Gurugram-based Exicom Tele-Systems Limited reported consolidated revenue of ₹205.3 crore for the first quarter of FY26, driven by expanding EV charger adoption and a strong order pipeline. While Q1 results reflected certain project delays, management expressed confidence in revenue acceleration from the second quarter onwards.

Robust Order Book Signals Growth Momentum

• Entered Q2 FY26 with an order book exceeding ₹1,500 crore
• Anticipates higher deliveries in Bharat Net projects and surging demand for EV chargers in India and overseas
• Management reaffirmed FY26 growth outlook, citing expansion in EV infrastructure and critical power solutions

EVSE Business Powers Ahead

In its EV charging solutions segment, Exicom’s Harmony Direct 2.0 DC fast charger achieved adoption from five of India’s top eight EV customers.
Key highlights include:

• Delivery of over 15,000 home chargers under the Spin Air brand
• Signing of a USD 6 million, two-year framework agreement in Southeast Asia

The company’s strategic investment in Tritium has also paid off, with:

• Over 700 chargers deployed across the US, Europe, and Australia–New Zealand since January 2025
• Ongoing discussions for large-scale EV charging projects, including the first UK deployment later this year

Critical Power Segment Targets Record International Revenue

While Q1 revenues in the critical power segment were affected by Bharat Net project delays, the company:

• Secured significant contracts in the Middle East and Africa
• Is targeting its highest-ever international revenue in FY26

Manufacturing Expansion in Hyderabad

Exicom confirmed that its Hyderabad manufacturing plant remains on track to begin operations in October 2025. The facility is expected to boost production capacity for both EVSE and critical power products, enhancing delivery timelines for large-scale projects.

Global Footprint and Installed Base

Operating across India, Southeast Asia, Middle East, US, and Europe, Exicom has:

• Over 150,000 chargers installed globally
• Recently completed a rights issue with strong shareholder participation, further strengthening its capital base

Management Outlook

Despite Q1 challenges, management remains optimistic:

• Expects revenue momentum from Bharat Net deliveries, EV charger rollouts, and new international contracts
• Confident in leveraging strong market demand to deliver sustained top-line growth in FY26

Bottom Line: Exicom’s ₹205.3 crore Q1 revenue, coupled with a robust order book and expanding EVSE presence, positions the company for a significant upswing in the coming quarters—making FY26 a potentially landmark year for its global growth ambitions.