Share price of India’s Leading EV Charger & Telecom Power solutions provider moved up by 10.8 percent on BSE to hit an intraday high at Rs. 283.95 in the trading session of Wednesday, after reporting FY24 financial results with a rise in net profit by 205.5 percent QoQ. 

With a market capitalisation of Rs. 3,254.41 crore, the shares of Exicom Tele-Systems Limited (ETL) closed in the green at Rs. 269.35, up by 5.15 percent, compared to its previous closing price of Rs. 256.15. 

The fluctuations in the share prices were observed after the company announced the financial results for FY24, through the recent filings with the stock exchanges on Tuesday post-market hours. 

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The revenue from operations stood at Rs. 301 crores in Q4 FY23-24, indicating a growth of 14.2 percent QoQ from Rs. 263.65 crore in Q3 FY23-24, but on a year-on-year basis, it declined by nearly 13.06 percent from Rs. 346.24 crore in Q4 FY22-23. 

Exicom witnessed a rise in the after-tax profit by 205.5 percent QoQ from Rs. 9 crore in Q3 FY23-24 to Rs. 27.5 crore in Q4 FY23-24, but fell by 0.4 percent YoY from Rs. 27.61 crore in Q4 FY22-23 to Rs. 27.5 crore in Q4 FY23-24. 

On a year-on-year basis, the consolidated Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 53 crore in FY22-23 to Rs. 112 crore in FY23-24, representing a growth of 111.3 percent. 

ETL has completed its IPO and equity shares of the company were listed on NSE and BSE on March 05, 2024, with a total equity infusion of about Rs. 364 crore. This has improved the group’s tangible net worth to nearly Rs. 700 crore as of Q4 FY23-24, as against Rs. 267.88 crore as of Q4 FY22-23. 

The group is planning to incur capex of around Rs. 160 crore in FY24-25 to set up a plant in Telangana; operations are expected to begin in November 2024 and will be entirely funded from equity. 

Incorporated in 1994 as Himachal Exicom Communications Limited, Exicom Tele-Systems Limited is engaged in the manufacturing of critical power components such as rectifiers, AC to DC converters, etc. and also offers energy storage solutions. 

ETL is a sustainable energy transition company enabling the electrification of transportation and energy stability of digital communication infrastructure.

The company is a leading Electric Vehicles (EV) Charger solutions player in India with market leadership in residential and public charging segments and a leading player for Li-ion Batteries and DC Power Mgmt. Systems for application in the telecommunications sector. 

Written by Shivani Singh 


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