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RMC Switchgears Reports 110 Percent YoY Growth in Sales in H1 FY26, Solar EPC Performance Shines

RMC Switchgears has reported a 110 percent year-on-year surge in sales to INR 221 crore in H1 FY26, driven by strong growth in its solar EPC segment and supported by steady contributions from electrical EPC and product divisions.

October 08, 2025. By Mrinmoy Dey

Jaipur-based RMC Switchgears has reported a 110 percent YoY growth in sales in H1 FY26 with the company’s unaudited sales figure touching INR 221 crore in H1 FY26 compared with INR 105 crore in the corresponding period of FY25.

This robust growth was primarily driven by strong traction in the solar EPC segment, which contributed approximately INR 114 crore to the top line, followed by electrical EPC and electrical products, which contributed INR 57 crore and INR 50 crore, respectively, the company said in a statement.

It further added that the strong momentum in the solar EPC business further reinforces the strategic importance of the company's upcoming 1 GW solar module manufacturing plant, which will provide a reliable and cost-efficient supply base. “Once operational, the plant is expected to enhance project execution capabilities and improve the overall margin profile,” it said.

Commenting on the development, Ankit Agrawal, CEO and Whole-Time Director of RMC Switchgears, said, “RMC’s first-half performance reflects disciplined execution across our core segments and improved traction from the solar EPC segment. We have deepened our engineering capabilities, strengthened project planning, and optimised project turnaround times, which together are enhancing delivery reliability for our customers. As these operational improvements compound, we are building stronger references and a more defensible market position. This will support quality order inflow and sustained growth while we remain focused on prudent capital allocation and governance.”

The performance reflects progress across the company's core business segments and provides a firmer base for execution in the second half. As of September 30, 2025, the company has a projects/orders/LOAs pipeline of INR 825 crore to execute across the next ~12 months.

During the second quarter of FY26, the company also completed its proof of concept (POC) for its Pulse Box, an intelligent low-tension power distribution system designed to enhance grid safety, deter electricity theft and help reduce technical losses. The Pulse Box forms part of RMC's smart distribution roadmap. Further deployment of this innovative solution will hinge on utility acceptance and approvals, field performance and commercial arrangements.

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RMC Switchgears

RMC Switchgears H1 FY26 performance

RMC Switchgears solar EPC segment

Ankit Agrawal

Pulse box