Exicom Tele-Systems has announced its audited financial results for the fourth quarter and financial year ended March 31, 2026. The Board of Directors approved the results during a meeting held on May 19, 2026. Standalone revenue for the year stood at Rs 895 crore, up 19% year-on-year, while consolidated revenue reached Rs 1,152 crore, a 33% increase. The company reported a standalone profit after tax (PAT) of Rs 14 crore for the financial year, compared to Rs 21 crore in the previous year. On a consolidated basis, the net loss for the year widened to Rs 274 crore from Rs 110 crore in FY25.

Financial Performance

For the quarter ended March 31, 2026, the standalone business recorded a PAT of Rs 12 crore, an increase from Rs 5 crore in the corresponding quarter of the previous year. Standalone revenue for the quarter rose to Rs 282 crore from Rs 213 crore in Q4 FY25, while consolidated revenue for the quarter stood at Rs 388 crore compared to Rs 266 crore in the same period last year. The standalone EBITDA margin improved to 10.6% in Q4, the highest of the fiscal year. On a consolidated basis, the company reported a net loss of Rs 54 crore for Q4 FY26, compared to a net loss of Rs 62 crore in the same period last year. Notably, consolidated EBITDA turned breakeven this quarter at Rs 0.3 crore, marking the first time since the Tritium acquisition.

The following table summarises key financial metrics across standalone and consolidated bases:

Segment Results

The company operates across two primary segments: Critical Power and EV Charger. For the financial year ended March 31, 2026, the Critical Power segment reported revenue of Rs 617.66 crore on a standalone basis, while the EV Charger segment contributed Rs 277.14 crore. On a consolidated level, Critical Power revenue was Rs 641.82 crore and EV Charger revenue was Rs 509.91 crore for the year. The EV Charging segment saw exports revenue rise to Rs 30 crore, more than double from the previous year.

Operational Highlights

The company inaugurated its integrated Hyderabad manufacturing facility in March 2026, built on an investment of Rs 216 crore. This plant expands the manufacturing capacity 2.5 times and features local manufacturing of Tritium's liquid-cooled power modules. Tritium delivered its strongest commercial quarter under Exicom ownership, recording USD 9.7 Mn in revenue, up 157% quarter-on-quarter, with a backlog of USD 12.6 Mn entering Q1 FY27. The trading window for dealing in the company's securities, which was closed on April 1, 2026, will reopen on May 22, 2026.

Future Outlook

Management indicated that the consolidated EBITDA breakeven in Q4 reflects better product mix and sharper execution. For the upcoming financial year, the company targets BESS business revenue of Rs 50 crore. Tritium is expected to achieve EBITDA breakeven in Q4 FY27, supported by a 3x revenue growth trajectory and new product launches including the TRI-FLEX inverter. The order book for the Critical Power segment stands at Rs 1,000 crore as of March 31, 2026.

exicom tele-systems has submitted the Monitoring Agency Report for the quarter ended March 31, 2026, to the stock exchanges. The report, issued by CARE Ratings Limited, details the utilization of proceeds raised through the Initial Public Offer (IPO), Pre-IPO Placement, and Rights Issue. The company's Board of Directors reviewed and took the report on record via a circular resolution passed on May 12, 2026.

Utilization of IPO and Pre-IPO Proceeds

The Monitoring Agency reported on the utilization of the ₹400 crore raised through the IPO and Private Placement. The total amount utilized as of March 31, 2026, stood at ₹391.17 crore, leaving ₹8.83 crore unutilized. The unutilized funds are deployed in instruments such as HDFC Bank Fixed Deposits earning a return of 5.00%.

The company noted that while funds have been utilized for earmarked objects, there were slight delays in Research and Development (R&D) expenses. Consequently, the Board approved an extension for the utilization of unutilized IPO proceeds until September 30, 2026. A surplus amount of ₹0.65 crore from offer-related expenses was utilized towards General Corporate Purposes.

Financial Breakdown of IPO Objects

Utilization of Rights Issue Proceeds

The report also covered the ₹259.41 crore raised through the Rights Issue in July 2025. The company has fully utilized the proceeds towards the stated objects, including funding operating expenses for its Tritium Business, repayment of borrowings, and general corporate purposes. During Q4FY26, ₹0.17 crore was incurred towards issue-related expenses.

Financial Breakdown of Rights Issue Objects

The Monitoring Agency confirmed that there is no deviation from the objects of the issue and that all necessary government and statutory approvals have been obtained.