RMC Switchgears will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live

The consortium has received three separate EPC contracts along with three-year operations and maintenance (O&M) contracts in the Ahmednagar district of Maharashtra. According to company, 'These new orders not only reinforce RMC Switchgears role in advancing renewable energy but also significantly contribute to India's climate action commitments under the Paris Agreement. The company is actively pursuing additional tenders exceeding 500 MWp and engaging with both public and private sector entities to achieve its ambitious goal of securing 1 GWp in renewable energy.' By collaborating with installation and commissioning experts across multiple states and leveraging its in-house team of skilled designers and supervisors, RMC is positioning itself at the forefront of the green energy revolution. The company's expansion into solar projects helps reduce carbon emissions, fosters economic growth, and creates green jobs, thereby contributing to India's goal of achieving 450 GW of renewable energy capacity by 2030, it added. With a dedicated business development unit continuously seeking new opportunities, RMC's efforts in the renewable sector are aligned with India's ambitious environmental targets. This initiative underscores RMC's commitment to innovation and sustainability, highlighting its role in helping India meets its climate goals and positioning the country as a global leader in renewable energy technologies. Ankit Agrawal, CEO and whole-time director, RMC Switchgears, said: 'These contracts represent a significant step forward for us, enhancing our presence in Maharashtra as we work to broaden our impact in the renewable energy sector. The development of these 46` MW (AC) solar photovoltaic projects not only underscores our commitment to driving the transition from fossil fuels to sustainable energy sources but also aims to provide a sustainable and reliable power supply to farmers in the region.' RMC Switchgears is primarily engaged in the business of `Switchgear Engineering', `ECI contracts for power distribution/ transmission sector'. The company reported standalone net profit of Rs 9.38 crore in H1 FY24 as against Rs 6.14 crore posted in H1 FY23. Net sales stood at Rs 87.42 crore in H1 FY24, up 50.6% year on year. The company has current market capitalisation of Rs 813.38 crore on the BSE. Powered by Capital Market - Live

RMC Switchgears announced that the 30th Annual General Meeting (AGM) of the company will be held on 28 September 2024.Powered by Capital Market - Live

RMC Switchgears has revised the meeting of the Board of Directors which was scheduled to be held on 29 August 2024. The meeting will now be held on 31 August 2024.Powered by Capital Market - Live

RMC Switchgears will hold a meeting of the Board of Directors of the Company on 29 August 2024.Powered by Capital Market - Live

The arm will set up the 50 MW renewable energy park under the Rajasthan Renewable Energy Policy 2023. The company said that this milestone further cements the parent company's entry into the Solar Park business, operating as a renewable IPP (Independent Power Producer). RMC is actively pursuing additional tenders exceeding 600 MWp and is engaging with both public and private sector entities to achieve the ambitious goal of securing 1 GWp in EPC contracts over the next 18 months, it added. By collaborating with installation and commissioning experts across multiple states and leveraging their in-house team of skilled designers and supervisors, RMC is positioning itself at the forefront of the green energy revolution. 'This strategic initiative not only reinforces RMC Switchgears role in advancing renewable energy but also contributes significantly to India's climate action commitments under the Paris Agreement. With a dedicated Business Development unit continuously seeking new opportunities, RMC's efforts in the renewable sector are aligned with India's goal of achieving 450 GW of renewable energy capacity by 2030,' the company stated in the press release. The company's expansion into solar projects helps reduce carbon emissions, foster economic growth, and create green jobs, thereby positioning India as a global leader in renewable energy technologies. This initiative underscores RMC's commitment to innovation and sustainability, highlighting its role in helping India meet its environmental targets, added the firm. Ankit Agrawal, CEO and whole-time director of RMC Switchgears, said, This approval marks a pivotal step in our journey as we transition into a renewable energy company, with solar plants as IPPs and EPC contracts for solar as our primary focus. Establishing its first 50 MW Renewable Energy Park is a testament to our commitment to participating in the strategic fossil energy substitution within India.' RMC Switchgears is primarily engaged in the business of `Switchgear Engineering', `ECI contracts for power distribution/ transmission sector'. The company's consolidated net profit jumped 21.96% to Rs 6.83 crore on 26.73% rise in revenue from operations to Rs 85.21 crore in Q4 FY24 over Q4 FY23. The counter hit an all-time high of Rs 937.90 in today's session. Powered by Capital Market - Live

RMC Switchgears will hold a meeting of the Board of Directors of the Company on 7 August 2024.Powered by Capital Market - Live