RMC Switchgears Limited (RMC)
₹201.94 -0.99% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, RMC Switchgears' revenue was ₹37.2 Cr (-55.9% year on year, -73.9% on the previous quarter), and net profit ₹2.1 Cr (-49.0% year on year); the operating margin was 20.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹37.2 | -55.9% | -73.9% |
| Operating profit | ₹7.8 | -12.7% | -56.0% |
| Net profit | ₹2.1 | -49.0% | -77.5% |
| EPS (₹) | 1.97 | -49.2% | -77.5% |
| Operating margin | 20.8% | — | — |
RMC delivery percentage and bulk deals
NSE end-of-day data for
On Fri, 16 Oct 2026, 56.56% of the RMC shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.4%. That is close to its usual level. Turnover was only ₹20 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal. 2 bulk or block deals were reported in RMC in the last 60 days: ₹2 Cr bought and ₹2 Cr sold.
Delivery in the last 5 sessions: 47.4% · 55.2% · 31.4% · 56.0% · 56.6%
| Date | Side | Counterparty | Value | Price | Quantity | Type |
|---|---|---|---|---|---|---|
| 6 Oct | Buy | Eof - Direct | ₹1.70 Cr | ₹195.93 | 86,750 | Bulk |
| 6 Oct | Sell | India Emerging Giants Fund Limited | ₹1.70 Cr | ₹195.72 | 86,750 | Bulk |
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
RMC Switchgears resubmitted its voting results and Scrutinizer's Report to correct a minor clerical error following a postal ballot concluded on October 12, 2026. Shareholders approved the purchase of industrial land from related party Mr. Ankit Agrawal via an ordinary resolution, with 87.91% of polled votes in favour (promoters abstained as interested parties). Additionally, the appointment of Mr. Dilip Panjwani as an Independent Director was passed as a special resolution with 99.90% approval across 55.42 lakh polled votes.
- Resolution 1 (Land purchase from related party Mr. Ankit Agrawal) passed with 87.91% votes in favour out of 1,00,320 polled votes
- Promoters (holding 54,96,655 shares) did not vote on Resolution 1 as interested parties
- Resolution 2 (Appointment of Dilip Panjwani as Independent Director) passed with 99.90% approval across 55,41,580 polled votes
- Remote e-voting was open from September 13, 2026 to October 12, 2026 across 8,477 registered shareholders
RMC Switchgears Limited has announced that shareholders have approved the appointment of Mr. Dilip Panjwani as an Independent Director through a postal ballot, with results declared on October 13, 2026. The appointment is effective from September 12, 2026. Mr. Panjwani brings over 25 years of experience in financial management, corporate governance, fundraising, and strategic finance. There are no relationships between Mr. Panjwani and any other Director or Key Managerial Personnel of the company.
- Shareholders approved the appointment of Mr. Dilip Panjwani (DIN: 02205645) as Independent Director via postal ballot declared on October 13, 2026
- Appointment is effective retrospectively from September 12, 2026
- Appointee possesses over 25 years of experience in financial management, strategic finance, and corporate governance
- Mr. Panjwani holds no relationship with any existing Director or KMP of the company
RMC Switchgears Limited announced the results of its postal ballot concluded on October 12, 2026. Shareholders approved the purchase of industrial land from related party Mr. Ankit Agrawal via an ordinary resolution, with 87.91% votes cast in favor out of 1,00,320 total votes polled (promoters abstained as interested parties). Additionally, a special resolution was passed with 99.90% approval appointing Mr. Dilip Panjwani as an Independent Director.
- Resolution 1 for industrial land purchase from related party Mr. Ankit Agrawal approved with 87.9057% votes in favor and 12.0943% against.
- Promoter and promoter group held 54,96,655 shares and abstained from voting on the related-party land transaction.
- Resolution 2 for the appointment of Mr. Dilip Panjwani as Independent Director passed with 99.904% votes in favor.
- Remote e-voting saw participation from a total of 40 folios representing 1,00,320 shares on the land acquisition resolution.
RMC Switchgears Limited has submitted its quarterly compliance certificate pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 03, 2026, confirms that securities received for dematerialisation were processed and confirmed to depositories within prescribed timelines. No operational or financial metrics were reported in this filing.
- Compliance certificate submitted for the quarter ended September 30, 2026
- Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Certificate received from Registrar and Share Transfer Agent MUFG Intime India Private Limited dated October 03, 2026
RMC Switchgears announced that its Board of Directors has approved a proposed fundraise via a rights issue of fully paid-up equity shares (face value ₹10) for an aggregate amount not exceeding ₹30 crore. The proposed ₹30 crore fundraise represents approximately 15.1% of the company's current market cap of ₹199 crore and about 24.2% of its net worth of ₹124 crore. Specific terms such as issue price, entitlement ratio, and record date will be determined subsequently. The capital infusion could help support operations or balance sheet deleveraging against current debt of ₹103 crore.
- Rights issue approved for an aggregate amount not exceeding ₹30 crore
- Securities to be issued are fully paid-up equity shares of face value ₹10 each
- Issue price, rights entitlement ratio, and record date to be decided in due course
- Board meeting commenced at 11:00 AM IST and concluded at 11:20 AM IST on October 09, 2026
RMC Switchgears Limited announced that its Board of Directors approved the change of Registrar and Share Transfer Agent (RTA) on October 1, 2026. The company is replacing MUFG Intime India Private Limited, which has served as its RTA since 2017, with Skyline Financial Services Private Limited. MUFG Intime will continue to manage services until connectivity is formally shifted and confirmed by NSDL and CDSL. The effective transition date is yet to be finalized and will be disclosed later.
- Board approved the RTA change via circular resolution on October 1, 2026
- MUFG Intime India (formerly Link Intime) served as RTA since 2017
- Appointed M/s Skyline Financial Services Private Limited as the new RTA
- Effective handover date to be communicated following NSDL and CDSL connectivity
RMC Switchgears Limited announced that its shareholders approved an amendment to the Capital Clause of its Memorandum of Association (MOA) at the AGM held on September 19, 2026. The company's authorised share capital has been increased from Rs 15.00 crore to Rs 20.00 crore. This raises the headroom from 1.50 crore equity shares to 2.00 crore equity shares of face value Rs 10 each. The move expands the company's capital base capacity, often preceding future equity issuances or corporate actions.
- Authorised share capital increased from Rs 15,00,00,000 to Rs 20,00,00,000
- Share headroom raised from 1,50,00,000 to 2,00,00,000 equity shares of Rs 10 each
- Ordinary resolution passed by shareholders at the AGM held on September 19, 2026
RMC Switchgears Limited announced that all 7 resolutions at its 32nd Annual General Meeting held on September 19, 2026, have been passed with the requisite majority. Key approvals include an increase in the authorized share capital, ratification of cost auditor remuneration, and approval of material related-party transactions with subsidiaries. Additionally, shareholders approved a special resolution enabling the company to grant loans, give guarantees, and provide securities to subsidiary companies under Section 185.
- AGM held on September 19, 2026, with all 7 ordinary and special resolutions approved
- Special resolution to grant loans/guarantees to subsidiaries passed with 97.96% of votes polled in favour
- Resolution on material related-party transactions with subsidiaries passed with 98.06% approval
- Remuneration approval for Non-Executive Director Akhilesh Kumar Jain passed with 99.97% votes in favour
RMC Switchgears conducted its 32nd Annual General Meeting on September 19, 2026, with 37 members attending via video conferencing. Key agenda items included increasing authorized share capital, approvals for loans and guarantees to subsidiaries under Section 185, and material related-party transactions. The company reported that the Secretarial Auditor's Report contained 5 qualifications, while the Statutory Auditor gave an unqualified report. Formal voting results and the Scrutinizer's report will be declared within two working days.
- 32nd AGM conducted on September 19, 2026, lasting from 12:00 PM to 13:05 PM IST
- Total of 37 members attended the meeting via video conference
- 7 agenda resolutions tabled, including increasing Authorised Share Capital and loans/guarantees to subsidiaries
- Secretarial Auditor's Report contained 5 qualifications, while Statutory Auditor had no qualifications
RMC Switchgears has designated Mr. Tarun Kumar Sharma as Chief Operating Officer (COO), Smart Solutions at Jaipur (HO), categorized as Senior Management Personnel (SMP) effective September 16, 2026. The appointment was approved by the Board via circular resolution following the recommendation of the Nomination and Remuneration Committee. Mr. Sharma brings over 34 years of professional experience, including a 5-year tenure at VHEL Limited, and holds an MBA. The addition strengthens the leadership team of the Rs 213 Cr market cap electrical equipment maker.
- Appointment of Tarun Kumar Sharma as COO, Smart Solutions effective September 16, 2026
- Designated as Senior Management Personnel (SMP) by Board resolution passed on September 16, 2026
- Appointee possesses over 34 years of total experience, including 5 years with VHEL Limited
RMC Switchgears released its Q1 FY27 investor presentation, reporting consolidated revenue of ₹37.24 crore, down 55.95% YoY from ₹84.53 crore due to project mobilization phases and lower Solar EPC contribution. Despite the revenue contraction, consolidated EBITDA margin expanded to 20.81% (vs 10.50% in Q1 FY26), yielding PAT of ₹2.08 crore (down 48.97% YoY). The company highlighted a robust confirmed unexecuted order book of approximately ₹1,188 crore (over 3x TTM revenue), aided by ₹369.63 crore in new awards received between July and August 2026. Management identified high working capital intensity and collection periods (161 days in FY26) as key operational challenges to address.
- Consolidated revenue fell 55.95% YoY to ₹37.24 crore from ₹84.53 crore in Q1 FY26
- Consolidated PAT decreased 48.97% YoY to ₹2.08 crore, with EPS at ₹1.97
- Confirmed unexecuted order book reached approximately ₹1,188 crore
- Won ₹369.63 crore in new orders across July-August 2026, including ₹333.80 crore from PGVCL
- Consolidated EBITDA margin expanded to 20.81% compared to 10.50% in Q1 FY26 due to revenue mix change
RMC Switchgears has issued a Postal Ballot notice seeking shareholder approval for acquiring industrial land from related party Mr. Ankit Agrawal for ₹22.20 Cr. The transaction value represents approximately 17.9% of the company's net worth (₹124 Cr) and 9.3% of its current market cap (₹238 Cr). Additionally, the company is seeking approval to appoint Mr. Dilip Panjwani as an Independent Director for a 3-year term. The remote e-voting runs from September 13, 2026, to October 12, 2026, with results expected by October 14, 2026.
- Industrial land purchase proposed for ₹22,20,00,000 from related party Mr. Ankit Agrawal
- Land situated at Khasra No. 157, Gram-Barodiya, Tehsil-Kotkhawada, Jaipur, Rajasthan
- Appointment of Mr. Dilip Panjwani as Independent Director for a 3-year term effective September 12, 2026
- Remote e-voting period open from September 13, 2026, to October 12, 2026; results on or before October 14, 2026
RMC Switchgears has appointed Mr. Dilip Panjwani as an Additional Non-Executive Independent Director, effective September 12, 2026, subject to shareholder approval. Mr. Panjwani brings over 25 years of experience across corporate finance, governance, and M&A. Concurrently, the Board approved a proposal to acquire industrial land from a related party, also subject to shareholder clearance via postal ballot. Mrs. Megha Khandelwal has been appointed as the scrutinizer for the postal ballot process.
- Appointment of Mr. Dilip Panjwani as Additional Non-Executive Independent Director effective September 12, 2026
- Dilip Panjwani brings over 25 years of experience in strategic finance, governance, and restructuring
- Board approved a proposal for the purchase of industrial land from a related party, subject to shareholder approval
- Mrs. Megha Khandelwal (FCS: 10237) appointed as Scrutinizer for the upcoming postal ballot
- Trading window for designated persons reopens on September 15, 2026
RMC Switchgears announced that its Board has approved the acquisition of industrial land from a related party, subject to shareholder approval via postal ballot. In the same meeting, the board appointed Mr. Dilip Panjwani, a finance professional with over 25 years of experience, as an Additional Independent Director effective September 12, 2026. However, key financial terms regarding the land acquisition, such as the purchase price, location size, and commercial rationale, were not disclosed in the filing. Mrs. Megha Khandelwal has been appointed as the scrutinizer for the postal ballot process.
- Board approved proposal to purchase industrial land from a Related Party, subject to shareholder approval
- Dilip Panjwani appointed as Additional Independent Director effective September 12, 2026
- Professional profile of the new director highlights over 25 years of experience in finance and governance
- Notice of Postal Ballot and appointment of Scrutinizer approved to seek shareholder assent
- Trading window for designated persons set to open on September 15, 2026
RMC Switchgears Limited has received a Letter of Award (LOA) valued at ₹14,98,65,900 from Maharashtra State Electricity Distribution Co. Ltd. (MAHAVITRAN). The contract entails design, manufacture, supply, installation, testing, and commissioning of off-grid DC solar photovoltaic water pumping systems of 3 HP, 5 HP, and 7.5 HP capacities. It includes a 5-year warranty, repair, maintenance, and remote monitoring system under the PM KUSUM B / Magel Tyala Saur Krushi Pump Yojana. The order represents approximately 3.9% of the company's TTM revenue of ₹383 Cr.
- LOA worth ₹14,98,65,900 awarded by MAHAVITRAN
- Contract execution and maintenance period spans 5 years
- Covers 3 HP, 5 HP & 7.5 HP off-grid DC solar PV water pumping systems
- Order constitutes ~3.9% of company's TTM revenue of ₹383 Cr
Financial Performance
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