7,000 per cent multibagger returns & Rs 700 crore order book: Smart Meter & Solar stock hit upper circuit as it sees over 165% YoY growth in Q1 sales for FY26

RMC Switchgears is a key player in electrical infrastructure, known for manufacturing smart meter enclosures that deter theft and improve safety, actively supporting Indian utilities under schemes like RDSS with comprehensive manufacturing, installation, and O&M services. The company is also aiming to participate in the Rs 9 trillion transmission sector investments through its EPC model, while simultaneously expanding into renewable energy. This includes solar EPC, green energy projects, and IPP solutions, further bolstered by a proposed 1 GW solar module manufacturing plant, reinforcing its commitment to India's clean energy goals and local manufacturing initiatives.

RMC Switchgears Limited announced a remarkable start to fiscal year 2025–26, reporting unaudited Q1 sales of Rs 86.14 crore, a substantial year-on-year growth of over 165 per cent compared to Rs 34.04 crore in the same period of FY 2024–25. This robust topline performance sets a strong foundation for the company, and management is optimistic about sustaining this growth trajectory and achieving further milestones in the remaining quarters of FY 2025–26.

The company's revenue recognition typically accelerates in the second half of the financial year, particularly for its EPC and turnkey projects. Historically, RMC's H2 performance has nearly doubled that of H1 due to faster execution cycles, milestone-based billings, and back-ended order conversions. RMC anticipates a similar trend this year, supported by a strong order book exceeding Rs 700 crore and a robust execution pipeline across its key verticals: solar EPC, electrical infrastructure, and smart metering solutions.

Commenting on the development, Mr. Ankit Agrawal, CEO & Whole-Time Director, said: “Achieving over 165% growth in Q1 is a strong testament to RMC’s execution excellence and strategic focus, while also highlighting the vast opportunities emerging from India’s dynamic business environment— propelled by infrastructure expansion, progressive policy reforms, and a rapidly growing renewable energy sector.” With a healthy order book well exceeding ₹700 crore, across solar EPC, electrical infrastructure and smart metering, and with deeper backwards integration underway, we are exceptionally well-positioned to convert this momentum into record full-year revenues and profits.”

On Friday, shares of RMC Switchgears Ltd hit a 5 per cent upper circuit to Rs 771.75 per share from its previous closing of Rs 735 per share. The company has a market cap of Rs 812.41 crore with order book exceeding Rs 700 crore. The shares of the company have an ROE of 31 per cent and an ROCE of 32 per cent. The stock is up by 49 per cent from its 52-week low of Rs 379.05 per share and gave multibagger returns of over 7,000 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.