Exicom Q2 FY27 Revenue Rises 38% Sequentially; Board Approves Tritium Divestment

Exicom Tele-Systems reported consolidated revenue of ₹388.3 crore in Q2 FY27, up 38% sequentially, while EBITDA turned positive at ₹1.8 crore compared with a loss of ₹21.9 crore in Q1 FY27. The company's net loss narrowed to ₹57.8 crore from ₹73.6 crore in the previous quarter.

The company's standalone business reported revenue of ₹277 crore, up 21.3% year-on-year from ₹228.4 crore in Q2 FY26. Standalone EBITDA increased 69% to ₹25.6 crore, compared with ₹15.2 crore in the year-ago quarter, taking the EBITDA margin to 9.2% from 6.6%.

Revenue from Exicom's standalone EV charging business crossed ₹100 crore for the first time in a quarter. Alongside its Q2 results, the company's board approved the proposed divestment of its global DC fast-charging business, Tritium, as it looks to allocate more capital towards its Indian EV charging operations and other export markets.

Exicom EV charging revenue crosses ₹100 crore

Exicom reported higher production volumes across its EV charger portfolio during the quarter, manufacturing 2.5 times as many AC chargers and twice as many DC chargers as in the previous quarter. The company also secured new business across market segments.

Its export operations expanded into 10 additional countries, with 10 new distribution partners onboarded during the quarter. On the product and software front, Exicom extended AI-based remote monitoring to its Spin Air AC chargers and introduced an AI-enabled service agent.

The company estimates that India's EV charging market could require annual demand of up to 130,000 AC chargers, 25,000 DC chargers and nearly 6,000 high-power DC chargers for electric buses and trucks.

According to the company's estimates, 1.9 lakh EVs were sold in India between April and September 2026, representing a 59% increase compared with the preceding six-month period. Exicom also expects the electric bus and truck segments to contribute to future charging infrastructure demand.

Exicom board approves Tritium divestment at indicative $85 million valuation

Exicom's board has approved a non-binding term sheet from a prospective acquirer for the divestment of Tritium at an indicative enterprise valuation of US$85 million. The proposed valuation is on a cash-free and debt-free basis and remains subject to confirmatory due diligence, customary closing adjustments and agreement on definitive transaction documents.

Exicom said the decision follows a review of capital allocation priorities, with the company seeking to direct resources towards growth opportunities in India and other export markets. Tritium's operations remain capital-intensive despite progress in commercialising products, entering new markets and building its order book following the acquisition.

As part of the transaction, Exicom will retain a perpetual licence to Tritium's TRI-FLEX technology. The company also said that liquid-cooled power modules developed through the acquisition are now manufactured at its Hyderabad facility.

Exicom CEO and Managing Director Anant Nahata said the acquisition had provided access to international markets and technology, while the proposed divestment would allow the company to concentrate its financial resources on its core EV charging and export operations.

Critical power business secures telecom order

Exicom's critical power business secured an order for approximately 5,000 DC power systems from a tier-one telecom operator during Q2 FY27. The company also expanded its participation in the government's uncovered villages connectivity programme.

In the BharatNet mid-mile network, Exicom said it continues to hold approximately 50% market share in hybrid power and battery solutions. Its critical power operations also added customers in Africa and the Middle East during the quarter.

In energy storage, the company signed long-term distribution agreements covering residential and commercial and industrial (C&I) segments. Exicom cited industry projections indicating that C&I energy storage installations could increase from less than 1 GWh in 2025 to as much as 31 GWh by 2032.

Nahata said the company was monitoring cost pressures amid volatility in energy markets, while continuing to focus on demand across EV charging, digital connectivity and energy storage.

Exicom Q2 FY27 financial performance

Exicom's consolidated revenue increased to ₹388.3 crore in Q2 FY27 from ₹281.7 crore in Q2 FY26, while consolidated EBITDA improved to ₹1.8 crore from a loss of ₹32.7 crore in the year-ago quarter.

Consolidated EBITDA margin stood at 0.5%, compared with -11.6% in Q2 FY26. The consolidated net loss widened to ₹57.8 crore from ₹68.8 crore in the corresponding quarter last year, although it narrowed from ₹73.6 crore in Q1 FY27.

On a standalone basis, revenue rose to ₹277 crore from ₹228.4 crore in Q2 FY26. EBITDA increased to ₹25.6 crore, while profit after tax stood at ₹7.8 crore compared with ₹5.9 crore in the year-ago quarter.