Exicom Tele-Systems Ltd IPO

Exicom Tele-Systems Limited was incorporated as Himachal Exicom Communications Limited, a public limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh situated at Jalandhar on May 9, 1994. The Company was granted a certificate of commencement of business on May 11, 1994, by the Registrar of Companies, Punjab, Himachal Pradesh and Chandigarh situated at Jalandhar. The name of the Company was changed to Exicom Tele-Systems Limited, pursuant to a resolution passed by its Shareholders on August 6, 2008, and a fresh certificate of incorporation consequent upon change of name issued by the RoC on August 11, 2008.

The increasing demand for mobile data and voice services, the growing adoption of 4G and 5G networks, and the need for reliable and uninterrupted power supply for telecommunication towers are the key factors driving the growth of the global telecommunication power market. The market size for telecommunication DC power systems (including hybrid systems) in India is estimated at ~ Rs. 15 billion for Financial Year 2023, with upgradation and replacement demand expected to drive the industry with 75% demand while balance 25% demand expected on account of new tower additions. The energy storage solutions market for telecommunications is valued at Rs. 19.5 billion in Financial Year 2023, while the market size for Li-ion battery energy storage systems in data centers is valued at Rs. 3.2 billion in Financial Year 2023. CRISIL MI&A estimates the current EV charging market in India to be valued at ~ Rs. 8.5 billion as of Financial Year 2023.

Incorporated in 1994, the company is an India headquartered power management solutions provider, operating under two business verticals, (i) its critical power solutions business, wherein it designs, manufactures and services DC Power Systems and Li-ion based energy storage solutions to deliver overall energy management at telecommunications sites and enterprise environments in India and overseas (Critical Power Business); and (ii) its electric vehicle supply equipment (EV Charger(s)) solutions business, wherein the company provides smart charging systems with innovative technology for residential, business, and public charging use in India (EV Charger Business), and which commenced commercial sales in the Financial Year ended March 31, 2019. The Company was amongst the first entrants in the EV Chargers manufacturing segment in India and as of March 31, 2023, it had a market share of 60% and 25% in the residential and public charging segments, respectively. Furthermore, in our Critical Power Business, we occupy a market share of 16% in the DC Power Systems market and are recognized in the market for Li-ion Batteries for application in the telecommunications sector, having a market share of approximately 10% as of March 31, 2023. Under its Critical Power Business, its products are categorized under indoor power systems, outdoor power systems, hybrid power systems and Liion Batteries and under our EV Charger Business, its products are categorized under AC chargers and DC fast chargers. Further, The Company provides its customers with a wide range of services covering installation and commissioning, maintenance and operations, supplying individual spare parts and repair and return. The revenue contribution of its two business verticals for the six months ended September 30, 2023 and September 30, 2022 and three preceding Financial Years.