About Company

• Exicom Tele-Systems Ltd (“EXICOM”) was incorporated on May 9, 1994, as “Himachal Exicom Communications Ltd”. The name was changed to “Exicom Tele-Systems Ltd” on August 11, 2008. The company’s promoters are NextWave Communications Pvt. Ltd and Anant Nahata. HFCL Ltd, which is listed on the Stock Exchanges, form a part of Promoter group of the company.
• EXICOM is an India headquartered power management solutions provider, operating under two business verticals, (i) Electric Vehicle Supply Equipment (“EV Charger(s)”) solutions business, wherein it provides smart charging systems for residential, business, and public charging use in India; and (ii) Critical Power Solutions business, wherein they design, manufacture and service critical digital infrastructure technology to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas (“Critical Power Business”).
• EXICOM was amongst the first entrants in the EV Chargers manufacturing segment in India. As of March 31, 2023, it had a leading market share of 60% in the residential charging segment and 25% public charging segments. Furthermore, in the Critical Power Business, the company has a market share of 16% in the DC Power Systems market and a leading player in the market for Li-ion Batteries for application in the telecommunications sector, with a market share of ~10% as of March 31, 2023.
• In the Critical Power Business, the Company has deployed 470,810 Li-ion Batteries for application in the telecommunications sector, equivalent to a storage capacity of over 2.10 GWH, as of September 30,2023. In the Electric Vehicle Supply Equipment Business, they had deployed over 61,000 EV chargers across 400 locations in India.
• EXICOM has a dedicated team of 18 employees focused on developing technology and innovative solutions. The company has relied on artificial intelligence ("AI”), machine learning, IoT and cloud computing technologies to develop the proprietary ChargeX charger management platform and Spin Control mobile application.
• EXICOM’s global presence is supported by the 5 Subsidiaries (including direct and indirect), Exicom Tele-Systems (Singapore) Pte. Ltd. in Singapore, Horizon Tele-System SDN BHD in Malaysia, Horizon Power Solutions DMCC and Horizon Power Solution L.L.C-FZ in U.A.E. and Exicom Power Solutions B.V in Netherlands.
• The company’s Revenues from Operations have grown at CAGR of ~17.48% between Fiscal 21-23 to ? 708 Crore and the EBITDA Margins have improved from 5.8% to 7.4% and PAT increased from ? 12.7 Crore to ? 31 Cr, during the same period. For 6 months ended September 30,2023 the company reported Revenues from Operations of ? 455 Crore, EBITDA Margins at 9.1% and PAT of ? 27.5 Crore. The company’s Return Ratios have improved with ROCE increasing to 10.9% in FY23 from 5.3% in FY21, while for 6 months ended September 30,2023 the ROCE stood at 9.2%.

Strengths

Competitive Strength 

• Market leader with an early-mover-and-learner advantage in the Indian EV Charger market, a fast-growing industry characterized by high entry barriers;
• Domain experience and know-how and diversified product portfolio with a track record of demonstrated outcomes in critical cases;
• Vertically integrated operations, backed by manufacturing capabilities, robust supply chain, significant research and development activities and sales and marketing initiatives;
• Significant product development and focussed engineering capabilities ;
• Track record of long-standing relationships with an established customer base;
• Experienced and qualified leadership and management team.

Business Strategies 

• Capitalize on Electric Vehicle Supply Equipment (EVSE) industry tailwinds, including through proposed expansion;
• Continue to invest in capabilities of product innovation, engineering, and design with focus on indigenisation;
• Increase penetration in existing markets, and expand into new overseas markets;
• Expand the product portfolio to increase sales to existing customers and cater to new customer industries and use-cases;
• Invest in digital transformation of the business operations to improve operational efficiencies and customer experience.

Company Promoters

Company Financials

Exicom Tele-Systems Limited Financial Information (Restated Consolidated)

Exicom Tele-Systems Limited's revenue decreased by -14.79% and profit after tax (PAT) rose by 24.07% between the financial year ending with March 31, 2023 and March 31, 2022.

Objects of the Issue

• Part-financing the cost towards setting up production/assembly lines at the planned manufacturing facility in Telangana
• Repayment/pre-payment, in part or full, of certain borrowings of the company
• Part-funding incremental working capital requirements
• Investment in R&D and product development
• General corporate purposes