Exicom Tele-Systems Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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Exicom Tele-Systems' Board approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025), with the statutory auditor Khandelwal Jain & Co. issuing an unqualified limited review report. The Board extended the timeline for utilizing unutilized IPO proceeds from October 31, 2025 to March 31, 2026 — of the ₹400 crore IPO corpus, ₹291.82 crore has been deployed, leaving ₹108.18 crore unutilized, with the company citing ongoing plant optimization work at Hyderabad and synchronization of R&D with upcoming EV product rollouts. The auditor flagged that 8 foreign subsidiaries (including Tritium entities in the US, UK, Netherlands, and Australia) contributed ₹5,780.67 lakhs in revenues but reported a combined net loss of ₹(7,461.63) lakhs for the quarter. The Board also appointed M/s MZ & Associates as Secretarial Auditors for a 5-year term (FY2025-26 to FY2029-30), subject to shareholder approval.
Investors should note the substantial losses in overseas subsidiaries (largely Tritium operations) which materially weighed on consolidated profitability despite any standalone performance. The IPO proceeds extension signals slower-than-planned deployment of funds but is not unusual for recently listed companies — shareholders may seek clarity on the specific capex milestones.