RMC Switchgears Ltd
Incorporated in 1994, RMC Switchgears Ltd is in the business of Switchgear Engineering, ECI contracts for power distribution/ transmission sector[1]
- Market Cap ₹ 428 Cr.
- Current Price ₹ 404
- High / Low ₹ 897 / 300
- Stock P/E 10.6
- Book Value ₹ 120
- Dividend Yield 0.00 %
- ROCE 37.5 %
- ROE 38.0 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 32.8%
Cons
- Company has high debtors of 170 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Electrical Equipment Other Electrical Equipment
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|
| 83 | 132 | 125 | 172 | 318 | 454 | |
| 74 | 119 | 99 | 138 | 264 | 387 | |
| Operating Profit | 9 | 13 | 26 | 34 | 54 | 67 |
| OPM % | 11% | 10% | 21% | 20% | 17% | 15% |
| 1 | 1 | 0 | -1 | 1 | 1 | |
| Interest | 5 | 6 | 7 | 9 | 9 | 11 |
| Depreciation | 2 | 2 | 3 | 3 | 3 | 4 |
| Profit before tax | 3 | 5 | 17 | 21 | 43 | 54 |
| Tax % | 16% | 26% | 31% | 30% | 26% | |
| 3 | 4 | 12 | 15 | 31 | 41 | |
| EPS in Rs | 2.77 | 4.12 | 11.40 | 14.44 | 29.82 | 38.30 |
| Dividend Payout % | 0% | 0% | 0% | 1% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 139% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 137% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 107% |
| 3 Years: | 43% |
| 1 Year: | -33% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 33% |
| Last Year: | 38% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 6 | 6 | 7 | 10 | 11 | 11 |
| Reserves | 17 | 21 | 39 | 50 | 96 | 116 |
| 37 | 41 | 46 | 50 | 59 | 75 | |
| 21 | 38 | 24 | 45 | 103 | 119 | |
| Total Liabilities | 82 | 106 | 117 | 155 | 269 | 320 |
| 24 | 29 | 30 | 28 | 30 | 31 | |
| CWIP | 5 | 0 | 0 | 0 | 8 | 12 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 52 | 77 | 87 | 128 | 232 | 277 | |
| Total Assets | 82 | 106 | 117 | 155 | 269 | 320 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 0 | 3 | -0 | 8 | 16 | |
| -4 | 2 | -3 | -1 | -23 | |
| 2 | -4 | 4 | -5 | 15 | |
| Net Cash Flow | -1 | 1 | 0 | 2 | 8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2018 | Mar 2019 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 147 | 140 | 166 | 194 | 170 |
| Inventory Days | 61 | 54 | 43 | 39 | 33 |
| Days Payable | 137 | 145 | 56 | 73 | 124 |
| Cash Conversion Cycle | 72 | 49 | 154 | 160 | 79 |
| Working Capital Days | 44 | 49 | 95 | 99 | 75 |
| ROCE % | 18% | 32% | 38% |
Insights
In beta| Mar 1994 | Mar 2005 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Manufacturing Capacity: Smart Meter Enclosures Units per Annum ・Standalone data |
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| Manufacturing Facility Size Sq. Ft. ・Standalone data |
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| Permanent Employees Number ・Standalone data |
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| Net Working Capital Cycle Days ・Standalone data |
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| Order Book / Pipeline ₹ Crore |
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| Revenue Contribution: Electrical EPC ₹ Crore ・Standalone data |
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| Revenue Contribution: Electrical Products ₹ Crore ・Standalone data |
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Documents
Announcements
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Compliances-Reg.24(A)-Annual Secretarial Compliance
3 Mar - Secretarial Compliance Report for Apr 1, 2024–Dec 31, 2025; Reg.30 and PIT 3(5) non-compliances.
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Announcement under Regulation 30 (LODR)-Change in Directorate
2 Mar - Appointment of Mrs. Manisha Godara as Independent Director effective 2 March 2026, five-year term subject to shareholder approval.
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Announcement under Regulation 30 (LODR)-Credit Rating
26 Feb - Infomerics upgraded bank facilities: LT Rs85cr (from Rs50cr) IVR BBB; ST Rs105cr (from Rs90.75cr) IVR A3+.
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Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015
20 Feb - Promoter Ankit Agrawal bought 845,700 shares (28-Jan-2026), raising stake from 9.71% to 17.72%.
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Announcement under Regulation 30 (LODR)-Updates on Acquisition
19 Feb - Inter-se gift of 845,700 shares (8.02%) to Ankit Agrawal on 19.02.2026.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Concalls
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Nov 2025Transcript PPT REC
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Jun 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Jun 2024TranscriptAI SummaryPPT
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Nov 2023TranscriptAI SummaryPPT
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Jul 2023TranscriptAI SummaryPPT
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May 2023TranscriptAI SummaryPPT
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Jan 2023TranscriptAI SummaryPPT
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Oct 2022TranscriptAI SummaryPPT
Business Overview:[1][2]
RMCSL is an ISO certified company researching, designing, and manufacturing electronic smart energy meter enclosures, distribution boxes & panels, and other electrical safety & distribution equipment. With equipment made of plastics, fibre reinforced plastics, and sheet metals, RMC Switchgears also offers end-to-end solutions, including Engineering, Procurement, and Construction