Financial Performance Highlights

Standalone Performance (Q2 FY27):

  • Revenue: ₹277.0 crore, up 21.3% YoY from ₹228.4 crore in Q2 FY26
  • EBITDA: ₹25.6 crore (9.2% of revenue), up 69% YoY
  • PAT: ₹7.8 crore (2.8% of revenue)
  • Segment Performance:
  • Critical Power: Revenue ₹170.8 crore
  • EV Charger: Revenue ₹106.2 crore, up 58.7% YoY

Consolidated Performance (Q2 FY27):

  • Revenue: ₹388.3 crore, up 37.8% YoY from ₹281.7 crore in Q2 FY26
  • EBITDA: ₹1.8 crore (0.5% of revenue), a significant improvement from ₹32.7 crore loss in Q2 FY26
  • PAT Loss: ₹57.8 crore (improved from ₹68.8 crore loss in Q2 FY26)
  • Segment Performance:
  • Critical Power: Revenue ₹174.7 crore
  • EV Charger: Revenue ₹213.7 crore, up 91.3% YoY

H1 FY27 Performance (Consolidated):

  • Revenue: ₹719.4 crore, up 47.7% YoY
  • PAT Loss: ₹130.4 crore (improved from ₹151.9 crore loss in H1 FY26)

Strategic Development: Tritium Divestment

The Board approved the divestment of Tritium business, Exicom's global DC fast-charging subsidiary. Key terms of the transaction:

  • 100% sale of Tritium group
  • Cash-free, debt-free; all-equity buyer; no financing condition
  • Exicom retains MSA for Gen 2 power module manufacturing
  • Exicom retains TRI-FLEX regional license (perpetual license outside Americas)
  • Target closing: end of 2026 (~60 days post countersignature)

Tritium Business Update:

  • Revenue: $31M in 9 months (H1 FY27); +133% YoY in Q2 FY27
  • $23M order backlog at September 2026 (up from $13M in January)
  • Represented 27% of Exicom consolidated revenue in H1 FY27
  • Path to profitability: EBITDA positive targeted for Q1 FY28
  • Requires additional capital over ~12 months for working capital and engineering investments

Business Segment Updates

EV Charging Business:

  • Achieved first-ever ₹100+ crore quarter in EV segment
  • Export revenue growth of 240% in Q2
  • Key wins:
  • 3.3kW portable charger business from 2 leading car OEMs (Potential: ₹13.5 crore, starting Q3)
  • 7.4kW AC wallbox from new car OEM (Potential: ₹15 crore, starting Q4)
  • 3.3kW wallbox from leading SCV OEM (Potential: ₹3 crore, starting Q3)
  • 240kW DC charger from leading operator (Potential: ₹5 crore)
  • DC Charger & EPC business from car OEM and quick commerce company (Potential: ₹5 crore each)
  • Onboarded 13 new CPO customers (Potential: ₹15 crore)

Critical Power Business:

  • Benefiting from 5G network expansion doubling power requirements per site
  • Serving 1 out of 2 Telcos with 70% share of business
  • Serving 1 out of 3 TowerCos with ~30% share of business for both power systems and Li-ion batteries

Order Book and Pipeline

  • Strong order book and advance pipeline of 1600Cr+ providing good visibility into FY28 revenue
  • Confirmed Service revenue business visibility FY29-FY38: ₹426 crore (largely driven from PSU related projects)
  • Large projects in open order book: ₹883 crore over FY27-29

Key Projects:

  • BharatNet Phase 3: 160K sites total, Exicom 77k (48%)
  • FY27: 18k sites (₹235 crore), FY28: 35k sites (₹478 crore), FY29: 10k sites (₹136 crore)
  • 4G saturation, Phase 2: 5,179 sites total, Exicom 673 (13%)
  • 550 to be delivered H2 FY27 (₹35 crore), 750 more in advanced pipeline (₹57 crore)

Export Strategy

  • Export revenues growing with concerted efforts
  • Overall export for Q2 is 15.6% of revenue
  • Target to achieve 3X growth over FY27 in export markets
  • Certified for major markets (CE Europe, UL USA/Canada, SASO Saudi Arabia, SIRIM Malaysia, ADQCC UAE)

BESS Business Opportunity

  • Goal for FY28: ₹150 crore business ambition
  • Customer mix shifted from PSU to private:
  • Direct PSU: from almost 50% to <5%
  • Telcos and TowerCos: from 1/3rd to ~1/2
  • System integrators: from negligible to 1/4th of business

Balance Sheet Position (as of September 30, 2026)

  • Net Worth: ₹944.5 crore
  • Total Borrowings: ₹345.6 crore
  • Net Debt: ₹326.8 crore (decreased by ₹2.5 crore in H1 FY27)
  • Total Assets: ₹1,693.1 crore
  • Net Working Capital: ₹414.7 crore
  • Cash & Cash Equivalents: ₹18.7 crore

Capital Expenditure

  • Capex of over ₹200 crore in new manufacturing plant in March'26
  • High depreciation cost impacting PAT in FY27 due to new plant

Management Commentary

CEO Anant Nahata stated that the performance reflects disciplined execution across market expansion, portfolio development, and operational efficiency, positioning Exicom at the forefront of India's rapidly growing e-mobility landscape. The Tritium divestment enables Exicom to redeploy capital toward higher-priority EV charging opportunities in India and global markets.

Availability

The intimation is available on the Company's website at www.exicom.com.