9 months ago
Exicom Reports Strong Q2 Performance Driven by India Growth, Eyes Scaled-Up Operations
Exicom, a company that makes electric vehicle (EV) chargers and power systems, had a really good quarter in India.
Their sales in India went up a lot, and their own operations became more profitable.
They make chargers for electric cars, buses, and trucks, and also provide power systems for things like internet infrastructure.
The company is seeing more people buy their AC chargers and is expanding into high-power fast chargers.
They also recently bought another company called Tritium to help them grow internationally.
While Exicom's overall profits (consolidated) are still a bit down because of the costs associated with Tritium, they expect things to get better.
They are working on new products and international markets, and they believe Tritium will be a big help for them in the future.
Because of these factors and expected future growth, Exicom is looking forward to stronger performance in the coming months.
Exicom reported strong Q2 FY26 consolidated revenues of ~₹282 crore, an 84% year-on-year increase, though consolidated EBITDA remained at a loss of ₹32.7 crore.
The company's standalone business showed a significant turnaround with revenues up over 50% sequentially and YoY, and EBITDA increasing by 154% YoY.
The Critical Power business generated ~₹170 crore in revenue, supported by deliveries for Bharat Net sites and orders for energy storage systems.
The EV Charging business achieved ~₹112 crore in revenue, with record AC charger sales and expansion into high-power fast charging and international markets.
Exicom is facing consolidated EBITDA pressure due to the acquisition of Tritium, but plans external financing for Tritium to drive future growth and aims for its break-even by Q4 FY27.
- Who
- Exicom Tele-Systems Limited
- What
- Announced strong Q2 FY26 financial results with significant year-on-year and quarter-on-quarter growth in standalone revenues and EBITDA, alongside consolidated growth driven by Critical Power and EV Charging businesses, despite consolidated EBITDA pressure from the Tritium acquisition.
- Where
- India, with global operations including Southeast Asia, the Middle East, US, and Europe through its subsidiary Tritium.
- When
- Financial results for Q2 FY26 announced on November 10, 2025.
- Why
- Driven by strong performance in its standalone business, renewed project activity in Critical Power, momentum in EV Charging, and strategic expansion through acquisitions like Tritium.
Exicom's Stance on Tritium Acquisition
Impact on Consolidated Financials
Tritium's Contribution to Growth
Exicom's Stance on Tritium Acquisition
Exicom views the acquisition of Tritium as a strong long-term growth driver, enabling global footprint expansion and market penetration in the US and Europe with new products like Tri Flex and DC Flex.
Impact on Consolidated Financials
Tritium's near-term losses continue to impact Exicom's consolidated financial results, causing pressure on consolidated EBITDA due to ongoing fixed costs and investment in new product commercialization.
Financing and Investment Strategy
Exicom's Stance on Tritium Acquisition
Exicom is securing external financing for Tritium to fuel its growth phase, limiting Exicom's direct investment exposure and focusing on creating long-term shareholder value.
Impact on Consolidated Financials
The consolidated EBITDA remains under pressure, with targets for Tritium to achieve steady-state revenue and EBITDA break-even projected for Q4 FY27, indicating a continued drag on profitability in the interim.
Key facts
- Consolidated Revenues Q2 FY26
- ~₹282 crore
- Standalone Revenues Q2 FY26
- ~₹228 crore
- Standalone EBITDA Q2 FY26
- ₹15.17 crore
- Consolidated EBITDA Loss Q2 FY26
- ₹32.7 crore
- Critical Power Business Revenues Q2 FY26
- ~₹170 crore
- EV Charging Business Revenues Q2 FY26
- ~₹112 crore
- AC Charger Sales Q2 FY26
- ~20,000+ units
- Tritium Acquisition Date
- August 2024
Quotes
Anant Nahata
Managing Director and CEO, Exicom
“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.”
thehindubusinessline.com
“Although Tritium’s near-term losses will continue to impact consolidated results for a few more quarters, we see it as a strong long-term growth driver. The new financing structure will allow us to continue focusing on growth and expansion, while limiting Exicom’s investment exposure, thereby creating long-term shareholder value.”
thehindubusinessline.com
