Gurugram-based Exicom Tele-Systems Limited reported consolidated revenue of ₹205.3 crore for the first quarter of FY26, with an EBITDA margin of –18.8% and an adjusted net loss of ₹71.1 crore. On a standalone basis, the company posted an adjusted net profit of ₹1.1 crore.
The company entered Q2 FY26 with an order book exceeding ₹1,500 crore. Management attributed the Q1 performance to project delays but expects revenue improvement from the second quarter, supported by Bharat Net deliveries and rising EV charger demand.
In its EVSE business, Exicom’s Harmony Direct 2.0 DC fast charger saw adoption from five of the top eight EV customers in India. The company delivered over 15,000 home chargers under the Spin Air brand and signed its first framework agreement in Southeast Asia, valued at about USD 6 million over two years.
Tritium, Exicom’s strategic investment, deployed over 700 chargers across the US, Europe, and Australia–New Zealand since January 2025, and is in discussions for large-scale EV charging projects. The Tri-Flex DC fast charger secured new customers, with first deployment planned in the UK later this year.
The critical power segment posted lower-than-expected revenue due to delays in the Bharat Net project and certain battery deliveries, now scheduled for Q2. The segment recorded significant wins in the Middle East and Africa, and is targeting its highest-ever international revenue this year.
Exicom said its Hyderabad manufacturing plant is on track to begin operations in October 2025. Management reaffirmed its growth outlook for FY26, citing strong EV market momentum, new product rollouts, and project execution in critical power.
Exicom operates across India, Southeast Asia, Middle East, US, and Europe, with over 150,000 chargers installed globally. The company recently completed a rights issue with shareholder support.