Introduction:
Leading electric equipment company has secured a ₹320 crore LOA to install 50 MW rooftop solar systems across Rajasthan’s government buildings. This project supports India’s renewable energy goals, ensuring long-term sustainability through design, execution, and 25-year operational maintenance services.
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Share price movement of RMC Switchgears:
On March 17, 2025, RMC Switchgears Ltd opened at ₹574.65, hitting the 5% upper circuit from its previous close of ₹547.30. The stock remained at ₹574.65 throughout the session, marking a full-day high and low. Its market capitalization stood at ₹592.37 crore.
RMC Switchgears Secures ₹320 Crore LOA for Rooftop Solar Projects in Rajasthan:
RMC Switchgears Ltd. has received a ₹320 crore Letter of Acceptance (LOA) from the Government of Rajasthan to install 50 MW of rooftop solar systems across state government buildings in Jaipur and Dausa. The project will be executed under the Hybrid Annuity Mode (HAM), ensuring long-term financial sustainability.
Under the contract, RMC will manage the design, supply, erection, and commissioning of rooftop solar projects. Additionally, the company will oversee operations and maintenance (O&M) for 25 years post-commissioning. This project will generate a one-time revenue of ₹229 crore and an additional ₹91 crore in recurring O&M revenue over the contract period.
This order strengthens RMC’s role in India’s renewable energy transition, aligning with Rajasthan’s vision to power government buildings with solar energy. By securing this contract, RMC expands its Solar EPC and IPP footprint, reinforcing its presence in India’s evolving clean energy sector.
Stock performance of RMC Switchgears for Period of 1 week, 6 months, and 1 year:
RMC Switchgears Ltd saw a 9.4% decline over the past week, continuing its downward trend with a 40.3% drop in six months. However, the stock has gained 30.8% over the past year, highlighting strong long-term growth potential.
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Shareholding pattern of RMC Switchgears:
| Particulars | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 52% | 52.90% | 52.90% |
| FII | 3.90% | 3% | 2.70% |
| DII | 0.90% | 0.90% | 0.80% |
| Public | 43.10% | 43% | 44% |
About RMC Switchgears:
RMC Switchgears Ltd (BSE: 540358) is a leading provider of electrical infrastructure solutions, specializing in theft-resistant enclosures, smart meter deployment, solar EPC, and water management. It supports India’s power distribution modernization and clean energy transition with advanced technologies.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.
