RMC Switchgears Limited (RMC) has received 12 Letters of Award from Paschim Gujarat Vij Company Limited (PGVCL) under a turnkey assignment, the company said in a regulatory filing. The awards relate to packages for conversion of existing 11 kV high tension and low tension line networks into an underground cable network with a ring main system across parts of Bhavnagar circle. The filing said the scope includes site survey, designing, engineering, procurement, supply, loading, transportation, unloading, insurance, delivery at site, handling, storage, installation, testing, commissioning and documentation. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements regulations.

The contracts include GIS mapping and Geo Urja mapping developed by Gujarat Urja Vikas Nigam Limited (GUVNL) and asset tagging under the SI scheme. Several packages specify differing execution periods with most carrying commencement lead times of 45 days followed by execution windows of 12 to 18 months. All orders have been awarded by a domestic utility and are turnkey in nature.

The aggregate consideration for the 12 Letters of Award is Rs 3,337.970307 mn, equivalent to Rs 3.3379700307 bn, reflecting Rs 333.7970307 crore. The company indicated that the receipt of these awards strengthens its order book and is expected to contribute positively to revenue and growth prospects. RMC said the promoters have no interest in the awarding entity and the transactions are not related party dealings. Package wise values and execution timelines are set out in annexures to the disclosure.

The company added that it will update the stock exchanges on any material developments in accordance with regulatory requirements. Annexures to the filing set out package wise values and timelines for each award and provide additional contractual particulars. Compliance and company secretary certifications have been provided as part of the submission. The filing was signed by the compliance officer and company secretary, whose certification and ACS number are included in the document.