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Exicom Tele-Systems Ltd (EXICOM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544133 NSE: EXICOM Electric Equipment | Small Cap | Exicom Tele-Systems Share Price

₹141.90 5.75 (4.22%)

As on 12-Jun'26 16:59

Exicom Tele-Systems Ltd (EXICOM)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544133 NSE: EXICOM Electric Equipment | Small Cap | Exicom Tele-Systems Share Price

₹141.90 5.75 (4.22%)

As on 12-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹1,974 Cr.
Current Price
₹141.9
52-Week Low / High
₹76 / 207
TTM EPS
₹1
TTM Sales
₹895 Cr.
Book Value per Share
₹67
P/E Ratio
145.46
Higher than its 5-year historical median
Industry PE
55
Price to Book (P/B)
2.12
Lower than its 5-year historical median
Price to Sales (P/S)
2.21
Lower than its 5-year historical median
EV/EBITDA
23.09
In line with its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
3.26%
Underperforms industry median
Return on Capital Employed (ROCE)
7.27%
Underperforms industry median
Return on Assets (ROA)
1.82%
Operating Profit Margin
5.3%
Net Profit Margin
2.78%
Gross Profit Margin
6.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-13.14%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-65.46%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-68.48%
Asset Quality
Promoter Holding
66.47%
Pledged shares (%) of Promoter's holding (%)
2.78%
Reserves
₹792 Cr.
Equity
₹139.1 Cr.
Face Value
₹10
All Time Low / High
₹75.80 / 510.46

Exicom Tele-Systems stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Fair

Price Trend

Strong
Q.1 Is Exicom Tele-Systems Ltd a good quality company?
Exicom Tele-Systems Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Exicom Tele-Systems Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Exicom Tele-Systems Ltd vs industry peers?
Exicom Tele-Systems Ltd revenue CAGR is 22.26%, compared to the industry median CAGR of 13.01%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Exicom Tele-Systems Ltd?
Promoters hold 66.47% of the Exicom Tele-Systems Ltd, with 2.78% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Exicom Tele-Systems Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -22.88% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Exicom Tele-Systems Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 10.6%12.3%17.2%19.6%-11.9%-3.7%22%21.7%25.1%7.3%-
Value Creation
Index
-0.3-0.10.20.4-1.9-1.30.60.60.8-0.5-

Growth Parameters

Sales 146187274346275309336516866752895
Sales YoY Gr.-27.3%46.6%26.4%-20.4%12.2%8.5%53.7%67.9%-13.1%-
Adj EPS 1.41.62.81.6-4.2-1.43.23.85.21.51
YoY Gr.-20.7%70.6%-42.5%-359.4%NANA19.4%35.4%-71.7%-
BVPS (₹) 11.613.217.519.11515.315.916.750.45267
Adj Net
Profit
8.613.125.114.4-37.4-12.528.734.364.818.314
Cash Flow from Ops. -13.338.314.621.534.4-16.816.28.79.718.9-
Debt/CF from Ops. -4.812.92.71.3-5.8612.23.124.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 19.9%22.3%30.9%-13.1%
Adj EPS 0.9%NA-22.9%-71.7%
BVPS18.1%28.2%48.6%3.3%
Share Price - - - -24.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
11.212.5188.7-24.3-9.120.423.416.62.81.7
Op. Profit
Mgn %
11.613.59.86.3-15.9-1.98.610.513.35.37.8
Net Profit
Mgn %
5.979.24.2-13.6-4.18.66.77.52.41.5
Debt to
Equity
0.70.30.30.30.30.70.70.70.10.70.1
Working Cap
Days
275244238264355333353235163302157
Cash Conv.
Cycle
1051038485135936252407644

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales146187274346275309336516866752
Operating Expenses + 130161249324319315307465752713
Manufacturing Costs115711301916203634
Material Costs80104153217193213206348589535
Employee Cost 19243245535046536582
Other Costs 20285652433338446262
Operating Profit 17252522-44-6295111439
Operating Profit Margin (%) 11.6%13.5%9.0%6.3%-15.9%-2.0%8.6%9.9%13.2%5.2%
Other Income + 111629361438181946
Exceptional Items 0000000000
Interest 5669111618171938
Depreciation 5798161615161821
Profit Before Tax 8132433-35-2335379627
Tax -00-1181-1364306
Profit After Tax 9132515-36-1129326621
PAT Margin (%) 5.9%7.1%9.3%4.3%-13.2%-3.5%8.7%6.3%7.7%2.8%
Adjusted EPS (₹)1.41.62.81.6-4.0-1.23.33.65.31.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Exicom Tele-Systems - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 89122158172135138143151633653
Share Capital 2021777777121121
Reserves 69100150165128131136143512533
Debt +6337415644989810530417
Long Term Debt3820131186670727238
Short Term Debt251728453732283323179
Minority Interest0000000000
Trade Payables344792128132168156137201195
Others Liabilities 13229236132815657113
Total Liabilities 1992282993793734364784489211,379

Fixed Assets

Net Fixed Assets +20616178987298779092
Gross Block5098104128160142197159185208
Accumulated Depreciation303743516271998295116
CWIP 271111121152279
Investments 182081070774250
Inventories313877131118110127116185137
Trade Receivables80801169999133115128192266
Cash Equivalents 5581111242125315179
Others Assets 19232851398510091113376
Total Assets 1992282993793734364784489211,379

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -1338152234-171691019
PBT 8132433-35-2335129627
Adjustment 101227162729-5383323
Changes in Working Capital -3015-31-1943-17-10-41-115-21
Tax Paid -2-3-5-90-5-40-5-11
Cash Flow From Investing Activity + -26-24-12-26-11-28149-286-438
Capex -22-21-9-25-11-17-189-21-17
Net Investments 00000-128-1-251-146
Others -4-2-3-111241-14-275
Cash Flow From Financing Activity + 39-15-26-2546-23-16317385
Net Proceeds from Shares 15200000004001
Net Proceeds from Borrowing 00000023-24231
Interest Paid -3-8-7-9-9-14-17-18-17-36
Dividend Paid 0000000000
Others 27-26415-1660-80-42189
Net Cash Flow 0-002-127241-34

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)12.3614.6619.268.98-23.69-7.7920.8622.1416.963.26
ROCE (%)10.5612.2817.1619.6-11.86-3.6822.0221.6825.127.27
Asset Turnover Ratio0.880.941.051.020.730.760.731.131.350.67
PAT to CFO Conversion(x)-1.442.920.61.47N/AN/A0.550.280.150.9
Working Capital Days
Receivable Days159.90144.40128.70113.30130.80136.80134.9084.7063.30109
Inventory Days73.2062.4075.90109.70164.80134.60128.6084.4059.6076.70
Payable Days184.90141.20164.50184.80245.80257.20286.50153.30104.80135.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.003.053.053.053.053.052.782.782.78
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Exicom Tele-Systems Ltd FAQs

The current trading price of Exicom Tele-Systems on 12-Jun-2026 16:59 is ₹141.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 11-Jun-2026 the market cap of Exicom Tele-Systems stood at ₹1,973.5 Cr

The latest P/E ratio of Exicom Tele-Systems as of 11-Jun-2026 is 145.5.

The latest P/B ratio of Exicom Tele-Systems as of 11-Jun-2026 is 2.12.

The 52-week high of Exicom Tele-Systems is ₹207.2 and the 52-week low is ₹75.80.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Exicom Tele-Systems is ₹895 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Exicom Tele-Systems Ltd is a average quality company.

The key valuation ratios of Exicom Tele-Systems Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Exicom Tele-Systems Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Exicom Tele-Systems Ltd

Exicom Tele-Systems Limited was incorporated as ‘Himachal Exicom Communications Limited’, a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh, situated at Jalandhar on May 9, 1994. The Company was granted a certificate of commencement of business on May 11, 1994, by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh, situated at Jalandhar. The name of the Company was changed to ‘Exicom Tele-Systems Limited’, pursuant to a resolution passed by its Shareholders on August 6, 2008, and a fresh certificate of incorporation consequent upon change of name issued by the RoC on August 11, 2008.

The company is an India headquartered power management solutions provider, operating under two business verticals, (i) its critical power solutions business, wherein it designs, manufactures and service DC Power Systems and Li-ion based energy storage solutions to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas (Critical Power Business); and (ii) its electric vehicle supply equipment (EV Charger) solutions business, wherein it provides smart charging systems with innovative technology for residential, business, and public charging use in India (EV Charger Business) and which commenced commercial sales in the Financial Year ended March 31, 2019. 

The company was amongst the first entrants in the EV Chargers manufacturing segment in India and as of March 31, 2023. Furthermore, in its Critical Power Business, it occupies a market share of 16% in the DC Power Systems market and is recognized in the market for Li-ion Batteries for application in the telecommunications sector. It aims to be an impact business contributing to the sustainable energy transition by enabling electrification of transportation, and energy stability of digital communication infrastructure.

Its Critical Power Business delivers overall energy management at telecommunications sites and enterprise environments. Under this business vertical, it offers a diversified portfolio of DC power conversion systems (DC Power Systems) and Li-ion based energy storage solutions to deliver back-up power during grid interruptions (Li-ion Batteries or Energy Storage Solutions) and has deployments in India, South East Asia and Africa. Moreover, it leveraged its nearly three decades of domain experience and know-how in power conversion, energy management and de-carbonization solutions, along with tapping into its existing manufacturing and supply chain operations, to commence its EV Charger Business in 2019, which provides smart electric vehicle (EV) charging products and solutions.

Business area of the company 

The company is an India headquartered power management solutions provider, operating under two business verticals- (i) critical power solutions business; and (ii) its electric vehicle supply equipment (EV Charger) solutions business.

Products of the company 

Critical Power Business (DC Power Systems)

  • Indoor power system
  • Outdoor power system
  • Hybrid power system

Critical power Business (Li-ion Batteries)

EV Charger business

  • AC chargers
  • DC chargers

Awards, accreditations and recognitions 

  • 2018: Awarded the ‘Energy Storage Company of the Year’ at the Energy Storage India 2018 Conference, Expo and Gala Awards.
  • 2019: Awarded the ‘EV Infrastructure Company of the Year’ at the Industry Excellence Awards, 2019 by India Energy Storage Alliance.
  • 2019: Awarded the ‘Moving Towards a Greener Transportation’ at the 3rd ASSOCHAM Auto Forum & Awards, 2019 by ASSOCHAM India.
  • 2020: Received ISO 14001:2015 and ISO 45001:2018 accreditation for the scope of manufacturing and supply of electric vehicle charger, SMR, SMPsbased power plants, centralized battery & energy management solutionsfor Gurugram Facility I, Corporate Office, R&D centre and Solan Facility. 
  • 2020: Awarded the ‘Company of the Year - EVSE’ at the EV ChargeIndia Awards, 2020 by EMobility.
  • 2020: Awarded the ‘EV Charging Infrastructure Company of the Year’ at the 4thIndustry Excellence Awards, 2020 by India Energy Storage Alliance.
  • 2022: Awarded the ‘Company of the Year - EV Infrastructure OEM’ at the 5th Industry Excellence Awards, 2022 by India Energy Storage Alliance
  • 2023: Received ITAF 16949:2016 accreditation for design and manufacturing of electric vehicle chargerfor Gurugram FacilityI, R&D centre and Corporate Office. 
  • 2023: Received ISO 9001:2015 accreditation for manufacture, supply, installation, commissioning & service of electric vehicle charger, SMR, SMPs based power plants, centralized battery & energy management solutionsfor Gurugram Facility I.
  • 2023: Received ISO 9001:2015 accreditation for manufacturing of SMR & SMPs power plants for its Solan Facility.
  • 2023: Received ISO 14001:2015 and ISO 45001:2018 accreditation for manufacturing and supply of electric vehicle charger, SMR, SMPs based power plants, centralized battery & energy management solutions for its Gurugram Facility I, Corporate Office, R&D centre and Solan Facility.
  • 2023: Received ISO 9001:2015 accreditation for design, manufacture and in-house service of lithium-ion battery pack for stationary application for Gurugram Facility II.
  • 2023: Received ISO 14001:2015 accreditation for design, manufacture and in-house service of lithium-ion battery pack for stationary application for Gurugram Facility II.
  • 2023: Received ISO 45001:2018 accreditation for design, manufacture and in-house service of lithium-ion battery pack for stationary application for Gurugram Facility II.
  • 2023: Awarded the ‘Star Charger Manufacturer of the Year’ at the India EV Awards, 2023 by Franchise India.
  • 2023: Awarded the ‘Going Extra Mile Award’ at Annual Supplier Conference by Tata Motors.

History and milestones

  • 1994: Incorporation of the Company.
  • 1995: Commenced manufacturing of DC Power Systems at the erstwhile Solan facility.
  • 2008: Change of name of the Company to ‘Exicom Tele-Systems Limited’.
  • 2012: Incorporation of its wholly owned subsidiary, Exicom Tele-Systems (Singapore) Pte. Ltd., in Singapore.
  • 2012: Incorporation of its indirect subsidiary, Horizon Tele-Systems SDN BHD, in Malaysia.
  • 2013: Commenced trading of Li-ion batteries.
  • 2016: Commenced manufacture of DC Power Systemsat Gurugram FacilityI.
  • 2022: Core membership of Charging Interface Initiative (international charging standard body) obtained. 
  • 2022: Started manufacturing of EV Chargersat Gurugram Facility I. 
  • 2022: Divestment of its business and assets related to the manufacturing and service of the Li-ion batteries of electric vehicles on a slump sale basis to Exicom Energy Systems Private , a member of its Promoter Group.
  • 2023: Commenced manufacture of Li-ion batteries at Gurugram Facility II.
  • 2023: Incorporation of its wholly owned subsidiary, Horizon Power Solutions L.L.C-FZ, in Dubai, United Arab Emirates.
  • 2024: Incorporation of its wholly owned subsidiary, Exicom Power Solutions B.V., in Netherlands.

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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