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.

TCM Limited , a company with a rich history dating back to 1943, has announced a significant development in its renewable energy business. The company has secured a substantial work order worth ₹79.20 crore (excluding GST) from CIAL Infrastructures Limited, a subsidiary of Cochin International Airport Limited.

Project Details

The project involves the re-installation of a 7.5 MWp ground-mounted solar PV installation at the CIAL-Nayathode site in Ernakulam. The scope of work is divided into two parts:

1. Part A: Reinstallation, testing, and commissioning of a 1.8 MWp ground-mounted solar PV installation using 325Wp modules.
2. Part B: Dismantling, reinstallation, testing, and commissioning of a 5.7 MWp ground-mounted solar PV installation with 270Wp modules.

Scope of Work

The contract encompasses a comprehensive range of services, including:

• Design, installation, testing, and commissioning of the solar PV installations
• Supply of the balance of system components required for project completion
• Partial supply of components such as solar PV modules, inverters, and CSS by the client

Project Timeline and Terms

TCM Limited is expected to complete the project within four months from the commencement date. The contract includes several key terms:

• A one-year defect liability period from the date of handing over the PV plant
• Requirement for the contractor to obtain Contractor's All Risk (CAR) insurance coverage
• The work commencement date is set as the 15th day after the Engineer-in-Charge issues written orders or from the date of site handover, whichever is later

Financial Impact

This order represents a significant boost to TCM Limited's order book. The contract value of ₹79.20 crore (excluding GST) underscores the company's growing presence in the renewable energy sector and its ability to secure large-scale projects.

Corporate Governance

In compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, TCM Limited has promptly disclosed this material development to its shareholders. The company has confirmed that this contract does not fall under related party transactions, and neither the promoter nor the promoter group has any interest in CIAL Infrastructures Limited.

This new contract aligns with India's push towards renewable energy and showcases TCM Limited's capabilities in executing complex solar projects. As the country continues to invest in clean energy infrastructure, companies like TCM Limited are well-positioned to contribute to and benefit from this growing sector.