RMC Switchgears advances solar manufacturing, secures new order, plans board migration

RMC Switchgears Limited has provided an update on its 1 GW Solar Module Manufacturing Plant in Jaipur, a key initiative representing an investment of ₹100 crore. The operational launch, initially targeted for October 2025, has been revised to Q4 of the current financial year due to unavoidable delays. The company has secured funding through internal accruals and debt from SIDBI and is progressing with key personnel recruitment and capital equipment orders. The plant aims to enhance backward integration for RMC's EPC business and improve pricing competitiveness, with full-scale operations anticipated by FY26.

In parallel, RMC Switchgears secured a letter of intent from Jaipur Vidyut Vitran Nigam Ltd. (JVVNL) for a ₹59.12 crore contract under the Revamped Distribution Sector Scheme (RDSS). This order involves developing distribution infrastructure for segregating 11 KV mixed feeders at Tonk Circle in Rajasthan on a turnkey basis, further solidifying RMC’s expertise in large-scale distribution infrastructure projects.

On the corporate front, RMC confirms its application for migration to the BSE Main Board is fully prepared. The company is awaiting final confirmation from BSE regarding revised eligibility criteria. This migration is deemed a strategic move to enhance market visibility, improve liquidity, and broaden access to institutional investors.