Announcement Under Regulation 30 of SEBI LODR- update about letter of Intent received by Subsidiary
RMC · price
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Awaiting price reaction for this filing.
RMC Switchgears Ltd informed the exchanges that its subsidiary, RMC Green Energy Private Limited, has received a Letter of Intent from Saatvik Cleantech EPC Pvt. Ltd. The order is for the supply, installation, testing and commissioning (SITC) of a 41 MW project for MSEDCL (Maharashtra State Electricity Distribution Company Limited). The agreement was reached during a meeting held on August 12, 2025. Detailed commercial terms including the order value have not been disclosed, citing confidentiality. This marks an entry or expansion of the subsidiary into the solar/renewable energy EPC space for a state utility.
Positive for the company — adds a sizable 41 MW utility-scale order in the green energy segment via the subsidiary, which can boost future revenue and order book visibility, though the actual financial impact is unclear due to non-disclosure of contract value.