Exicom loss narrows to Rs 56.7814 crore as revenue rises

Exicom Tele-Systems Limited reported a consolidated loss after tax of Rs 56.7814 crore for the quarter ended September 30, 2026, compared with losses of Rs 73.5731 crore in the preceding quarter and Rs 68.8122 crore a year earlier, while revenue from operations rose to Rs 366.3455 crore. Total income was Rs 393.0134 crore.

What did Exicom report in the September 2026 quarter?

Exicom reported consolidated revenue from operations of Rs 366.3455 crore in the three months ended September 30, 2026, up from Rs 331.0697 crore in the June 2026 quarter and Rs 281.7252 crore in the September 2025 quarter. Total income, including other income, reached Rs 393.0134 crore, against Rs 335.9983 crore sequentially and Rs 286.9552 crore a year earlier.

The consolidated loss after tax narrowed to Rs 56.7814 crore from Rs 73.5731 crore in June 2026 and Rs 68.8122 crore in September 2025. Loss before tax was Rs 54.3110 crore, compared with Rs 72.0353 crore in the preceding quarter and Rs 69.9376 crore a year earlier. The September 2026 quarterly results are unaudited.

Other income was Rs 4.6679 crore in the September 2026 quarter, versus Rs 4.9286 crore in June 2026 and Rs 5.2300 crore in the September 2025 quarter. Total expenses rose by Rs 38.7001 crore from the preceding quarter, while total income increased by Rs 57.0151 crore, resulting in a narrower loss before tax.

How did Exicom’s Critical Power and EV Charger segments perform?

Exicom’s Critical Power segment recorded consolidated revenue of Rs 174.6526 crore in the September 2026 quarter, compared with Rs 172.1210 crore in June 2026 and Rs 170.0197 crore in September 2025. Its segment result, stated before interest and tax, was a profit of Rs 7.1828 crore, down from Rs 12.7725 crore sequentially but above Rs 7.0578 crore a year earlier.

The EV Charger segment reported revenue of Rs 213.6929 crore, up from Rs 153.8576 crore in the preceding quarter and Rs 111.7085 crore a year earlier. Its segment result was a loss of Rs 14.0384 crore before interest and tax, narrower than the Rs 68.5989 crore loss in June 2026 and the Rs 62.5879 crore loss in September 2025.

The two segments together produced a loss of Rs 36.5556 crore before interest and tax in the September quarter, versus a loss of Rs 55.6261 crore in June 2026. Finance costs increased to Rs 17.1647 crore from Rs 16.2089 crore sequentially, while depreciation and amortisation rose to Rs 42.9859 crore from Rs 38.8588 crore.

Why did Exicom remain loss-making despite higher revenue?

Exicom remained loss-making because total expenses of Rs 446.7337 crore exceeded total income of Rs 393.0134 crore in the September 2026 quarter. The resulting loss before exceptional items and tax was Rs 53.7203 crore, compared with Rs 72.0353 crore in June 2026 and Rs 67.7768 crore in the September 2025 quarter.

Cost of materials consumed rose to Rs 269.9660 crore from Rs 210.2112 crore in the preceding quarter and Rs 231.6779 crore a year earlier. Employee benefits expense was Rs 51.5015 crore, compared with Rs 50.0935 crore sequentially and Rs 57.8789 crore a year earlier, while other expenses declined to Rs 56.2914 crore from Rs 76.7157 crore in June 2026.

The quarter included an exceptional item of Rs 0.9070 crore, compared with no exceptional item in June 2026 and Rs 2.1608 crore in September 2025. Current tax was Rs 1.7217 crore and deferred tax was Rs 0.7487 crore, leading to the Rs 56.7814 crore loss after tax. Basic earnings per share were negative Rs 3.66, versus negative Rs 4.98 in June 2026 and negative Rs 5.35 a year earlier.

How did Exicom’s standalone result compare with consolidated accounts?

Exicom’s standalone business was profitable in the September 2026 quarter, reporting profit after tax of Rs 7.7953 crore on revenue from operations of Rs 276.9822 crore. Standalone profit after tax was Rs 4.9181 crore in June 2026 and Rs 5.9157 crore in September 2025, while standalone revenue was Rs 236.6291 crore and Rs 228.3843 crore, respectively.

The consolidated accounts include eight subsidiaries identified in the auditor’s review report, with operations in Singapore, Malaysia, the Netherlands, the United States, the United Kingdom, Australia and Dubai. Before consolidation adjustments, these subsidiaries reported total revenue of Rs 123.4401 crore for the September 2026 quarter and a combined loss after tax of Rs 64.5585 crore.

For the half year ended September 30, 2026, standalone profit after tax was Rs 12.7134 crore, compared with a standalone loss of Rs 1.8363 crore in the comparable prior-year period. Consolidated loss after tax was Rs 130.3545 crore, narrower than Rs 151.9479 crore a year earlier, as consolidated revenue from operations increased to Rs 719.4152 crore from Rs 487.0424 crore.

What do Exicom’s cash flow and balance sheet show?

Exicom had consolidated total assets of Rs 1,883.7676 crore at September 30, 2026, down from Rs 1,988.8761 crore at March 31, 2026. Consolidated equity was Rs 596.2497 crore, compared with Rs 651.2937 crore at the previous financial year-end, while total current liabilities were Rs 863.4971 crore, down from Rs 902.7539 crore.

Consolidated cash and cash equivalents stood at Rs 30.8263 crore at September 30, 2026, compared with Rs 35.3903 crore at March 31, 2026. During the first half, operating activities generated Rs 71.3754 crore of cash, against an outflow of Rs 62.6033 crore in the prior-year half, while investing activities used Rs 99.9591 crore and financing activities used Rs 30.9583 crore.

The independent auditor reviewed the consolidated results under Regulation 33 of the Securities and Exchange Board of India listing regulations and reported no matter indicating a material misstatement. The report, dated November 4, 2026, said overseas subsidiary information had been reviewed by other auditors and converted by management to Indian accounting principles.

Conclusion

Exicom’s September 2026 results show that consolidated revenue increased to Rs 366.3455 crore and the EV Charger segment loss narrowed to Rs 14.0384 crore, but the group still recorded a Rs 56.7814 crore loss after tax. The Rs 7.7953 crore standalone profit contrasts with the consolidated outcome that includes eight subsidiaries.

The unresolved issue in the disclosed results is whether higher revenue can continue to reduce the consolidated loss while controlling costs. The next results will provide a comparison with September 2026 finance costs of Rs 17.1647 crore, depreciation and amortisation of Rs 42.9859 crore, and cash and cash equivalents of Rs 30.8263 crore.