RMC Switchgears, Abhishek Integrations And H. G. Infra Engineering Order

RMC Switchgears Ltd.

Recent filing: (ORDER) RMC Switchgears has received a work order worth INR 4.8 Cr from Trade world Exim LLP, for Supply, Installation & Maintenance of solar panel and inverter for 1.35 MWp Plant in Rajasthan. The works is to be completed within 8 months.

SUMMARY: 2y Operating Profit uptrend | PE 41.8x (Sector PE range 30-60) | Capacity Expansion | Institutional Entry | RDSS | Capital Goods

FUTURE OUTLOOK: Management’s ambitious vision is to evolve into INR 5,000 Cr enterprise by 2030 (25th May ‘24)

  • MCap of INR 681 Crore (share price = INR 661 / share) (as on 10th Jul ‘24)
  • TTM PE of 41.8x (as on 10th Jul ‘24) Retail float = 20.9% (Mar-24)

FOOD FOR THOUGHT: Highly competitive sector.

What are the products and services of RMC Switchgears ?

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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Abhishek Integrations Ltd.

Recent filing: (ORDER) Abhishek Integrations has ranked as L1 for the work order worth INR 3 Cr for Operation and maintenance works in Fuel, Material handling, technical services systems.

SUMMARY: 4y Operating Profit uptrend | Excellent Mar-24 results | PE 69.6x (Sector PE range 30-50) | Diversified Commercial Services

  • MCap of INR 53.6 Cr (share price = INR 89/ share) (as on 10th Jul ‘24)
  • TTM PE 69.6x (as on 10th Jul ‘24) Retail float = 19.5% (Mar-24)

FOOD FOR THOUGHT: PE is above sector range.

What are the products and services of Abhishek Integrations?

Abhishek Integrations is engaged in Developing, Operation, and Maintenance of HT & LT Electrical and Mechanical and its installation at Terminal Buildings of Airports, installation and maintenance of Fire Fighting solutions as a system integrator, operation, and maintenance of GLF/Airfield Lighting Systems, Operating and maintaining Baggage Handling systems, Water distributions system, Substation including perimeter light fittings at Airports, LT switchgear at various Reputed Government Departments located pan India.

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H. G. Infra Engineering Ltd.

Recent filing: (ORDER) HG Infra Engineering has entered into a Memorandum of Understanding with Ultra Vibrant Solar Energy Private Limited to acquire the project development activities, which will be done through individual project companies. The total project size is 83.02 MW (AC)/ 116.228 MW (DC), which will be developed by the Company. The total Engineering Procurement Construction (EPC) value for developing these projects is INR 465 Cr.

SUMMARY: 6y Operating Profit uptrend | 2q Operating Profit uptrend | Excellent Mar-24 results | PE 21.0x (Sector PE range 8-25) | Infrastructure

FUTURE OUTLOOK: As per FY24 Con-call, Management has guided for a 15-20% growth in topline | Orderbook INR 12,434 Cr (Mar-24), 2.3x of TTM Revenue

  • MCap of INR 11,084 Crore (share price = INR 1,701 / share) (as on 10th Jul ‘24)
  • TTM PE of 21.0x (as on 10th Jul ‘24) Retail float = 9.0% (Mar-24)

FOOD FOR THOUGHT: Client concentration risk: Road projects from NHAI and ARTL contribute to 87% of orderbook as of Dec-23.

What are the products and services of H. G. Infra Engineering?

With a resilient two-decade journey, HGIEL has emerged as one of India's fastest-growing construction companies. Its dedication to quality and timely execution has been pivotal in establishing it as a trusted leader in the infrastructure industry. It is engaged in the business of EPC and Maintenance of roads, bridges, flyovers, etc.

Also Read: Rulka Electricals Order, Jupiter Wagons Fund Raise And H. G. Infra Engineering MOU