RMC Switchgears Secures ₹23.63 Crore Letter of Award from MAHAVITRAN for Solar Pumping Systems
RMC Switchgears Limited has secured a significant Letter of Award (LOA) valued at ₹ 23,63,74,211 from MAHAVITRAN - Maharashtra State Electricity Distribution Co. Ltd. This contract involves the design, manufacture, supply, transport, installation, testing, and commissioning of Off-Grid DC Solar Voltaic water Pumping Systems (SPWPS) for farmer sites in Maharashtra.The order is part of the 'Magel Tyala Saur Krushi Pump' Yojna/ PM KUSUM B SCHEME. The contract covers 3 HP, 5 HP, and 7.5 HP capacity systems, including comprehensive system warranty and repair and maintenance services as well as a Remote Monitoring System (RMS) for five years.
The receipt of this LOA is expected to positively contribute to RMC Switchgears' revenue and growth prospects, strengthening the Company’s order book. The contract awarded by MAHAVITRAN- Maharashtra State Electricity Distribution Co. Ltd. is categorized as an Empanelment and Rate Contract, with a committed execution period of five years.
Key details of the contracted business are summarized below:
| Particular | Details |
|---|---|
| Awarding Entity | MAHAVITRAN - Maharashtra State Electricity Distribution Co. Ltd. |
| Contract Value | ₹ 23,63,74,211 (Twenty Three Crores Sixty Three Lacs Seventy Four Thousand Two Hundred Eleven Rupees) |
| Scope of Work | Design, manufacture, Supply, Transport, Installation, Testing and Commissioning of Off-Grid DC Solar Voltaic water Pumping Systems (SPWPS) for farmer sites in Maharashtra. |
| Contract Nature | Empanelment and Rate Contract |
| Execution Period | 5 Years |
The contract details confirm that the awarding entity is a domestic organization, and RMC Switchgears Limited has no interest related to MAHAVITRAN- Maharashtra State Electricity Distribution Co. Ltd., nor will the order fall within related party transactions.
RMC Stock Price Movement
As of 1:49 PM, RMC Switchgears Limited sees its shares slip by 0.37%, dropping ₹1.10 from yesterday's closing price to currently trade at ₹296.5. The stock trades on a volume of 18,857 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.