Financial Performance Summary

Standalone Results (₹ crore):

| Metric | Q1 FY27 | Q4 FY26 | Q1 FY26 | YoY Change | QoQ Change |

| Revenue | 236.8 | 282.1 | 150.7 | +57.1% | -16.1% |

| EBITDA | 20.9 | 29.9 | 8.8 | +137.5% | -30.1% |

| EBITDA % | 8.8% | 10.6% | 5.8% | +300 bps | -180 bps |

| PAT | 4.9 | 11.9 | (7.7) | Profit vs Loss | -58.8% |

Consolidated Results (₹ crore):

| Metric | Q1 FY27 | Q4 FY26 | Q1 FY26 | YoY Change | QoQ Change |

| Revenue | 331.0 | 387.9 | 205.3 | +61.2% | -14.7% |

| EBITDA | (21.9) | 0.27 | (38.6) | Loss Narrowed | - |

| EBITDA % | (6.6%) | 0.1% | (18.8%) | +1220 bps | -670 bps |

| PAT | (73.5) | (54.3) | (83.1) | Loss Narrowed | -35.4% |

Segment Performance Highlights

EV Charging Business:

  • India EV business grew revenue 15% year-on-year
  • AC charging recorded 35% YoY growth in Q1 FY27
  • Became sole supplier of 7.4 kW units to a leading carmaker
  • Secured orders for over 180 DC chargers with Bus/Truck OEMs and Charging Network operators till October 2026
  • Brought on fifteen new charge point operators
  • Renewed long-term partnership with a leading e-trucking company
  • Expanded global footprint with orders from ten new countries
  • Working towards doubling AC line capacity starting Q3

Product Developments:

  • Launched AI-chatbot SpinWise and new generation Spin Control app with public charger discoverability, real-time tracking and seamless support
  • Introduced Slim DC chargers (sub-100 kW) for dense commercial spaces with Ring Topology for inter-charger power sharing
  • Undertook extensive product development for European markets with custom-built and certified AC and DC chargers

Tritium Performance:

  • Revenue of USD 10.3 million
  • 508 charger sales in the quarter
  • Booked USD 20.8 million in orders, roughly double the previous quarter
  • TRI-FLEX high power charging system under lab validation with largest open public charging network in the US
  • First GRID-FLEX system started operation at hyperscale customer in June 2026
  • On track for EBITDA breakeven in Q4 FY27

Critical Power Business:

  • Revenue grew 80% year on year
  • Driven by 5G site expansion by leading telcos and Bharat Net Phase 3 (Exicom holds over 60% wallet share)
  • Battery Energy Storage Systems (BESS) portfolio added 14 customers and close to ₹20 crore bookings in Q1
  • Solutions range up to 300 kWh for home and C&I segment
  • Export markets contributed 8% of revenues from Africa and Middle East

Market Context

  • India's EV market crossed 80,000 electric four-wheeler sales for the first time in the quarter
  • Market expansion provides larger base for home charging and public networks

Margin Analysis

  • Consolidated gross margin declined to 31.7% against 39.4% a year ago
  • Attributed to external cost environment including exchange rate volatility and input cost pressures from key component prices
  • Company addressing through building resilience into supply chain

Management Commentary

Anant Nahata, Managing Director and CEO, stated: "Against the same quarter last year this is a stronger business. The Q1 revenue trajectory materialised as planned, however, cost pressure took more out of margins than what we anticipated. Looking at FY27, we are excited to see the EV market expand beyond its current shape and form. I am confident about the year ahead, and that confidence comes from where both our businesses now sit, with more customers, more geographies, a deeper order book, and commitments that deliver through FY27."

Forward Outlook

  • Expect BESS business to scale in FY27
  • Tritium expected to achieve meaningful scale from Q2 FY27 onwards
  • Tritium on track for EBITDA breakeven in Q4 FY27
  • AC charging capacity doubling planned starting Q3

Business Presence

  • Footprint spans India, Southeast Asia, Middle East, US, Europe
  • Over 200,000 chargers sold worldwide