Exicom's First Quarter of Fiscal Year 26 Experiences a Soft Period, but Shows Promise for the Future
Exicom Tele-Systems Limited, a leading player in the Indian telecommunications and power solutions sector, is experiencing a period of growth and consolidation. The company's EV charging business in India is gaining momentum, driven by rising electric vehicle (EV) sales and supportive government policies. Notable product launches, such as the Harmony Direct 2.0 DC fast charger, are finding favour among leading EV customers.
Exicom's EV charging business is not limited to the domestic market. The company has expanded its footprint internationally, particularly in Southeast Asia, where it has signed a significant framework agreement valued at around USD 6 million over two years. This agreement is expected to contribute to the company's topline from Q2 FY26 onwards.
Exicom's Tritium subsidiary is making strides in global DC fast charger deployments, with a focus on the US, Europe, and Australia/New Zealand. While the subsidiary is working on improving its financial performance and reducing cash losses, it is making headway in these key markets.
The company's critical power solutions business continues to be a significant revenue contributor. With a diversified portfolio serving telecom sites and backup battery solutions, the business benefits from Exicom's nearly 30 years of domain expertise in power conversion, energy management, and battery systems. The company's reliance on its top five customers presents a challenge, but Exicom is positioned to capitalise on the expanding EV ecosystem and critical power needs both domestically and internationally.
Financially, Exicom reported consolidated operating losses in FY25, with an EBITDA loss of Rs -38 crore and PAT loss of Rs -109 crore. However, the company showed better standalone results, with an EBITDA of Rs 39 crore and PAT of Rs 21 crore. This reflects ongoing investments and a transition phase, particularly in building up the EV charging business and Tritium's global operations.
Looking ahead, Exicom expects strong tailwinds in the Indian EV charging segment due to increasing EV adoption, festive-season demand, and favourable policies. The company aims to optimise costs and accelerate revenue from global markets, particularly with Tritium's products gaining traction in major EV markets like the UK, US, and ANZ region.
Exicom's upcoming Hyderabad manufacturing plant is on track to start operations by October 2025 and is expected to contribute to the topline from Q2 FY26 onwards. The company's order book exceeded INR 1,500 Crore as it entered Q2 FY26, indicating a strong pipeline of projects.
In summary, Exicom Tele-Systems is in a growth and consolidation phase, with a positive outlook for its EV charging business supported by emerging market opportunities and an expanding international footprint. The critical power business continues to provide stable revenues. Financially, the company is navigating some losses but is taking deliberate steps to build longer-term value and industry leadership.
[Image: Exicom Tele-Systems Limited's new logo] (URL provided for the logo image)
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- Exicom reported a consolidated revenue of INR 205.3 Crore for Q1 FY26.
- Exicom's adjusted PAT on a consolidated basis was INR -71.1 crore for Q1 FY26.
- Exicom delivered over 15,000 chargers of its home charging solution, Spin Air, across geographies.
- Exicom signed its first-ever framework agreement with one of Southeast Asia's largest clean energy players, with an expected deal value of nearly USD 6 million over the next 2 years.
- Exicom's advanced DC fast charger, Harmony Direct 2.0, has built a robust pipeline.
- The news about Exicom Tele-Systems Limited's growth and consolidation is not limited to the Indian market; their EV charging business has expanded internationally, particularly in Southeast Asia.
- The company's EV charging business expansion includes signing a significant framework agreement valued at around USD 6 million over two years.
- Exicom's Tritium subsidiary is focusing on improving its financial performance and reducing cash losses while making headway in key global markets like the US, Europe, and Australia/New Zealand.
- Exicom's financial report for FY25 showed consolidated operating losses, but the company has a strong pipeline of projects, with an order book exceeding INR 1,500 Crore as it entered Q2 FY26.
