Shares of this micro-cap chemical and solar equipment company surged nearly 8% after receiving an EPC contract for a 90 KWp solar power plant project from Mahindra Group for Rs. 37.89 lakhs.
Share price variations:
With a market capitalization of Rs. 45.62 crores, TCM Ltd. rose to an intraday high of Rs. 62.21 representing a 7.74 percent increase from its previous closing price of Rs. 57.74 per share.
Reason for the Rise:
According to exchange filings, TCM Ltd. has received a works order for the design, supply, installation, and commissioning of 90 KWp grid-connected SPV Power Plants at Club Mahindra Resort, Arookutty, Kerala from Mahindra Holidays and Resorts India Limited for Rs. 37.89 lakhs.
Recent Contracts Received:
In October, the company secured a works order from Mahindra Holidays and Resorts India Limited, for the design, supply, installation, and commissioning of a 300 KWp Grid connected to SPV Power Plants at Club Mahindra Resort, Cherai Beach for Rs. 1.26 crores.
Financial Performance:
In Q1 FY25, the company’s net loss widened to Rs. 1.09 crore from Rs. 0.77 crore in Q1 FY24, while revenue from operations declined by 27.57 percent to Rs. 5.28 crore, down from Rs. 7.29 crore during the same period.
About the company:
Incorporated in 1943, TCM Ltd specializes in manufacturing chemicals and trading solar equipment and healthcare devices. The company operates two chemical plants in Mettur and Tuticorin, producing a range of organic and inorganic chemicals, including fungicides, herbicides, barium and strontium salts, strontium nitrate, sodium sulfide, and other derivatives.
Through its subsidiaries, TCM supplies healthcare products under TCM Healthcare and serves the solar energy market via TCM Solar, which has
completed over 250 projects, primarily in southern India. The company also has a presence in the education sector, international trading, and aquaculture.
Written By: Joseph Pv
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