What were RMC Switchgears' full-year FY25-26 results?

Revenue grew 26% to ₹401.59 crore, but net profit fell over 27% to ₹22.42 crore.

Why did profit fall if revenue grew?

The filing does not specify, but the result indicates costs grew faster than sales. The Q4 contraction in both lines suggests the problem intensified late in the year.

What does the Q4 contraction signal?

It signals operational headwinds or margin pressures that worsened in the final quarter, rather than being a one-off event.

Are there any non-financial developments?

The filing includes standard approvals for reappointing internal and cost auditors for the next financial year.

Earnings · Electric Equipment · Micro cap

RMC Switchgears' profit fell 27% even as revenue grew 26%.

Annual net profit dropped to ₹22.42 crore as the company's final quarter saw revenue and earnings shrink together.

— 4 earlier stories on RMC Switchgears Ltd. →

RMC By Tipsheet Editorial 29 May 2026 · 8:06 PM IST Verify on BSE · NSE

Mkt cap₹331 cr

P/E14.83×

ROE29.40%

Debt / eq.0.55

27% drop Year-on-year net profit decline.

What's new

Annual revenue for FY25-26 grew 26% to ₹401.59 crore.
Net profit for the year fell over 27% to ₹22.42 crore.
The fourth quarter saw contraction in both revenue and profit.

Why this matters

The gap is widening. Top-line expansion of this magnitude is supposed to scale earnings, not shrink them. For a nano-cap, this disconnect forces a hard look at whether the company is buying growth at the expense of margins.

What we're watching

The company's explanation for the profit contraction.
Whether Q4's contraction is a one-quarter blip or a trend.
The specific cost pressures driving the margin compression.

The full read

RMC Switchgears grew revenue by 26% to ₹401.59 crore in FY25-26. Profit fell 27%. This is a nano-cap scaling up, but the earnings are going the wrong way. The final quarter sealed the story: both revenue and profit contracted. Hardly a blip. The numbers suggest the cost of growth is accelerating, not stabilising. That turns a strong sales year into a governance question. For a company this size, the answer matters less than the trend. And the trend is down.

Questions answered

What were RMC Switchgears' full-year FY25-26 results?: Revenue grew 26% to ₹401.59 crore, but net profit fell over 27% to ₹22.42 crore.
Why did profit fall if revenue grew?: The filing does not specify, but the result indicates costs grew faster than sales. The Q4 contraction in both lines suggests the problem intensified late in the year.
What does the Q4 contraction signal?: It signals operational headwinds or margin pressures that worsened in the final quarter, rather than being a one-off event.
Are there any non-financial developments?: The filing includes standard approvals for reappointing internal and cost auditors for the next financial year.

Mentioned: RMC Switchgears Ltd. · ₹401.59 crore revenue · ₹22.42 crore net profit

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

RMC Switchgears Ltd.

Engineering & Capital Goods

₹317 cr

P/E 20.05×

Latest quarter · Mar 2026

Sales₹143 cr

Net profit₹9 cr

Op. margin+12.3%

EPS₹8.76

Strength & growth

Debt / equity0.55×

Current ratio1.52×

Sales CAGR+31.2%

Story so far

All notes on RMC →

29 May 2026 · 8:06 PM IST RMC Switchgears' profit fell 27% even as revenue grew 26%.
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