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Swing Capital

RMC Switchgears Ltd

NSE: RMC BSE: 540358Energy

Incorporated in 1994, RMC Switchgears Ltd is in the business of Switchgear Engineering, ECI contracts for power distribution/ transmission sector[1]

₹415
52W: ₹300 — ₹897
PE 10.8 · Book ₹120 · +246% vs book
Market Cap₹439 Cr
Stock P/E10.8Price to Earnings
ROCE37.2%Return on Capital
ROE37.5%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 149% CAGR over last 5 years
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 34.2%
  • +Company's median sales growth is 30.0% of last 10 years

Weaknesses

  • −Company has high debtors of 170 days.

Shareholding Pattern

Promoters51.97%
FIIs2.69%
DIIs0.39%
Public44.96%
CategoryMar 2024Sep 2024Dec 2024Mar 2025Sep 2025Dec 2025Mar 2026Apr 2026
Promoters52.93%52.93%52.18%▼0.852.07%▼0.152.07%52.09%▲0.051.97%▼0.151.97%
FIIs2.69%3.38%▲0.73.88%▲0.55.05%▲1.24.83%▼0.22.7%▼2.12.69%▼0.02.69%
DIIs0.83%0.91%▲0.10.88%▼0.00.8%▼0.11.01%▲0.20.39%▼0.60.39%0.39%
Public43.55%42.77%▼0.843.06%▲0.342.08%▼1.042.08%44.82%▲2.744.96%▲0.144.96%

Financial Statements

MetricMar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales23182458678785105212195
Expenses1915214455677185179162
Operating Profit43314122014203333
OPM %18%17%11%24%18%23%16%19%16%17%
Net Profit1006687102119
EPS ₹0.920.520.116.755.447.836.639.9420.0518.46

AI Insights

Revenue Trend

TTM revenue at ₹406Cr, up 28.5% YoY. OPM at 16%.

Debt Position

Borrowings at ₹75Cr. Debt-to-equity ratio: 0.65x. Moderate leverage.

Capex Cycle

CWIP at ₹4Cr (13% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.39% (+0.39pp change). FIIs: 2.69% (+2.69pp change). Promoters hold 51.97%.

Margin & Efficiency

ROCE improving from 13% (Mar 2014) to 37% (Mar 2025). Working capital days: 75.

Valuation

PE 10.8x with 37.2% ROCE. Price is 246% above book value of ₹120. Dividend yield: 0%.

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