Price Movement and Market Context
On 1 Feb 2026, Exicom Tele-Systems Ltd opened with a gap down of -3.7%, hitting an intraday low of Rs.96.01, which also represents its all-time low. The stock managed to recover somewhat during the session, touching a high of Rs.102.53, a 2.84% gain from the low, and closed with a day change of +1.88%. This four-day consecutive gain has resulted in a cumulative return of 3.9% over the period. However, the stock remains below its 20-day, 50-day, 100-day, and 200-day moving averages, indicating sustained downward momentum despite short-term gains. It is trading just above its 5-day moving average, suggesting some near-term support.
In comparison, the broader market, represented by the Sensex, showed positive movement, opening 119.19 points higher and trading at 82,547.84, up 0.34%. The Sensex is currently 4.37% below its 52-week high of 86,159.02. Mega-cap stocks led the market rally, while Exicom Tele-Systems Ltd, a small-cap stock, lagged significantly behind.
Long-Term Price Performance
Over the past year, Exicom Tele-Systems Ltd has delivered a return of -57.06%, starkly underperforming the Sensex, which gained 7.52% during the same period. The stock’s 52-week high was Rs.253.95, highlighting the steep decline it has experienced. This underperformance extends beyond the last year, with the stock also lagging the BSE500 index over the last three years, one year, and three months, underscoring a prolonged period of subdued market confidence.
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Financial Performance and Fundamental Metrics
Exicom Tele-Systems Ltd’s financial indicators continue to reflect a challenging environment. The company has reported negative results for five consecutive quarters, with operating losses contributing to a weak long-term fundamental strength. Operating profit growth has been modest at an annualised rate of 8.40% over the last five years, which is insufficient to offset the losses and improve overall profitability.
Interest expenses for the nine months ended stood at Rs.43.77 crores, representing a sharp increase of 54.50%. Profit before tax excluding other income for the latest quarter was a loss of Rs.73.01 crores, a decline of 25.7% compared to the average of the previous four quarters. Net profit after tax for the quarter was a loss of Rs.66.65 crores, down 33.7% relative to the prior four-quarter average. These figures highlight the persistent pressure on earnings and the company’s struggle to return to profitability.
Debt and Valuation Concerns
The company’s debt servicing capacity remains constrained, with a Debt to EBITDA ratio of -1.00 times, indicating negative EBITDA and an inability to generate sufficient earnings to cover debt obligations. This metric signals elevated financial risk and contributes to the stock’s classification as risky compared to its historical valuation averages.
Over the past year, the stock’s profits have declined by 68%, exacerbating concerns about its financial health. The combination of falling earnings and a steep price decline has led to a Mojo Score of 3.0 and a Mojo Grade of Strong Sell, an upgrade from the previous Sell rating as of 26 May 2025, reflecting deteriorating fundamentals and market sentiment.
Institutional Investor Activity
Institutional investors have reduced their holdings by 0.66% over the previous quarter, now collectively holding 3.75% of the company’s shares. This decline in institutional participation may reflect cautiousness among investors with greater analytical resources, further underscoring the challenges faced by the stock in attracting sustained support.
Sector and Industry Positioning
Operating within the Heavy Electrical Equipment industry and sector, Exicom Tele-Systems Ltd’s performance contrasts with broader sector trends. While the sector has seen some recovery and stability, the company’s stock continues to underperform, indicating company-specific issues rather than sector-wide factors driving the price movement.
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Summary of Key Metrics
To summarise, Exicom Tele-Systems Ltd’s stock has reached a new low of Rs.96.01, reflecting a year-long decline of 57.06%. The company’s financial results remain under pressure with consecutive quarterly losses, rising interest expenses, and negative EBITDA. The stock’s Mojo Grade of Strong Sell and a Mojo Score of 3.0 indicate continued caution. Institutional investors have trimmed their stakes, and the stock trades below most key moving averages, signalling ongoing challenges in regaining market confidence.
While the broader market and sector have shown resilience, Exicom Tele-Systems Ltd’s performance remains subdued, highlighting the need for careful monitoring of its financial and operational developments.
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