TCM Limited announced its financial results for the third quarter of FY26 ended 31st December 2025, showing revenue decline across both standalone and consolidated operations. The company, engaged in trading, manufacturing, educational services, and real estate development, faced challenging market conditions during the quarter.

Standalone Financial Performance

The company's standalone operations showed mixed results for Q3 FY26. Revenue from operations declined to ₹520.15 lakhs compared to ₹588.79 lakhs in Q3 FY25, representing a significant decrease.

The company reported a net loss of ₹56.21 lakhs for Q3 FY26 compared to ₹52.74 lakhs loss in the corresponding quarter of the previous year. For the nine-month period, the net loss widened significantly to ₹235.39 lakhs from ₹115.67 lakhs in the previous year.

Consolidated Financial Results

On a consolidated basis, which includes subsidiaries iSpark Learning Solutions Private Limited, TCM Healthcare Private Limited, TCM Properties Private Limited, and TCM Solar Private Limited, the performance showed similar trends.

The consolidated net loss for Q3 FY26 was ₹117.64 lakhs compared to ₹90.25 lakhs in Q3 FY25, indicating deteriorating performance across the group.

Segment-wise Performance Analysis

The company operates across four main business segments with varying performance levels during the quarter.

Trading Segment

The trading segment, dealing in solar, healthcare, autocare, and audio products, showed improved revenue of ₹239.97 lakhs in Q3 FY26 compared to ₹106.41 lakhs in Q3 FY25. However, segment results declined to ₹6.34 lakhs from ₹2.24 lakhs.

Manufacturing Operations

The manufacturing segment reported revenue of ₹245.61 lakhs in Q3 FY26 versus ₹272.09 lakhs in Q3 FY25. The segment posted a loss of ₹16.28 lakhs compared to a profit of ₹16.24 lakhs in the previous year quarter.

Real Estate Development

Real estate operations generated revenue of ₹30.25 lakhs in Q3 FY26, significantly lower than ₹210.29 lakhs in Q3 FY25. Despite the revenue decline, segment results remained positive at ₹4.45 lakhs compared to ₹19.82 lakhs in the previous year.

Educational Services

The educational segment, operated through subsidiary iSpark Learning Solutions, reported revenue of ₹52.91 lakhs in Q3 FY26 compared to ₹29.19 lakhs in Q3 FY25. However, the segment continued to post losses of ₹7.69 lakhs.

Strategic Developments

TCM Limited has entered into a binding memorandum of understanding to acquire 100% shareholding in Better Feeds Private Limited for a consideration of ₹765 lakhs. As of 31st December 2025, the company has paid an advance of ₹108.23 lakhs towards this proposed acquisition, subject to due diligence, regulatory approvals, and execution of a definitive Share Purchase Agreement.

The company maintains its paid-up equity share capital at ₹747.79 lakhs with face value of ₹10 per share. The financial results were approved by the Board of Directors in their meeting held on 13th February 2026.

TCM Limited , a diversified company operating in trading, manufacturing, and real estate sectors, has announced its consolidated financial results for the quarter ended September 30, 2025. The company reported a wider net loss despite an increase in revenue, reflecting challenges in its various business segments.

Financial Highlights

TCM Limited's consolidated revenue from operations decreased by 14.21% year-over-year to ₹592.07 lakhs in Q2 FY2026, compared to ₹690.13 lakhs in the same quarter last year. The company's total income, including other income, stood at ₹652.23 lakhs, down 5.88% from ₹692.96 lakhs in Q2 FY2025.

Despite the revenue decline, the company's net loss widened to ₹83.16 lakhs in Q2 FY2026, compared to a loss of ₹63.83 lakhs in the corresponding quarter of the previous year, representing an increase of 30.29% in net loss.

Segment Performance

The company's performance varied across its business segments:

1. Trading: This segment, which includes solar, healthcare, and autocare products, reported revenue of ₹136.41 lakhs but incurred a loss of ₹0.69 lakhs.
2. Manufacturing: The manufacturing segment showed positive results with revenue of ₹262.17 lakhs and a profit of ₹4.84 lakhs.
3. Educational: This segment generated revenue of ₹56.09 lakhs but reported a loss of ₹19.06 lakhs.
4. Real Estate: The real estate segment contributed ₹137.40 lakhs to the revenue and reported a profit of ₹57.96 lakhs.

Balance Sheet Position

As of September 30, 2025, TCM Limited's consolidated total assets stood at ₹8,320.52 lakhs. The company's equity attributable to owners was ₹2,749.03 lakhs, while total liabilities amounted to ₹5,718.37 lakhs.

Recent Developments

TCM Limited has entered into a binding memorandum of understanding to acquire 100% shareholding in Better Feeds Private Limited for a consideration of ₹765 lakhs. The company has already paid an advance of ₹102.56 lakhs towards this proposed acquisition, subject to due diligence, regulatory approvals, and execution of a definitive Share Purchase Agreement.

Outlook

While TCM Limited faces challenges in some of its business segments, the company's diversified portfolio and strategic initiatives, such as the proposed acquisition of Better Feeds Private Limited, may provide opportunities for future growth. However, the widening losses indicate that the company may need to focus on cost management and operational efficiency to improve its financial performance in the coming quarters.

Investors and stakeholders will be watching closely to see how TCM Limited navigates the current market conditions and implements strategies to return to profitability across all its business segments.