The Shares of this Micro-cap diversified company surged 17.6% on Thursday’s trade after it received an order worth Rs. 1.26 Crores for a solar power project from Mahindra Holidays and Resorts India.
Stock Action:
TCM Ltd., with a market capitalization of Rs. 38.52 Crores , saw its shares rise to Rs. 54.75, up from its previous close of Rs. Rs. 46.53 per share.
Reason behind the Action:
TCM Limited has received a work order from Mahindra Holidays and Resorts India Limited to install a 300 KWp grid-connected solar power plant at Club Mahindra Resort in Cherai Beach, Kerala, valued at approximately ₹1.26 Crores. The project is to be completed within 60 days of the order date (October 8, 2024).
Key terms include a yearly guaranteed generation of 4 units per KW, a 10-year warranty on solar panels, a 25-year performance warranty, and a 7-year warranty on inverters. Payment consists of 20% upon material delivery, 75% upon project completion with certification, and a remaining 5% retention amount for two years.
Also Read: Stock jumps 19% after it receives order from Medical Education and Research, Mumbai
Financials:
The company reported revenues of Rs. 32.23 Crores in FY 2024, up from Rs. 7.35 Crores in FY 2023, resulting in 338.5% year-on-year growth, and net losses for the same period lowered from Rs. 4.29 Crores to Rs. 2.25 Crores.
Shareholding Pattern:
As of the June quarter, shareholding pattern the company promoters own 49.51% stake, while Foreign institutional investors have no stakes in the company, Domestic institutional investors own 7.44% of the company, and the retail investors hold 43.05% stake in the company.
About the Company:
TCM Ltd. has diversified operations beyond its initial focus on chemical manufacturing. The company is now involved in renewable energy, aquaculture, plantations, food processing, and international trading.
With a global presence in over 52 countries, TCM actively engages in both imports and exports, catering to diverse markets. Backed by a team of over 1,200 professionals, the company continues to focus on these diversified industries, while maintaining a strong position as a credible supplier in its traditional product lines.
Also Read: Stock hits 5% upper circuit after acquiring 14% stake in HAL’s JV
Written By: Arvind jv
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