Exicom Recalibrates Growth Trajectory on the Back of a Strong Q2; Doubles Down on EV Growth in India, Board Approves Tritium Divestment

• Standalone EVSE revenue crosses ₹100 crore for the first time; EBITDA % nearing double digits
• Board approves Tritium divestment; Exicom retains perpetual licence to TRI-FLEX technology

NEW DELHI, Nov. 4, 2026 /PRNewswire/ -- Exicom Tele-Systems Limited (BSE: 544133) (NSE: EXICOM), one of India's leading EV charging and critical power companies, today announced its financial results for the second quarter of FY27. Exicom's consolidated revenue (a function of Exports and Tritium business) grew steadily to ~₹388 crore, up 38% sequentially. Consolidated EBITDA also turned positive this quarter at ~2 crore, from a loss of ₹32.7 crore in the previous year same quarter. PAT losses also narrowed down to ₹57.8 crore from ₹68.8 crore a year ago.

The standalone business, Exicom's India engine, continued its steady climb. Revenues grew 21.3% YoY to ~₹277 crore, while EBITDA rose 69% YoY to ₹25.6 crore. Continuous rigor towards tapping new market segments, portfolio augmentation along with operational and financial discipline has enabled Exicom to chart a solid growth path in the Indian market, especially in the EV segment where the company clocked its first ever ₹100 Crore quarter. Set against the rapid rise of e-mobility in India, this momentum places Exicom at the centre of a significant growth opportunity.

With the above context, alongside the results, Exicom's Board also approved the divestment of Tritium, Exicom's global DC fast-charging arm.

EV Charging: Doubling down on a growing opportunity

With oil markets' volatility amid West Asia conflict, electric mobility has become as much a question of energy security as of economics. This is the most important tailwind for EV sector growth in India. As evident in the numbers, EV sales are at a tipping point. 1.9 Lakh EV's were sold in India between April to September 2026, up 59% from the last 6 months. In addition to this, a whole new segment of e-buses and trucks is ripe for non-linear growth on the back of continued government support. Exicom estimates that this market traction will scale annual charging demand significantly to up to 130K AC chargers, 25K DC chargers and nearly 6K high power DC chargers for the e-bus/truck segment.*^[1] 

Exicom is credited as one of the very first Indian EV charging companies with the largest indigenous manufacturing capability amongst its peers. Deeply trusted in the market, Exicom already works with 7 of India's top 10 EV makers, 17 of the top 20 charging operators and 9 of 18 e-bus and truck makers, placing it very favourably to capture a large share of this demand.

The current quarter provides a very meaningful preview into Exicom's growth potential in the Indian EV market. Exicom crossed ₹100 crores in EV revenue in this quarter for the very first time with the company producing 2.5x AC and 2x DC chargers this quarter, followed by new wins across market segments.

Additionally, exports gained new footholds. Building on FY26's market trials, Exicom entered 10 new countries and onboarded 10 new distribution partners. True to its engineering-first approach, Exicom also strengthened the software layer for its EV chargers, extending AI-based remote monitoring to Spin Air AC chargers and introducing an AI-enabled service agent.

Tritium: Strategic objectives delivered, capital to be redeployed

Exicom acquired Tritium to access global EV charging technology and international markets. Under Exicom's ownership, Tritium has been on a steady upward trajectory, marked by the commercialisation of its new products and entry into new markets, and today holds its highest order book since the acquisition with a clear path to profitability. The business, however, remains capital intensive. Weighing the capital allocation, with the opportunities for aggressive growth in Exicom's core markets in India and other export markets, Exicom has taken a calculated decision to divest the Tritium business. The company also shared that it has approved a non-binding term sheet from a prospective acquirer at an indicative enterprise valuation of USD 85 million for the Tritium business on a cash free and debt free basis, subject to confirmatory due diligence, customary closing adjustments and mutual agreement on the definitive transaction documents.

This move puts the company in the driving seat for a much stronger financial performance. This also re-opens the path for the company to be debt-free in the very near future.

"We remain convinced of Tritium's potential to be a leading power electronics solutions provider to EV charging, Industrial and Data Centre segments," said Anant Nahata, CEO and Managing Director, Exicom. "The Tritium acquisition has given us access to global markets, and its liquid-cooled power modules are now made at our Hyderabad plant. Those gains stay with us. Together with our established customer base, manufacturing scale, a strong R&D team and a proven product portfolio, we are well placed to win in India and export markets. This decision lets us put our full financial muscle behind that opportunity. We are doubling down on EV charging, and we are doing it from a position of strength."

Critical Power: Positioned for a renewed infrastructure cycle

Telecom power demand is entering a new growth phase. 5G expansion and large PSU projects provide continued headroom for tower infrastructure upgrades through 2030. With significant share of business in leading telcos, tower cos and govt. projects via SI's, Exicom continues to expand its addressable market and pipeline. This quarter the business secured a large order of ~5K DC power systems with a tier 1 telecom operator along with strong future visibility. The company also expanded its share in the uncovered villages connectivity program while continuing to lead with ~50% market share in in hybrid power and battery solutions for BharatNet's mid-mile network. Continuing its focus on driving exports, the Critical Power business added new customers in Africa and the Middle East this quarter. In energy storage, Exicom signed long-term agreements with distributors across home and C&I segments, positioning itself for a market where C&I installations are projected to grow from under 1 GWh in 2025 to as much as 31 GWh by 2032.

"Q2 shows what Exicom can deliver when its India engine sets the pace." Anant Nahata added. "Energy markets remain volatile and we are watching cost pressures closely, but the demand we are building for, across EV charging, digital connectivity and energy storage, is structural. We enter the second half of this year with focus and clear visibility."

Financials (₹ Crore)

About Exicom

Exicom is one of India's leading EV charging and Critical Power solutions manufacturer, present across the entire EV charger value chain with a host of products across both AC & DC charger segments and is spearheading India's transition to sustainable transportation while ensuring the smooth functioning of critical infrastructure. With a wealth of expertise across its divisions, Exicom's critical power solutions serve as the backbone of communication networks, delivering uninterrupted power supplies crucial for telecom infrastructure. With a footprint spanning India, Southeast Asia, Middle East, US, Europe and over 200,000 chargers sold worldwide, Exicom is at the forefront of shaping the global EV charging landscape.

"Certain statements in this release may be forward-looking statements within the meaning of applicable securities laws and regulations. Actual results may differ materially from those expressed or implied depending upon economic conditions, government policies and other incidental factors"

^[1] Sources – VAHAN; Exicom analysis with CAGR extrapolation for e 4w sales, with reasonable assumptions on AC portable, wallbox and DC per vehicle