Hot Pursuit
RMC Switchgears said it has secured an empanelment and rate contract worth Rs 23.64 crore from Maharashtra State Electricity Distribution (MSEDCL) under the 'Magel Tyala Saur Krushi Pump' Yojana/PM-KUSUM B Scheme.
The contract involves the design, manufacture, supply, transportation, installation, testing and commissioning of off-grid DC solar photovoltaic water pumping systems of 3 HP, 5 HP and 7.5 HP capacities at identified farmers' sites across Maharashtra.
The scope of work also includes a five-year comprehensive warranty, repair and maintenance services, and a remote monitoring system (RMS), the company said in a regulatory filing.
The contract has been awarded by a domestic entity and will be executed over a period of five years.
RMC Switchgears clarified that neither its promoters nor promoter group companies have any interest in the awarding authority. It also said the contract does not constitute a related-party transaction.
RMC Switchgears is primarily engaged in the business of Switchgear Engineering', ECI contracts for power distribution/ transmission sector'.
The company's consolidated net profit fell 5.9% to Rs 9.27 crore, while net sales declined 13.7% to Rs 142.94 crore in Q4 FY26 compared with Q4 FY25.
The scrip fell 1.56% to Rs 293 on the BSE.
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