India’s EV charger market is projected to grow at a remarkable CAGR of 46.5 percent until 2030, driven by increasing electric vehicle adoption and significant investments. The market is expected to surpass 9,00,000 units annually by the decade’s end, with a strong focus on fast chargers and government initiatives improving infrastructure, aiming for a balanced EV-to-charger ratio by 2030. In this article, we will look at Exicom Tele-System which is a Market Leader in Home Charger EV and plans to expand their reach and double their revenue by 2030.
Price Movement
Exicom Tele-Systems’s stock in Friday’s session closed at Rs. 274.60 per share increased by 0.02 percent from the previous closing price of Rs. 274.55. The stock has delivered a return of around 22 percent in the past year and has outperformed the Nifty Index in the same period.
Business Segments
As per the recent September 2024 results, the company recognizes its revenue from operations from the Critical Power and EV Charger.
The Critical Power contributed around 70 percent and the remaining 30 percent from EV Charger. The profits or loss before tax and interest from Critical power which is profitable. However, the EV Charger has been under loss in the recent September and June Quarters on consolidated statement basis. However, the company was profitable in the previous year same quarter.
Future Outlook
The company expects its electric vehicle (EV) charger business to generate half of its annual revenue by 2030, according to CEO Anant Nahata. Exicom, which currently generates most of its revenue from lithium-ion batteries and power systems for telecom companies in India, Africa, and Southeast Asia since it started its EV charging business in 2019.
This sector has helped the company to earn around 2.43 billion rupees or USD 28.7 million in fiscal 2024, about a quarter of the company’s total revenue. Exicom plans to double this revenue by 2030 as India’s EV sector grows rapidly. To achieve this, it will begin producing EV chargers at a new plant in Hyderabad, increasing its production capacity. The company also aims to expand into markets like Europe, Southeast Asia, and the U.S.
Financial Performance
Their Q2FY25 results show revenue from operations of Rs. 153 crore which declined by 19.47 percent year on year, from Rs. 190 crore in Q2FY24 and a 39 percent decline from Rs. 252 crore in Q1FY25. Their net profit improved year on year, from a profit of Rs. 18 crores in Q2FY24 to a loss of Rs. 17 crores in Q2FY25. Quarterly, the profits stood at Rs. 18 crore.
The debt-to-equity ratio was 0.19 times increased from 0.57 times in FY23. The RoE stood at 13.41 and the RoCE stood at 19.52 percent as of FY24.
Shareholding Pattern
As of September 2024, the shareholding pattern includes promoters holding a share of 69.57 percent stake in Exicom Tele-Systems, Foreign Institutional Investors (FII) holding around 0.95 percent, Domestic Institutional investors (DII) standing at 6.49 percent, and public holdings standing at 22.99 percent.
About the company
Exicom Tele-Systems Limited was founded in 1994. It is a leading provider of power systems and electric vehicle (EV) charging solutions. They operate in two main segments which are Power Systems, offering uninterrupted power solutions for digital communication networks, and EV Charging Solutions, with over 61,000 AC and DC chargers deployed across India and Southeast Asia. Exicom focuses on innovation, quality, and sustainability, aiming to integrate advanced charging technologies into everyday life while fostering partnerships with automotive OEMs and charge point operators. Their commitment to renewable energy positions Exicom as a key player in the evolving energy landscape. The company has a market share of more than 50 percent in Home Chargers for EVs.
Written by Santhosh S
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