Stock Price Movement and Market Context
On 24 Nov 2025, Exicom Tele-Systems touched an intraday low of Rs.116.4, representing its lowest price point in the past year and an all-time low for the stock. This level was reached following a 4.28% decline during the trading session, with the stock underperforming its sector by 3.86%. Over the last ten trading days, the stock has recorded a cumulative return of -17.15%, reflecting a persistent downward trajectory.
The stock is currently trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, indicating a broad-based weakness in price momentum. This contrasts with the broader market, where the Sensex opened 88.12 points higher and is trading near its 52-week high of 85,801.70, supported by a three-week consecutive rise and gains of 2.54% over that period.
Financial Performance and Profitability Trends
Exicom Tele-Systems’ financial results have reflected ongoing difficulties. The company has reported negative results for five consecutive quarters, with key profitability metrics showing contraction. The Profit Before Tax excluding other income (PBT less OI) for the most recent quarter stood at Rs. -73.01 crores, a decline of 25.7% compared to the average of the previous four quarters. Similarly, the Profit After Tax (PAT) for the quarter was Rs. -66.65 crores, down 33.7% relative to the prior four-quarter average.
Interest expenses for the nine-month period have risen to Rs. 43.77 crores, reflecting a 54.5% increase, which adds to the financial strain. The company’s ability to service debt remains constrained, with a Debt to EBITDA ratio of -1.00 times, underscoring the challenges in generating sufficient earnings to cover financial obligations.
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Long-Term Performance and Valuation Considerations
Over the past year, Exicom Tele-Systems has recorded a total return of -57.08%, a stark contrast to the Sensex’s 7.87% gain during the same period. The stock’s 52-week high was Rs.295.1, indicating a substantial decline from its peak. This underperformance extends beyond the last year, with the stock lagging the BSE500 index over the last three years, one year, and three months.
The company’s operating profit growth has averaged 8.40% annually over the past five years, a modest rate that has not translated into positive earnings momentum. Negative EBITDA levels further contribute to the stock’s risk profile, with profits falling by 68% over the last year. These factors have influenced the market’s assessment of the company’s valuation, which currently appears below historical averages.
Sector and Industry Comparison
Exicom Tele-Systems operates within the Heavy Electrical Equipment industry, a sector that has seen mixed performance in recent months. While the broader market and mega-cap stocks have shown resilience, this stock’s trajectory diverges significantly. The sector’s performance has been buoyed by select large-cap companies, whereas Exicom’s financial metrics and stock price have reflected ongoing headwinds.
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Summary of Key Concerns
The stock’s recent decline to Rs.116.4 highlights several ongoing concerns. The company’s financial results have shown persistent losses, with negative EBITDA and rising interest expenses. The inability to generate positive earnings and service debt effectively has contributed to a cautious market stance. Additionally, the stock’s performance relative to the broader market and sector peers underscores the challenges faced by Exicom Tele-Systems in regaining momentum.
Despite the broader market’s positive trend, Exicom Tele-Systems remains under pressure, with its stock price reflecting the cumulative impact of subdued profitability and valuation pressures. The sustained downtrend over the past ten days and the breach of all major moving averages indicate a continuation of the current market sentiment.
Market Outlook and Broader Context
While the Sensex is trading near its 52-week high and supported by bullish moving averages, Exicom Tele-Systems’ stock has diverged significantly from this trend. The Sensex’s 50-day moving average remains above its 200-day moving average, signalling a positive market environment overall. However, the company’s stock has not mirrored this optimism, reflecting company-specific factors that have weighed on its valuation and price performance.
Investors and market participants will continue to monitor the company’s financial disclosures and market developments closely. The stock’s current position at a 52-week low serves as a key reference point for assessing its near-term price action and relative performance within the Heavy Electrical Equipment sector.
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