Exicom Tele-Systems Ltd

- 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.

- 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.

- 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.

- 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.

- 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.