EXICOMIndustrials

Exicom Tele-Systems Limited

Heavy Electrical Equipment · ISIN INE777F01014 · BSE 544133 · NSE EQ · FV ₹10
Last price
₹160
-1.62%today
What this company does

Exicom Tele-Systems Limited operates in Heavy Electrical Equipment, part of the Industrials sector. It booked ₹331 cr of revenue in its latest quarter (Q1 FY27) and kept -20.9% of sales as profit.

Exicom Tele Systems Limited is India’s foremost provider of EV chargers and telecom power solutions with over three decades of expertise in power management solutions. Committed to leading sustainable energy transitions, the Company focuses on advancing the transformation to sustainable energy in mobility and telecommunications through state-of-the- art technology.
In the report:
25out of 100
Equitytale Health Score
Fragile

Healthier than 25% of companies in Industrials, on the 5 of 6 measures we could read for it. Each measure is ranked against the 60–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
43

At close. Not part of the score.

Profitability & returns2

How much profit it earns on the money it employs

Balance sheet15

How much it owes, and whether earnings cover the interest

Cash quality24

Whether reported profit actually arrives as cash

Valuation37

What today's price implies, against our models or its peers

Governance & risk89

How much of the promoters' stake is pledged, and how much they hold

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
Sales up 61% vs last year
Promoters hold 65%
Watch-outs
! Currently loss-making
! Thin -20.9% net margin
! 2.8% of promoter stake pledged
! Low -42.5% return on equity
! Operating cash flow is negative

What if I invest in EXICOM?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹160 -1.62%
latest close · 2026-09-17
52-wk low ₹14042 sessions so far52-wk high ₹189
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio3.42High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-42.5%Loss
WeakFairStrong ▸15%
Return on capital-20.6%Loss
WeakFairStrong
Net margin-20.9%Loss
ThinDecentStrong
EBITDA margin-5.1%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.68Moderate
LowModerateHigh ▸1
Interest cover-3.4×Risky
RiskyOkayStrong ▸5×
Current ratio1.21Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹2,227 cr
Book value
₹47
EPS
₹-4.98
latest quarter
Net debt
₹407 cr
owes more than its cash
Enterprise value
₹2,633 cr
EBITDA
₹-68 cr
annualised
EBIT
₹-223 cr
annualised
Operating margin
-16.9%
Return on assets
-13.9%
Earnings yield
P/S
1.68
Sales / share
₹95.2
Tax rate
Face value
₹10
Shares
13.9 cr
Working capital
₹186 cr
Current assets
₹1,088 cr
Current liabilities
₹903 cr
Delivery %
34.7%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
The company's latest annual profit was negative, so we won't call it cheap off older profits.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹331 cr
Other Income₹5 cr
Total Income₹336 cr
Cost of Materials₹210 cr
Purchases of Stock-in-Trade₹3.5 L
Inventory Change (±)₹12 cr
Employee Benefit Expense₹50 cr
Finance Costs₹16 cr
Depreciation & Amortisation₹39 cr
Other Expenses₹81 cr
Total Expenses₹408 cr
Profit before Tax₹-72 cr
Tax Expense₹2 cr
Net Profit₹-74 cr
Net margin on total income-21.9%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹222 cr54.2%
Employee benefit expense₹50 cr12.2%
Finance costs₹16 cr4.0%
Depreciation & amortisation₹39 cr9.5%
Other expenses₹81 cr19.7%
Tax expense₹2 cr0.4%
Total income ₹336 cr

The company made a net loss of ₹74 cr this quarter — income covered only 82 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue277 cr388 cr331 cr
Total income284 cr390 cr336 cr
Expenses350 cr438 cr408 cr
Profit before tax-68 cr-49 cr-72 cr
Tax31.9 L5 cr2 cr
Net profit (owners' share)-68 cr-54 cr-69 cr
Net margin (owners' share, on revenue)-24.5%-14.0%-20.9%
EPS (₹)-5.12-4.03-4.98
YoY (latest quarter): total income +57.3% · net profit
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹1,989 cr
Shareholder equity
₹651 cr
parent shareholders
Total debt
₹442 cr
Cash
₹35 cr
Cash flow · H1 FY26
Operating
₹-63 cr
Investing
₹-52 cr
Financing
₹103 cr
Peer comparison
Heavy Electrical Equipment · by market value
CompanyPriceMarket capP/E
Siemens Limited₹3,764₹8.37 L cr97.6
ABB India Limited₹7,131₹1.51 L cr102.1
Bharat Heavy Electricals Limited₹429₹1.49 L cr99.4
Hitachi Energy India Limited₹31,230₹1.39 L cr118.3
CG Power and Industrial Solutions Limited₹880₹1.39 L cr110.6
GE Vernova T&D India Limited₹4,341₹1.11 L cr76.5
Siemens Energy India Limited₹3,109₹1.11 L cr62.8
Suzlon Energy Limited₹43₹58,505 cr48.3
Thermax Limited₹3,570₹40,210 cr398.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Rights issue20:37 Jul 2025
Who owns it · 2026-06-30
2.8% pledged
Promoter
65.2%
FII / Foreign
0.2%
DII / Domestic
0.3%
Retail / others
34.3%
Promoter stake down 4.4% over the last 12 quarters.
Smart-money activity
Insider trades
SoldSrinivasa Rao Saripalli · Employees/Designated Employees60,000 · ₹1.9 cr19 Sep 24
SoldSrinivasa Rao Saripalli · Employees/Designated Employees25,000 · ₹83.8 L18 Sep 24
SoldSrinivasa Rao Saripalli · Employees/Designated Employees41,000 · ₹1.4 cr17 Sep 24
Bulk / block deals
SoldHRTI PRIVATE LIMITED · NSE6.96 L @ ₹171.7719 Jun 26
BoughtHRTI PRIVATE LIMITED · NSE6.66 L @ ₹172.419 Jun 26
SoldHRTI PRIVATE LIMITED · NSE8.21 L @ ₹170.318 Jun 26
Stake changes
BoughtSatellite Finance Private Limited · promoter→ 6.31% · 42.52 L1 Dec 25
BoughtSatellite Finance Private Limited · promoter→ 6.31% · 42.52 L1 Dec 25
Promoter pledges
PledgedPNB Invsetment Services Limited on behalf of consortium Banks (PNB, SBI and IDBI)25.67 L · 0.00% held1 Apr 24
What shareholders were asked to approve
3 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 1 Feb 2026
See the official result
1
Approval for Material Related Party Transactions with Exicom Power Solutions B.V., an Unlisted Material Subsidiary of the Company
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
1.13 cr votes for, 81,815 against · 1% of mutual funds and other big investors said no
2
Approval for Material Related Party Transactions between Exicom Power Solutions B.V., Netherlands and Tritium Power Solutions Pty Ltd, Australia, Subsidiaries of the Company
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
1.13 cr votes for, 81,293 against · 1% of mutual funds and other big investors said no
3
Approval for Material Related Party Transactions between Exicom Power Solutions B.V., Netherlands and Tritium Power Solutions Inc., USA, Subsidiaries of the Company
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
1.13 cr votes for, 81,307 against · 1% of mutual funds and other big investors said no
4
Approval for Material Related Party Transactions between Tritium Power Solutions Pty Ltd, Australia and Tritium Power Solutions Inc., USA, Subsidiaries of the Company
Promoters had a personal stake in this
Backed by 99% of shareholders other than promotersneeded 50%
1.13 cr votes for, 81,294 against · 1% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 66 named members
owning 65.2% between them · as of 2026-06-30
Nextwave Communications Private Limited54.72%
HFCL Limited5.44%
Satellite Finance Private Limited5.04%
Aariv Nahatano shares
Abhilash Growth Fund Private Limitedno shares
Abhinav Oswalno shares
Abrotex Apparels Private Limitedno shares
Anant Nahatano shares
Business done with them
FY2025 · 2 of the group
The company paid ₹21 cr to companies in the promoter group last year — about 2.5% of its ₹868 cr revenue and received ₹111 cr back from them.
NEXTWAVE COMMUNICATIONS PRIVATE LIMITED
Contribution received from them · Issue of 6% Non Convertible Debentures, Issue of Bonus Shares, Redemption of 6% Non Convertible Debentures, Compulsorily Convertible Debentures converted into Equity Shares, Interest Expenses,Loan taken and loan repaid
also owns 54.72% of the company
₹100 cr
company received
NEXTWAVE COMMUNICATIONS PRIVATE LIMITED
Contribution made to them · Issue of 6% Non Convertible Debentures, Issue of Bonus Shares, Redemption of 6% Non Convertible Debentures, Compulsorily Convertible Debentures converted into Equity Shares, Interest Expenses,Loan taken and loan repaid
also owns 54.72% of the company
₹20 cr
company paid
HFCL LIMITED
Provided services to them · Sale of Goods,Services rendered,Rent Income,Rent Paid, Services received, corporate guarantee expense
also owns 5.44% of the company
₹8 cr
company received
HFCL LIMITED
Sold goods to them · Sale of Goods,Services rendered,Rent Income,Rent Paid, Services received, corporate guarantee expense
also owns 5.44% of the company
₹3 cr
company received
NEXTWAVE COMMUNICATIONS PRIVATE LIMITED
Other payments to them · Issue of 6% Non Convertible Debentures, Issue of Bonus Shares, Redemption of 6% Non Convertible Debentures, Compulsorily Convertible Debentures converted into Equity Shares, Interest Expenses,Loan taken and loan repaid
also owns 54.72% of the company
₹1 cr
company paid
HFCL LIMITED
Leases As Lessor · Sale of Goods,Services rendered,Rent Income,Rent Paid, Services received, corporate guarantee expense
also owns 5.44% of the company
₹92.3 L
company received
HFCL LIMITED
Leases As Lessee · Sale of Goods,Services rendered,Rent Income,Rent Paid, Services received, corporate guarantee expense
also owns 5.44% of the company
₹46.6 L
company received
HFCL LIMITED
Paid them for services · Sale of Goods,Services rendered,Rent Income,Rent Paid, Services received, corporate guarantee expense
also owns 5.44% of the company
₹13.2 L
company paid
HFCL LIMITED
Other payments to them · Sale of Goods,Services rendered,Rent Income,Rent Paid, Services received, corporate guarantee expense
also owns 5.44% of the company
₹6.5 L
company paid

The company also transacted with 14 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹400 cr raised in Mar 2024 by selling shares to the public

As of Jun 2026, the company says it has spent 100% of what it set aside. CARE RATINGS LIMITED watches the spending on the exchange’s behalf.

Part financing the cost towards setting up of production/assembly lines at the planned manufacturing facility at Telangana
100%
₹151 cr of ₹151 cr
Repayment/pre payment, in part or full, of certain borrowings of our Company
100%
₹50 cr of ₹50 cr
part-funding incremental working capital requirements
100%
₹69 cr of ₹69 cr
Investment in R&D and product development
100%
₹40 cr of ₹40 cr
General Corporate Purpose
100%
₹61 cr of ₹61 cr
Offer expenses related
100%
₹28 cr of ₹28 cr
Spent by quarter: 73%89%95%100% (to Jun 2026) · 1 earlier quarter is left out because the company restated its figures
₹259 cr raised in Jul 2025 by offering new shares to existing shareholders

As of Mar 2026, the company says it has spent 100% of what it set aside. CARE RATINGS LIMITED watches the spending on the exchange’s behalf.

Investment in our wholly owned Subsidiaries for funding operating expenses of the Tritium Business
100%
₹85 cr of ₹85 cr
Repayment of certain outstanding borrowings availed by our Company including by way of adjustment of loan availed from our Corporate Promoter against share application money for subscription to Rights Equity Shares pursuant to the Issue
100%
₹162 cr of ₹162 cr
General Corporate Puposes
100%
₹10 cr of ₹10 cr
Issue related expenses
100%
₹3 cr of ₹3 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.