PNN
Jaipur (Rajasthan) [India], June 1: RMC Switchgears Limited (NSE: RMC, BSE: 540358), a Jaipur-based power infrastructure, engineering, and EPC solutions company, has announced its audited consolidated financial results for the financial year ended March 31, 2026.
Consolidated Financial Performance (₹ crore)
- Revenue from Operations
- Q4 FY26: 142.94
- Q4 FY25: 165.66
- YoY Change (Q4): -13.7%
- FY26: 401.59
- FY25: 317.73
- YoY Change (FY): +26.4%
- Gross Profit
- Q4 FY26: 31.61
- Q4 FY25: 29.81
- YoY Change (Q4): +6.0%
- FY26: 95.06
- FY25: 94.31
- YoY Change (FY): +0.8%
- Gross Margin %
- Q4 FY26: 22.11%
- Q4 FY25: 17.99%
- YoY Change (Q4): +412 bps
- FY26: 23.67%
- FY25: 29.68%
- YoY Change (FY): -601 bps
- EBITDA
- Q4 FY26: 17.63
- Q4 FY25: 16.66
- YoY Change (Q4): +5.8%
- FY26: 47.10
- FY25: 52.36
- YoY Change (FY): -10.0%
- EBITDA Margin %
- Q4 FY26: 12.34%
- Q4 FY25: 10.06%
- YoY Change (Q4): +228 bps
- FY26: 11.73%
- FY25: 16.48%
- YoY Change (FY): -475 bps
- Profit Before Tax
- Q4 FY26: 12.98
- Q4 FY25: 13.75
- YoY Change (Q4): -5.6%
- FY26: 30.40
- FY25: 41.97
- YoY Change (FY): -27.6%
- PBT Margin %
- Q4 FY26: 9.08%
- Q4 FY25: 8.30%
- YoY Change (Q4): +78 bps
- FY26: 7.57%
- FY25: 13.21%
- YoY Change (FY): -564 bps
- Profit After Tax
- Q4 FY26: 9.30
- Q4 FY25: 9.85
- YoY Change (Q4): -5.6%
- FY26: 22.45
- FY25: 30.89
- YoY Change (FY): -27.3%
- PAT Margin %
- Q4 FY26: 6.51%
- Q4 FY25: 5.95%
- YoY Change (Q4): +56 bps
- FY26: 5.59%
- FY25: 9.72%
- YoY Change (FY): -413 bps
- EPS (₹)
- Q4 FY26: 8.81
- Q4 FY25: 9.53
- YoY Change (Q4): -7.6%
- FY26: 21.18
- FY25: 29.80
- YoY Change (FY): -28.9%
Key Highlights
- Strong annual revenue growth: FY26 consolidated revenue from operations stood at ₹401.59 crore, registering a growth of 26.40% YoY.
- Significant Q4 turnaround: The company moved from a loss of ₹7.07 crore in Q3 FY26 to a profit of
₹9.27 crore in Q4 FY26.
- Healthy Q4 performance: Q4 FY26 consolidated revenue from operations stood at ₹142.94 crore, with EBITDA of ₹17.63 crore and net profit of ₹9.30 crore.
- Full-year profitability maintained: FY26 consolidated EBITDA stood at ₹47.10 crore, while consolidated net profit stood at ₹22.45 crore.
- Diversified power infrastructure platform: RMC continues to operate across switchgear engineering, smart metering solutions, electrical safety products and EPC projects.
- Well-positioned for sector opportunities: The company remains focused on opportunities arising from power distribution modernisation, transmission infrastructure, smart metering and renewable energy development across India.
During FY26, RMC Switchgears reported consolidated revenue from operations of ₹401.59 crore, compared with ₹317.73 crore in FY25, representing a growth of 26.40% year-on-year. Consolidated EBITDA for the year stood at ₹47.10 crore, while consolidated profit after tax stood at ₹22.45 crore.
The company's performance was supported by continued execution across its power infrastructure and EPC businesses, as well as sustained demand across its core operating segments.
In Q4 FY26, the company reported consolidated revenue from operations of ₹142.94 crore. Consolidated EBITDA stood at ₹17.63 crore, compared with ₹16.66 crore in Q4 FY25, reflecting a growth of 5.84% YoY. Consolidated profit after tax stood at ₹9.30 crore. The quarter also marked a significant recovery from Q3 FY26, when the company had recorded a loss of ₹7.07 crore.
Commenting on the performance, Mr. Ashok Kumar Agarwal, Managing Director, RMC Switchgears Limited, said:
"FY26 was a year of strong revenue growth for RMC Switchgears, with consolidated revenue increasing by 26.40% to ₹401.59 crore. This performance reflects the strength of our execution capabilities, the depth of our project portfolio, and the confidence of our customers across the power infrastructure ecosystem.
The year also posed profitability challenges for the broader electrical and EPC sectors, including rising commodity costs, currency volatility, global supply chain disruptions, and geopolitical uncertainty. Despite this environment, we remained focused on protecting project quality, delivery commitments, and long-term customer relationships.
Importantly, the company delivered a strong recovery in the second half of the year. We moved from a loss of ₹7.07 crore in Q3 FY26 to a profit of ₹9.30 crore in Q4 FY26. This turnaround was driven by improved project execution, better cost controls, a stronger project mix and operational efficiencies across the business.
RMC continues to strengthen its position as an integrated power infrastructure company with capabilities across switchgear engineering, EPC projects, smart metering solutions, and electrical safety products. Our manufacturing and project execution capabilities allow us to serve utilities, infrastructure companies, and government-led projects across multiple states in India.
Looking ahead, we remain optimistic about FY27. India's continued focus on power distribution modernisation, renewable energy expansion, smart metering implementation, and sustained infrastructure capex provides a supportive environment for our business. With a healthy order pipeline, ongoing cost optimisation initiatives, and a sharper focus on execution efficiency, we are well-positioned to improve our operating performance and create sustainable long-term value for stakeholders."
With the Government of India's continued emphasis on strengthening power infrastructure, expanding renewable energy capacity, and accelerating smart metering implementation, RMC Switchgears remains well-placed to participate in emerging sector opportunities. The company will continue to focus on scaling its operations, enhancing execution capabilities, improving operational efficiencies, and building a strong project pipeline to support sustainable growth.
About RMC Switchgears Limited
RMC Switchgears Limited is a Jaipur-headquartered company engaged in the power infrastructure sector with over three decades of experience in engineering, manufacturing, and project execution. Established in 1994 as RFH Metal Castings Pvt. Ltd., the company has grown from a small manufacturing setup into an integrated player serving power utilities, OEMs, and EPC contractors across India.
RMC manufactures smart energy meter enclosures, distribution boxes, electrical safety products, and other power infrastructure solutions, and also undertakes EPC projects for power distribution and transmission networks. Over the years, the company has achieved several key milestones, including its entry into turnkey EPC projects in 2014, its listing on the BSE SME platform in 2017, the execution of large-scale metering and power distribution projects across multiple states, and its expansion into the Solar EPC segment.
RMC Switchgears Limited is listed on the BSE under Scrip Code 540358 and on NSE under Symbol RMC.
For more information, please visit: www.rmcindia.in
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