TCM Limited has informed the Bombay Stock Exchange about the cancellation of a major solar photovoltaic installation project worth Rs 7,92,07,425 from CIAL Infrastructures Limited. The announcement was made on 30th April 2026 under Regulation 30 of SEBI's listing requirements.

Contract Details and Scope

The cancelled work order was originally awarded on 17th September 2025 for a comprehensive solar PV project at CIAL Nayathode site. The project scope encompassed design, installation, testing and commissioning of solar PV ground mounted installations with partial departmental supply of components including solar PV modules, inverters, and CSS.

Termination Details

CIAL Infrastructures Limited served the termination notice on 28th April 2026, which was received by TCM on 30th April 2026. The cancellation was attributed to circumstances beyond CIAL's control, which had been communicated through various review meetings prior to the termination.

The termination letter referenced work order number CIL/FIN/WO/2025-26/16 dated 9th September 2025 and requested TCM to submit details of work executed till date within 15 days for final settlement processing.

Settlement and Financial Impact

As per the termination terms, TCM is required to provide comprehensive documentation including:

• Details of work executed till date
• Measurements and records
• Drawings and supporting documents

The settlement process will be governed by contractual provisions, with performance and security deposits to be released according to contract terms. Any eligible payments and adjustment or recovery of dues will be processed as per the original contract conditions.

Revenue Impact

The contract cancellation will have a direct impact on TCM's financial performance, as the company stated that the turnover of Rs 7,92,07,425 excluding GST will not be reflected in their billings. This represents a significant revenue loss for the company, particularly given the substantial value of the cancelled project.

The cancellation follows TCM's original corporate announcement dated 17th September 2025 regarding the receipt of this solar PV installation project, highlighting the volatility in project-based business operations.

TCM Limited has filed its quarterly confirmation certificate with the Bombay Stock Exchange (BSE) for the quarter ending 31st March 2026, demonstrating compliance with SEBI regulatory requirements for securities handling and dematerialization processes.

Regulatory Compliance Filing

The company submitted the Confirmation Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 on 17th April 2026. Company Secretary Gokul V Shenoy signed the submission letter, which was addressed to BSE with reference to the company's script code 524156.

RTA Confirmation Process

The confirmation certificate was issued by Cameo Corporate Services Limited, serving as TCM Limited's Registrar and Transfer Agent (RTA). Cameo Corporate Services confirmed that securities received from depository participants for dematerialization during Q4FY26 were properly processed and confirmed to the depositories.

The RTA's certificate, dated 6th April 2026, verified that all dematerialized securities were appropriately listed on stock exchanges where the company's previously issued securities are traded. The confirmation also stated that security certificates received for dematerialisation were mutilated and cancelled after proper verification by the Depository Participant.

Depository Compliance Verification

Cameo Corporate Services confirmed that the names of depositories were substituted in the Register of Members as registered owners within the mandated 15-day period. This process ensures proper maintenance of shareholder records and compliance with depository regulations.

The submission reflects TCM Limited's ongoing commitment to regulatory compliance and proper securities administration through its established RTA partnership with Cameo Corporate Services Limited.