limited, signed off on the regulatory filing.

Implications for RMC Switchgears

This new contract for RMC Green Energy Private Limited represents a notable achievement for the RMC Switchgears group. It not only adds a significant project to their portfolio but also demonstrates their growing presence in the renewable energy sector, particularly in large-scale solar projects.

The successful execution of this 41 MW MSEDCL project could potentially strengthen RMC Green Energy's position in the market and contribute positively to the overall performance of RMC Switchgears Limited.