RMC Switchgears (RMC) had a P/E of 9.1× on 6 Nov 2026, below the industry P/E of 30.0×, and the shares are 67% below their 52-week high. Its ROCE of 28% is the second-highest among the 7 largest Electrical Equipment & Parts peers, and sales and net profit grew 47% and 24% a year over 3 years. Debt is 0.81× equity. It is a small-cap company with a market cap of ₹185 Cr, ranked 73rd of 97 Electrical Equipment & Parts companies by market cap; the shares fell 55% over the past year.
- ₹181.00
- ₹181.47
- ₹170.00
- ₹181.87
- 72.2K
Health check
- ReturnsBehind
−55.2% over a year, better than 0 of 7 peers.
- Price tagCheaper
P/E 9.1 vs industry 30.0.
- GrowthStrong
Sales +47.3%, profit +23.9% a year over 3 years.
- ProfitabilityStrong
ROCE 27.7% vs peer median 22.1%.
- Balance sheetStretched
Debt 0.81× equity, interest covered 3.8×, Piotroski 2 of 9.
- Red flags3 to check
Quarterly profit down 49.0% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹185 Cr
- Small cap
- P/E
- 9.1
- Industry 30.0
- Price to book
- 1.41
- Peers 7.24
- Dividend yield
- 0.00%
- ROE
- 18.8%
- Peers 18.0%
- ROCE
- 27.7%
- Peers 22.1%
- Debt to equity
- 0.81
- Debt ₹105 Cr
- EPS (TTM)
- ₹19.25
- Face value ₹10
- OPM (TTM)
- 14.1%
- Net margin 5.8%
- Sales growth
- −55.9%
- Latest quarter vs a year ago
- Profit growth
- −49.0%
- Latest quarter vs a year ago
- Price to sales
- 0.52
- EV/EBITDA 6.0
Strengths and risks
Strengths
- Return on equity of 18.8%.
- Return on capital employed of 27.7%.
- P/E of 9.1 against an industry P/E of 30.0.
Risks to check
- Quarterly profit down 49.0% on a year ago.
- Quarterly sales down 55.9% on a year ago.
- 67% below its 52-week high.
About RMC Switchgears
RMC Switchgears Limited engages in the switchgear engineering business in India. The company also manufactures smart-meter enclosures, feeder pillars, distribution and junction boxes, fibre-reinforced plastic safety products, V-cross arms, gratings, cable trays, transformer fencing, electrical panels and bus bars. In addition, it is involved in the turnkey projects: and transmission and distribution infrastructure, substation automation, underground…
- Headquarters
- Jaipur
- Employees
- 281
- Sector
- Industrials
- ISIN
- INE655V01019
- Website
- rmcindia.in
Price range
- Avg volume (3M)
- 53.4K
- 1-year return
- minus 55.2%
- From 52-week high
- minus 67.1%
Peers · Electrical Equipment & Parts
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| POWERINDIAHitachi Energy India | 27,800.00 | minus 1.42% | 1,23,911 | 107.7 | 95.3 | 24.9% | 16.1% | 0.02 | 22.2% | plus 37.9% |
| CGPOWERCG Power and Industrial Solutions | 773.00 | minus 4.43% | 1,21,785 | 88.6 | 72.5 | 19.3% | 13.1% | 0.02 | 21.2% | plus 8.2% |
| POLYCABPolycab India | 7,871.00 | plus 0.28% | 1,18,613 | 37.5 | 29.0 | 30.4% | 13.6% | 0.02 | 26.6% | plus 3.8% |
| HAVELLSHavells India | 1,128.00 | plus 5.61% | 70,789 | 42.6 | 30.0 | 22.1% | 9.1% | 0.02 | 9.9% | minus 28.1% |
| APARINDSApar Industries | 14,106.00 | minus 9.65% | 59,065 | 41.6 | 30.7 | 26.7% | 9.5% | 0.12 | 17.0% | plus 87.2% |
| KEIKEI Industries | 3,988.00 | minus 1.80% | 38,143 | 36.1 | 29.9 | 18.7% | 11.0% | 0.04 | 19.1% | plus 1.8% |
| HONAUTHoneywell Automation India | 30,080.00 | minus 0.79% | 26,613 | 47.0 | 35.7 | 15.7% | 13.8% | 0.02 | 10.9% | minus 17.5% |
| RMCRMC Switchgears | 174.45 | minus 4.08% | 185 | 9.1 | 5.1 | 27.7% | 14.1% | 0.81 | 47.3% | minus 55.2% |
| Median of 7 peers | – | −1.42% | 70,789 | 42.6 | 30.7 | 22.1% | 13.1% | 0.02 | 19.1% | 3.8% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Sep 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 166 | 84.5 | 157 | 143 | 37.2 | |
| – | – | – | minus 13.7% | minus 55.9% | |
| 149 | 75.7 | 131 | 125 | 29.5 | |
| 16.7 | 8.9 | 25.1 | 17.6 | 7.8 | |
| 10.1% | 10.5% | 16.0% | 12.3% | 20.8% | |
| 0.2 | 0.2 | 0.4 | 0.7 | 0.4 | |
| 2.2 | 2.7 | 3.9 | 4 | 4.1 | |
| 0.9 | 0.9 | 0.9 | 1.3 | 1.3 | |
| 13.8 | 5.5 | 20.8 | 12.9 | 2.8 | |
| 28.4% | 25.2% | 25.6% | 28.4% | 25.2% | |
| 9.8 | 4.1 | 15.1 | 9.3 | 2.1 | |
| – | – | – | minus 5.7% | minus 49.0% | |
| 9.53 | 3.86 | – | 8.81 | 1.97 |
Profit & loss
- Sales CAGR 3Y
- +47.3%
- Profit CAGR 3Y
- +23.9%
- EPS CAGR 3Y
- +20.1%
- ROE
- 18.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 125 | 171 | 316 | 399 | |
| – | +37.2% | +84.7% | +26.2% | |
| 97.2 | 140 | 264 | 352 | |
| 27.7 | 31 | 52.3 | 47.2 | |
| 22.2% | 18.1% | 16.5% | 11.8% | |
| −1.1 | 8 | −1 | −1.3 | |
| 5.4 | 6.8 | 6.5 | 10.8 | |
| 2.8 | 2.8 | 3 | 4.5 | |
| −1.5 | −8 | −0.1 | −0.1 | |
| 17 | 21.4 | 41.7 | 30.4 | |
| 30.7% | 30.5% | 26.6% | 26.2% | |
| 11.7 | 14.9 | 30.6 | 22.3 | |
| – | +26.8% | +105.8% | minus 27.2% | |
| 12.20 | 14.44 | 29.58 | 21.14 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 6.9 | 10.3 | 10.6 | 10.6 | |
| 38.8 | 50.1 | 96.6 | 120 | |
| 46.5 | 49.9 | 59 | 105 | |
| 24.4 | 44.9 | 105 | 131 | |
| 117 | 155 | 271 | 367 | |
| 30.1 | 27.6 | 41.7 | 62.8 | |
| 0.5 | 0.1 | 7.8 | 6.7 | |
| – | – | – | 0.1 | |
| 0.2 | 0.4 | 31.7 | 47.3 | |
| 85.9 | 127 | 190 | 250 | |
| 117 | 155 | 271 | 367 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −0.3 | 7.8 | 11.5 | −11.6 | |
| −3.1 | −0.5 | −20.6 | −25.3 | |
| 3.5 | −5.4 | 15.6 | 32.5 | |
| 0.1 | 1.9 | 6.5 | −4.4 | |
| −3.2 | −3.2 | −17 | −22.1 | |
| −3.6 | 4.6 | −5.5 | −33.7 | |
| – | −0.2 | – | – |
Shareholding pattern
NSE hasn’t returned a shareholding pattern for this company.
Major shareholders
Filings & events
News
No recent news coverage found.