Exicom Reports Strong Q1 FY27 Results with Revenue Growth; EV Charging and Critical Power Segments Perform Robustly

Exicom Reports Strong Q1 FY27 Results with Revenue Growth; EV Charging and Critical Power Segments Perform Robustly​

Exicom Tele-Systems Limited, a leading provider of EV charging and critical power solutions in India, announced its unaudited financial results for the first quarter of the financial year 2026-27. The company reported significant growth in its standalone revenue and EBITDA across key business segments, although consolidated losses persisted amid margin pressures.

Standalone revenue saw a sharp increase of about 57% year on year, reaching ₹236.8 crore. Furthermore, standalone EBITDA more than doubled, hitting ₹20.9 crore, which translates to an EBITDA margin of 8.8% for the quarter. On a consolidated basis, revenue grew by 61% to ₹331.0 crore. The company's consolidated EBITDA loss narrowed significantly, compared to the previous year.

EV Charging Business Drives Growth and Order Intake​

The EV charging business demonstrated strong movement in Q1 FY27. The company reported a 35% year-on-year growth in AC charging. Exicom became the sole supplier of 7.4 kW units to a prominent carmaker, strengthening its Spin Air AC charging portfolio by introducing the SpinWise AI-chatbot and an updated Spin Control app offering real-time tracking and public charger discoverability. Looking ahead, Exicom plans to double its AC line capacity starting Q3 in anticipation of higher EV maker volumes.

In the realm of public charging, Exicom secured orders for over 180 DC chargers from Bus/Truck OEMs and Charging Network operators through fifteen new charge point partners until October 2026. The company also successfully renewed a long-term partnership with a leading e-trucking firm. Product innovation included the introduction of Slim DC chargers, designed for dense commercial spaces, which feature smart technologies like Ring Topology to maximize efficiencies. Internationally, Exicom expanded its global footprint by securing orders from ten new countries and continuing development efforts for custom AC and DC chargers tailored for specific European markets.

Tritium and Critical Power Segments Record Key Milestones​

The Tritium business reported revenue of USD 10.3 million, with 508 charger sales in the quarter. The order book for Tritium improved substantially during Q1 FY27, booking USD 20.8 million in orders, nearly double the previous quarter's intake. Developments include the TRI-FLEX high power charging system currently undergoing lab validation with a major US public charging network, and the first GRID-FLEX system operational at a hyperscale customer since June 2026. These developments position Tritium for meaningful scale from Q2 FY27 onwards, aiming for EBITDA breakeven in Q4 FY27.

Critical Power revenue grew by 80% year on year. This growth was largely attributed to the expansion of 5G sites by leading telcos and Bharat Net Phase 3, where Exicom commands over a 60% wallet share. The Battery Energy Storage Systems (BESS) portfolio, which caters to home and C&I segments with solutions up to 300 kWh, attracted 14 new customers and generated nearly ₹20 crore in bookings during the quarter. Export markets continued to perform well for Critical Power, contributing 8% of revenues from Africa and the Middle East.

Financial Performance Summary​

Despite strong operational performance across segments, management noted that cost pressures, including exchange rate volatility and input cost increases due to key component prices, affected margins more than anticipated.

The financial performance highlights are summarized in the table below:

Management Commentary​

Anant Nahata, Managing Director and CEO of Exicom, commented on the results, stating that the Q1 revenue trajectory was realized as planned and characterized a stronger business compared to the same quarter last year. He acknowledged that cost pressure drew more from margins than expected but expressed confidence in FY27, driven by the expansion of the EV market, a deep order book, increased customer base, and global geographic presence across both businesses.

EXICOM Stock Price Movement​

Shares of Exicom Tele-Systems Limited are shedding value as of 3:27 PM, declining by 3.22% in live trading to trade at ₹153.81. The stock has traded within a wide range between the daily low of ₹148.10 and the high of ₹161.29, with 3.34 million shares transacted so far today.