Exicom Tele-Systems: 50% wallbox market share

Exicom Tele-Systems (NSE: EXICOM) makes EV chargers and critical power systems for telecom and data centres. It has sold over 215,000 EV chargers globally and holds a 50% share in India’s passenger vehicle home wallbox segment. What happened: Q1 FY27 consolidated revenue rose 61.2% YoY to Rs 331.1 crore. EV charger revenue grew 49.7% to Rs 153.9 crore, accounting for 46.5% of the total. EBITDA loss narrowed to Rs 21.9 crore (-6.6% margin) from Rs 38.6 crore (-18.8%) a year ago. Net loss shrank to Rs 73.6 crore from Rs 83.1 crore in Q1 FY26. The total consolidated order book exceeded Rs 1,400 crore. Why it matters: Exicom added 15 new CPO accounts in Q1 FY27, confirmed 180-plus DC chargers for delivery by October 2026, and booked Rs 50-crore-plus in repeat orders from existing CPOs. It launched a Type-7 charger for a large two-wheeler OEM and renewed a supply agreement with a large commercial truck OEM. Exports reached 10-plus new countries across Europe, South America, South Asia and Western Asia, lifting exports to 15% of EV segment revenue from 8% a year earlier. New Hyderabad production lines are being commissioned; the AC charger run rate is set to grow 50% over three months, with AC utilisation at 100%, DC at 65% and PCBA at 90-100%. What I am watching: EBITDA breakeven management targets over the next two quarters, export order conversion from the Rs 16-17 crore pipeline, and DC charger utilisation climbing toward AC levels. My stance: Revenue growth is strong and the losses are narrowing fast. The 50% wallbox share and rising CPO repeat orders are both encouraging. Breakeven within two quarters is the inflection test. I do not hold a position in Exicom Tele-Systems at the time of writing. This is not investment advice.