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.

TCM Limited , a diversified company operating in trading, manufacturing, and real estate sectors, has reported a significant increase in its standalone net loss for the first quarter. The company also announced a strategic acquisition and other corporate updates.

Financial Performance

TCM Limited's standalone financial results for Q1 revealed:

• Net loss increased to ₹147.88 lakhs, compared to ₹44.25 lakhs in the same quarter last year
• Revenue from operations declined to ₹304.87 lakhs from ₹507.11 lakhs year-over-year
• Consolidated net loss stood at ₹235.26 lakhs

The company's performance was impacted across its business segments:

Strategic Acquisition

TCM Limited has entered into a binding agreement to acquire 100% shareholding in Better Feeds Private Limited for ₹765.00 lakhs. The company has already paid an advance of ₹100.00 lakhs towards this acquisition. This strategic move is expected to expand TCM's business portfolio, although specific details about Better Feeds Private Limited's operations were not disclosed.

Corporate Updates

The Board of Directors has approved several key decisions:

1. Scheduled the 81st Annual General Meeting for September 27
2. Approved the appointment of JKM Associates as secretarial auditors for five years from April 2025 to March 2030, subject to shareholder approval
3. Approved the Directors Report, Corporate Governance Report, and the Secretarial Audit Report for the previous Financial Year
4. Approved the closure of Share Transfer Register and Register of Shareholders

Segment Performance

TCM Limited operates in four main segments: Trading, Manufacturing, Educational, and Real Estate. The Real Estate segment showed positive results with ₹386.30 lakhs, while other segments reported losses. The Educational segment, likely represented by the subsidiary iSpark Learning Solutions Private Limited, contributed ₹12.88 lakhs to the revenue.

Outlook

Despite the increased losses, TCM Limited's strategic acquisition of Better Feeds Private Limited signals the company's efforts to diversify and strengthen its business portfolio. The impact of this acquisition on the company's future performance remains to be seen.

Investors and stakeholders will be watching closely to see how TCM Limited navigates the challenges in its existing segments while integrating the new acquisition in the coming quarters.