Exicom Tele-Systems Limited (EXICOM)

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Exicom Tele-Systems Limited (EXICOM) · mywealthgrid

About

Exicom operates in heavy electrical equipment within the industrials sector, with a market capitalization of ₹2,111 Cr. The company's standalone operations are profitable, consistently delivering 6–10% operating margins, but consolidated results are weighed down by significant losses at the subsidiary or associate level, resulting in negative company-level profitability and a -43.34% return on equity.

Face value: ₹10

Market cap

₹2,102 Cr

P/E

—

P/B

3.2×

Dividend yield

ROE

-43.3%

ROCE

-17.9%

Debt / equity

0.68

OPM

-9%

EPS (TTM)

₹-19.0

Book value

₹46.8

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Consolidated net losses of ₹50–74 Cr per quarter despite standalone profitability (e.g., Jun 2026: standalone ₹4.92 Cr profit vs consolidated ₹73.57 Cr loss) indicate severe and structural drag from subsidiaries.
Company-level negative ROE of -43.34% and consolidated operating margin of -8.97% reflect persistent unprofitability; verify whether subsidiary losses are cyclical or permanent impairments.
Consolidated operating margin volatility ranging from -11.68% to +0.07% creates earnings unpredictability; verify cash generation and liquidity.
Minimal institutional shareholding (0.51% FII + DII combined) suggests limited institutional confidence; verify whether this signals material risks.

Generated analysis · source review pending

Growth drivers

Standalone operations generated ₹4.92 Cr net profit with 8.82% OPM in Jun 2026; growth could come from scaling ₹230–280 Cr quarterly revenue base while maintaining this margin profile.
Consolidated quarterly operating losses of up to ₹73.57 Cr (Jun 2026) are primarily a subsidiary drag; margin recovery in consolidated operations could unlock significant profitability without revenue growth.
₹280–390 Cr quarterly consolidated revenue in heavy electrical equipment indicates sector exposure; verify order pipeline, capex-cycle participation, and contract backlog to assess growth potential.

Generated analysis · source review pending

632 historical price candles were omitted because the exchange source has not been verified.

₹151.1-1.2%1Y

Quick read

rule-based

Pros

+Revenue CAGR of 17.6% over the last 3 years
+High promoter holding of 65.2% with no pledge

Cons

−Low return on equity of -15.5% (3-yr avg)
−Weak interest coverage of -3.5×
−Promoter holding fell 4.3 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

63/100

Business quality: 13
Growth: 85
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Bharat Heavy Electricals LimitedBHELBHEL	₹1,46,596 Cr	₹1,54,783 Cr	₹35,993 Cr	₹3,383 Cr	6.9%	₹2,432 Cr	4.7%	6.8%	6.3%	119
Hitachi Energy India LimitedPOWERINDIAPOWERINDIA	₹1,39,553 Cr	₹1,39,553 Cr	₹9,163 Cr	₹1,424 Cr	15.4%	₹1,150 Cr	12.1%	28.8%	21%	-42
Cg Power And Industrial Solutions LimitedCGPOWERCGPOWER	₹1,38,443 Cr	₹1,38,443 Cr	₹12,821 Cr	₹1,638 Cr	13.1%	₹973 Cr	9.7%	26.2%	20.4%	48
Siemens Energy India LimitedENRINENRIN	₹1,18,724 Cr	₹1,18,724 Cr	₹9,436 Cr	₹2,024 Cr	19.3%	₹1,488 Cr	14.1%	33.8%	29%	-175
Ge Vernova T&D India LimitedGVT&DGVT&D	₹1,08,882 Cr	₹1,08,882 Cr	₹6,712 Cr	₹1,757 Cr	27.1%	₹1,305 Cr	19.9%	73.2%	55.3%	90
Suzlon Energy LimitedSUZLONSUZLON	₹53,473 Cr	₹53,737 Cr	₹17,429 Cr	₹3,019 Cr	18.1%	₹3,144 Cr	18.9%	31.7%	40.6%	117
Thermax LimitedTHERMAXTHERMAX	₹40,058 Cr	₹42,346 Cr	₹10,839 Cr	₹870 Cr	9.6%	₹593 Cr	6.7%	15.7%	13.7%	-0
Schneider Electric Infrastructure LimitedSCHNEIDERSCHNEIDER	₹30,495 Cr	₹30,939 Cr	₹2,920 Cr	₹336 Cr	12.8%	₹184 Cr	7.4%	28.5%	31.8%	61
Azad Engineering LimitedAZADAZAD	₹18,481 Cr	₹18,938 Cr	₹638 Cr	₹240 Cr	37.4%	₹139 Cr	22.2%	12.4%	9.1%	1,720
Triveni Turbine LimitedTRITURBINETRITURBINE	₹16,849 Cr	₹16,849 Cr	₹2,253 Cr	₹428 Cr	20.7%	₹336 Cr	16%	35.7%	26.3%	8
Karamtara Engineering LimitedKARAMTARAKARAMTARA	₹13,225 Cr	₹14,255 Cr	₹4,312 Cr	₹498 Cr	11.6%	₹229 Cr	5.3%	27.2%	20.8%	—
Atlanta Electricals LimitedATLANTAELEATLANTAELE	₹13,200 Cr	₹13,247 Cr	₹2,001 Cr	₹367 Cr	18.6%	₹224 Cr	10.9%	34.8%	21.7%	74

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	708	1,020	868	1,152
COGS	518	728	582	764
Gross profit	190	292	286	388
	138	180	323	491
	52	112	-37	-103
OPM %	7.4%	11%	-4.3%	-9%
Depreciation	16	19	56	116
Interest	19	19	43	56
	15	19	31	6
Profit before tax	8	93	-105	-269
Tax	-0	29	5	5
Tax %	-4.8%	31.4%	4.5%	1.8%
	8	64	-110	-274
PAT margin %	1.1%	6.3%	-12.7%	-23.8%
EPS (₹)	0.9	6.7	-9.1	-20.4
EPS adjusted (₹)	11.1	5.3	-9.1	-19.7
Annual report	—	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	7	7	121	121	139
Reserves	—	225	601	493	512
Minority interest	—	—	0	—	—
	—	118	30	456	442
	—	355	261	599	896
Total equity & liabilities	—	705	1,013	1,668	1,989
	100	79	92	342	604
CWIP	—	0	20	78	0
Investments	—	1	1	1	1
	—	625	899	1,248	1,384
Total assets	—	705	1,013	1,668	1,989

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	28	-169	-87
	8	-286	-489	-155
	-16	317	614	224
Net cash flow	-5	60	-44	-18
Free cash flow	-14	-9	-612	-286
CFO / Operating profit %	4.9%	25.4%	—	—

Compounded sales growth

7 years: —
5 years: —
3 years: 18%
1 year: 33%

Return on equity

7 years: —
5 years: —
3 years: -17%
Last year: -42%

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Critical Power	641.82	38.28	844.17	585.29	258.88	14.79
EV Charger	509.91	-235.15

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	26.9%	28.6%	32.9%	33.7%
EBITDA margin %	7.4%	11%	-4.3%	-9%
EBIT margin %	5.1%	9.2%	-10.7%	-19.1%
PAT margin %	1.1%	6.3%	-12.7%	-23.8%
Working capital
Receivable days	162	79	140	130
Inventory days	90	98	177	193
Payable days	199	101	133	171
NWC days	54	76	184	152
Leverage
Current ratio	1.54	3.32	1.74	1.21
Debt to EBITDA	2.25	0.27	—	—
Debt to equity	0.51	0.04	0.74	0.68
Interest coverage	2.7	5.8	-1.4	-3.5
Asset turnover	1	1.01	0.52	0.58
Return ratios
Return on assets %	1.1%	6.3%	-6.6%	-13.8%
Return on capital employed %	15.3%	20.7%	-6.7%	-17.9%
Return on equity %	3.5%	8.9%	-17.9%	-42.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.57%	69.57%	69.57%	69.57%	69.57%	69.57%	69.5%	66.47%	66.47%	66.47%	65.2%
	3.12%	1.53%	1%	0.95%	0.73%	0.6%	0.49%	0.52%	0.07%	0.2%	0.2%
	15.93%	10.19%	8.49%	6.49%	5.65%	3.8%	3.82%	3.88%	3.68%	3.46%	0.31%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	11.38%	18.71%	20.94%	22.99%	24.05%	26.03%	26.19%	29.13%	29.78%	29.87%	34.29%
No. of shareholders	—	—	—	—	—	—	—	1,49,863	1,42,966	1,36,496	1,39,051

Promoter holding down 4.37 percentage points since Dec 2023.

122 deals · 5 Mar 2024 – 19 Jun 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
19 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	6,96,430	₹171.77	₹11.96 Cr
19 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	6,65,823	₹172.40	₹11.48 Cr
18 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	8,21,128	₹170.30	₹13.98 Cr
18 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	7,03,660	₹169.62	₹11.94 Cr
16 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	20,73,616	₹166.44	₹34.51 Cr
16 Jun 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	20,61,225	₹167.03	₹34.43 Cr
16 Jun 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	20,55,710	₹167.16	₹34.36 Cr
16 Jun 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	20,41,644	₹167.67	₹34.23 Cr
16 Jun 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	19,38,316	₹167.77	₹32.52 Cr
16 Jun 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	19,38,316	₹167.66	₹32.50 Cr

1–10 of 122

1 / 13

Mr. Himanshu BaidNon-Executive - Non Independent Director-Chairperson
Mr. Anant NahataExecutive Director-CEO-MD
Mr. Vivekanand KumarExecutive Director
Mr. Subhash Chander RustgiNon-Executive - Non Independent Director
Mrs. Karen Wilson KumarNon-Executive - Independent Director
Mrs. Mahua AcharyaNon-Executive - Independent Director
Mr. Manoj Kumar KohliNon-Executive - Independent Director
Sangeeta KarnatakCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Exicom Tele-Systems Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results10 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

117 announcementsExport CSV

1 Oct 2026, 12:05 pmCompany Update

Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS

Allotment of ESOP / ESPS PDF

29 Sept 2026, 3:41 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

28 Sept 2026, 5:41 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

31 Aug 2026, 9:29 pmCompany Update

Disclosure Under Regulation 30 Of SEBI Listing Regulations

General PDF

31 Aug 2026, 2:18 pmCompany Update

Clarification On Significant Volume Movement In Company''s Shares

General PDF

31 Aug 2026, 12:48 pmCompany Update

Clarification sought from Exicom Tele-Systems Ltd

Clarification

28 Aug 2026, 6:33 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

27 Aug 2026, 4:40 pmCompany Update

Dispatch Of Letter To Shareholders (Non-Email Case) Providing Web-Link(S) Of Notice And Annual Report

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 12:05 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF
29 Sept 2026, 3:41 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

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Exicom Tele-Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Return on equity

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

No fund holdings on record

Compounded sales growth

Return on equity

Segment results

Critical Power · revenue

Exicom Tele-Systems Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

No fund holdings on record

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

Segment results

Critical Power · revenue

1

1