Exicom Tele-Systems Limited, one of India’s leading EV charging and critical power solutions providers, has announced an impressive performance for the second quarter of FY26, fuelled by robust domestic growth and operational discipline. The company reported consolidated revenues of approximately ₹282 crore, marking an 84% year-on-year (YoY) and 37% quarter-on-quarter (QoQ) increase.
While consolidated EBITDA remained under pressure with a loss of ₹32.7 crore — around 15% lower QoQ — Exicom’s standalone business showed a strong turnaround with significant gains in both revenue and profitability. Standalone revenues reached ₹228 crore, up by over 50% sequentially and YoY, supported by enhanced technology differentiation, strong customer engagement, and favourable market conditions. The company’s standalone EBITDA surged to ₹15.17 crore, representing a 72% QoQ and 154% YoY increase.
Critical Power Segment Rebounds on Bharat Net Demand
Exicom’s Critical Power division delivered a robust performance with consolidated revenues of approximately ₹170 crore during Q2 FY26. The growth was driven by renewed project momentum following the monsoon season, as the company deployed smart power and energy storage systems across over 5,000 Bharat Net sites.
Exicom also acquired a new system integrator under the Bharat Net program through a multi-year supply and AMC contract, reinforcing its pivotal role in India’s rural broadband connectivity infrastructure. Demand for lithium-ion batteries continued to accelerate, with the company securing ₹60 crore worth of new energy storage orders. Additionally, Exicom successfully completed first-time shipments to key customers in Africa, introducing newly developed solutions expected to generate repeat business in the upcoming quarters.
EV Charging Business Gains Momentum
Exicom’s EV Charging (EVSE) business saw continued growth amid rising electric vehicle adoption. With nearly 51,000 four-wheel EVs sold this quarter and strong traction in e-buses and e-trucks, the company capitalised on expanding fast-charging infrastructure investments from Charge Point Operators (CPOs) and OEMs.
The company achieved its highest-ever AC charger sales, with over 20,000 units sold through OEM and e-commerce channels. Exicom also announced a new partnership with a leading EV manufacturer to develop its 180 kW Harmony Direct 2.0 fast-charging product and full-station integration solution.
In addition, the company expanded its international footprint with new strategic channel partnerships in Southeast Asia and the Middle East, laying the foundation for stronger export performance in the coming quarters.
With the upcoming 11,000 e-bus tender under the PM e-Drive scheme and renewed policy momentum for e-trucking, Exicom is well-positioned to lead India’s transition toward heavy-duty EV charging. As an early mover in this segment, Exicom is already a market leader in e-bus charging and is now extending its expertise to e-truck networks through partnerships with major OEMs and on-route charging infrastructure providers.
Leadership Commentary
Commenting on the company’s strong quarter, Anant Nahata, Managing Director and CEO of Exicom, stated:
“This performance reflects our clarity and consistent execution. Both our businesses have found their rhythm again, translating technology depth and customer focus into stronger sales. With a sharper product mix, higher exports, the new Hyderabad facility, and continued cost discipline, we expect sustained improvement in standalone EBITDA in the coming quarters.”
Tritium Acquisition and Global Expansion Plans
Since acquiring Tritium in August 2024, Exicom has successfully revived sales momentum and customer sentiment for the subsidiary. While consolidated EBITDA remains impacted by fixed costs, this is expected to improve as Tri Flex and DC Flex products are commercialised in Q4 FY26 and Q2 FY27, respectively. Strategic partners and network operators across the U.S. and Europe expect these innovations to generate large orders.
To support Tritium’s next phase of expansion, Exicom BV’s board has approved up to $40 million in external financing through equity and convertible securities. The proceeds will be allocated toward product commercialisation, working capital, and fixed cost coverage, driving Tritium toward steady-state revenue and EBITDA break-even by Q4 FY27.
Outlook and Revised Guidance
With visible resurgence in EV sales and Bharat Net execution—two major growth levers for Exicom—the company anticipates stronger performance in Q3 and Q4 FY26. However, due to delayed macro tailwinds, Exicom has revised its full-year guidance to reflect a more conservative outlook:
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Standalone revenue growth: ~20% (earlier 50%)
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Standalone EBITDA growth: ~200% (earlier 250%)
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Consolidated revenue growth: ~35%
Financial Summary (Unaudited, Q2 FY26)
| Particulars | Standalone Q2 FY26 | Q1 FY26 | Q2 FY25 | Consolidated Q2 FY26 | Q1 FY26 | Q2 FY25 |
|---|---|---|---|---|---|---|
| Revenue (₹ Cr) | 228.38 | 150.66 | 148.65 | 281.73 | 205.32 | 153.37 |
| EBITDA (₹ Cr) | 15.17 | 8.80 | 5.97 | -32.70 | -38.58 | -14.59 |
| EBITDA % | 6.6% | 5.8% | 4.0% | -11.6% | -18.8% | -9.5% |
| PAT (₹ Cr) | 5.92 | -7.75 | 4.53 | -68.81 | -83.14 | -17.03 |
Conclusion
Exicom’s strong Q2 FY26 results reflect resilient business fundamentals, renewed demand across its key segments, and strategic progress on global expansion. With disciplined cost management, growing exports, and new product launches, Exicom is positioning itself as a dominant player in EV charging and critical power solutions, both in India and globally.
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