5,600 per cent returns: This multibagger electrical equipment company has received approval to establish a 50 MW Renewable Energy Park in Rajasthan
The stock gave multibagger returns of 3,070 per cent in 2 years and a whopping 5,600 per cent in 3 years.
RMC Green Energy Pvt Ltd, a subsidiary of RMC Switchgears Limited, has secured approval from the Rajasthan Renewable Energy Corporation to establish a 50 MW Renewable Energy Park in Rajasthan under the Rajasthan Renewable Energy Policy 2023. This milestone further cements the parent company's entry into the Solar Park business, operating as a renewable IPP (Independent Power Producer). RMC is actively pursuing additional tenders exceeding 600 MWp and is engaging with both public and private sector entities to achieve the ambitious goal of securing 1 GWp in EPC contracts over the next 18 months. By collaborating with installation and commissioning experts across multiple states and leveraging their in-house team of skilled designers and supervisors, RMC is positioning itself at the forefront of the green energy revolution.
This strategic initiative not only reinforces RMC Switchgears Limited's role in advancing renewable energy but also contributes significantly to India's climate action commitments under the Paris Agreement. With a dedicated Business Development unit continuously seeking new opportunities, RMC's efforts in the renewable sector are aligned with India's goal of achieving 450 GW of renewable energy capacity by 2030. The Company's expansion into solar projects helps reduce carbon emissions, foster economic growth, and create green jobs, thereby positioning India as a global leader in renewable energy technologies. This initiative underscores RMC's commitment to innovation and sustainability, highlighting its role in helping India meet its environmental targets.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
About the Company
RMC Switchgears, a Jaipur-based power technology company, is transforming India's power infrastructure through innovative solutions that combat electrical theft and prevent electrocution accidents. Specializing in manufacturing, supply, installation, and O&M management, RMC offers customized solutions to utilities and DISCOMs, with over 80% of its services tailored for State PSUs and Private Utilities. Expanding its focus to municipalities, RMC addresses AT&C losses and societal impacts of electrical accidents. Known for its high-value, high-margin solutions, RMC's pre-qualifications and capacity to undertake extensive work make it a leading player in the market. Driven by a mission to innovate and deliver advanced power technology solutions, RMC aims to make a sustainable impact by fostering infrastructure evolution, reducing losses, optimizing resources, and ensuring secure, accessible energy and water for communities across India.
The company has a market cap of Rs 966.82 crore with an ROE of 36 per cent and an ROCE of 35 per cent. On Wednesday, shares of RMC Switchgears Ltd hit a 5 per cent upper circuit to Rs 937.90 per share from its previous closing of Rs 893.25. The stock gave multibagger returns of 3,070 per cent in 2 years and a whopping 5,600 per cent in 3 years. Investors should keep an eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
Also Read: 2:1 stock split & Rs 94,000 crore order book: President of India-backed multibagger defence stock to keep under radar as PAT jumps 76.6 per cent in Q1FY25