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.

RMC Switchgears has reported a strong financial performance for the first quarter, with significant growth in both revenue and profitability. The company's latest financial results showcase its robust position in the electrical infrastructure solutions sector and its successful expansion into renewable energy.

Financial Highlights

• Profit Before Tax (PBT): ₹12.44 crore
• Consolidated Revenue: ₹86.14 crore, marking a 165% increase from ₹34.04 crore in the same quarter last year

Key Drivers of Growth

RMC Switchgears attributes its impressive performance to several factors:

1. Strong Order Execution: The company has demonstrated efficient execution across its Electrical EPC and Electrical Products segments.

2. Robust Order Book: With an order book exceeding ₹700.00 crore, RMC has secured a strong pipeline for future growth.

3. Strategic Projects: Key initiatives include a 50 MW rooftop solar project in Rajasthan and an underground cabling project in Gujarat.

4. Investment in Renewable Energy: RMC invested ₹2.60 crore in its subsidiary, RMC Green Energy Private Limited, to enhance solar module manufacturing capacity.

Expansion into Renewable Energy

RMC Switchgears is actively expanding its presence in the renewable energy sector:

• The company is planning a 1 GW solar module manufacturing plant.
• This move aligns with India's vision to reduce import dependencies and promote local manufacturing in the clean energy sector.

Management Commentary

Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears Limited, commented on the results: "Our Q1 PBT performance reflects the financial discipline and execution strength of our teams, even as we continue to scale rapidly across multiple infrastructure verticals. With a healthy order pipeline, deepened governance frameworks, and our foray into renewable manufacturing, we are confident of sustaining strong profitability in the coming quarters."

About RMC Switchgears Limited

RMC Switchgears specializes in electrical infrastructure solutions, with a focus on:

• Manufacturing electrical enclosures to prevent electrical theft and enhance safety
• Producing smart meter enclosures for utilities across India
• Offering comprehensive services including manufacturing, installation, and Operations & Maintenance (O&M)
• Supporting India's power sector modernization initiatives, including the Revamped Distribution Sector Scheme (RDSS)

The company is also venturing into water management infrastructure, integrating advanced technologies like IoT to enhance efficiency and reduce losses in the power distribution sector.

RMC Switchgears' strong Q1 performance and strategic initiatives in renewable energy position it well for continued growth in India's evolving infrastructure landscape.