Exicom Q2 loss narrows as standalone profit rises to Rs 7.80 crore

Exicom Tele-Systems Limited narrowed its consolidated loss after tax to Rs 56.78 crore in the quarter ended September 30, 2026, from Rs 68.81 crore a year earlier, as revenue from operations rose to Rs 366.35 crore; its standalone profit after tax increased to Rs 7.80 crore.

How did Exicom perform in the September 2026 quarter?

Exicom reported a narrower consolidated loss in the second quarter, or Q2, ended September 30, 2026, while its standalone profit rose from both the preceding and year-earlier quarters. Consolidated loss after tax was Rs 56.78 crore, compared with losses of Rs 73.57 crore in the quarter ended June 30, 2026 and Rs 68.81 crore in the quarter ended September 30, 2025.

Consolidated revenue from operations was Rs 366.35 crore in the September 2026 quarter, up from Rs 331.07 crore in June 2026 and Rs 281.73 crore a year earlier. Total income, which includes Rs 4.67 crore of other income, was Rs 393.01 crore, while total expenses were Rs 446.73 crore.

Standalone profit after tax was Rs 7.80 crore, against Rs 4.92 crore in the June 2026 quarter and Rs 5.92 crore in the September 2025 quarter. Standalone revenue from operations reached Rs 276.98 crore, compared with Rs 236.63 crore sequentially and Rs 228.38 crore a year earlier.

What drove Exicom's standalone profit increase?

Exicom's standalone revenue growth came from both Critical Power and EV Charger in the September 2026 quarter. Critical Power revenue was Rs 170.79 crore, up from Rs 161.48 crore a year earlier, while EV Charger revenue increased to Rs 106.19 crore from Rs 66.00 crore.

The standalone Critical Power segment reported a profit before interest and tax of Rs 11.18 crore, compared with Rs 7.74 crore in the September 2025 quarter. The standalone EV Charger segment reported Rs 10.31 crore on the same basis, up from Rs 7.96 crore, taking total segment results to Rs 21.49 crore from Rs 15.70 crore.

Standalone total expenses were Rs 273.31 crore, below total income of Rs 283.63 crore, resulting in profit before tax of Rs 10.32 crore. Finance costs were Rs 11.17 crore and depreciation and amortisation were Rs 10.77 crore, compared with Rs 10.92 crore and Rs 6.67 crore, respectively, in the prior-year quarter.

Current tax of Rs 1.77 crore and deferred tax of Rs 0.76 crore reduced standalone profit before tax to the Rs 7.80 crore profit after tax. The same standalone result included Rs 22.21 crore of employee-benefit expense, versus Rs 21.36 crore in the quarter ended September 30, 2025.

Why did Exicom remain loss-making on a consolidated basis?

Exicom remained loss-making on a consolidated basis because group expenses exceeded total income by Rs 53.72 crore before exceptional items and tax in the September 2026 quarter. The pre-exceptional loss before tax was narrower than Rs 72.04 crore in June 2026 and Rs 67.78 crore in September 2025.

Consolidated employee-benefit expense was Rs 51.50 crore, depreciation and amortisation expense was Rs 42.99 crore, finance costs were Rs 17.16 crore and other expenses were Rs 56.29 crore. Depreciation and amortisation was higher than Rs 27.05 crore a year earlier, while other expenses declined from Rs 64.24 crore.

The consolidated Critical Power segment recorded a profit before interest and tax of Rs 7.18 crore, compared with Rs 7.06 crore in the September 2025 quarter. The consolidated EV Charger segment recorded a loss before interest and tax of Rs 14.04 crore, which was lower than the Rs 68.60 crore loss in June 2026 but exceeded the Rs 61.57 crore loss a year earlier.

Eight subsidiaries included in the group accounts reported combined revenue of Rs 123.44 crore and a combined loss after tax of Rs 64.56 crore before consolidation adjustments for the September 2026 quarter, according to the auditor's review. One subsidiary also incurred Rs 59.07 lakh of one-time employee-related payments, including redundancy compensation and retention-plan bonuses, for organisational restructuring during the quarter.

What do Exicom's half-year cash flow and balance sheet show?

Exicom's consolidated loss after tax for the half year ended September 30, 2026 was Rs 130.35 crore, compared with Rs 151.95 crore in the corresponding 2025 period. Half-year consolidated revenue from operations increased to Rs 719.42 crore from Rs 487.04 crore, while standalone profit after tax was Rs 12.71 crore against a loss of Rs 1.84 crore.

Consolidated total assets were Rs 1,883.77 crore at September 30, 2026, down from Rs 1,988.88 crore at March 31, 2026. Consolidated equity fell to Rs 596.25 crore from Rs 651.29 crore, while current liabilities declined to Rs 863.50 crore from Rs 902.75 crore.

Consolidated current assets decreased to Rs 970.77 crore from Rs 1,088.42 crore over the six months. Trade receivables fell to Rs 318.45 crore from Rs 409.92 crore, and cash and cash equivalents declined to Rs 30.83 crore from Rs 35.39 crore.

Consolidated net cash from operating activities was Rs 71.38 crore for the half year ended September 30, 2026, compared with net cash used of Rs 62.60 crore in the prior-year period. Investing activities used Rs 99.96 crore, including Rs 58.07 crore spent on property, plant and equipment.

What is Exicom planning for the Tritium business?

Exicom has disclosed a proposed transaction involving its Tritium business through Exicom Power Solutions B.V., Netherlands, which ceased to be a wholly owned subsidiary on April 22, 2026. For the year ended March 31, 2026, Exicom Power Solutions B.V. contributed turnover of Rs 204.35 crore and a loss of Rs 291.63 crore, according to the disclosure.

On November 4, 2026, Exicom said it proposed to execute a non-binding term sheet setting out the broad framework and indicative terms of the transaction. It said no definitive agreement had been executed and no consideration had been received as of that date.

The proposed transaction is subject to buyer due diligence, definitive documents and customary closing conditions, and Exicom said it expects completion within the current financial year if those conditions are met. The company said it will seek shareholder approval through a special resolution under the Companies Act and the Securities and Exchange Board of India listing regulations.

Conclusion

Exicom's September-quarter results show a difference between the standalone and consolidated reporting bases. Standalone revenue rose to Rs 276.98 crore and profit after tax increased to Rs 7.80 crore, while consolidated revenue of Rs 366.35 crore still resulted in a Rs 56.78 crore loss, with the EV Charger segment reporting a loss before interest and tax at the group level.

The next disclosed event is the proposed Tritium-business transaction, for which Exicom expects completion within the current financial year only after due diligence, definitive agreements, shareholder approval and customary closing conditions. The filing also identifies the planned transition of manufacturing activities from the 75D Facility to Hyderabad and Solan, expected by November 15, 2026.