NSE: RMC · BSE: 540358 · ISIN INE655V01019
RMC Switchgears Limited stock analysis
RMC Switchgears Limited ranks #3481 in the TickerSutra evidence-ranked universe with a score of 40/100 and 87% data confidence. The latest captured fundamentals show ROCE of 22.0%, quarterly sales growth of -55.9% and quarterly profit growth of -48.9%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- ROCE is 22%
- 47.6% three-year sales CAGR
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
- Operating margin has compressed materially
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2018 | ₹83cr | ₹9cr | ₹3cr | 11.0% |
| 2019 | ₹132cr | ₹13cr | ₹4cr | 10.0% |
| 2023 | ₹125cr | ₹26cr | ₹12cr | 21.0% |
| 2024 | ₹172cr | ₹34cr | ₹15cr | 20.0% |
| 2025 | ₹318cr | ₹52cr | ₹31cr | 16.0% |
| 2026 | ₹402cr | ₹47cr | ₹22cr | 12.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Rmc Switchgears Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineAlteration Of Capital and Fund Raising-XBRLNSE · 22 Sept 2026 · Structured filingRMC SWITCHGEARS LIMITED has informed the Exchange regarding Alteration of capital
RMC SWITCHGEARS LIMITED has informed the Exchange regarding Alteration of capital
Open original XBRL sourceIncrease in the Authorised Capital of the Company
RoutineAmendment to AOA/MOANSE · 22 Sept 2026Rmc Switchgears Limited has informed the Exchange regarding the Amendment to AOA/MOA of the company.
RoutineShareholders meetingNSE · 22 Sept 2026Rmc Switchgears Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 19, 2026. Further, the company has informed the Exchange regarding voting results.
MANAGEMENT COMMENTARY
Signals from filed documents
Extended rainfall in Maharashtra delayed site-level activity and shifted part of the execution cycle into the second half. z Cost absorption on existing orders. Older orders absorbed cost increases directly, as input prices moved beyond their original cost structure; the response is tighter project selection and procurement discipline z PulseBox investment.
Samujjal Ganguly was appointed Business Head of RMC Green Energy Private Limited with effect from 3rd June 2025. Regulatory and compliance capability was reinforced ahead of the Main Board transition, with Mrs. Shivani Bairathi appointed Company Secretary and Compliance Officer on 23rd June 2025.
z Year-end input and logistics pressure. Around year-end, fuel, freight, logistics and procurement lines tightened, with sharp increases in crude, natural gas and fuel-and- power costs adding to margin pressure. China-linked supply-chain disruptions, safeguard duty cost movements, and higher solar input costs exceeded the assumptions in some earlier Solar EPC orders, which were cancelled, reworked or deferred, with s
Higher-voltage equipment carries longer manufacturing and testing cycles. Utility projects can take from six months to over a year to convert from pipeline to order , through survey, problem statement and regulatory approvals. This lengthens the pipeline-to- revenue path 2.
The facility of participation at the AGM through VC/OAVM will be made available to atleast 1000 members on first come first served basis. This will not include large Shareholders (Shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee,
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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