Exicom Tele Systems Ltd
NSE: EXICOM · Heavy Electrical Equipment · sector
₹126.42NSE close 2026-10-26
Key numbers
Market cap₹1,758 cr
Price₹126.42
52w high / low₹189 / ₹76
P/E–Sector median 27.8x
P/B2.7xSector median 5.4x
Book value₹46.8
Dividend yield–Sector median 0.19%
ROE-41.1%Sector median 18.8%
ROCE-18.5%Sector median 21.4%
OPM-7.1%Sector median 15.1%
Debt / equity0.68xSector median 0.09x
EV/EBITDA–Sector median 21.4x
Interest cover-3.6x
Current ratio1.21x
Sales growth 3y–Sector median +22.1%
Profit growth 3y–Sector median +27.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹64 cr vs borrowings ₹442 cr (FY26): borrowings are higher by ₹378 cr.
- Operating profit covered interest -3.6x in the last 12 months.
- 2.83% of the promoters' shares are pledged (1.9% of all shares).
- Promoter holding fell by 1.27 percentage points in a year, to 65.20% (2026-09-30).
- Operating cash flow was below net profit in 2 of the last 3 years (FY25, FY24).
- Net loss in 8 of the last 8 quarters.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Debtor days went from 79 (FY24) to 130 (FY26).
- No dividend in the last 3 financial years.
- Price ₹126.42 on 2026-10-26: -33.2% from the 52-week high, +67.2% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹343.80 · low ₹83.16
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 153 | 197 | 266 | 205 | 282 | 277 | 388 | 331 |
| EBITDA | -15 | -31 | -16 | -51 | -35 | -34 | -0 | -22 |
| OPM % | -9.5% | -15.9% | -6.2% | -24.7% | -12.4% | -12.3% | -0.1% | -6.6% |
| Other income | 14 | 6 | 3 | 8 | 5 | 7 | 2 | 5 |
| Net profit | -17 | -49 | -62 | -83 | -69 | -68 | -54 | -69 |
| EPS (₹) | -1.41 | -4.05 | -5.15 | -6.87 | -5.35 | -5.12 | -4.03 | -4.98 |
| Revenue YoY | +83.7% | +40.7% | +46.1% | +61.2% | ||||
| Profit YoY | – | – | – | – |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|
| Revenue | 1,020 | 868 | 1,152 | 1,277 |
| EBITDA | 112 | -37 | -120 | -91 |
| Net profit | 64 | -110 | -274 | -260 |
| EPS (₹) | 6.70 | -9.11 | -20.36 | -19.48 |
| Revenue growth | -14.9% | +32.7% | +55.6% | |
| Profit growth | -272.1% | – | – | |
| Dividend / share (₹) | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | – | – | +55.6% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -34.9% (2y) | -5.2% |
Balance sheet
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Shareholders' equity | 722 | 614 | 651 |
| Borrowings | 30 | 456 | 442 |
| Cash & equivalents | 360 | 220 | 64 |
| Total assets | 1,013 | 1,668 | 1,989 |
| Fixed assets | 57 | 166 | 325 |
| Capital work in progress | 20 | 78 | 0 |
| Investments | 1 | 1 | 1 |
| Receivables | 221 | 333 | 410 |
| Inventory | 196 | 282 | 404 |
| Payables | 202 | 213 | 357 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Cash from operations | 28 | -169 | -87 |
| Cash from investing | -286 | -489 | -155 |
| Cash from financing | 317 | 614 | 224 |
| Capex | 44 | 604 | 319 |
| Free cash flow | -16 | -773 | -405 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| ROE % | 8.9% | -17.9% | -42.1% |
| ROCE % | 15.0% | -5.8% | -19.5% |
| Debtor days | 79 | 140 | 130 |
| Inventory days | 98 | 177 | 193 |
| Payable days | 101 | 133 | 171 |
| Cash conversion cycle (days) | 76 | 184 | 152 |
| Working capital days | 217 | 173 | 59 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 65.20% |
| FIIs | 0.97% |
| DIIs | 0.25% |
| of which Mutual funds | 0.25% |
| Public (non-institutions) | 33.59% |
| Quarter | Mar 2025 | Jun 2025 | Jul 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 69.57% | 69.50% | 66.47% | 66.47% | 66.47% | 66.47% | 65.20% | 65.20% |
| Promoter group | % |
|---|---|
| Nextwave Communications Private Limited | 54.72% |
| HFCL Limited | 5.44% |
| Satellite Finance Private Limited | 5.04% |
| Anant Nahata | 0.00% |
| Mahendra Nahata | 0.00% |
| Neha Nahata | 0.00% |
| Priyanka Sanghi | 0.00% |
| Kamal Oswal | 0.00% |
| Manisha Oswal | 0.00% |
| Rishabh Oswal | 0.00% |
| Abhinav Oswal | 0.00% |
| Krishiv Nahata | 0.00% |
| Aariv Nahata | 0.00% |
| Mahendra Nahata HUF | 0.00% |
| MN Ventures Private Limited | 0.00% |
| Public holders above 1% | % |
|---|---|
| Belgrave Investment Fund | 3.74% |
1,34,745 shareholders. Pledged: 2.83% of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| EXICOM | ₹1,758 cr | – | 2.7x | -41.1% | -18.5% | -7.1% | – | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Critical Power | ₹642 cr | 55.7% | ₹38 cr | 6.0% |
| EV Charger | ₹510 cr | 44.3% | ₹-235 cr | -46.1% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-07-07 | Rights | Rights 3:20 @ Premium Rs 133/- |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Critical Power (CP): Manufacturing & Selling of Power Systems for conversion of AC power to DC power
- Electric Vehicles Supply Equipment (EVSE): Manufacturing & Selling of EV chargers to automobile players
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | EXICOM |
| BSE code | 544133 |
| ISIN | INE777F01014 |
| Face value | ₹10.0 |
| Incorporated | 1994-05-09 |
| Website | www.exicom.com |
| Plants (India / abroad) | 4 / 1 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.