RMC Switchgears Ltd receives LOAs amounting to Rs. 100.19 crores

RMC Switchgears Limited has received two Letters of Awards (LOAs) amounting to [₹ 66,39,41,958.00 (Rupees Sixty Six Crore Thirty Nine Lacs Forty One Thousand Nine Hundred Fifty Eight only) And ₹ 33,79,68,833.00 (Rupees Thirty Three Crore Seventy Nine Lacs Sixty Eight Thousand Eight Hundred Thirty Three Only )] as following:

- Supply & Erection Of Items For The Various Activities Of Development Of Distribution Infrastructure At Jhalawar Circle Of Jaipur Discom Of Rajasthan State Under RDSS On Turnkey Basis Against RFP No. JVVNL/RDSS/JHW/TN-588(66.39 Crores)

- Work Order For Supply And Development Of Distribution Infrastructure For Loss Reduction Works At Kota Circle Of Rajasthan Under Revamped Reforms-Based And Results-Linked, Distribution Sector Scheme Tn532(33.79 Crores)

The receipt of this LOA further strengthens the Company's order book and is expected to contribute positively to the Company's revenue and growth prospects.

These projects encompass a comprehensive scope, including the supply, erection, and commissioning of distribution infrastructure, as outlined in the technical specifications and timelines under the RDSS framework. The initiatives are aimed at modernising the grid, reducing technical and commercial losses, and improving the quality and reliability of power supply in Rajasthan.

These developments occur at a time when the government has extended the Revamped Distribution Sector Scheme (RDSS) by two years, due to slower-than-expected progress in critical areas, including smart meter deployment and system strengthening projects. A parliamentary panel recently flagged delays in implementation and emphasised the need for accelerated efforts to modernise the distribution sector. Against this backdrop, RMC's recent project wins highlight its ability to contribute effectively to the scheme's objectives of reducing losses, improving reliability, and promoting efficiency across India's power grid.

Commenting on the achievement, Mr. Ankit Agrawal, Whole-time Director and CEO of RMC Switchgears Limited, said: "These new orders not only enhance our presence in Rajasthan's power distribution segment but also reaffirm our execution capabilities under large-scale government-led reforms. With RDSS placing strong emphasis on loss reduction and reliability of supply, we are wellpositioned to deliver smart, efficient, and future-ready infrastructure for utilities."

Shares of RMC Switchgears Ltd was last trading in BSE at Rs. 699.40 as compared to the previous close of Rs. 732.05. The total number of shares traded during the day was 44375 in over 261 trades.

The stock hit an intraday high of Rs. 738.00 and intraday low of 690.50. The net turnover during the day was Rs. 31303750.00.

Source : Equity Bulls

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