RMC Switchgears Limited issues Business Update
RMC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
RMC Switchgears issued a comprehensive business update confirming steady execution across its electrical infrastructure and renewable energy verticals. The company secured a two-year rate contract worth approximately ₹8.06 crore (inclusive of GST) from a leading private power distribution utility for FRP smart meter enclosures. RMC also emerged as the L1 (lowest) bidder in two Revamped Distribution Sector Scheme (RDSS) tenders in Rajasthan covering Jhalawar and Dholpur circles, valued at approximately ₹203 crore (inclusive of taxes), with Letters of Intent still awaited. The company clarified that no official government notification has been issued on recent media reports about potential changes allowing greater participation by overseas (including China-linked) manufacturers in government-led tenders, and stated its operating assumptions remain unchanged. RMC has also applied for migration from the SME platform to the Main Board, currently awaiting regulatory approval.
The ₹203 crore L1 status, if converted to firm orders, represents a very large pipeline addition for this small-cap company and could materially boost future revenue. The clarification removes near-term uncertainty from speculative policy headlines, while the Main Board migration could improve liquidity, visibility, and institutional participation in the stock.