Exicom Tele-Systems Ltd — Q3 FY26

Exicom Tele-Systems Ltd Q3 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=ITtAM1KFtCw Published: 3 months ago

0:01 1 second Ladies and gentlemen, good day and welcome to ExCom Teley Systems Limited Q3 FI26 earnings call hosted by Monarch 0:09 9 seconds Network Capital Limited. As a reminder, all participant lines will be in the listenon mode and there will be an 0:16 16 seconds opportunity for you to ask questions after the presentation concludes. This conference may contain forward-looking statements about the company which are 0:25 25 seconds based on the beliefs, opinions, and expectations of the company as on the date of this call. These statements are not the guarantees of future performance 0:34 34 seconds and involve risks and uncertaintities that are difficult to predict. Should you need assistance during this conference call, please signal an 0:41 41 seconds operator by pressing star 10 on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Rahul Dani. 0:51 51 seconds Thank you and over to you sir. 0:54 54 seconds Yeah, thank you Nisha. Good afternoon everyone. On behalf of Monarch Network Capitalist, it's my pleasure to host the senior management of Exiccom Tele 1:01 1 minute, 1 second System. Uh we have with us Mr. Anand Nata, managing director, CEO of the company and we have Mr. Saras Kana, CFO of the company. Uh we will start the 1:10 1 minute, 10 seconds call with opening remarks from the management and then move to Q&A. Thank you and over to you sir. 1:16 1 minute, 16 seconds Uh thank you Rahul. Uh good afternoon uh dear shareholders. Uh this is Anand Nhata, MD and CEO of Exiccom Tele 1:25 1 minute, 25 seconds Systems. I welcome you to our third quarter uh FI26 earnings call. Quarter 1:32 1 minute, 32 seconds three was another stable quarter for Exiccom where we delivered uh superior growth in quarter 3 compared 1:41 1 minute, 41 seconds to uh quarter 3 of last year and uh and and almost a similar quarter as quarter 2 of F526. 1:51 1 minute, 51 seconds It has standalone revenue at 234 crores, a bit of 16 crores and PAT of 3 and a half crores. 1:59 1 minute, 59 seconds uh on Pritium which was one of the big bold bets uh of uh the company. We are 2:06 2 minutes, 6 seconds working methodically on scaling revenues and turning around customer sentiment. 2:11 2 minutes, 11 seconds And today uh with all the work done we are not only eyeing to tridium's IITA break even later part of FI27 but also 2:20 2 minutes, 20 seconds now continuously strengthening revenues in IITA from current quarter Q4 FI26 onwards. Something we're very excited 2:28 2 minutes, 28 seconds by. So I'm going to take you through our details of uh uh both our businesses uh 2:35 2 minutes, 35 seconds and uh Tridium as well. Starting with critical power on page five of our investor presentation which was uh 2:43 2 minutes, 43 seconds uploaded a short while ago. Uh you know uh last year uh you know as you know critical power is heavily reliant upon 2:51 2 minutes, 51 seconds uh telecom infrastructure uh being created or being upgraded. That's where we get our business from. And last year 2:59 2 minutes, 59 seconds the rollout was quite timid uh because the capex had been done by Telos and the focus was ROI optimization. Also there 3:09 3 minutes, 9 seconds was various uh cost increases on account of steel power rentals. However, for 3:15 3 minutes, 15 seconds fiscal 27, the estimated capex plan uh which includes both new build and 3:21 3 minutes, 21 seconds upgrade of old sites is more than 1 lak 20,000 towers or sites by various telos 3:29 3 minutes, 29 seconds and to course as per our management estimates and discussions with our customers. 3:35 3 minutes, 35 seconds uh and uh this investment has already started from Q3 FI26 onwards and that's 3:43 3 minutes, 43 seconds why you see on a standalone basis there is almost a 100% jump in our revenues versus Q3 FI25 and about 2% jump in 3:53 3 minutes, 53 seconds revenues versus Q2 FI26 we did 164 crores of revenue in quarter 3 on a 4:00 4 minutes consolidated basis again there is a almost 100% jump in revenue 98% to be precise and similar revenues as uh uh as in Q2. 4:11 4 minutes, 11 seconds The open order position for critical power is strong. It's more than 1,400 crores uh which will be delivered over 4:19 4 minutes, 19 seconds the next uh 24 to 30 months uh maximum. 4:25 4 minutes, 25 seconds Uh on page uh six uh you see our product portfolio critical power which includes very high technology power conversion 4:33 4 minutes, 33 seconds modules uh which includes various systems uh which uh go in uh many parts 4:40 4 minutes, 40 seconds of the telecom network be it a switching center, a tower site, a renewable site or a very small uh cell Wi-Fi site at 4:49 4 minutes, 49 seconds crowded places like airports or railway station. We also do lithiumion batteries for telecom and uh and and controllers 4:58 4 minutes, 58 seconds to manage uh to manage all that or in a nutshell excom is a company which serves entire energy needs of the telecom market. 5:08 5 minutes, 8 seconds Key highlights of critical power in Q3 uh as listed in page seven our marquee project where our products 5:16 5 minutes, 16 seconds are grow going um you know in the bhatnet project that's a marquee project for us we're supplying hybrid UPS's 5:24 5 minutes, 24 seconds batteries uh smart track with many sensors as a solution to uh this critical government uh last mile and 5:33 5 minutes, 33 seconds midmile connectivity program for uh you know more than close to one and a half lakh from chariots. The continued 5:41 5 minutes, 41 seconds execution for key system integrators who have won this contract which includes uh RVNL uh HFCL uh NCC and now we have 5:51 5 minutes, 51 seconds secured formal purchase order from ITI as well. This represents u you know more than 50% market share uh of uh our 6:00 6 minutes products uh in in this uh program. uh we also secured uh as I was uh alluding to 6:07 6 minutes, 7 seconds large capex programs being started by telos and tower cos uh in alignment with that we have secured a very large 6:14 6 minutes, 14 seconds purchase order for DC power system from one of India's biggest telecom players 6:22 6 minutes, 22 seconds also uh you know and continuation to the ongoing projects and receipt of these large you know orders we're continuing 6:30 6 minutes, 30 seconds to work on some of the projects uh which highlight of our revenue in the last two years. One such project is uh what we 6:38 6 minutes, 38 seconds call as UCV project. This is uh to connect uncovered villages in the border areas, rural areas. Uh it's a USO funded 6:46 6 minutes, 46 seconds project where uh in Q3 we concluded the phase one uh supply of the project and 6:54 6 minutes, 54 seconds now uh phase two uh is going to start from uh you know FI27 onwards. 7:03 7 minutes, 3 seconds Battery energy storage is another area which as a company we've been looking at closely. While the market for this is 7:09 7 minutes, 9 seconds phenomenally huge uh but u you know it was important for us to have a differentiated offering and figure out where to play in this market. We are not 7:18 7 minutes, 18 seconds playing in the utility scale or distribution transmission scale but have products for commercial industrial category and this quarter we have been 7:27 7 minutes, 27 seconds able to make a breakthrough uh in uh this category with initial orders of about um you know uh 10 crores uh 7:36 7 minutes, 36 seconds secured and we hope to build on this in FI27. 7:40 7 minutes, 40 seconds As I mentioned for the domestic market, we have healthy and robust pipeline of almost uh 1,400 crores in terms of orders. 7:49 7 minutes, 49 seconds Our goal is not to just be active in the domestic market that will always be the center of uh our sales but it's 7:56 7 minutes, 56 seconds important to diversify markets and grow into exports. Uh where particularly in critical power we cater to Africa and 8:04 8 minutes, 4 seconds Southeast Asia. For these markets, we have launched some new products including a higher capacity battery, a 8:12 8 minutes, 12 seconds new uh outdoor uh rack platform uh which combines various components required for 8:19 8 minutes, 19 seconds the telecom energy infrastructure uh and always uh and also some technology solutions required for those specific 8:25 8 minutes, 25 seconds markets. Um we uh uh supplied a pilot lot to the biggest hour in Africa. uh in 8:32 8 minutes, 32 seconds FI26 the sales are out of pilot lot but in FI27 we uh expect this to be continued to uh continuous orders we 8:42 8 minutes, 42 seconds also strengthened our relationship with existing customers uh in countries of DIC Nigeria uh by bagging more market 8:50 8 minutes, 50 seconds share export revenue was at 10% of sales in FI27 our objective will be to grow to uh 8:58 8 minutes, 58 seconds grow exports to about 20% of the sales Next page. 9:04 9 minutes, 4 seconds Uh page number eight. Uh you know in line with uh investment being undertaken 9:11 9 minutes, 11 seconds for telecom uh energy infrastructure by various telos and tower companies combined with some of these 9:19 9 minutes, 19 seconds opportunistic programs which are either by DSNL or uh you know state utilities etc. uh 9:28 9 minutes, 28 seconds we think there are opportunities to make this critical power business uh into close to a thousand cr business going 9:36 9 minutes, 36 seconds forward for FI27 that's where we have set our target and eyes on um you know 9:43 9 minutes, 43 seconds this is uh not a revenue guidance but uh overall with the investment happening in this sector uh we are really hopeful to 9:51 9 minutes, 51 seconds grow uh you know uh you know substantially over current uh years uh performance in 10:00 10 minutes critical power as I've mentioned to you critical power is a cyclical business uh which uh uh you know in in low years uh 10:08 10 minutes, 8 seconds is 2 3% growth uh when uh uh there is stability in telecom investment uh means 10:16 10 minutes, 16 seconds not much investment but with uh in years where there is significant hour addition with the launch of new technology such 10:23 10 minutes, 23 seconds as 5G 6G the investment becomes multipl old and those are the years we sometimes grow 30 to you know 20 to 30%. And so on 10:31 10 minutes, 31 seconds an average you know this is a sector which is mature uh which grows by to 10% year on year but there are some years 10:39 10 minutes, 39 seconds which where this business will grow on you know 3 to 5% and there are some years where it will go grow 20 to 30% 10:46 10 minutes, 46 seconds and we hope FI27 is one of the latter uh type of years. 10:52 10 minutes, 52 seconds With this I want to uh move to uh a quick update on EV charging business. Uh this is on page 10. Uh so uh India uh 11:01 11 minutes, 1 second you know EV has been part of a political uh debate lately on a global level 11:08 11 minutes, 8 seconds especially in US uh where uh a lot of EV related subsidies are pulled back a lot 11:15 11 minutes, 15 seconds of EV related uh investments uh you know have been pulled back but on an 11:21 11 minutes, 21 seconds overall basis uh this is a market which continues to be very exciting is still growing even in US and mainly in Europe 11:29 11 minutes, 29 seconds but definitely in the developing world including India. Um you know you see in quarter 3 of 25 from 30,000 passenger 11:37 11 minutes, 37 seconds car sales we have reached to a level of 50,000 passenger car sales every quarter. uh that is similar to last 11:44 11 minutes, 44 seconds quarter as well and we have seen steady uh registration of buses as e e electric buses as well over the past uh four five 11:53 11 minutes, 53 seconds months the market deg grew by about 3% uh in uh you know quarter 3 versus 12:00 12 minutes quarter 2 however we grew at 4% uh on a standalone basis uh from uh about 66 12:08 12 minutes, 8 seconds crores to 70 crores from 67 crores to 70 crores on a consolid competitive basis which includes stium revenue are lower by about uh 4%. 12:23 12 minutes, 23 seconds As I page 11 as I spoke about the market uh you know the 12:29 12 minutes, 29 seconds political uh sentiment uh the general uh you know sentiment from state government from OEMs continues to be very positive. 12:40 12 minutes, 40 seconds There are many states where there is exemption of uh tax, registration tax etc on electric vehicles. Tamil Nadu being the latest. 12:50 12 minutes, 50 seconds There have been new launches of the vehicles. Uh as long as the new launches continue to be there, the sales of EVs will continue to be to rise. Everybody's 13:00 13 minutes looking forward to the uh Maruti launch of EV. Uh and there is higher and higher focus on localization as well. 13:09 13 minutes, 9 seconds Page 12. Uh this is one of the offerings which we informed to uh all our shareholders in quarter 2COM 1. Uh this 13:17 13 minutes, 17 seconds is uh not just supply of EV chargers but uh you know construction of the entire site which includes uh you know 13:26 13 minutes, 26 seconds planning, commissioning, civil and electrical works, hardware, implementing remote sensors and software for advanced 13:34 13 minutes, 34 seconds monitoring. uh you know uh all these things come together under our offering called Exiccom 1. uh this obviously 13:42 13 minutes, 42 seconds gives us higher revenue per site than just the hardware but also puts us in a a bracket where very few players 13:50 13 minutes, 50 seconds operate. uh this is uh found success uh and a lot of uptake particularly uh by 13:58 13 minutes, 58 seconds uh some of the OEMs uh as well now uh you know some of the CPOS as well who do not have their own internal 14:07 14 minutes, 7 seconds you know bandwidth and tools to execute such large projects. uh we are working on this model with at least three big 14:15 14 minutes, 15 seconds customers at this point and uh hope to expand uh this offering further in quarter 4 of you know FI26 the current 14:24 14 minutes, 24 seconds quarter key highlights of quarter 3 apart from exiccom 1 14:32 14 minutes, 32 seconds uh we installed the first tridium charger uh in India uh you know tridium is a product mainly aimed at US and Europe 14:40 14 minutes, 40 seconds uh however you know it may not be a mass product for India today but we hope for it to be a mass product in two three two 14:49 14 minutes, 49 seconds years from now and moreover um you know this first installation really paves the way for u you know showcasing and 14:58 14 minutes, 58 seconds pitching to various CPOS and OEMs particularly at very marquee sites u exports is a focus in EV charger as well 15:06 15 minutes, 6 seconds after a lot of hard work we received US certification for our uh spin AC chargers, the home chargers uh and 15:14 15 minutes, 14 seconds various discussions are you know initiated to start exporting this product and there have been some significant developments in Middle East 15:23 15 minutes, 23 seconds region as well. Uh we have added new customers across our portable charger 3.3 kW portable charger uh across 15:33 15 minutes, 33 seconds multiple new CPUs. Uh we also started DC charger for a two-wheeler OEM uh and uh 15:40 15 minutes, 40 seconds bagged business from some electric truck OEMs. Electric truck is not something you would have heard of u you know from 15:48 15 minutes, 48 seconds an electrification point of view uh as a focus of the industry in the previous years but now it's become a a big focus 15:56 15 minutes, 56 seconds area and interesting area for uh us as well. We have added business across these segments across new players which 16:05 16 minutes, 5 seconds means today we don't have dependency on one or two large customers but have many many customers across multiple segments to uh uh help us to grow our revenue. 16:16 16 minutes, 16 seconds Page 14 uh you know shows our entire product category. Uh this keeps on getting bigger uh you know uh every 16:24 16 minutes, 24 seconds couple of quarters right from portable charger as called as spinfree in the first column to a very uh high power 16:33 16 minutes, 33 seconds ultra fast chargers uh of you know tridium towards the end we have everything in between which means we are 16:39 16 minutes, 39 seconds able to cater to any kind of EV charger application today uh in uh in India. 16:47 16 minutes, 47 seconds Page 15 uh shows our uh uh revenue by geography. Uh it's an EV charger. We are a global company. The center of uh 16:56 16 minutes, 56 seconds revenue still being India at about almost 59 60% of our revenue comes from India. But because of Tridium uh 11% 17:04 17 minutes, 4 seconds comes from US, 20% comes from UK and Europe and about 10% comes from Australia 17:11 17 minutes, 11 seconds uh New Zealand. uh and uh we expect this uh percentages uh to significantly change in the upcoming year and that's 17:20 17 minutes, 20 seconds where uh you know uh I come to update on our subsidiary company Tridium. 17:26 17 minutes, 26 seconds So I'm I'm happy to say as management we feel that stabilization phase of tradeium is over now. We have spent 15 17:36 17 minutes, 36 seconds months a lot of you know funds to stabilize to go through the stabilization phase and now uh we are 17:44 17 minutes, 44 seconds entering into what we call as the growth phase of uh tridium. Quarter three results do not reflect that. But quarter 17:52 17 minutes, 52 seconds 4 FI26 revenue is estimated to be the first doubledigit uh million dollar revenue quarter for us since our 18:00 18 minutes acquisition. Uh it may not be a big number from a uh global industry perspective but it marks a definitely 18:08 18 minutes, 8 seconds very important milestone uh for Exiccom since uh acquisition. Uh this revenue is estimated at $10 million which is almost 2.4x 4x of what we did in quarter three. 18:21 18 minutes, 21 seconds Uh so what this means on a high level this will help us cut EITA losses in tridium to almost half compared to u you 18:29 18 minutes, 29 seconds know the current levels. U not just this quarter but uh you know you can see 18:35 18 minutes, 35 seconds signs of turn turnarounds in um you know uh in various other ways. At Trillium, 18:42 18 minutes, 42 seconds we uh bagged almost a $30 million, you know, combination of firm purchase 18:48 18 minutes, 48 seconds order and forecast for high-speed DCV charges from a large US customer from one of the Fortune50 US customers uh 18:57 18 minutes, 57 seconds with delivery spread over full calendar year 26 and the deliveries for this project has already started from January 19:05 19 minutes, 5 seconds 26. Um, you know, in addition to uh this last PO, we also have about $15 million 19:12 19 minutes, 12 seconds of bus loans uh as of uh January uh 31st. Uh all these things are building 19:20 19 minutes, 20 seconds up quickly now with the changing customer sentiment towards stridium because of the hard work we have put in uh service, spare parts uh maintenance 19:30 19 minutes, 30 seconds of chargers globally that has restored some of the confidence some of the lost confidence uh uh you know of customer 19:38 19 minutes, 38 seconds and uh now we are back in the playing ground. Uh so on one hand while uh you know revenues are entering the growth 19:47 19 minutes, 47 seconds phase on the second hand new products are also entering the market. Triplex was center of the product strategy when 19:54 19 minutes, 54 seconds we acquired tridium. Uh it got delayed by 6 months and launch but uh due to revision but uh I'm happy to say it it 20:03 20 minutes, 3 seconds will be one of the leading ultraast uh high power distributed charger out there in the market. Um as uh as of today uh 20:13 20 minutes, 13 seconds we are heavily invested uh not just in development but in procurement of material for initial build where we have 20:20 20 minutes, 20 seconds invested more than $3 million and traffic system will start production in our 20 countries in March of 26. Initial 20:29 20 minutes, 29 seconds deployments will be in uh will be focused uh on US and Europe customers uh which will help us to create larger momentum across our triflex uh pipeline. 20:41 20 minutes, 41 seconds While there is a big pipeline we are working on but uh we are in advanced stage of RFP of uh another you know 20:50 20 minutes, 50 seconds coincidentally $30 million worth annual business from a large and globally reputed uh CPO. regarding funding. Uh 21:00 21 minutes yeah uh because uh you know Tridium is a group of foreign companies which uh have a more expensive cost structure compared 21:08 21 minutes, 8 seconds to uh you know India generally. Uh so funding is important. um we uh secured 21:15 21 minutes, 15 seconds $10 million in equity capital from a UK based PE which we are drawing on as we speak as well as there are progressive 21:23 21 minutes, 23 seconds discussions ongoing with multiple other players for uh minority uh stake. 21:30 21 minutes, 30 seconds Uh so that's the general update at uh uh Tridium uh and while it has weighed on our balance sheet uh for the past four 21:39 21 minutes, 39 seconds quarters but at the same time I thank you for your support and uh with what we have as our pipeline and product 21:48 21 minutes, 48 seconds portfolio. I'm hopeful for a you know strong turnaround and aa break even in 21:54 21 minutes, 54 seconds Q4 of FY 27 and really building this into a global EV charging uh business from from from India. 22:04 22 minutes, 4 seconds Page 18 uh shares uh some marketing updates. We recently added 22:12 22 minutes, 12 seconds a tagline to our logo called beautifully engineered. Uh so ExCom is uh an you know engineeringdriven company, R&D 22:21 22 minutes, 21 seconds driven company and every product of ours uh at least has won in the market uh 22:28 22 minutes, 28 seconds because of its uh design because of its differentiation and we want to make sure this message of uh you know us taking 22:37 22 minutes, 37 seconds the hard work and beautifully engineering the product is uh you know becomes the theme of the company and is passed to all the stakeholders. 22:46 22 minutes, 46 seconds Um we also did marketing event for exiccom one the end to end uh integrated service offering that I uh spoke about 22:55 22 minutes, 55 seconds in addition to that there were uh various uh you know digital initiative partnerled initiatives 23:02 23 minutes, 2 seconds uh PR in initiative and uh participation in many exhibitions to uh promote global 23:09 23 minutes, 9 seconds brand visibility as well as uh industry uh leadership. 23:14 23 minutes, 14 seconds Um that's uh it for uh the update for uh our EV charger business. Uh I'll be 23:22 23 minutes, 22 seconds around to answer any question and answers that you may have. Uh with that I will pass it to Shiraz to update you on the financials. 23:32 23 minutes, 32 seconds Thank you. Thank you Anand and thank you so much. 23:34 23 minutes, 34 seconds Uh good evening everyone. My name is Shar Khan. I'm the CFO for Exiccom Tele Systems. Starting on the uh financial 23:41 23 minutes, 41 seconds highlights for Q3 FI26 standalone uh we did a turnover of 233 uh ks 23:50 23 minutes, 50 seconds slightly above the previous quarter which was 228 kores uh which is September ending and if you compare uh 23:57 23 minutes, 57 seconds quarter 3 of 25 with quarter 3 of 26 uh we have grown 58%. uh quarter 325 was 24:06 24 minutes, 6 seconds 147.7 KS and now it is uh this quarter was 233 KS. Primarily the growth came in 24:14 24 minutes, 14 seconds uh in critical power in this quarter uh which is 104% more than what it clocked last year uh 24:23 24 minutes, 23 seconds the same quarter in Q3 FI and the sales have been primarily because of the Bharat net project that we have industa 24:31 24 minutes, 31 seconds batteries ATC and so on so forth u u even even uh EV has grown at 4% yearon 24:40 24 minutes, 40 seconds year if you look at that across Gross margins have increased from last year Q325 of 33 crores in absolute terms to 24:49 24 minutes, 49 seconds 51.61 and the and the margin percentage in that last year uh quarter 3 25 was 22.5 24:59 24 minutes, 59 seconds remains pretty much the same. However, if we compare it over the previous quarter, it's dipped a little u and that's primary because of the product mix that we've had in this quarter. 25:09 25 minutes, 9 seconds We've had more sales in in in the battery segment and there the margins are a little more stressed than the 25:19 25 minutes, 19 seconds normal critical power and EV uh equipment that we make. The uh AIA has been marginally better at 16.1 million 25:27 25 minutes, 27 seconds against 15.2 million the previous quarter sorry 15.2 crores over 16.1 kores in 25:36 25 minutes, 36 seconds this quarter. And if you compare it from Q3 FI25 uh this is definitely far far better 25:44 25 minutes, 44 seconds continues to be positive uh last quarter and this quarter uh in spite of the fact that there's an exceptional item of the 25:51 25 minutes, 51 seconds new labor code that has kicked in uh very recently. 25:56 25 minutes, 56 seconds Uh moving on to the financial for uh YTD for standalone which is 9 months uh of 26:04 26 minutes, 4 seconds this uh this financial year starting April to December 25 and then comparing it from April uh to 26:12 26 minutes, 12 seconds December 24. Our revenue has clocked 14% increase. We are now at 612 crores while 26:20 26 minutes, 20 seconds the same period 9 months last year was 539 crores. So that's a healthy increase. critical power has increased uh contributing to this increase has 26:29 26 minutes, 29 seconds been through critical power you are seeing able to see the stake and EV has grown substantially by 32%. In fact, I'm 26:36 26 minutes, 36 seconds happy to share that almost what we did in 9 months uh last year uh 9 months in this year is equivalent to last year 9 26:44 26 minutes, 44 seconds months full year. So we we've clocked almost revenue of 190 crores um this quarter uh this 9 26:54 26 minutes, 54 seconds months the gross margin continued to be good and we clocked 161 crores against 157 crores uh between 9 months of this 27:02 27 minutes, 2 seconds year and 9 months of previous year. The margins are stretched this year primarily because of the product mix as I mentioned to you. A beta in absolute 27:11 27 minutes, 11 seconds terms in 9 months is 40 kores uh which is up 46% over the uh over previous year 27:19 27 minutes, 19 seconds y 27.4 kores and the pat marginally down 27:26 27 minutes, 26 seconds because of the uh because of the finance cost that has come in uh that we had taken loans for acquiring tritium. All 27:33 27 minutes, 33 seconds in all uh I think u this year is looking much more positive than the previous year. 14% increase we've already seen uh 27:40 27 minutes, 40 seconds in standalone business and the next quarter as Anan mentioned looks very positive. Moving on to consolidated 27:49 27 minutes, 49 seconds um you know financial um for the quarter our overall revenue was 276.7 27:57 27 minutes, 57 seconds crus 281.7 which is more or less flat uh but we consolidating and if we compare 28:04 28 minutes, 4 seconds 276.7 uh crores for the quarter of last year we are far better by 41% last year we clocked for this quarter 196.6 6 crores. 28:16 28 minutes, 16 seconds So the gross margin also are much better than last year quarter. uh we are at 77 uh crores against 55 crores last year in 28:26 28 minutes, 26 seconds this quarter and uh EITA remains pretty much flat over the last quarter and PAT 28:33 28 minutes, 33 seconds is of course been uh same again pretty much flat on this when we look at the consolidated numbers uh including 28:42 28 minutes, 42 seconds including the other subsidiaries of ours our revenue for the 9 months on a consolidated basis is six 764 crores. 28:53 28 minutes, 53 seconds Now this was 602 crores for the 9 months of last year which is a healthy 27% increase. Of course the revenue growth 29:02 29 minutes, 2 seconds of 27% increase has been contributed by critical power which has grown 8.5% yearonear for 9 months and EVSC which 29:10 29 minutes, 10 seconds has grown 65% yearonear and if we exclude treatium which has been added this year more specifically we are still grown by 38%. 29:19 29 minutes, 19 seconds In gross margin in absolute terms for the 9 months we are at 900 247 29:26 29 minutes, 26 seconds uh ks uh against 180 ks in the 9 months of previous year. So this again is a very improved way and our margins are 29:34 29 minutes, 34 seconds also higher as compared to the previous year which stand at 32.4%. 29:39 29 minutes, 39 seconds I beta of course because of tritium is stressed but as Anand mentioned EIA and 29:46 29 minutes, 46 seconds PAT we are looking at uh this quarter having much much higher sales and definitely the outlooks looks better in 29:54 29 minutes, 54 seconds the next financial year because of the confirmed orders that we have in hand. 30:00 30 minutes I'll now move on to uh give you a quick update on uh you know our plant which has got 30:08 30 minutes, 8 seconds started last quarter in Hyderabad the new plant for which the IPO had been uh uh had had come out. So happy to share 30:16 30 minutes, 16 seconds that the uh the overall uh production is happening well. U in 30:24 30 minutes, 24 seconds fact all the entire batteries are now getting manufactured only in the new plant while we ramp up uh the production 30:31 30 minutes, 31 seconds of critical power equipment and the uh electric vehicle chargers in our new plant. Uh so by this by the coming 30:40 30 minutes, 40 seconds quarter end which is March 26 we will have the plant in Hyderabad fully functioning uh with all cylinders and and doing all production. 30:52 30 minutes, 52 seconds Quick update in terms of uh deployment of IPO funds. Uh K is an agency which is uh you know certifying this. We've 31:00 31 minutes almost exhausted all our planned uh money that we had raised in IPO which and we got listed on the first March 24 31:09 31 minutes, 9 seconds that we raised about 400 crores. All of that is almost spent. There was some money that was earmarked for R&D. It 31:18 31 minutes, 18 seconds shows 17.94 as of 31st of December. This is further used in this quarter and u and while we had to use all of this by 31:26 31 minutes, 26 seconds this 31st of March, I think a little bit of it will flow into next quarter which is only giving us a little bit of more space or or money to spend on R&D which 31:36 31 minutes, 36 seconds is a continuous effort that goes on out here. In terms of the rights issue uh that came out last year in August that 31:43 31 minutes, 43 seconds again has been uh exhausted uh almost completely based on the plan and has been certified by care which is exactly 31:52 31 minutes, 52 seconds as per the uh as per the plan that we had raised for the reason that we with 31:58 31 minutes, 58 seconds that um I'll now u uh hand over it back for question and answers and Anand and I 32:05 32 minutes, 5 seconds will be there along with I mean I'll be there along with Anand to answer. 32:14 32 minutes, 14 seconds Thank you very much. We will now begin with the question and answer session. 32:18 32 minutes, 18 seconds Anyone who wishes to ask a question may press star and one on the touchtone telephone. If you wish to remove yourself from the question queue, you 32:27 32 minutes, 27 seconds may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we'll 32:34 32 minutes, 34 seconds wait for a moment while the question Q assembles. 32:39 32 minutes, 39 seconds The first question is from the line of third Aati Sai Serendra and retail investor. Please go ahead. 32:49 32 minutes, 49 seconds Hello sir. Hello. Hello. Yes sir. 32:55 32 minutes, 55 seconds Yes we are able to hear you. Please go ahead with your question. Hello sir. This is I have one question. 33:02 33 minutes, 2 seconds In consolidation numbers are material costs are almost unequal. Revenue losses are continuing. How many more quarters will this high cost structure continue? 33:12 33 minutes, 12 seconds By which quarter can we clearly expect the consolidation break even? Shareals have been waiting for the long time. 33:20 33 minutes, 20 seconds This is the my question. 33:22 33 minutes, 22 seconds Yes. So uh I really appreciate the you know sentiment over here and I agree uh uh on our consolidated break even is 33:31 33 minutes, 31 seconds something uh we are all waiting for even as management of the company. 33:35 33 minutes, 35 seconds [clears throat] 33:35 33 minutes, 35 seconds uh I spoke about the turnaround of uh traitium uh with perspective of stabilization phase over and growth 33:44 33 minutes, 44 seconds phase having started in Q4 FI26 which is the current quarter uh and we plan to build upon that every quarter. Uh I 33:53 33 minutes, 53 seconds expect uh you know we have publicly stated the you know management expectation of break even quarter as quarter 4 FI27. 34:02 34 minutes, 2 seconds uh however uh uh you know the the stepwise build up from where we are right now to quarter 4 FI27 and uh you 34:11 34 minutes, 11 seconds know hopefully uh you know we see a continuous improvement in that performance uh from Q4 onwards and all 34:21 34 minutes, 21 seconds the four quarters of FI27 as well. So uh so as said we are entering the growth 34:28 34 minutes, 28 seconds phase for tridium and uh u you know to to become a really strong global EV charger brand. 34:38 34 minutes, 38 seconds Thank you. The next question is from the line of Samra Jarav from Prosperity Wealth Advisor. Please go ahead. 34:48 34 minutes, 48 seconds Hi good evening. So uh my question is like you mentioned there is a robust order book of around 1435 cr what 34:56 34 minutes, 56 seconds proportion of this is executable in uh fi27 and what visibility do you have on margins 35:05 35 minutes, 5 seconds so uh this order book that you're referring to is only for critical power this does not include our EV charger 35:11 35 minutes, 11 seconds business uh this order book overall is executable over next 24 35:19 35 minutes, 19 seconds you know approximately 24 months. Uh very few very small portion of this order book may go to 30 months but most of it is executable over next 24 months. 35:29 35 minutes, 29 seconds uh okay you know uh uh our YTD critical 35:34 35 minutes, 34 seconds power revenues are uh roughly uh just 35:43 35 minutes, 43 seconds are are about 4 35:49 35 minutes, 49 seconds 25 uh 425 uh crores right uh so and and quarter four is usually our strongest uh 35:58 35 minutes, 58 seconds quarter. So [clears throat] you know we will you know see a year end 36:05 36 minutes, 5 seconds results soon but as I stated uh in the investor presentation based on the investment being undertaken by Telos and 36:14 36 minutes, 14 seconds tower codes to add uh new towers and replace some of the energy infrastructure with old towers. uh on 36:21 36 minutes, 21 seconds current year we should be expecting uh uh roughly 30% uh you know jump in 36:28 36 minutes, 28 seconds revenue. So those are results of new orders when as well as this order book which will be executed over the next 24 months. 36:37 36 minutes, 37 seconds Okay, great. Uh you also secured a uh 100 million sorry 10 million uh equity infusion from a UKBA form as per the 36:46 36 minutes, 46 seconds presentation. So how are these funds deployed or do you see any further dilution also on the equity? 36:53 36 minutes, 53 seconds No, this is uh in fact we should have mentioned that clearly. Uh this is not at the listed company level. Uh this is 37:01 37 minutes, 1 second only for tritium at uh at our holding company level of uh tritium. So excomm 37:11 37 minutes, 11 seconds purely for tritium itself. Nothing related to excom. No no no no. Uh yeah. Okay. 37:19 37 minutes, 19 seconds Yeah. Because Yeah. Okay. Last question. 37:22 37 minutes, 22 seconds Uh like we have this Trilex production which begins in March 26, right? Uh what is the expected ramp up timeline and how 37:30 37 minutes, 30 seconds soon can we contribute meaningful revenues for it? 37:34 37 minutes, 34 seconds Yeah. So, uh Tritium has you know on a high level it has two product lines older and newer. Right. So older is uh 37:42 37 minutes, 42 seconds you know I spoke about 30 million uh P forecast from a large customer uh and uh 37:50 37 minutes, 50 seconds there will continue to be those are for the current generation products of tridium and there will be more pipeline for that so it's not like the revenues 37:59 37 minutes, 59 seconds will only come when the new triplex will come. Tralex is center of the product strategy for future but it's a it's very 38:08 38 minutes, 8 seconds high power charger right so only sophisticated customers can deploy it the sites where that is deployed 38:14 38 minutes, 14 seconds requires months to plan so while uh you know every site may be worth uh you know three crores but uh but planning time is 38:24 38 minutes, 24 seconds long so we already have some backlog of trilex order and we expect uh you know 38:31 38 minutes, 31 seconds momentum to be created after initial uh units are deployed. I can't give a firm number on what triplex sales will be but 38:40 38 minutes, 40 seconds overall on trait uh you know uh you know if you if you [clears throat] have to achieve I beta break even by quarterfold 38:47 38 minutes, 47 seconds of uh uh you know 27 then the sales have to uh grow meaningfully. uh in our press 38:55 38 minutes, 55 seconds release we have mentioned we are looking at a uh you know 3x revenue scale up from uh uh compared to F526 39:04 39 minutes, 4 seconds so that's the only I can give you at this time okay so can you put a ballpark figure 39:11 39 minutes, 11 seconds for the pending orders for traffic or the other charging we don't disclose productwise uh pending 39:18 39 minutes, 18 seconds orders so uh you know number number like 10 uh 10 sites same side 100 sides. 39:27 39 minutes, 27 seconds I I can say we have mentioned this as of January uh as of January 1st our backlog has been about $15 million uh which 39:36 39 minutes, 36 seconds includes uh traffic backlog as well. Uh this has been mentioned in the investor. 39:42 39 minutes, 42 seconds Okay. Thank you. Thank you very much and best of luck for the future. Thank you. 39:49 39 minutes, 49 seconds Thank you. A reminder to all participants to press star and one to ask a question. 39:58 39 minutes, 58 seconds Ladies and gentlemen, if you wish to ask a question, you may press star and one. 40:09 40 minutes, 9 seconds The next question is from the line of Pratamesh Baham from BJ. Please go ahead. 40:16 40 minutes, 16 seconds Uh hi sir, good afternoon. Uh is there any plan to uh uh plan by ExCom to go in charge point operating? 40:27 40 minutes, 27 seconds No. Uh those would be our customers. So uh going into our customers business uh 40:34 40 minutes, 34 seconds will definitely not be a right idea and anyways like is a technology and a product company uh that's our focus. 40:43 40 minutes, 43 seconds That's what we know how to do. running a charge point operator business uh is a is an annuality business. It's capex heavy uh and uh uh that's not our DNA. 40:55 40 minutes, 55 seconds So long story short, we we don't have any plans to enter that business. Okay. Okay. Thank you. 41:06 41 minutes, 6 seconds Thank you ladies and gentlemen. We take that as the last question of the day. And now I would like to hand over the conference 41:15 41 minutes, 15 seconds to the management for the closing comments. 41:32 41 minutes, 32 seconds who has participated on this call and continued patience with our company. uh we are into modern technology, green 41:41 41 minutes, 41 seconds energy uh and uh very high-end power electronic business uh which may uh take 41:48 41 minutes, 48 seconds uh you know uh time to manifest on a global scale uh but uh I'm sure uh these 41:55 41 minutes, 55 seconds efforts will give results as you have seen on a standalone basis continuous steady performance uh and uh as uh we 42:03 42 minutes, 3 seconds have outlined uh you know we expect a much stronger performance uh in uh both Q4 as well as FI27. 42:10 42 minutes, 10 seconds Uh and now with Tridium in the growth stage uh hopefully uh we'll be able to 42:16 42 minutes, 16 seconds uh you know uh get to consolidated break even uh in later part of FI27 as well. 42:25 42 minutes, 25 seconds But uh our eye is not only on the break even in later part of the year but also continuous improvement quarter on 42:32 42 minutes, 32 seconds quarter uh starting with this quarter itself. So uh thank you for your patience and we are here to serve you and do the best we can. Thank you. 42:43 42 minutes, 43 seconds Thank you on behalf of Monach Network Capital Limited. That concludes this conference. Thank you for joining us. 42:50 42 minutes, 50 seconds And you may now delay your connect.