RMC Switchgears lands ₹23.63 cr solar pump order from MAHAVITRAN
The 5-year contract under PM KUSUM adds ~5.9% to FY26 revenue and diversifies into solar, providing long-term visibility.
— 5 earlier stories on RMC Switchgears Ltd. →What's new
- RMC Switchgears wins order worth ₹23.63 cr from MAHAVITRAN.
- Contract covers design, supply, installation of solar water pumps across Maharashtra.
- Order includes 5-year warranty and remote monitoring.
Why this matters
For a nano-cap with a market cap of ~₹350 cr, a government contract of this scale from a reputed state utility is a material win. It diversifies revenue into solar energy and provides long-term earnings visibility, especially after a 27% profit decline in FY26.
What we're watching
- Execution over 5 years, margins will be tested.
- Whether this opens more state utility orders.
- Impact on FY27 earnings given recent profit decline.
The full read
RMC Switchgears has added a ₹23.63 cr solar pump order from MAHAVITRAN, equivalent to about 5.9% of its FY26 revenue. The five-year contract under PM KUSUM diversifies the company into solar energy and provides long-term revenue visibility. This is a material win for a nano-cap with a market cap of ~₹350 cr, especially after reporting a 27% profit decline in FY26 despite revenue growth. The order includes remote monitoring and a five-year warranty, indicating a full-service contract. The next test is execution – margins on such government orders are typically thin. But for a company that recently cut its addressable market estimate for its Pulse Box product, this government contract offers a concrete near-term earnings anchor.
Questions answered
- How significant is this order relative to RMC's revenue?
- The ₹23.63 cr order represents roughly 5.9% of RMC's FY26 revenue of ₹401.59 crore, making it a highly material addition.
- Which government schemes does this order fall under?
- The award is part of the 'Magel Tyala Saur Krushi Pump' Yojana and the central PM KUSUM B scheme.
- What does the contract include?
- It covers design, manufacture, supply, transport, installation, and commissioning of off-grid DC solar photovoltaic water pumping systems of 3 HP, 5 HP, and 7.5 HP capacities, plus a five-year warranty with remote monitoring.
- How has RMC's recent financial performance been?
- RMC's FY26 revenue grew 26% to ₹401.59 crore, but consolidated net profit fell 27% due to margin pressure.
- Why is this order significant for a nano-cap company?
- A government contract from a reputed state utility like MAHAVITRAN provides long-term visibility and diversifies RMC's revenue into solar, a growth segment.
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All notes on RMC →- 8 Jul 2026 · 1:37 PM IST RMC Switchgears lands ₹23.63 cr solar pump order from MAHAVITRAN
- 24d ago RMC Switchgears grew revenue 26% but profit fell 27% in FY26
- 28d ago RMC cuts its Pulse Box market size by 64% and extends order book timelines
- 41d ago RMC Switchgears grew revenue 26% but profit fell 27% in FY26
- 41d ago RMC Switchgears' profit fell 27% even as revenue grew 26%.