Letter of Intent recieved amounting to Rs. 27.94 Crores
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RMC Switchgears Ltd has received a Letter of Intent (LOI) valued at Rs. 27.94 crores (inclusive of all taxes) from Aarka Corporation Private Limited, a domestic entity. The order is for the supply of Fiber Reinforced Plastic (FRP) fencing for fixing and distribution transformer centres across locations in Bhandup, Kalyan, Nashik, and Pune zones. Work is to commence within 15 days from the LOI award date and will follow a manufacturing milestone schedule. The transaction is not a related party transaction, and promoters have no interest in the awarding entity. The company says this strengthens its order book and is expected to contribute positively to revenue and growth.
This is a significant order inflow for RMC Switchgears that boosts its order book visibility. For retail investors, it signals continued business momentum, though execution timelines and conversion of the LOI into a confirmed contract remain key things to watch.