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EXICOM IPO

Exicom Tele-Systems Limited
Start Date27-02-2024
Application Timing10am-5pm
Price Range₹135 - ₹142
Min Qty100
Min. Investment₹13500
Listing DateNA
Close Date29-02-2024

About Exicom Tele-Systems Limited

Incorporated in 1994, Exicom Tele-Systems manufactures Electric Vehicle Charger Systems and Critical Power Solutions for telecom sector and enterprise environments. 

They are amongst the first entrants in the EV Chargers manufacturing segment in India and amongst the market leaders, with a market share of 60% in residential charging and 25% in the public charging segments. They have a market share of 16% in the DC Power Systems market and are recognized as a leading player in the market for Li-ion Batteries for use in the telecom sector, with a market share of 10%.

ABOUT THE INDUSTRY

Indian EV industry is one of the fastest growing markets in the world with growth of over 130% from FY 2022. EV penetration is expected to grow across vehicle segments, i.e., two-wheelers, three-wheelers passenger vehicles, buses, and commercial vehicles. The EV PV and bus market is estimated to grow by nine times between FY ‘23 and FY ’28, at a CAGR of 50% to 60%. The telecom power systems market in India is expected to grow from Rs. 15 billion in FY ‘23 to Rs. 22 billion in FY ’28 at a CAGR of 8.50%.

Why To Invest in Exicom Tele-Systems Limited

Market leader in fastest growing EV charger systems and power backup systems for telecom sector. The IPO Net Proceeds will be utilised for:

  • Part-financing the cost towards setting up of production/assembly lines at the planned manufacturing facility in Telangana
  • Repayment of borrowings 
  • Part-funding incremental working capital requirements
  • Investment in R&D and product development
Financial Table
YearFY 2021FY 2022FY 2023
Operating Revenur (Rs. Cr)512.9842.8707.9
PAT (Rs. Cr)3.455.136.37
Strengths And Risks
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Market Leader: Exicom ia a market leader with an early-mover-and-learner advantage in the Indian EV Charger market, a fast-growing industry with by high entry barriers. Exicom has deployed over 35,000 EV chargers across 400 locations in India,
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Domain Expertise: Exicom has domain experience and know-how with a diversified product portfolio and a track record of demonstrated results. They focus on product innovation and engineering to align products with evolving technologies and changing customer requirements,
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Vertically Integrated Operations: Exicom's operations are vertically integrated with end-to-end product development capabilities from concept to design to engineering to testing, supported by our two dedicated R&D centres, in-house manufacturing at three manufacturing facilities in India at Solan and at Gurugram.
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established customer base: Exicom serves a diverse customer base of 350 with reputed names including Mahindra & Mahindra, MG Motors, JBM, JioBP Fortum Charge & Drive India Private Limited, BSNL, Jio Infocom etc. in telecom.
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EV Industry Dependent: Exicom's EV Charger Business is correlated with the continuing rapid adoption and demand for electric vehicles. The EV industry in India is at a nascent stage and characterized by rapidly changing technologies and increasing consumer choice, evolving govt regulation etc.
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Import Dependent: Exicom is dependent on global suppliers for the supply of raw materials and key inputs. If critical components or raw materials become scarce, they may incur delays in delivery of products which could impact he business.
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Evolving R&D Based Business: Exicom's operations are dependent on our continued research and development initiatives, and an inability to keep up with evolving industry trends, technological advancements, customer preferences may adversely affect the business.
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