RMC Switchgears Ltd clinched Letters of Intent (LOI) totaling ₹201 crore (₹2.01 billion) as lead in a consortium for solarizing agricultural feeders in Maharashtra via three EPC + 3-year O&M contracts in Ahmednagar district. This renewable energy win bolsters its order book amid solar expansion push.
Awarded through competitive bidding and e-reverse auction by Maharashtra utilities, the deals cover EPC for solar projects and O&M. Execution aligns with India's renewable targets, enhancing grid stability for farmers.
Key Highlights
-
Value & Scope: ₹201 Cr incl. GST; three contracts for agri-feeder solarization.
-
Strategic Role: Lead member of consortium; targets 1 GWp in renewables.
-
Recent Orders: Complements ₹27.94 Cr FRP fencing LOI, ₹42 Cr substation from RRVPNL.
-
Financial Impact: H1 FY26 sales doubled; pursuing 500+ MWp tenders.
-
Stock Boost: Shares surged post-similar wins; market cap ~₹1,200 Cr.
Outlook
Pivots to green energy amid RDSS, solar boom; 1GW module plant underway. Positive for revenue, margins in FY26.
Sources: SaurEnergy.com, Energetica-India.net, PRNewswire.com