RMC Switchgears Limited (RMC) — Financial Results

· NSE 🔴 High Importance Neutral

Investor Takeaways

  • Revenue grew 26.4% YoY to ₹401.59 crores in FY26
  • Net profit was ₹9.3 crores in Q4FY26 after a ₹7.07 crore loss in Q3FY26
  • Unexecuted order book stands at ₹850 crores
  • Retention payments expected in H1 FY27
  • Cash flow to turn positive in FY27
  • Overall Tone: Neutral

    Key Financial Highlights

    MetricValueYoY Change
    Revenue₹401.59 Cr26.4%
    Net Profit₹12.37 CrN/A
    EBITDANot availableN/A
    EPSNot availableN/A
    OPMNot availableN/A

    What Changed

    RMC Switchgears Limited reported a 26.4% year-on-year increase in revenue to ₹401.59 crores for FY26. The company posted a net profit of ₹9.3 crores in Q4FY26, reversing a ₹7.07 crore loss recorded in Q3FY26. This improvement contributed to an annual net profit of ₹12.37 crores. The company highlighted an unexecuted order book of ₹850 crores and a tender pipeline of ₹1,500 crores, targeting 75 lakh transformers across India. Management emphasized the PulseBox IoT solution, which addresses grid safety and theft reduction, operating in a ₹50,000 crore addressable market. The business model is shifting from engineering, procurement, and construction (EPC) to differentiated electrical solutions, focusing on B2B expansion and technology-driven innovation. Management targets ₹5,000 crores in revenue by FY30, representing 10-13x growth by 2030, with positive cash flow expected from FY27 as retention payments are realized.

    Peer Comparison

    CompanyP/EROEROCEMarket Cap (₹ Cr)
    RMC Switchgears LimitedNot availableNot availableNot availableNot available
    [Peer 1]Not availableNot availableNot availableNot available
    [Peer 2]Not availableNot availableNot availableNot available

    No specific peer comparison data was provided in the filing.

    Risks & Concerns

  • No specific risks were identified in this filing.
  • Quarterly Trend

    QuarterRevenue (₹ Cr)Net Profit (₹ Cr)OPM%
    Q3FY26Not available-7.07Not available
    Q4FY26Not available9.3Not available

    The Quarterly Trend section is not included as quarterly financial breakdowns beyond the mentioned quarters were not provided in the context.

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