RBM Infracon Ltd. – Company Report
1. Company Overview
RBM Infracon Ltd., incorporated in 2002 and headquartered in Vadodara, Gujarat, is a prominent Indian engineering and infrastructure company with a strong presence in construction, EPC, plant maintenance, shutdown/turnaround services, and manpower deployment. The company serves major industrial sectors such as oil & gas, petrochemicals, fertilizers, cement, and power—both within India and in international markets. With ISO 9001 certification, RBM Infracon is known for vertical integration, rapid project delivery, and extensive in-house capabilities, operating through four project and manufacturing units and employing between 1,000–5,000 people.
Key Highlights
- Incorporated: 2002
- Headquarters: Vadodara, Gujarat, India
- Employees: 1,001–5,000+
- Certifications: ISO 9001
- Business Segments: EPC, mechanical/structural/piping works, maintenance, shutdowns, manpower
- Listed: NSE, BSE
- Market Cap (Aug 2025): ₹460–785 crore
- Client Base: Major Indian refineries, petrochemical companies, power plants, and fertilizer producers
- Key Strengths: High-value EPC capability, extensive shutdown/turnaround execution, aggressive reinvestment strategy (no dividends)
2. Products and Services
- EPC (Engineering, Procurement, Construction): Turnkey execution of mechanical, rotary/static equipment, structural fabrication, and plant pipeline systems
- Annual Maintenance & Turnaround Services: Contract-based maintenance and emergency shutdowns for energy and process plants
- Fabrication & Erection: Carbon steel, stainless steel, and alloy piping, tank fabrication, and steel structures
- Specialized Finishing Services: Blasting, insulation, refractory lining, and protective painting
- Electrical & Instrumentation: Testing, commissioning, and maintenance of industrial power and control systems
- High-Spec Project Services: Catalyst loading/unloading, conveyor installation, NDT radiology, and green hydrogen fabrication
- Manpower & Site Logistics: Skilled labor sourcing, heavy machinery rentals, project supervision, and material handling
RBM Infracon’s growing sectoral reach includes green hydrogen, clean energy infrastructure, and large-scale industrial EPC, with an expanding order book and long-term project commitments.
3. Recent News and Business Developments
May 28, 2025: LOI from Epitome Industries for a ₹957.61 crore EPC contract (Phase I: by Mar 2025; Phase II: by Oct 2025)
September 6, 2024: Awarded a ONGC EPC contract worth ₹3,498 crore for Nandej crude oil field (15-year delivery span)
January 1, 2024: Bagged a ₹81.75 crore project from BN Agritech Ltd. (execution by Jan 2025)
October 4, 2024: MoU with Greenzo Energy to explore ₹200 crore green hydrogen facility with a total capacity of 15MW at two locations in Gujarat i.e., Jamnagar and Kutch
Multiple contracts in FY2025, including:
September 18, 2024: Secured a ₹1.31 crore piping order from for Train-1 (5 GW) at the PV Manufacturing Complex in Reliance Jamnagar.
September 25, 2024: Awarded a ₹11 crore from Nayara Energy fot LPG & hydrogen sphere installation order (execution by Sept 2027)
October 30, 2024: Received a ₹3.81 crore from Reliance Industries for mechanical works (Dec 2024 completion)
November 21, 2024: Bagged a ₹19.55 crore across three civil contracts from Tiwari Construction
November 12, 2024: Received a ₹3.71 crore contract from Caroa Properties LLP.
January 22, 2025: Secured an ₹7.06 crore service order from Mundra Petrochem Limited for piping spool fabrication at an open yard for the Green PVC project.
February 3, 2025: Awarded a ₹14.66 crore mechanical order from Reliance (C2 OSBL area, completion Aug 2025).
May 22, 2025: Secured a ₹6.49 crore from Chambal Fertilisers and Chemicals Limited for execution of Mechanical Jobs related to “Installation of new 2000TR VAM and filter house with cooling coil for Gas Turbine-2” project.
August 5, 2025: Received a ₹8.95 crore order with Nayara Energy for Fabrication & Erection of Piping & Structural work.
October 16, 2025: Awarded a ₹32.06 crore for Miscellaneous Works Comprising piping and structure for Lupech Project at IOCL Gujarat Refinery Vadodara.
These contracts highlight RBM’s growing footprint in renewables, hydrogen energy, and large-scale infrastructure projects.
4. Financial Performance (FY2025)
| Metric | FY2025 Value |
|---|---|
| Revenue | ₹323 crore |
| Net Profit (PAT) | ₹29.47 crore |
| Operating Profit | ₹44 crore |
| Operating Margin | 13% |
| Basic EPS | ₹29.17 |
| ROE | 24.9% |
| Dividend | No payout; profits reinvested |