Financial results for Half year ended on 30-09-2025
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RMC Switchgears posted mixed H1 FY26 results. On a standalone basis, revenue from operations dipped about 7.8% year-on-year to Rs 19,496 lacs, while profit after tax fell roughly 7.9% to Rs 1,948 lacs and EPS came in at Rs 18.46 vs Rs 20.30 a year ago. On a consolidated basis, however, revenue grew about 13% to Rs 24,110 lacs and profit after tax jumped around 90% to Rs 1,954 lacs, helped by subsidiary contributions from the solar and hydro businesses. The statutory auditor M/s Rakesh Ashok & Co issued an unqualified limited review report on both sets of numbers. Operating cash flow was negative on both standalone (-Rs 257 lacs) and consolidated (-Rs 4,656 lacs) levels, reflecting working capital build-up.
Subsidiary-led growth boosted consolidated profits sharply, which is a positive for the group's earnings story, but the standalone core business is showing mild revenue and margin pressure. Negative operating cash flows warrant monitoring as they indicate money is tied up in receivables and inventory.