⚡ At a Glance
RBM Infracon Limited has just dropped its Q4 and FY25 results, and at first glance, the numbers look like they were printed in a Diwali bonus dream:
- 💥 Q4 Income up 167% YoY
- 🏗️ Full-year revenue up 148% YoY to ₹32,252 lakhs
- 💸 FY25 PAT up 166% to ₹2,946 lakhs
- 📈 EPS skyrockets from ₹12.80 to ₹27.72
- 🔧 Claims of ONGC project wins, green hydrogen expansion, and a ₹957.6 Cr EPC contract
CMP: ₹458.00 (🔼 +3.94%) as of May 28, 2025
But here’s the EduInvesting problem — RBM Infracon has been one of the most aggressively promoted SME stocks on Twitter in recent months, with finfluencers and “Telegram legends” hyping its “next L&T” narrative. We sniff a potential disconnect between operational fundamentals and narrative pumping.
Let’s break it down.
🏢 About RBM Infracon Limited
| Field | Detail |
|---|---|
| CIN | U24109GJ2013PLC157450 |
| GSTIN | 24AAGCR3448G1ZF |
| Listed on | NSE SME (Symbol: RBEMINFRA) |
| Sector | EPC + Oil & Gas + Green Energy |
| Headquarters | Jamnagar, Gujarat |
| Chairman & MD | Jaybajrang Ramaishish Mani (DIN: 03417579) |
| Incorporated | 2013 |
The company operates in industrial EPC, mechanical works, and now claims forays into green hydrogen and solar via a new subsidiary. But the keyword in that sentence is claims.
📊 Financials: The Numbers Are Loud
📆 Q4 FY25 vs Q4 FY24
| Metric | Q4 FY25 | Q4 FY24 | YoY Growth |
|---|---|---|---|
| Total Income (₹ Lakhs) | 15,354 | 5,744 | 🔼 167.3% |
| EBITDA | 1,909 | 789 | 🔼 142% |
| PAT | 1,287 | 408 | 🔼 215% |
| EPS (₹) | 12.1 | 4.5 | 🔼 169% |
| EBITDA Margin | 12.44% | 13.74% | ⬇ -130 bps |
| PAT Margin | 8.38% | 7.10% | 🔼 +128 bps |
🧾 Full Year FY25 vs FY24
| Metric | FY25 | FY24 | YoY Growth |
|---|---|---|---|
| Operating Income | 32,252 | 12,998 | 🔼 148.1% |
| EBITDA | 4,373 | 1,911 | 🔼 128.9% |
| PAT | 2,946 | 1,109 | 🔼 165.5% |
| EPS (₹) | 27.72 | 12.80 | 🔼 116.5% |
🚧 Project Updates — Or Marketing Bait?
📌 Claimed Wins:
- Took over ONGC’s Nandej Oil Field under a 15-year Production Enhancement Contract
- Executed 1 of 45 planned workover operations
- Signed a ₹957.6 Cr EPC contract with Epitome Industries — supposedly 75% of order book
- Launched RBM Green Energy Pvt Ltd for hydrogen & solar
⚠️ Edu Warning: Multiple red flags here:
- 🔍 No public bidding data for ONGC contract — was it won transparently? Or just leased via subcontracting?
- 🧾 ₹957 Cr contract with Epitome Industries – No details available on this counterparty. Is Epitome even credit-rated or a real infra client?
- 🧪 No clarity on actual green hydrogen plans — no land purchase, plant approvals, or MNRE filings reported.
📈 So Why Is Everyone on Twitter Shouting “Multibagger”?
Because the Q4/FY25 earnings were released just days after weeks of heavy social media ramp-up.
- Telegram groups promised “₹1000 target in 3 months”
- Finfluencers ran videos like: “RBM Infracon = Next L&T?”
- Suspicious surge in retail volumes before results day
When companies release big results after being hyped non-stop, it’s usually not a coincidence. It’s a script.
🔍 EduInvesting Take
✅ Yes, the results look strong on paper.
✅ Yes, PAT and EPS have doubled.
✅ Yes, there’s industrial EPC credibility in Jamnagar, Gujarat.
But…
🚨 Execution proof is missing.
🚨 Regulatory/project transparency is weak.
🚨 Too many sectors, too fast — classic pump template.
🚨 Green Hydrogen subsidiary announced but no actual projects disclosed.
🚨 Promoters have history in related-party setups — not disclosed here, but common in infra SMEs.
🚨 Final Verdict
RBM Infracon’s Q4 FY25 results are flashy — but so are most fireworks just before they disappear.
Until we see:
- ONGC project status on record
- Details of the ₹957 Cr contract in public filings
- Actual capex in hydrogen and solar
- Auditor comments and balance sheet analysis
… this stock remains high risk, high hype, low clarity.
🚫 Be wary of “next L&T” talk on Twitter. That’s usually how “next U-turn” plays begin.
📅 Published: May 29, 2025
✍️ By: Prashant Marathe
Tags: RBM Infracon, Q4 FY25 Results, SME Stock Scam, EPC Contracts, ONGC Field, Green Hydrogen Pump, Infra Stocks India, EduInvesting
