This article first appeared on GuruFocus .
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Stand-alone Revenue:INR282 crore, 33% year-on-year growth, 21% sequential growth.
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Critical Power Business Revenue:23% year-on-year growth.
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EVSE Business Revenue:60% year-on-year growth.
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Stand-alone Gross Margin:27%.
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Stand-alone EBITDA:INR29.9 crore, 10.6% margin, 148% year-on-year increase.
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Consolidated Revenue:INR388 crore, 46% year-on-year growth, 40% sequential growth.
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Consolidated EBITDA:Positive at INR30 lakhs.
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Full Year Stand-alone Revenue:INR895 crore, 19% year-on-year growth.
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Full Year Stand-alone EBITDA:INR70 crore, 77% year-on-year increase, margin expanded to 7.8%.
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Full Year Consolidated Revenue:INR1,152 crore, 33% year-on-year growth.
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Consolidated Adjusted PAT:Negative INR258 crore.
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Order Book:INR1,000 crore as of 31 March.
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EV Charger Revenue:INR88 crore in Q4, highest ever quarterly revenue.
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Export Sales in Critical Power:INR30 crore in Q4, 15% of sales.
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Export Sales in EV Charging:INR32 crore for the full year in Southeast Asia.
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Release Date: May 19, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Exicom Tele-Systems Ltd ( NSE:EXICOM ) achieved a significant milestone by turning EBITDA positive on a consolidated basis for the first time since acquiring Tritium.
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The company reported a strong revenue growth of 46% year-on-year on a consolidated basis, with the EVSE business growing 83% year-on-year.
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Exicom's Critical Power business saw a sequential revenue growth of 18% and a year-on-year growth of 23%, driven by strategic projects and a robust order book.
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The newly operational Hyderabad plant enhances production capacity, supporting future growth, particularly in the EVSE segment.
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Exicom's global footprint and strategic partnerships, including a strong presence in the EV charging market, position it well for future expansion and revenue growth.
Negative Points
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The company faced a slight degrowth in the number of new telecom towers installed, impacting the Critical Power business.
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Consolidated EBITDA remains negative for the full year, primarily due to Tritium's fixed cost absorption.
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Exicom's balance sheet shows a temporary buildup in inventory due to the transition between the Hyderabad and Gurugram plants.
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The company is heavily dependent on imports for its BESS segment, facing risks from commodity price fluctuations and exchange rates.
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Despite positive momentum, geopolitical headwinds and supply chain constraints pose challenges to sustaining growth.
Q & A Highlights
Q: With the significant take-off in commercial electric vehicles, what is the current state of ground infrastructure, and what are the requirements? A: Anant Nahata, CEO: Commercial vehicle electrification is gaining momentum, particularly in applications like ports and cement factories where captive infrastructure supports deployments. Intercity commercial electrification is still a few years away, but boundary applications with captive charging infrastructure are growing.
Q: Can you provide more details on the INR850 crore revenue potential from the three new products launching in FY28, particularly the data center inverters? A: Anant Nahata, CEO: The GRID-FLEX inverter from Tritium converts grid power into high-voltage DC power, applicable in DC microgrids, battery energy storage systems, and new-age data centers. A pilot with a hyperscaler could unlock significant revenue in FY28.
Q: What is the strategy for onboarding new clients for the two additional products launching in the European and US markets? A: Anant Nahata, CEO: We have ongoing customer engagements, and these products are nearing pilot production. Successful pilots could lead to long-term contracts with strategic customers involved in the product development.
Q: Do you have any plans or tie-ups with automakers in India to provide EV chargers with their vehicles? A: Anant Nahata, CEO: We are the largest manufacturer of home chargers, and there's a 50% chance an EV car will come with an Exicom charger. We have partnerships with many OEMs for home and fast chargers for dealerships and charging stations.
Q: What are your offerings in the Battery Energy Storage System (BESS) area, and how do you see this segment scaling up? A: Anant Nahata, CEO: Our focus is on commercial and industrial spaces, providing modular battery systems for clean and uninterrupted power. We aim to scale from pilot stage orders to INR50 crore in business this year, with potential growth as local cell manufacturing develops.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
