EV stock engaged in designing, manufacturing, and servicing DC Power systems and Li-ion-based energy storage solutions hit a 5 percent upper circuit in the day’s trade upon signing MoU to develop and expand EV charging infrastructure.
Price Action
With a market capitalization of Rs. 3,024 Crores, the shares of Exicom Tele-systems Limited hit a 5 percent upper circuit at Rs. 250.25 per equity share, from its previous day’s close price of Rs. 534.25.
What Happened
Exicom Tele-systems Limited has signed a Memorandum of Understanding (MOU) with Mufin Green Infra Limited, to leverage the complementary strengths of both companies to create a robust supply chain of EV charging hardware and as well as setting up Charging Infrastructure.
It involves Exicom Tele-system manufacturing and supplying chargers equipped with its proprietary software as per industry standards and future-ready specifications, followed by Mufin Green Infra Limited installing & operating charging stations as per customer requirements.
This strategic partnership will target customers like Charge Point Operators, bus operators, state utilities, and other end-users to accelerate EV adoption with state-of-the-art charging solutions
About the Company
Exicom Tele-Systems Limited is a power management solutions provider that designs, manufactures, and services DC Power systems and Li-ion-based energy storage solutions. It provides overall energy management solutions at telecommunication sites in India and overseas.
It has over 10,000+ DC chargers successfully installed, across major key points for some of its major clients are Hero Vida, Ather Energy, and many others, along with a footprint spanning India, Southeast Asia, Europe, and the Middle East and over 70,000 chargers installed.
In the critical power segment, it has a market share of 16 percent in the DC power Systems and 10 percent in the Li-ion Battery applications for the telecom sector market. The business spans India, Southeast Asia, and Africa. It has a market share of 60 percent and 25 percent in the residential and public charging segments.
Financials and Ratios
Its revenue from operations declined by 15.34 percent from Rs.198.18 Crores in Q2FY24 to Rs. 167.78 Crores in Q2FY25, accompanied by a profit of Rs. 17.82 Crores to a loss of Rs. 17.03 Crores.
In terms of return ratios, it has reported a return on equity (ROE) of 5.16 percent and a return on capital employed (ROCE) of 6.47 percent. In terms of liquidity, it has reported a debt-to-equity ratio of 0.85.
Written by: Bharath K.S
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