ANNUAL REPORT 2025-26

+91 141 4400222 www.rmcindia.in admin@rmcindia.in Date: 26.08.2026 To To Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Mumbai - 400001 Bandra Kurla Complex Bandra (E), Mumbai - 400 051 Scrip Code: 540358 Symbol: RMC Subject: Annual Report of the Company for the financial year 2025-26 Dear Sir/ Madam, We hereby inform you that in compliance with the provisions of the Companies Act, 2013, read with the rules made thereunder and Regulation 34(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) and applicable circulars issued by the Ministry of Corporate Affairs (MCA), as amended, from time to time, we hereby enclosing the Annual Report, along with the Notice of 32nd Annual General Meeting of the Company for the financial year 2025-26, which is being sent through electronic mode to those Members, whose e‐mail address(es) are registered with the Company/ Depository Participants (“DPs”). Further, in compliance with the requirements of Regulation 36(1)(b) of the Listing Regulations, a letter being sent to those Members, who have not registered their e-mail address(es) with the Company/ DPs, providing the web‐link, including the exact path, from where the Annual Report for the financial year 2025-26 can be accessed on the Company’s website i.e. www.rmcindia.in In compliance with the requirements of Regulation 46 of Listing Regulations, the said Annual Report will also be made available on the website of the Company at www.rmcindia.in You are kindly requested to take the same on record. Thanking You For and on behalf of RMC Switchgears Limited Shivani Bairathi Compliance Officer & Company Secretary ACS-42636 Enclosed: as above CIN : L25111RJ1994PLC008698 Corp. Office : B-11 (B&C), Malviya Industrial Area, Jaipur-302017 (Rajasthan) Regd. Office & Factory : Khasra No. 163, 164, Village-Badodiya, Tehsil-Kotkhawada, District- Jaipur,Rajasthan-303908 DEEPER INTO CHOOSING HARDER PROBLEMS, AND SOLVING THE GRID THEM WHERE THEY SIT ANNUAL REPORT FY2026 WWW.RMCINDIA.IN Contents Corporate Information Corporate review BOARD OF DIRECTORS REGISTERED OFFICE Mr. Ashok Kumar Agarwal, Khasra No.163, 164, Village Badodiya, 03 Corporate Information Chairman & Managing Director Tehsil Kotkhawda, District Jaipur - 303908 04 Theme Note Rajasthan, India Mr. Ankit Agrawal, 06 About RMC Switchgears Limited Whole-time Director & Chief Executive Officer CORPORATE OFFICE 10 Performance Benchmarks Mrs. Neha Agarwal, B-11 (B &C), Malviya Nagar Industrial Area, Whole-time Director & Chief Financial Officer Jaipur -302017, Rajasthan, India 12 Message from the Chairman & Managing Director 14 Message from the Whole-time Mr. Akhilesh Kumar Jain, STATUTORY AUDITORS Director & Chief Executive Officer Director M/s. Rakesh Ashok & Company 16 Manufacturing & Technology Chartered Accountants Mr. Kuldeep Kumar Gupta, 18 Marketplace Independent Director SECRETARIAL AUDITORS Mrs. Krati Agarwal, V. M. & Associates, Independent Director Company Secretaries 22 Business Model Mr. Shriram Vishwasrao Mane, 26 Board of Directors Independent Director INTERNAL AUDITOR DLS & Associates LLP, Chartered Accountants 28 Story One: Twelve Meters, One Box Late. Kuljit Singh Popli, FRN: 018881C/C400023 32 Story Two : The Blind Node Independent Director (18th April 2025) 36 Story Three: Responsible by Design BANKERS: CS Manisha Godara, 40 Management Bandwidth Independent Director (w.e.f. 2nd March 2026) Punjab National Bank The Federal Bank Limited 42 Management Discussion & Analysis Small Industries Development Bank of India KEY MANAGERIAL PERSONNEL Mr. Ashok Kumar Agarwal, CORPORATE IDENTIFICATION NUMBER Chairman & Managing Director L25111RJ1994PLC008698 Mr. Ankit Agrawal, Whole-Time Director & Chief Executive Officer LISTED AT: As of 31st March 2026: BSE Limited, SME Platform Statutory reports Mrs. Neha Agarwal, (Scrip Code 540358) Whole-time Director & Chief Financial Officer With effect from 1st April 2026: BSE Limited, Main Board 56 Director’s Report and Its Annexure (w.e.f. 4th July 2025) (Scrip Code 540358) and National Stock Exchange of India Limited, Main Board (Symbol RMC) Mr. Anand Chaturvedi, Financial Statements Chief Financial Officer ANNUAL GENERAL MEETING (till 16th April 2025) 84 Standalone Accounts 32nd Annual General Meeting 128 Consolidated Accounts Mrs. Shivani Bairathi, 19th September, 2026 by audio visual means Company Secretary & Compliance Officer 174 Notice (w.e.f. 23rd June 2025) WEBSITE www.rmcindia.in REGISTRAR & SHARE TRANSFER AGENT pulsebox.rmcindia.in MUFG Intime India Private Limited C-101, 247 Park , Lal Bahadur Shastri Marg, Vikhroli (West) Forward-Looking Statements Disclaimer Mumbai – 400083, Maharashtra Tel : +91 810 811 6767 This Annual Report contains certain forward-looking statements concerning our company’s future business prospects and business profitability, which are subject to a number Email : rnt.helpdesk@in.mpms.mufg.com of risks and uncertainties. Forward-looking statements may be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” https://in.mpms.mufg.com “anticipate,” “project,” “believe,” “continue,” or their negatives or other variations, or by discussions of strategy that involve risks and uncertainties. These statements are based on current expectations, projections, and assumptions and are inherently subject to risks, uncertainties, and assumptions. Actual results could differ materially from those projected in the forward-looking statements due to numerous factors, including, among others, changes in the economic and business conditions in India and other countries, changes in the sectors in which our company operates, fluctuations in the equity markets, and regulatory or political developments in India or elsewhere. Readers are cautioned not to place undue reliance on these forward-looking statements and are advised to consider the risks and uncertainties that could cause actual results to differ from those anticipated by the forward-looking statements. Neither the company nor any of its representatives shall have any liability whatsoever for any loss arising from any use of this Annual Report or its contents due to any forward-looking statements. Corporate Review Statutory Reports Financial Statements Deeper Into the Grid RMC Switchgears Limited Annual Report 2025-26 rmcindia.in Theme Note India's grid has been measured. The Revamped Distribution Sector Scheme, with an outlay of `3.03 lakh crore, put smart meters on consumers and on distribution transformers. Utilities can now see their energy. Deeper Into the Grid Choosing Harder Problems, and Solving Them Where They Sit The last node in the power We went there. chain is the one nobody Deeper is a direction, not a size. This year we was watching. We went stopped going wider and went further down. We run three verticals rather than four, and we choose there. our work on the quality of the business rather India’s electricity reaches a home than the size of the number. None of that makes through a chain. It is generated, this a smaller company. The business that built carried across transmission lines, RMC continues and we intend to grow it. What has stepped down at a distribution narrowed is our attention, not our ambition. transformer, passed through a box at the base of that transformer, and Depth is earned. Certifying a non-conductive delivered to a meter on a wall. enclosure to IS 14772, type-testing it at the Central Power Research Institute, moulding it at volume, Four of those five points are now and holding two decades of standing with the measured. India has installed 5.62 utilities who must install it cannot be bought in. We crore smart meters, and a utility can have been at this layer since 1994, making the part see energy enterin [Showing first 8,000 characters — download PDF for full document]