Exicom reports Rs 73.57 cr Q1 loss as costs exceed revenue
Commodity and forex costs pressured fixed-price projects, while management outlined BESS, export and lithium-ion supply targets for FY27.
Filed 10 Aug 2026, 14:16 IST · EXICOM (EXICOM)
Key takeaways
- Exicom reported a consolidated operating loss of Rs 21.90 cr in Q1FY27 as expenses exceeded revenue.
- Interest of Rs 16.21 cr and depreciation of Rs 38.86 cr widened the loss before tax to Rs 72.04 cr.
- Management cited commodity and forex costs under fixed-price contracts while targeting a Rs 150 cr BESS order book in FY27.
Operating loss drove the Q1 result
Exicom's consolidated expenses exceeded revenue in Q1FY27, resulting in an operating loss of Rs 21.90 cr and an operating margin of -6.61%. Interest of Rs 16.21 cr and depreciation of Rs 38.86 cr further reduced profit before tax to a loss of Rs 72.04 cr. Other income of Rs 4.93 cr was not enough to offset these charges, and the company reported a net loss of Rs 73.57 cr, or EPS of -Rs 4.98.
Fixed-price projects faced commodity pressure
Management said commodity fluctuations and availability constrained project supply quantities and margins under fixed-price contracts. The company also said forex and commodity costs increased, with large volumes expected to offset part of the rise. This cost pressure is visible in the operating loss despite Exicom manufacturing and supplying smart enclosures, hybrid power systems and equivalent lithium-ion batteries during the quarter.
BESS and lithium-ion plans remain the key business focus
Management said Exicom is building a BESS offering for commercial, industrial and home applications and is targeting a Rs 150 cr BESS order book in FY27. The company also targets Rs 140 cr of export business in FY27 and said it expects to win more orders for Q4 FY27 supply. Management said large lithium-ion battery supplies are planned to begin from Q4 FY27, while its high-C-rate battery offering remains early-stage and is being developed with partners.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹331 cr |
| Other income | ₹5 cr |
| Expenses | ₹353 cr |
| Operating profit | ₹-22 cr |
| Operating margin (%) | -6.61% |
| Interest | ₹16 cr |
| Depreciation | ₹39 cr |
| Profit before tax | ₹-72 cr |
| Tax | ₹2 cr |
| Net profit | ₹-74 cr |
| EPS (₹) | ₹-4.98 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- Exicom manufactured and supplied smart enclosures, hybrid power systems and equivalent lithium-ion batteries in Q1.
Guidance & outlook
- The company targets a ₹150 crore BESS order book in FY27.
- The company targets ₹140 crore of export business in FY27.
- The company expects to win more orders for Q4 FY27 supply.
Expansion
- Exicom plans to begin large lithium-ion battery supplies from Q4 FY27.
New initiatives
- Exicom is building a BESS offering for commercial, industrial and home applications.
Competition
- Exicom has a 60% market share in the government project.
Problems & risks
- Commodity fluctuations and availability limited project supply quantities and margins under fixed-price contracts.
- Forex and commodity costs increased, with large volumes expected to offset part of the rise.
- The high-C-rate battery offering is still early-stage and is being developed with partners.
What to watch
- Whether operating margin improves from -6.61% as commodity and forex costs are absorbed.
- Progress toward management's Rs 150 cr BESS order book target for FY27.
- Whether large lithium-ion battery supplies begin from Q4 FY27 as management indicated.