Quarterly & Annual Financial Results
Exicom Delivers Strongest Quarter of FY26 with Revenue Growth and EBITDA Breakeven
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Exicom Tele-Systems Limited reported its strongest quarter of FY26 driven by strong EV charging demand, export growth, Tritium commercial traction, and improved operational execution. Consolidated EBITDA turned breakeven for the first time since the Tritium acquisition.
PRICE-SENSITIVE TRIGGER
Event: Q4 FY26 and FY26 audited financial result announcement
Type: Quarterly & Annual Financial Results
Impact: Positive
Immediate Effect: The company reported strong standalone revenue growth, improving margins, record EV charging deployments, and operational improvement in the Tritium business.
Key Metrics:
- Standalone FY26 Revenue: ₹895 crore (+19% YoY)
- Consolidated FY26 Revenue: ₹1,152 crore (+33% YoY)
- Standalone EBITDA FY26: ₹70 crore
- Standalone PAT FY26: ₹14 crore
- Q4 FY26 Standalone Revenue: ₹282 crore vs ₹213 crore YoY
- Q4 FY26 Standalone EBITDA: ₹30 crore vs ₹12 crore YoY
- Q4 FY26 Standalone PAT: ₹12 crore vs ₹5 crore YoY
- Consolidated FY26 EBITDA Loss: ₹103 crore
- Consolidated FY26 PAT Loss: ₹274 crore
Highlight Metric:
- Consolidated EBITDA turned breakeven in Q4 FY26 for the first time since the Tritium acquisition.
What Happened ?
Exicom Tele-Systems Limited announced strong Q4 FY26 and FY26 results led by robust growth in its EV charging business, export momentum, and improving contribution from Tritium.
The company stated that standalone operations delivered improved profitability throughout FY26, with Q4 standalone EBITDA margin rising to 10.6%, the highest of the fiscal year.
Consolidated business performance improved materially as Tritium achieved its strongest commercial quarter under Exicom ownership. Tritium generated USD 9.7 million revenue in the quarter, up 157% QoQ, with a backlog of USD 12.6 million entering Q1 FY27.
Exicom also highlighted significant growth in EV charging deployments, exports, AI-enabled charger management systems, and manufacturing expansion at its Hyderabad facility.
Key Details
EV Charging Business Highlights:
- Exicom delivered one of India’s largest EV fast-charging deployments across 180+ cities and 350+ locations.
- The company commissioned AI-enabled upgrades for its Remote Management System and Network Operations Centre (NOC).
- EV export revenue crossed approximately ₹30 crore, more than doubling YoY.
- Exicom commissioned 10 Battery Energy Storage System (BESS) projects during FY26.
Tritium Business Performance:
- Tritium reported USD 9.7 million quarterly revenue, up 157% QoQ.
- The company secured orders from one of the largest US fleet operators.
- GRID-FLEX platform pilots with hyperscalers could potentially unlock additional revenue opportunities from 2027 onward.
- Management stated Tritium remains on track for EBITDA breakeven in Q4 FY27.
Manufacturing Expansion:
- Exicom inaugurated its integrated Hyderabad manufacturing plant in March 2026.
- The facility involved investment of approximately ₹216 crore.
- Manufacturing capacity expanded by nearly 2.5x.
- The plant supports advanced automation and localized production of Tritium’s liquid-cooled power modules.
Critical Power Segment:
- Telecom infrastructure demand remained soft during FY26.
- The company secured a landmark DC power systems order from a major Indian telecom operator for FY27 delivery.
- Exports reached record quarterly levels across Africa, Middle East, and Southeast Asia.
Note:
- Despite operational improvement, consolidated profitability remained impacted by Tritium integration and losses, though management indicated the business trajectory has improved significantly entering FY27.
Risk Analysis
Key Risks:
- Consolidated PAT remains negative.
- Tritium business is yet to achieve full profitability.
- Commodity prices and geopolitical disruptions may pressure margins.
- Telecom capex softness may continue in the critical power business.
- EV charging infrastructure demand may remain dependent on policy support and adoption trends.
Worst Case Scenario:
- If global EV demand slows or Tritium commercialization weakens, consolidated losses may continue for longer than expected and delay profitability targets.
Risk Level: Medium
Company Commentary
- CEO & Managing Director Anant Nahata stated that FY26 reflected strong operational execution and improving business contribution from both India and Tritium operations.
- Management said the company entered FY27 with stronger capacity, better customer traction, and healthier demand visibility.
- Exicom reiterated confidence in navigating geopolitical, commodity, and supply chain uncertainties while scaling global EV charging operations.
Official Exchange Filing: Exicom Tele-Systems Limited