Exicom Tele-Systems Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Critical Power: 69.0% • EV: 31.0%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Latest quarter profit grew 163.5% YoY, showing strong momentum
- Company has delivered good sales growth of 23.7% CAGR over last 5 years
- Working capital cycle has improved - days down from 222 to 79
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (174.3% of PBT)
- Company has a low return on equity of 7.3% over last 3 years
- Promoter holding has decreased over last 2 years: -4.4pp
- Interest coverage is weak at 1.4x - earnings barely cover interest
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.32x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ABB | 7330.00 | 51.99 | 155328.84 | 0.54 | 3623.00 | 930.02 | 35588.70 | 1110.31 | 30.18 | 12.56 |
| CGPOWER | 908.00 | 114.44 | 143050.87 | 0.14 | 308.28 | 15.52 | 3280.81 | 13.99 | 27.94 | 12.11 |
| SIEMENS | 3972.00 | 43.19 | 141451.06 | 0.45 | 214.31 | -49.38 | 4713.70 | 8.44 | 21.42 | 9.14 |
| POWERINDIA | 31065.00 | 120.36 | 138464.05 | 0.03 | 2941.50 | 2135.18 | 24936.90 | 1586.18 | 28.73 | 14.58 |
| GVT&D | 4500.00 | 617.01 | 115220.94 | 0.22 | 362.99 | 24.65 | 1836.14 | 38.04 | 75.51 | 25.10 |
| ENRIN | 3180.50 | 76.12 | 113264.13 | 0.13 | 440.90 | 67.83 | 2485.60 | 39.28 | 40.19 | 23.56 |
| WAAREEENER | 2545.00 | 19.18 | 73207.26 | 0.16 | 891.87 | 15.39 | 7931.79 | 79.22 | 37.92 | 18.15 |
| APARINDS | 17293.00 | 61.29 | 72409.83 | 0.35 | 4674.50 | 1677.98 | 65910.60 | 1191.31 | 31.84 | 11.50 |
| HAVELLS | 1116.00 | 42.88 | 70035.88 | 0.90 | 289.71 | -16.64 | 6518.19 | 19.48 | 25.74 | 7.15 |
| SUZLON | 44.44 | 19.43 | 61085.61 | 0.00 | 305.22 | -5.89 | 3829.09 | 22.83 | 35.79 | 15.55 |
| SCHNEIDER | 1195.30 | 155.53 | 28580.11 | 0.00 | 12.44 | -69.84 | 651.36 | 4.78 | 31.01 | 5.23 |
| EXICOM | 176.75 | 93.68 | 2458.23 | 0.00 | -73.57 | 11.50 | 331.07 | 61.25 | -19.73 | -6.61 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 153 | 155 | 261 | 298 | 243 | 149 | 148 | 213 | 151 | 228 | 234 | 282 | 237 | |
| 142 | 132 | 226 | 252 | 215 | 143 | 154 | 201 | 142 | 213 | 218 | 252 | 238 | |
| Operating Profit | 11 | 23 | 35 | 46 | 28 | 6 | -7 | 12 | 9 | 15 | 16 | 30 | -1 |
| OPM % | 6.87% | 14.93% | 13.48% | 15.32% | 11.51% | 4.02% | -4.42% | 5.67% | 5.84% | 6.64% | 6.90% | 10.60% | -0.36% |
| 7 | 7 | 2 | 4 | 7 | 13 | 13 | 12 | 3 | 7 | 4 | 6 | 7 | |
| Interest | 5 | 5 | 6 | 4 | 3 | 8 | 14 | 12 | 13 | 11 | 9 | 11 | 11 |
| Depreciation | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 5 | 6 | 7 | 7 | 9 | 10 |
| Profit before Tax | 9 | 21 | 26 | 40 | 27 | 6 | -13 | 7 | -8 | 5 | 4 | 16 | 6 |
| Tax % | 41.84% | 20.45% | 49.75% | 22.00% | 20.85% | 22.79% | 24.42% | 30.80% | -3.33% | -23.64% | 8.38% | 25.84% | 23.24% |
| Net Profit | 5 | 17 | 13 | 31 | 22 | 5 | -10 | 5 | -8 | 6 | 4 | 12 | 5 |
| 0.56 | 1.85 | 1.44 | 3.25 | 1.79 | 0.37 | -0.80 | 0.37 | -0.64 | 0.46 | 0.26 | 0.88 | 0.35 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 187 | 274 | 346 | 275 | 309 | 336 | 516 | 866 | 752 | 895 | 981 | |
| 161 | 249 | 324 | 319 | 315 | 307 | 465 | 752 | 713 | 825 | 921 | |
| Operating Profit | 25 | 25 | 22 | -44 | -6 | 29 | 51 | 114 | 39 | 70 | 60 |
| OPM % | 13.46% | 9.01% | 6.29% | -15.88% | -1.98% | 8.60% | 9.94% | 13.20% | 5.25% | 7.82% | 6.15% |
| 1 | 16 | 29 | 36 | 14 | 38 | 18 | 19 | 46 | 20 | 24 | |
| Interest | 6 | 6 | 9 | 11 | 16 | 18 | 17 | 19 | 38 | 44 | 42 |
| Depreciation | 7 | 9 | 8 | 16 | 16 | 15 | 16 | 18 | 21 | 29 | 33 |
| Profit before Tax | 13 | 24 | 33 | -35 | -23 | 35 | 37 | 96 | 27 | 17 | 31 |
| Tax % | 0.17% | -4.35% | 54.77% | -3.28% | 54.23% | 15.84% | 11.12% | 31.09% | 22.02% | 20.92% | 15.54% |
| Net Profit | 13 | 25 | 15 | -36 | -11 | 29 | 32 | 66 | 21 | 14 | 26 |
| EPS | 0.00 | 0.00 | 0.00 | -50.43 | -14.74 | 5.61 | 0.85 | 5.50 | 1.73 | 0.98 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 20%
- 5 Years:
- 24%
- 3 Years:
- 20%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- —
- 3 Years:
- -25%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 25%
RETURN ON EQUITY
- 10 Years:
- 8%
- 5 Years:
- 13%
- 3 Years:
- 7%
- Last Year:
- 2%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 6 | 7 | 7 | 7 | 7 | 7 | 7 | 121 | 121 | 139 | |
| 100 | 150 | 165 | 128 | 131 | 136 | 143 | 512 | 533 | 787 | |
| 38 | 41 | 60 | 65 | 116 | 114 | 118 | 44 | 429 | 326 | |
| Trade Payables | 47 | 92 | 128 | 132 | 168 | 156 | 137 | 201 | 195 | 308 |
| 36 | 8 | 19 | 41 | 14 | 65 | 43 | 42 | 101 | 219 | |
| Total Liabilities | 228 | 299 | 379 | 373 | 436 | 478 | 448 | 921 | 1,379 | 1,780 |
| 61 | 61 | 78 | 98 | 72 | 98 | 77 | 90 | 92 | 281 | |
| Capital Work in Progress | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 20 | 78 | 0 |
| 20 | 8 | 10 | 7 | 0 | 7 | 7 | 4 | 250 | 549 | |
| 38 | 77 | 131 | 118 | 110 | 127 | 116 | 185 | 137 | 257 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 192 | 266 | 337 | |
| Cash & Bank | 5 | 8 | 11 | 11 | 24 | 21 | 25 | 315 | 179 | 28 |
| 102 | 144 | 150 | 139 | 230 | 225 | 223 | 115 | 377 | 328 | |
| Total Assets | 228 | 299 | 379 | 373 | 436 | 478 | 448 | 921 | 1,379 | 1,780 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 41 | 20 | 30 | 34 | -11 | 20 | 9 | 10 | 19 | 4 | |
| Cash from Investing | -24 | -12 | -26 | -11 | -28 | 14 | 9 | -286 | -438 | -132 |
| Cash from Financing | -15 | -2 | 6 | -25 | 46 | -23 | -16 | 317 | 385 | 115 |
| -0 | 0 | 2 | -1 | 2 | 7 | 2 | 41 | -34 | -13 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-31 - Exicom Tele-Systems Limited has informed the Exchange about Action(s) taken or orders passed
2026-08-28 - Significant increase in volume has been observed in Exicom Tele-Systems Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Exicom Tele-Systems Limited has submitted their response.
2026-08-28 - Exicom Tele-Systems Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-28 - Significant increase in volume has been observed in Exicom Tele-Systems Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-27 - Exicom Tele-Systems Limited has informed the Exchange about dispatch of letters to shareholders (non-email cases) providing weblink(s), including exact path(s) and QR Code(s) to access the Notice of the 32nd AGM and Annual Report of the Company for FY 2025-26
2026-08-27 - Exicom Tele-Systems Limited has informed the Exchange about Copy of Newspaper Publication informing dispatch of notice of the 32nd Annual General Meeting of the Company.
2026-08-26 - Exicom Tele-Systems Limited has informed the Exchange regarding Notice of the 32nd Annual General Meeting to be held on September 28, 2026
2026-08-21 - Exicom Tele-Systems Limited has informed the Exchange about Copy of Newspaper Publication (Pre-AGM Notice)
2026-08-19 - Exicom Tele-Systems Limited has informed the Exchange regarding a press release dated August 19, 2026, titled "Exicom Becomes the First Company in India to Manufacture Liquid-Cooled Power Modules for EV Chargers".
News
Recent coverage and analyst commentary for EXICOM
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