RMC Switchgears has secured a significant contract worth ₹23.63 crore from Maharashtra State Electricity Distribution (MSEDCL) under the 'Magel Tyala Saur Krushi Pump' Yojana/PM-KUSUM B Scheme. According to the latest reports from Business Standard, the company has received Letters of Award (LOA) from MAHAVITRAN- Maharashtra State Electricity Distribution Co. (MSEDCL) for the comprehensive off-grid DC solar photovoltaic water pumping systems project. The stock price fell 1.56% to ₹293 on the BSE following the announcement.
The contract encompasses the design, manufacture, supply, transportation, installation, testing and commissioning of off-grid DC solar photovoltaic water pumping systems with 3 HP, 5 HP and 7.5 HP capacities at identified farmers' sites across Maharashtra. As reported by Business Standard, the scope includes a five-year comprehensive warranty, repair and maintenance services, and a remote monitoring system (RMS). The contract has been awarded by a domestic entity and will be executed over a five-year period at identified farmer sites in various districts across Maharashtra.
RMC Switchgears has clarified that neither its promoters nor promoter group companies have any interest in the awarding authority. The company also confirmed that the contract does not constitute a related-party transaction. The comprehensive project includes complete system warranty and its repair and maintenance services for the five-year period under the PM KUSUM B Scheme.
RMC Switchgears is primarily engaged in the business of Switchgear Engineering' and ECI contracts for power distribution/transmission sector. The company's consolidated net profit fell 5.9% to ₹9.27 crore, while net sales declined 13.7% to ₹142.94 crore in Q4 FY26 compared with Q4 FY25. The latest contract win represents a significant addition to the company's order book in the renewable energy sector.
