Tandhan Energies books Rs 4.83 crore factory-sale gain

Tandhan Energies Limited booked a Rs 4.83 crore standalone gain on completing the sale of factory land, building and tube well in the quarter ended 30 September 2026. The disposal-led gain formed most of Rs 4.85 crore other income and helped produce Rs 4.13 crore net profit, while revenue from operations was nil.

How did Tandhan Energies calculate the factory-sale gain?

Tandhan Energies calculated a Rs 4.83 crore gain by subtracting Rs 47.63 lakh of directly attributable disposal expenses and the Rs 8.90 lakh carrying amount of the assets from gross consideration of Rs 5.40 crore. The company completed the sale during the quarter ended 30 September 2026 after classifying the factory land, building and tube well as held for sale at 31 March 2026.

The Rs 56.53 lakh difference between gross consideration and the accounting gain consisted of the Rs 47.63 lakh disposal costs and Rs 8.90 lakh book value. Tandhan Energies recognised the gain under other income rather than exceptional items, for which the standalone quarterly statement reported nil. Its six-month cash-flow note reported net disposal proceeds of Rs 4.92 crore after costs, distinguishing the cash measure from the accounting gain.

The asset sale was recorded in the parent company's standalone accounts, which show a single reportable business segment. Tandhan Energies reported nil standalone revenue from operations for the September 2026 quarter, June 2026 quarter and September 2025 quarter. The filing therefore identifies the disposal, rather than sales income, as the principal contributor to standalone income in the latest quarter.

How much cash did Tandhan Energies receive from the sale?

Tandhan Energies received Rs 1.40 crore of the Rs 5.40 crore consideration during the six months ended 30 September 2026, while Rs 4 crore received in earlier periods was adjusted against consideration on completion. The completion of the sale in the September quarter therefore did not mean that the whole gross consideration arrived as fresh cash during the reported half-year.

The six-month cash-flow statement recorded Rs 1.40 crore of proceeds from the sale of property, plant and equipment, Rs 47.63 lakh of disposal costs and Rs 2.88 lakh of interest received. Together with a Rs 15,000 purchase of intangible assets, these items resulted in net investing cash inflow of Rs 95.10 lakh for the six months ended 30 September 2026.

Cash and cash equivalents fell to Rs 1.74 crore at 30 September 2026 from Rs 3.61 crore at 31 March 2026, a decrease of Rs 1.87 crore. Tandhan Energies reported Rs 1.49 crore of net cash used in operating activities and Rs 1.34 crore used in financing activities, including Rs 1 crore refunded as share application money and Rs 33.18 lakh of equity issue expenses.

How did the disposal change Tandhan Energies' quarterly profit?

Tandhan Energies reported standalone profit before tax of Rs 4.79 crore for the quarter ended 30 September 2026, compared with Rs 4,000 in the preceding June quarter and a Rs 66,000 loss before tax in the September 2025 quarter. Other income rose to Rs 4.85 crore from Rs 1.52 lakh in June 2026, while total expenses increased to Rs 6.16 lakh from Rs 1.48 lakh.

After Rs 65.99 lakh of current tax, Tandhan Energies reported net profit of Rs 4.13 crore, compared with Rs 3,000 in the immediately preceding quarter and a Rs 66,000 loss a year earlier. Basic and diluted earnings per share were Rs 1.77 in the September 2026 quarter, versus Rs 0.00 in June 2026 and negative Rs 0.11 in September 2025. Interim earnings per share are not annualised.

For the six months ended 30 September 2026, profit before tax was Rs 4.79 crore against a Rs 5.85 lakh loss in the corresponding prior-year period. Net profit was Rs 4.13 crore after Rs 66 lakh of current tax, compared with a Rs 5.85 lakh loss a year earlier. The Rs 4.83 crore disposal gain exceeded half-year profit before tax because the period also contained employee, finance and other expenses, alongside interest income.

What changed in Tandhan Energies' standalone balance sheet?

Tandhan Energies no longer reported assets classified as held for sale at 30 September 2026, compared with Rs 8.90 lakh at 31 March 2026, consistent with completion of the factory asset disposal. Total standalone assets stood at Rs 177.48 crore at 30 September, down from Rs 178.75 crore at the March 2026 year-end.

Investment in subsidiary remained Rs 173.58 crore at both 30 September 2026 and 31 March 2026, accounting for most of standalone assets. Current assets declined to Rs 3.88 crore from Rs 5.17 crore, reflecting the fall in cash balances, although loans increased to Rs 1.63 crore from Rs 1.01 crore and other current assets rose to Rs 50.21 lakh from Rs 45.59 lakh.

Total equity rose to Rs 177.18 crore from Rs 173.38 crore as other equity increased to Rs 153.86 crore from Rs 150.06 crore. Total liabilities declined to Rs 30.47 lakh from Rs 5.37 crore, with other current liabilities falling to Rs 18.29 lakh from Rs 4.32 crore and share application money pending allotment declining from Rs 1 crore to nil.

What is Tandhan Energies' disclosed next funding event?

Tandhan Energies disclosed a proposed preferential issue of up to 18,90,410 convertible warrants to its promoter group at Rs 153 per warrant, aggregating up to Rs 28.92 crore. Shareholders approved the proposal at the annual general meeting held on 30 September 2026, and the board approved opening a designated bank account for subscription money on 16 October 2026.

As at 14 November 2026, when the board approved the unaudited results, BSE Limited's in-principle approval for the proposed issue remained pending. Tandhan Energies said it had received no subscription monies and had allotted no warrants. The company changed its name from Shah Foods Limited to Tandhan Energies on 28 September 2026 and disclosed energy solutions as its new line of business.

The energy business is carried through wholly owned subsidiary Tandhan Power Technologies Private Limited, control of which was acquired on 27 March 2026. However, Tandhan Energies' parent-level energy-business ledger reported nil net sales, expenditure, profit before tax, tax expense and profit after tax for the quarter and six months ended 30 September 2026.

Conclusion

Tandhan Energies' September-quarter standalone earnings were principally shaped by the completed sale of former factory assets. The Rs 4.83 crore disposal gain was recognised in other income, while nil operating revenue meant the Rs 4.13 crore quarterly net profit did not arise from standalone sales activity. The transaction also removed Rs 8.90 lakh of held-for-sale assets from the balance sheet.

The next disclosed matter to watch is the proposed Rs 28.92 crore promoter-group convertible-warrant issue. BSE's in-principle approval was pending on 14 November 2026, and no subscription money had been received or warrants allotted. The filing also leaves the parent-level energy ledger without revenue through 30 September 2026, despite the new business being conducted through a wholly owned subsidiary.