RMC Switchgears adds ₹120 Cr Bihar utility order; unexecuted order book crosses ₹1,188 Cr
RMC Switchgears Ltd (NSE: RMC, BSE: 540358) disclosed on 9 October 2026 that it received an order worth ₹120 Cr from a Bihar-based power distribution utility for supply of smart meters and electrical equipment (BSE filing, 2026-10-09). The company stated the order is part of its expanding confirmed unexecuted order book, which stood at ₹1,188 Cr as of its investor presentation d ated 16 September 2026.
A flurry of order wins since July
The Bihar order is the latest in a series of announcements that began accumulating from late July 2026.
- 24 July 2026: ₹5.01 Cr order from Genus Power Infrastructures for solar panel mounting structures, to be executed in 6 months (BSE filing, 2026-07-24).
- 24 July 2026: ₹2.84 Cr order from Jaipur Vidyut Vitran Nig am for 100 Amp L.T . distribution kiosks, execution 6 months (BSE filing, 2026-07-24).
- 4 August 2026: ₹2.44 Cr from Southern Power Distribution Company of Telangana for LT Distribution Boxes, execution 12 months (BSE filing, 2026-08-04).
- 4 August 2026: 12 Letters of Award aggregating ₹333.80 Cr from Paschim Gujarat VIJ Company Limited (P GVCL) for turn key conversion of overhead lines to underground cable networks in Gujarat, execution 12–18 months (BSE filing, 2026-08-04).
- 13 August 2026: ₹1.89 Cr from An and Transformers for transformer distribution boxes (BSE filing, 2026-08-13).
- 8 September 2026: ₹14.98 Cr from MAHAVITRAN (Maharashtra State Electricity Distribution Co.) for off-grid DC solar water pumping systems under PM KUSUM, including a 5-year warranty and remote monitoring (BSE filing, 2026-09-08).
The company also filed a combined announcement on 5 August 2026 confirming fresh orders totalling ₹344.10 Cr, led by the PGV CL mandate (BSE filing, 2026-08-05).
Unexecuted order book reaches ₹1,188 Cr
The 16 September 2026 investor presentation disclosed a confirmed unexecuted order book of ₹1,188 Cr (BSE filing, 2026-09-16). The ₹120 Cr Bihar order announced afterwards will add to that figure, but no updated order-book number has been filed as of 11 October 2026.
Q1FY27 margins improve despite lumpy revenue
The company’s Q1FY27 results, filed on 12 August 2026, showed consolidated revenue of ₹37.24 Cr and PAT of ₹2.08 Cr. EBITDA margin rose to 22% from 12.31% in Q4FY26, even as revenue dropped 73.9% sequentially—indicating large quarter-to-quarter swings typical of project-driven execution.
For the full year FY26, a concall presentation on 15 June 2026 reported revenue of ₹401.6 Cr, up 26.4% year-on-year, with Q4 net profit of ₹9.3 Cr rebounding from a loss in Q3. The same presentation stated a revenue aspiration of ₹5,000 Cr by FY30.
Management changes and a proposed rights issue
- 12 September 2026: The board approved appointment of Dilip Panj wani as Independent Director and a related-party purchase of industrial land, subject to shareholder vote (BSE filing, 2026-09-12).
- 16 September 2026: Tarun Kumar Sharma was appointed COO – Smart Solutions, Jaipur (B SE filing, 2026-09-16).
- 1 October 2026: The company informed exchanges that its board would meet on 9 October 2026 to consider a rights issue of equity shares and constitute a Rights Issue Committee (BSE filing, 2026-10-01). As of 11 October 2026, no disclosure on the outcome of that meeting had been filed.
What the filings say to watch next
The PGV CL underground-cabling contracts carry execution timelines of 12–18 months, placing initial completion targets between late-2027 and mid-2028. The solar pumping order under PM KUSUM includes a 5-year comprehensive warranty period. No revised order-book figure after the Bihar order has been published yet. The company has not disclosed the record date or terms of the proposed rights issue as of this writing.
Alpha Inflection is research infrastructure, not investment advice. We are not SEBI-registered investment advisers. Everything above is compiled from public corporate filings, with sources cited. Do your own research.
The filing evidence
| Date | What the filing said | Detail | Source |
|---|---|---|---|
| 24 Jul 2026 | RMC Switchgears receives ₹5.01 Cr order from Genus Power Infrastructures for solar panel mounting structures | RMC Switchgears has received a Letter of Award from Genus Power Infrastructures Limited valued at ₹5,01,72,500 for the supply of UND S_Panel mounting structures (1.1KW, 600/1200MM) with a minimum ground clearance of 600mm. The order is to be executed within 6 months. | filing |
| 24 Jul 2026 | RMC Switchgears receives ₹2.84 Cr Letter of Award from Jaipur Vidyut Vitran Nigam for 100 Amp L.T. distribution kiosks for underground cabling. | RMC Switchgears Limited has received a Letter of Award (LOA) from Jaipur Vidyut Vitran Nigam Limited valued at ₹2.84 crore for the supply of 100 Amp L.T. Distribution Kiosks suitable for underground cabling. The order is to be executed within 6 months. | filing |
| 4 Aug 2026 | RMC Switchgears receives ₹2.44 Cr order from Telangana discom for LT Distribution Boxes | RMC Switchgears has received 12 Letters of Award from Southern Power Distribution Company of Telangana Limited for the supply of LT Distribution Boxes worth ₹2.44 crore, with execution within 12 months. | filing |
| 4 Aug 2026 | RMC Switchgears receives 12 Letters of Award worth ₹333.80 crore from Paschim Gujarat VIJ Company Limited for turnkey underground cable network conversion in Gujarat. | RMC Switchgears Limited has received 12 Letters of Award (LOAs) aggregating to ₹333.80 crore from Paschim Gujarat VIJ Company Limited (PGVCL) for turnkey contracts covering site survey, design, engineering, supply, installation, testing, and commissioning for conversion of existing 11 kV HT and LT overhead lines to underground cable networks across multiple subdivisions in Gujarat, with execution timelines ranging from 12 to 18 months after a 45-day commencement period. | filing |
| 5 Aug 2026 | RMC Switchgears receives orders aggregating ₹344.10 crore, led by a ₹333.80 crore underground cabling mandate from PGVCL | RMC Switchgears announced receipt of fresh orders totaling ₹344.10 crore, including 12 Letters of Acceptance from Paschim Gujarat Vij Company Limited worth ₹333.80 crore for turnkey underground cable network conversion, along with smaller orders from Genus Power Infrastructures (₹5.02 crore), Jaipur Vidyut Vitran Nigam (₹2.84 crore), and Telangana discom (₹2.44 crore). | filing |
| 13 Aug 2026 | RMC Switchgears receives ₹1.89 crore order from Anand Transformers Private Limited for transformer distribution boxes. | RMC Switchgears has received a Letter of Award worth ₹1.89 crore from Anand Transformers Private Limited for a turnkey contract to provide new service connections with infrastructure extension (Phase III) for transformer distribution boxes. | filing |
| 8 Sept 2026 | RMC Switchgears receives ₹14.99 crore order from MAHAVITRAN for solar water pumping systems under PM KUSUM scheme. | RMC Switchgears has received a Letter of Award worth ₹14.98 crore from Maharashtra State Electricity Distribution Co. Ltd. (MAHAVITRAN) for design, manufacture, supply, transport, installation, testing and commissioning of off-grid DC solar photovoltaic water pumping systems of 3 HP, 5 HP and 7.5 HP capacity at farmer sites in Maharashtra, including a 5-year complete system warranty and remote monitoring system. | filing |
| 9 Oct 2026 | RMC Switchgears receives order worth Rs 120 crore from Bihar utility | RMC Switchgears announced it has received an order worth Rs 120 crore from a Bihar-based power distribution utility for supply of smart meters / electrical equipment. The order is part of the company's expanding confirmed unexecuted order book, which stood at ₹1,188 crore as of the recent investor presentation. | filing |
| 15 Jun 2026 | RMC Switchgears posts FY26 revenue of ₹401.6 Cr (+26.4% YoY) with Q4 net profit of ₹9.3 Cr rebounding from Q3 loss, unveils ₹50,000+ Cr PulseBox addressable market and maintains ₹5,000 Cr revenue aspiration by FY30. | filing | |
| 12 Aug 2026 | Q1FY27 consolidated revenue was ₹37.24 Cr and PAT ₹2.08 Cr, while EBITDA margin rose to 22% from 12.31% in Q4FY26 despite a 73.9% sequential revenue decline, indicating strong but currently lumpy execution. | filing | |
| 12 Sept 2026 | RMC Switchgears board approves appointment of Mr. Dilip Panjwani as Independent Director and purchase of industrial land from related party, subject to shareholder approval. | The Board of Directors approved the purchase of industrial land from a related party (subject to shareholder approval) and appointed Mr. Dilip Panjwani as an Additional Independent Director, along with approving the notice of postal ballot and appointment of scrutinizer. | filing |
| 16 Sept 2026 | RMC Switchgears expands its confirmed unexecuted order book to ₹1,188 crore following major utility awards while transitioning toward intelligent power infrastructure solutions. | filing | |
| 16 Sept 2026 | RMC Switchgears appoints Tarun Kumar Sharma as Chief Operating Officer (COO) with effect from September 16, 2026. | RMC Switchgears, based on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Mr. Tarun Kumar Sharma as Chief Operating Officer (COO) of Smart Solutions at Jaipur (HO), designated as Senior Management Personnel, effective September 16, 2026. | filing |
| 1 Oct 2026 | RMC Switchgears schedules board meeting on October 9, 2026 to consider a rights issue of equity shares. | The company informed the stock exchanges that its board will meet on October 9, 2026, to consider and approve raising funds through a rights issue of equity shares to existing shareholders, constitute a Rights Issue Committee, and approve the objects of the issue. | filing |
Quick answers
- What did RMC Switchgears disclose?
- RMC Switchgears Ltd (NSE: RMC, BSE: 540358) disclosed on 9 October 2026 that it received an order worth ₹120 Cr from a Bihar-based power distribution utility for supply of smart meters and electrical equipment (BSE filing, 2026-10-09).
- What are the key numbers?
- The 16 September 2026 investor presentation disclosed a confirmed unexecuted order book of ₹1,188 Cr (BSE filing, 2026-09-16). The ₹120 Cr Bihar order announced afterwards will add to that figure, but no updated order-book number has been filed as of 11 October 2026.
- What does RMC Switchgears say comes next?
- The PGV CL underground-cabling contracts carry execution timelines of 12–18 months, placing initial completion targets between late-2027 and mid-2028. The solar pumping order under PM KUSUM includes a 5-year comprehensive warranty period. No revised order-book figure after the Bihar order has been published yet.
Research and educational content only. Not investment advice. Drafted from regulatory filings and published automatically — see our editorial policy.