MUMBAI, JANUARY 12, 2024 (AMN): Rulka Electricals Limited (REL), a leading integrated electrical services company, has secured multiple work orders amounting to Rs. 16 crore from renowned companies in different sectors. These new work orders comprise electrical and firefighting projects in various states across India, including Maharashtra, Gujarat, Haryana, Tamil Nadu and Andhra Pradesh.
The Mumbai-based company is also planning to raise capital through an Initial Public Offering (IPO) to fund its growth opportunities in domestic and international markets. It has appointed Beeline Capital Advisors as the Book Running Lead Manager to the issue.
REL offers a wide range of services, including electrical solutions, electrical panels, firefighting systems, solar EPC contracts, turnkey electrical warehousing projects, electric commercial, industrial services, maintenance services, electrical contracting and data & voice cabling installation across the industrial sector, commercial, retail and theatre sector. It also undertakes Electrical & Fire contracting services for all types of industrial plants.
Speaking about the new orders and the company’s growth plans, Mr. Rupesh Laxman Kasavkar, Chairman and Managing Director, Rulka Electricals Limited, said, “We are delighted to begin the new year with a string of new work orders that demonstrate our commitment to quality of our work. We have been successful in retaining most of the clients, reflecting the great reputation we enjoy in the market. Furthermore, we are looking to scale up our business by venturing into different sectors in new markets, both international and domestic. We firmly believe that our experienced team of professionals combined with improved operational efficiency will help us propel into the next phase of our growth journey.”
Incorporated in 2013, REL is promoted by the entrepreneur duo Mr. Rupesh Laxman Kasavkar and Mr. Nitin Indrakumar Aher, both having over two decades of rich experience in the electrical domain. With extensive experience in site supervision and electrical project work, the promoters have been instrumental in shaping the company’s growth strategy.
REL posted a total revenue and profit (PAT) for the first half of the year ended September 30, 2023 at Rs. 36.44 crore and Rs. 3.05 crore. In the financial year 2022-23, the company registered a total income of Rs. 46.89 crore, compared to Rs. 36.27 crore in FY2021-22. The company earned a profit (PAT) of Rs. 2.80 crore FY2022-23, up from Rs. 1.12 crore in FY2021-22.
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