RMC Switchgears bolsters AMISP support with expanded Smart Metering Enclosure capacity

RMC Switchgears Ltd. has announced the expansion of its manufacturing capacity for SMC Smart Metering Enclosures mainly to cater for the rising demand from AMISP (Advanced Metering Infrastructure for Smart Payment) Projects. The enhancement will enlarge RMC's production capacity by additional 300,000 enclosures annually. The projected capital expenditure for this expansion is estimated between Rs. 7-10 crore, which will be funded through the Company's own reserves and term loans.

Expressing his enthusiasm regarding the expansion, Mr. Ankit Agrawal, the Chief Financial Officer at RMC, stated, "Our enhanced production capacity for SMC Smart Metering Enclosures, will position us at the right place, at the right time, with the right credentials, to efficiently meet the escalating demands of AMISP Projects. We are taking a proactive approach to providing premium quality solutions, meeting the evolving needs of our clientele in the utility sector. With this expansion, we are poised to play a meaningful role in the transformation of our power sector, and drive utility infrastructure modernization through innovative solutions."

In response to the Revamped Distribution Sector Scheme's (RDSS) updated mandates, which promote the deployment of smart meters through a Public-Private Partnership (PPP) model, RMC is investing in being well-placed for providing state-of-the-art smart metering enclosure solutions. Under the scheme, the Advanced Metering Infrastructure Service Provider (AMISP) will be responsible for supplying, maintaining, and operating the smart metering system post-installation. This includes an initial upfront payment for partial capital costs, followed by subsequent payments over a 7 to 10-year period based on performance metrics, ensuring the AMISP's accountability throughout the project's duration. RMC gears up to support the Central Govt initiative as anticipated installation of 115 lakh enclosures (Only DTC Meter's where SMC Enclosures are mandatory) in the next 2-3 years as per the scheme, the company is committed to delivering seamless and efficient smart metering solutions in alignment with the RDSS mandates. Out of which so far Govt has placed order of approx. 12 lacs enclosures.

Engaged in ongoing dialogue with key industry leaders like Genus, Adani, GMR, Monte Carlo, NCC, and Polaris, RMC is positioned favourably to potentially secure meaningful contracts for supplying enclosures for Distribution Transformer Centre (DTC) Meters to support their AMISP initiatives.

Shares of RMC Switchgears Ltd was last trading in BSE at Rs. 404.05 as compared to the previous close of Rs. 432.75. The total number of shares traded during the day was 99000 in over 241 trades.

The stock hit an intraday high of Rs. 432.95 and intraday low of 389.50. The net turnover during the day was Rs. 39778068.00.

Source : Equity Bulls

Keywords

RMCSwitchgears INE655V01019 Expansion SmartMeteringEnclosures AMISPProjects