Exicom Tele-Systems Limited reported 18.9% standalone and 32.7% consolidated revenue growth for FY26 during its 32nd Annual General Meeting held on September 28, 2026.

The meeting, conducted via video conferencing, saw the adoption of audited financial statements and approval of material related-party transactions involving subsidiaries Tritium Power Solutions and Exicom Power Solutions. Chairman Anant Nahata highlighted the company's 30-year journey and progress on the new Hyderabad manufacturing facility.

Financial performance highlights

The company outlined key business updates, including a momentum shift in demand for Tritium products. The following table summarizes the disclosed revenue growth metrics:

Resolutions passed

All seven resolutions set out in the notice were put to vote and deemed passed subject to requisite majority. The items included:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Re-appointment of Himanshu Baid as director liable to retire by rotation.
• Ratification of cost auditor remuneration for FY27.
• Approval of material related-party transactions between Exicom Power Solutions B.V., Netherlands, and Tritium Power Solutions Pty Ltd, Australia.
• Approval of material related-party transactions between Exicom Power Solutions B.V., Netherlands, and Tritium Power Solutions Inc., USA.
• Approval of material related-party transactions between Tritium Power Solutions Pty Ltd, Australia, and Tritium Power Solutions Inc., USA.

The Company Secretary submitted the consolidated scrutinizer's report on September 29, 2026, confirming that all resolutions were duly approved by shareholders. For ordinary resolutions such as the adoption of financial statements, approximately 99.99% of votes polled were in favor. Notably, for the three special business items concerning material related-party transactions, the promoter group abstained from voting due to their interest in the matters, while public shareholders approved them with over 99.75% support among those who voted.

What the numbers show

The divergence between standalone (18.9%) and consolidated (32.7%) revenue growth indicates that the subsidiary Tritium contributed significantly to top-line expansion. This suggests that international operations or acquired entities are driving faster growth compared to the core standalone business.

Exicom Tele-Systems has received a customs order imposing a duty liability of ₹14.49 crore and penalties on the company and three directors. The firm plans to appeal the decision.

The Office of the Principal Commissioner of Customs (Import), Inland Container Depot, Tughlakabad, New Delhi, issued the Order-in-Original dated August 21, 2026. The company physically received the document on August 29, 2026, and disclosed it on August 31, 2026, pursuant to Regulation 30 of the SEBI Listing Regulations.

Dispute Over Import Classification

The order relates to the classification of goods imported by Exicom under the Customs Act, 1962. The company declared the items as “Static Converters for Telecom” under CTH 85044090, claiming a Basic Customs Duty exemption under Notification No. 25/2005-Cus. dated March 1, 2005.

The Customs Authority disputed this classification, alleging the goods were intended for Electric Vehicle Chargers, which are not eligible for the exemption. This discrepancy resulted in the determination of additional duty liability along with applicable interest and penalties.

Financial Impact and Penalties

The total customs duty liability determined in the order stands at ₹14,48,80,677. In addition to the duty and interest, the authority imposed specific penalties:

Anant Nahata serves as Managing Director and CEO. Vivekanand Kumar is the Whole-time Director, and Shiraz Khanna is the Chief Financial Officer.

What the Numbers Show

The penalty structure reveals a significant concentration of financial exposure on the corporate entity compared to individual leadership. The company’s penalty under Section 114A is exactly ten times the amount levied on each of the three individual directors under Section 112(a)(ii). This disparity highlights the primary financial risk residing with the listed entity rather than its management personnel.

Company Response

Exicom stated that it believes its original classification was in accordance with applicable law. The company intends to file an appeal within the prescribed time limit and pursue appropriate legal remedies.

Management indicated that, based on current assessment, the order is not expected to have a material financial impact on the company. There is no reported impact on operations or other activities.