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Revenue
₹277 Cr
verified against source
Revenue YoY
58%
reported change
EBITDA
₹16.1 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Exicom delivered a strong Q3 FY26 with standalone revenue of ₹233 crore, up 58% YoY, driven by a 104% surge in critical power revenues from Bharat Net and large telecom orders. EBITDA stood at ₹16.1 crore, while PAT was ₹3.5 crore. The critical power order book is robust at ₹1,400 crore, executable over 24 months. EV charging grew 4% YoY to ₹70 crore. The key highlight is Tridium's turnaround: Q4 FY26 revenue is estimated at $10 million (2.4x Q3), with a $30 million order from a Fortune 50 customer. Management targets Tridium EBITDA breakeven by Q4 FY27. Risks include Tridium's cash burn and margin pressure from product mix shift toward batteries.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets critical power business to become close to ₹1,000 crore in FY27, driven by telecom capex cycle.
- Management expects Tridium to achieve EBITDA breakeven in the later part of FY27 (Q4).
- Q4 FY26 revenue estimated at $10 million, a 2.4x increase over Q3 FY26.
- Exports targeted to grow from 10% to 20% of sales in FY27, driven by Africa and SE Asia.
Risks flagged
- Tridium's high cost structure continues to weigh on consolidated profitability; $10M equity infusion secured but further dilution possible.
- Higher battery sales in critical power are compressing gross margins; EBITDA margin dipped sequentially due to mix.
- Triplex production starts March 2026 but revenue contribution is uncertain; management declined to provide specific order backlog.
Key quotes
- We feel that stabilization phase of Tridium is over now. We have spent 15 months a lot of funds to stabilize and now we are entering into what we call as the growth phase.
- Our goal is not to just be active in the domestic market... it's important to diversify markets and grow into exports.
- We are not playing in the utility scale or distribution transmission scale but have products for commercial industrial category.
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