Sovrenn Daily News - 17th Mar 2025
RMC Switchgears Ltd.
Recent filing: (ORDER) RMC Switchgears has received an INR 320 Cr LOA from the Government of Rajasthan for a 50 MW rooftop solar project across Jaipur and Dausa. The company will handle the design, supply, erection, and commissioning under the Hybrid Annuity Mode (HAM), ensuring financial sustainability. Company will also manage operation & maintenance (O&M) for 25 years, generating INR 229 Cr in one-time revenue and INR 91 Cr in recurring revenue over the project’s lifecycle.
SUMMARY: 2y Operating Profit uptrend | 1h Operating Profit uptrend | PE 34.8x (Sector PE range 30-50) | Fund Raise | Capacity Expansion | Institutional Entry | Promoter Buying | Ace Investor | RDSS | Telecom | Solar | Power Infra
FUTURE OUTLOOK: As per Q2FY25 Investor Presentation, Company aiming for a growth rate of over 30% CAGR in the upcoming 3-5 years | Company committed to its Vision 2030 of becoming INR 5000 Cr enterprise.
- MCap of INR 592 Crore (share price = INR 575 / share) (as on 17th Mar ‘25)
- TTM PE of 34.8x (as on 17th Mar ‘25) Retail float = 23.7% (6th Dec-24)
FOOD FOR THOUGHT: Highly competitive sector.
Stock price can go down or up based on market forces. Always diversify your portfolio.
Company Description: Incorporated in 1994, RMC Switchgear manufactures and designs enclosures of Energy Meters, LT/HT Distribution Boxes and Panels, Junctions Boxes, Feeder Pillars and Power Distribution and Circuit Protection Switchgears. It also undertakes works of laying energy transmission lines and establishing electric substations, fixing of new meters and shifting of existing meters.
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Kotyark Industries Ltd.
Recent filing: (TENDER CANCELLATION) Kotyark Industries was earlier awarded a 48,381 KL biodiesel supply tender worth INR 564 Cr by OMCs (IOC, HPCL, BPCL) for Oct 2024 – Sept 2025. However, OMCs have now canceled the tender due to internal administrative reasons, impacting the company’s projected revenue. A new tender for biodiesel supply (April–July 2025) has been published on March 13, 2025, with bidding open until March 20, 2025, and the company plans to participate.
SUMMARY: 6y Operating Profit uptrend | 4h Operating Profit uptrend | PE 14.3x (Sector PE range 30-60) | Excellent Sep-24 results | Capacity expansion | Large order | Promoter buying | Fund raise | Biofuels
FUTURE OUTLOOK: As per Q2FY25 Investor Presentation, Company operates two biodiesel manufacturing units in Sirohi, Rajasthan, and Anand, Gujarat, with a combined annual production capacity of 4,80,000 KL for biodiesel and 63,000 KL for crude glycerin and intends to reach optimum capacity utilization in coming 2 years and is gearing up for servicing the growing demand of OMCs for blending biodiesel in diesel.
- MCap of INR 415 Crore (share price = INR 404 / share) (as on 17th Mar ‘25)
- TTM PE of 14.3x (as on 17th Mar ‘25) Retail float = 23.4% (Sep-24)
FOOD FOR THOUGHT: Negative operating cashflow for FY 24.
Stock price can go down or up based on market forces. Always diversify your portfolio.
Company Description: Founded in 2016, Kotyark Industries is in the business of manufacturing Biofuel and serving renewable green energy and sustainable development of renewable natural resources and through the adoption of environmentally friend technology that favours the net reduction of greenhouse gases.
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Teerth Gopicon Ltd.
Recent filing: (ORDER) Company has been awarded an INR 409 Cr (to be completed within 12 months) rooftop solar project under the Hybrid Annuity Mode (HAM) for state government buildings in Rajasthan. The project includes design, supply, erection, testing, commissioning, and 25-year O&M across Bundi (8 MW), Jodhpur (25 MW), Pali (20 MW), and Sirohi (10 MW), totaling 63 MW. The execution cost is INR 294 crore, with INR 115 Cr allocated for 25-year O&M, featuring an annual 3% escalation from the 2nd year onwards.
(ORDER) Company has been awarded a 46.29 MW (to be completed within 9 months, with O&M extending for 25 years from COD) solar project by Jaipur Vidyut Vitran Nigam Limited (JVVNL) under the KUSUM Scheme – Component A. The contract involves design, survey, supply, installation, testing, commissioning, and 25-year O&M of grid-connected solar power plants via RESCO mode, including 11 kV line connections and a remote monitoring system (RMS).
SUMMARY: 4y Operating Profit uptrend | 3h Operating Profit uptrend | PE 20x (Sector PE range 10-50) | Excellent Sep-24 results | Promoter Buying | IPO | Orderbook of INR 1,081 Cr (8th Nov-24) (7.9x of TTM revenue) | Water Infra
FUTURE OUTLOOK: As per Sep-24 Analyst Meet, Company has given a Revenue guidance for FY25 of INR 250-300 Cr (a 2.6x growth) with 13-13.5% PAT margin and a Revenue guidance for FY26 of INR 750-900 Cr with 13.5-14% PAT margin.
- MCap of INR 353 Crore (share price = INR 294 / share) (as on 17th Mar ‘25)
- TTM PE 20x (as on 17th Mar ‘25) Retail float = 22.1% (Sep-24)
FOOD FOR THOUGHT: Highly competitive sector
Stock price can go down or up based on market forces. Always diversify your portfolio.
Company Description: The Company specializes in road construction, sewerage work, and water distribution projects in Madhya Pradesh, and has also subcontracted residential tower construction in Indore. As an EPC contractor, it provides detailed project engineering, procurement of materials and machinery, project execution, and operation and maintenance services.
