With the electric vehicle (EV) revolution gaining momentum in India, Exicom Tele-Systems emerges as a potential trailblazer in the primary market space. The company’s prospective Initial Public Offering (IPO) slated for the end of February signals a significant development in the EV charging solutions landscape.
Business Operations and Market Position
Exicom Tele-Systems operates in two pivotal domains: electric vehicle charging solutions and critical power solutions for telecommunication and enterprise sites. In the electric vehicle segment, the company offers smart charging systems catering to residential, business, and public charging needs. Notably, Exicom Tele-Systems commands a commanding 60% market share in residential and a notable 25% share in public charging segments.
IPO Details and Fundraising
The company aims to raise approximately ₹430 crore through its IPO, with ₹330 crore earmarked for fresh issuance of shares. This infusion of funds is poised to bolster Exicom Tele-Systems’ capabilities and expansion initiatives, driving further innovation and market penetration in the burgeoning EV ecosystem.
Financial Performance and Growth Trajectory
Exicom Tele-Systems has exhibited robust financial performance, with revenues soaring to ₹708 crore in FY23 from ₹513 crore in FY22. Notably, the electric vehicle charging solutions segment accounts for a significant portion, contributing nearly 32% to the company’s revenue. Moreover, the company’s profitability has witnessed substantial growth, with a 24% increase in profit after tax in FY23 and a remarkable 50% surge in FY22.
Strategic Growth Initiatives and Order Book
The company’s forward-looking approach is evidenced by its burgeoning order book, particularly in the electric vehicle charging solutions and critical power businesses. The total order value from the EV charging solutions segment surged to ₹295 crore in FY23 from ₹78 crore in FY21, underscoring the increasing demand for Exicom Tele-Systems’ offerings. Concurrently, orders from the critical power business reached ₹552 crore by the end of FY23, reflecting the company’s diversified revenue streams and strong market position.
Conclusion: Driving Innovation in the EV Ecosystem
Exicom Tele-Systems’ impending IPO marks a pivotal moment in India’s EV landscape, with the company poised to reinforce its leadership position in electric vehicle charging solutions. With a proven track record of excellence, robust financial performance, and strategic growth initiatives, Exicom Tele-Systems is primed to navigate the dynamic EV market terrain and catalyze the transition towards sustainable mobility in India and beyond.