Exicom overseas subsidiaries report Rs 139 crore half-year loss

Exicom Tele-Systems Limited’s eight overseas subsidiaries reported a combined net loss after tax of Rs 139.14 crore for the half year ended September 30, 2026, while holding total assets of Rs 995.74 crore. The subsidiaries generated Rs 224.55 crore of half-year revenue before consolidation adjustments, according to the auditor’s review report.

What did Exicom’s overseas subsidiaries report for the half year?

Exicom’s eight overseas subsidiaries reported Rs 224.55 crore of revenue and a net loss after tax of Rs 139.14 crore for the half year ended September 30, 2026. The figures in the auditor’s disclosure are before consolidation adjustments and cover the subsidiaries as a combined group rather than as individual entities.

The subsidiaries recorded a total comprehensive loss of Rs 144.73 crore for the six-month period, exceeding the reported net loss after tax by Rs 5.59 crore. They also reported net cash outflows of Rs 4.83 crore during the half year and total assets of Rs 995.74 crore at September 30, 2026.

The September quarter supplied more than half of the subsidiaries’ half-year revenue, at Rs 123.44 crore against Rs 224.55 crore for the six months. Its Rs 64.56 crore net loss after tax was less than half the half-year loss, indicating that the loss in the June 2026 quarter was larger; the filing does not separately state the June-quarter figure.

Which businesses are included in Exicom’s overseas disclosure?

Exicom’s disclosure includes eight subsidiaries in Singapore, Malaysia, the Netherlands, the United States, the United Kingdom, Australia and Dubai. They are Exicom Tele-Systems (Singapore) Pte. Ltd., Horizon Tele-Systems SDN BHD, Exicom Power Solutions B.V., Tritium NexGen Solutions B.V., three Tritium Power Solutions entities, and Horizon Power Solution L.L.C-FZ.

Four of the eight named businesses use the Tritium name: Tritium NexGen Solutions B.V. in the Netherlands and Tritium Power Solutions entities in the US, UK and Australia. The other four comprise Exicom-branded companies in Singapore and the Netherlands and Horizon entities in Malaysia and Dubai; no country-level revenue, asset or loss figures were given for the Rs 995.74 crore aggregate assets.

The auditor’s report identifies the legal entities but does not divide the Rs 224.55 crore half-year revenue or Rs 139.14 crore net loss among them. It also does not state what share of the six-month Rs 4.83 crore cash outflow arose in any particular country or business.

How do the overseas results compare with Exicom’s consolidated performance?

Exicom reported a consolidated net loss after tax of Rs 130.35 crore for the half year ended September 30, 2026, compared with a Rs 151.95 crore loss in the corresponding half year ended September 30, 2025. Consolidated revenue from operations rose to Rs 719.42 crore from Rs 487.04 crore over the same periods.

The separately disclosed overseas-subsidiary loss of Rs 139.14 crore was Rs 8.79 crore greater than Exicom’s Rs 130.35 crore consolidated half-year loss. This is a comparison of reported figures, not a measure of the subsidiaries’ direct contribution to the group result, because the subsidiary data are before consolidation adjustments and the consolidated results include other group entities and eliminations.

For the quarter ended September 30, 2026, Exicom’s consolidated revenue from operations was Rs 366.35 crore, up from Rs 281.73 crore a year earlier. Consolidated net loss after tax narrowed to Rs 56.78 crore from Rs 68.81 crore, while the eight subsidiaries’ quarterly loss after tax was Rs 64.56 crore.

What do Exicom’s segment figures show?

Exicom’s EV Charger segment recorded a loss before tax and interest of Rs 112.77 crore in the half year ended September 30, 2026, whereas Critical Power recorded a profit before tax and interest of Rs 20.26 crore. The segment disclosure does not allocate the eight overseas subsidiaries or their Rs 139.14 crore net loss between these two segments.

Consolidated EV Charger revenue rose to Rs 367.55 crore in the September 2026 half year from Rs 214.19 crore in the corresponding prior-year period. Critical Power revenue increased to Rs 351.86 crore from Rs 272.51 crore, but Exicom still reported a consolidated loss before tax of Rs 126.35 crore, compared with Rs 152.62 crore a year earlier.

At September 30, 2026, Exicom reported Rs 751.22 crore of consolidated segment assets in Critical Power and Rs 1,132.55 crore in EV Charger and unallocated assets combined. Total consolidated assets were Rs 1,883.77 crore, down from Rs 1,988.88 crore at March 31, 2026; the Rs 995.74 crore held by the overseas subsidiaries is already reflected within consolidated reporting and should not be added again.

How was Exicom’s overseas financial information reviewed?

Exicom’s statutory auditor, Khandelwal Jain & Co., said it did not itself review the interim financial information of the eight overseas subsidiaries. Other auditors reviewed those entities under regulations and auditing standards applicable in their respective countries, and their reports were furnished to Exicom’s management.

The overseas financial information was prepared under accounting principles generally accepted in the relevant countries, then converted by management to accounting principles generally accepted in India. Khandelwal Jain & Co. reviewed the conversion adjustments and said its conclusion on the consolidated statement, as it related to these subsidiaries, was based on other auditors’ reports and its own review procedures.

The auditor said its conclusion was not modified in respect of these matters. Exicom’s board approved the unaudited standalone and consolidated results on November 4, 2026, for the quarter and half year ended September 30, 2026; the review under Standard on Review Engagement 2410 was less extensive than an audit and did not express an audit opinion.

Conclusion

Exicom’s September 2026 disclosure shows that eight overseas subsidiaries were material to the consolidated financial position, with Rs 995.74 crore of assets, Rs 224.55 crore of half-year revenue and a Rs 139.14 crore net loss after tax. Their aggregate loss exceeded Exicom’s Rs 130.35 crore consolidated half-year loss, while group revenue increased year on year and the EV Charger segment reported a loss before tax and interest.

What to watch next is whether later disclosures resolve the absence of entity-level performance detail or identify how the eight subsidiaries are assigned between Critical Power and EV Charger. The November 4, 2026 filing provides aggregate data for the six months ended September 30, 2026, but does not disclose a subsidiary-level profitability target, country-level plan or turnaround timetable.