Exicom Tele-Systems up 10% over fast charger launch: Details inside

The Harmony Gen 1.5 DC fast chargers offer power output from 60 kilowatts (KW) to 400 KW, the firm said in an exchange filing. It pointed out that the chargers are suitable for a wide spectrum of electric vehicles (EVs).

The company claims it has an efficiency rating exceeding 95% and has several features such as auto-charging and an artificial intelligence (AI)-driven remote management system.

“Made from premium quality steel, Exicom’s Harmony Gen 1.5 DC Fast Chargers guarantee durability for charger owners. The charger also comes with a credit card payment terminal for international markets,” the company said in an exchange filing.

Anant Nahata, chief executive officer of Exicom Tele-Systems said the company’s primary focus remains on creating a seamless, frictionless experience for users and infrastructure owners alike. “With over 4500 DC chargers successfully installed, we are bridging the demand-supply gap and empowering EV drivers to confidently embrace electric mobility,” he said.

The company cited a report by MarketsandMarkets which said that the global DC fast-charging market is projected to grow at a compounded annual growth rate (CAGR) of 37.6% between 2020 and 2025. “This growth is driven by several factors, including increasing adoption of EVs, government initiatives to promote EV charging infrastructure, and advancements in fast charging technology,” it said.

During the third quarter of fiscal year 2024, Exicom Tele-Systems announced a 39% year-on-year (YoY) growth in its net profit at ₹8.98 crore. The company’s revenue rose by 77% to ₹265.29 crore during the quarter.

Exicom Tele-Systems recently went public with an initial public offering (IPO) in February 2024. The company’s shares began trading on the bourses on March 5, 2024, and since then, the stock has gained over 24%.