Any current/future new fundraising through debt or equity?

Exicom Tele-Systems Limited has secured $10 million equity capital from a UK-based private equity firm specifically for its subsidiary Tritium at the holding company level (not at Exicom's listed company level). The funds from this equity infusion are currently being drawn and deployed for Tritium's operations. There are ongoing progressive discussions with multiple other players for minority stake investments in Tritium. No mentioned plans for fundraising through equity or debt at the Exicom listed company level as per the latest call. The funds from the previous IPO (~Rs. 400 crores) and rig

Any current/future capex/capital investment/strategic investment?

Tritium investment remains a key strategic focus, with over $3 million invested in procurement of materials for initial production of the TRI-FLEX ultra-fast high-power chargers starting March 2026. Tritium secured $10 million equity infusion from a UK PE firm for funding its higher cost structure and growth, with discussions ongoing for further minority stake investments. Exicom raised about Rs. 400 crores via IPO in March 2024, which has been almost fully deployed as planned across production ramp-up, R&D, and other corporate uses. The new Hyderabad plant for Critical Power and EV chargers i

Future growth expectations in sales/revenue/volumes?

Critical Power business expected to grow substantially in FY27 with a strong order book of Rs. 1,400+ crores executable over 24 months; potential to approach Rs. 1,000 crores revenue in FY27. Telecom CAPEX plans include more than 120,000 tower/site build-ups or upgrades in FY27, driving demand. EV charger business growing steadily; 4% standalone growth in Q3 FY26 with focus on India (59-60% revenue share) and expanding exports to US, Europe, Australia. Tritium entering growth phase from Q4 FY26; aiming for 3x revenue scale-up in FY27 compared to FY26; targeted consolidated EBITDA breakeven by

Future growth expectations in earnings/operating earnings/profits/EPS?

Expectation of much stronger performance in Q4 FY26 and FY27, driven by growth in both Critical Power and Tritium businesses. Tritium targeted to achieve consolidated EBITDA breakeven in Q4 FY27, with continuous quarter-on-quarter improvement starting Q4 FY26. Critical Power business projected to grow significantly in FY27 due to large telecom CAPEX plans (~1,20,000 towers/sites expected), possibly growing 20-30% in good years. Robust order book of Rs. 1,435 crore in Critical Power, mostly executable over next 24 months, supporting revenue growth. YTD Critical Power revenues up ~8.5%,

Current/ Expected Orderbook/ Pending Orders?

The current order book for Critical Power stands at approximately Rs. 1,435 crores. This order book is largely executable over the next 24 months, with very minimal portions extending up to 30 months. Exicom's YTD Critical Power revenue is around Rs. 425 crores, with Q4 typically being the strongest quarter. The backlog for Tritium, including TRI-FLEX orders, is about $15 million as of January 1, 2026. There is a significant $30 million firm purchase order and forecast from a large US customer for Tritium products, deliveries spread over calendar year 2026. TRI-FLEX production begins March 202

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Exicom Tele-Systems LtdQ4 FY27Electrical Equipment

Exicom Tele-Systems Ltd Q4 FY27 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹166Market Cap: ₹1.6K CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 2

Margin

Category 1

Fundraise

Yes

Order

Yes

Capex

Yes

4 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 2

→Critical Power business expected to grow substantially in FY27 with a strong order book of Rs. 1,400+ crores executable over 24 months; potential to approach Rs. 1,000 crores revenue in FY27.
→Telecom CAPEX plans include more than 120,000 tower/site build-ups or upgrades in FY27, driving demand.
→EV charger business growing steadily; 4% standalone growth in Q3 FY26 with focus on India (59-60% revenue share) and expanding exports to US, Europe, Australia.
→Tritium entering growth phase from Q4 FY26; aiming for 3x revenue scale-up in FY27 compared to FY26; targeted consolidated EBITDA breakeven by Q4 FY27.
→Tritium backlog around $15 million as of January 2026 with new product TRI-FLEX production from March 2026 expected to ramp up sales gradually.
→Exicom anticipates continuous quarter-on-quarter improvement and stronger overall performance in Q4 FY26 and FY27.

Margin guidance

Category 1

→Expectation of much stronger performance in Q4 FY26 and FY27, driven by growth in both Critical Power and Tritium businesses.
→Tritium targeted to achieve consolidated EBITDA breakeven in Q4 FY27, with continuous quarter-on-quarter improvement starting Q4 FY26.
→Critical Power business projected to grow significantly in FY27 due to large telecom CAPEX plans (~1,20,000 towers/sites expected), possibly growing 20-30% in good years.
→Robust order book of Rs. 1,435 crore in Critical Power, mostly executable over next 24 months, supporting revenue growth.
→YTD Critical Power revenues up ~8.5%, EVSE business up 65%, showing strong growth momentum.
→Standalone revenues already up 14% YTD FY26; FY27 expected to benefit from large order execution and new market expansions.
→Marketing and product innovations (e.g., TRI-FLEX charger launch) expected to boost sales and margins.
→Overall, EPS and profitability expected to improve significantly due to scaling operations, focused growth, and cost management.

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Fundraise plans

Yes

→Exicom Tele-Systems Limited has secured $10 million equity capital from a UK-based private equity firm specifically for its subsidiary Tritium at the holding company level (not at Exicom's listed company level).
→The funds from this equity infusion are currently being drawn and deployed for Tritium's operations.
→There are ongoing progressive discussions with multiple other players for minority stake investments in Tritium.
→No mentioned plans for fundraising through equity or debt at the Exicom listed company level as per the latest call.
→The funds from the previous IPO (~Rs. 400 crores) and rights issue raised last year have been almost fully utilized as per plans.

Order book

Yes

→The current order book for Critical Power stands at approximately Rs. 1,435 crores.
→This order book is largely executable over the next 24 months, with very minimal portions extending up to 30 months.
→Exicom's YTD Critical Power revenue is around Rs. 425 crores, with Q4 typically being the strongest quarter.
→The backlog for Tritium, including TRI-FLEX orders, is about $15 million as of January 1, 2026.
→There is a significant $30 million firm purchase order and forecast from a large US customer for Tritium products, deliveries spread over calendar year 2026.
→TRI-FLEX production begins March 2026 with initial momentum expected after deployment of initial units, but exact sales figures are not disclosed.
→Overall, Tritium aims for a 3x revenue scale-up in FY27 compared to FY26 to achieve EBITDA breakeven by Q4 FY27.

Capex plans

Yes

→Tritium investment remains a key strategic focus, with over $3 million invested in procurement of materials for initial production of the TRI-FLEX ultra-fast high-power chargers starting March 2026.
→Tritium secured $10 million equity infusion from a UK PE firm for funding its higher cost structure and growth, with discussions ongoing for further minority stake investments.
→Exicom raised about Rs. 400 crores via IPO in March 2024, which has been almost fully deployed as planned across production ramp-up, R&D, and other corporate uses.
→The new Hyderabad plant for Critical Power and EV chargers is being fully commissioned by March 2026, marking a capital investment in enhanced manufacturing capability.
→No plans to enter capital-intensive charge point operator (CPO) business; Exicom remains focused on its core technology and product areas.

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