Exicom Delivers its Strongest Quarter of FY26 as Both Businesses Return to Sharp Growth

New Delhi, May 20 : Exicom Tele-Systems Limited  one  of India’s leading EV charging and critical power companies, announced its financial results  for Q4 and full year FY26. Standalone revenue for the year stood at ~₹895 crore  and consolidated revenue at ~₹1,152 crore Standalone EBITDA and PAT for the  year were ~₹70 crore and ~₹13.6 crore respectively, while on a consolidated basis, EBITDA  and PAT losses stood at ~₹103 crore and ~₹274 crore. 

A closing quarter that validates the year’s direction 

Q4 brought together what earlier quarters had been building toward. The standalone  business, Exicom’s India engine, delivered an improved performance in Q4, with quarterly  EBITDA margin rising steadily through FY26 from 5.8% in Q1 to 10.6% in Q4. Strong  domestic growth, rising exports and Tritium’s commercial scale-up moved consolidated  EBITDA to breakeven this quarter, from a loss of ~₹32 crore in Q3. Full-year consolidated PAT  losses were wider than FY25, but the gap is structural, not operational. The primary reason  is Tritium’s contribution of twelve months of operations in FY26 versus seven months in  FY25. The Q4 trajectory can be considered a better read on the potential of the company,  even though Q1, as seen in past years, tends to be a softer quarter than Q4. 

Characterizing the financial performance of the year, Anant Nahata, CEO and  Managing Director, Exicom said

“FY26 demanded a lot of us, and Q4 reflects the  result of that work. Revenues grew strongly, with both India and the global  business contributing meaningfully. Our standalone business posted a strong  EBITDA, and the consolidated business turned EBITDA-breakeven for the first  Ime since the TriIum acquisiIon – reflecIng beKer product mix, sharper  execuIon, and TriIum beginning to scale commercially.” 

EV Charging: Strong demand cycle and continued business momentum 

India’s EV market continued signalling strong growth in FY26, with 4-wheeler EV sales rising  ~109% YoY. This buoyancy in demand is broad-based with nearly 15 EV launches, e-bus and  commercial vehicle traction, and state and central policies setting the groundwork for  sustained long term growth. 

In the current quarter, Exicom growth tracked well above the market, with the standalone  business growing 27% QoQ against a ~14% market expansion. Q4 set new records for 

Exicom on quarterly EVSE revenue, DC chargers sold (>120 kW), service and projects  revenue, and global manufactured-and-sold volumes. Some key highlights: 

• With Exicom One – the integrated charging infrastructure deployment solution,  Exicom delivered the country’s largest fast-charging rollout in 180+ cities, 350+  locations for a leading passenger car OEM along with the fastest ultrafast  deployment of 16 stations for a leading SUV OEM 

• On the technology front, Exicom upgraded its Remote Management System with AI  capabilities and commissioned a new Network Operations Centre (NOC) for  predictive diagnostics, improving the reliability of public chargers at scale 

• Exicom is steadily building exports into a structural revenue pillar. Progress is visible with global efforts on pipeline development and Southeast Asia’s early momentum. This reflectsin EV exports revenue of ~₹30 crore, up more than 2x from last year, and  a strong order pipeline heading into FY27 

Tritium delivered its strongest commercial quarter yet, under Exicom ownership – USD $9.7 Mn in revenue (+157% QoQ) and a USD $12.6 Mn backlog entering Q1 FY27. Tritium’s next generation DC-FLEX fleet charger secured orders from one of the largest US fleet  operators, with deliveries expected to begin in CY 2027. Tritium was also selected as the  charging technology vendor for a major American urban ferry electrification programme. Its  GRID-FLEX, an 800 VDC bidirectional platform for battery storage and data centres, is  currently in pilot with a global hyperscaler ; which if successful, could unlock a new  opportunity that would have a potential to scale product line revenues by ~USD 30 Mn from  2027. With commercial traction now visible and product launches lined up, Tritium remains  firmly on track for EBITDA breakeven in Q4 FY27. 

Critical Power: Operating through a soft industry cycle, positioned for a stronger FY27 

Telecom tower rollout growth softened to ~3.7% YoY in FY26 against a five-year CAGR of  5.8%, as operator capex shifted from expansion to densification and 5G upgrades. The cycle  is now turning with telcos and tower companies having announced investment plans for  FY27. 

Complementing this all-round improvement, the business secured a landmark order for DC  power systems from a major Indian telco for delivery in FY27 and recorded its highest-ever  quarterly exports to Africa, Middle East, and Southeast Asia. The BESS solutions also made  good early headway, with 10 projects commissioned during the year giving Exicom a solid  base to scale through FY27. 

Hyderabad manufacturing facility 

One of FY26’s defining milestones was the inauguraLon of Exicom’s integrated Hyderabad  plant in March 2026. Built on a ~₹216 crore investment, it expands the company’s  manufacturing capacity 2.5x. The facility is architected on Industry 4.0 principles, with  advanced automaLon, roboLcs, and specialised tesLng infrastructure for power electronics.  Going into FY27, it gives Exicom the scale and quality edge to convert demand into market 

wins. The plant also brings global technology home, with local manufacturing of Tritium’s  liquid-cooled power modules. 

“FY27 begins with capacity in place, strong customer traction, Tritium gaining  commercial ground, and both businesses operating into demand environments that  look materially healthier than the last year. The macro picture has its own set of  variables – geopoliIcal and supply chain shiOs that could pressure cost structures,  alongside currency and commodity volaIlity, but we are watching them closely and  are confident in our ability to navigate effecIvely.” Anant Nahata, CEO and Managing Director, Exicom added. 

Financials (₹ Crore)