Latest news with #HimanshuBaid
Business Standard
19 hours ago
- Automotive
- Business Standard
Exicom Tele-Systems jumps on fundraise plan, loan-to-equity conversion in EV subsidiary
Exicom Tele-Systems surged 12% to Rs 204 after the company announced key decisions from its board meeting aimed at strengthening its balance sheet and supporting growth in the electric vehicle (EV) segment. In a regulatory filing, the company said its board has approved a rights issue of up to Rs 260 crore, offering equity shares to eligible shareholders on a record date to be announced later. Detailed terms including issue price, entitlement ratio, and timing will be finalised by a committee. The board constituted a rights issue committee comprising Himanshu Baid, Anant Nahata, and Vivekanand Kumar to oversee the fundraising process. Additionally, the board approved the conversion of an unsecured loan of approximately Rs 283.20 crore, including accrued interest, into equity shares of its wholly owned subsidiary, Exicom Power Solutions B.V., Netherlands. The move is intended to reduce interest outflows, ease working capital pressure, and enhance liquidity at the subsidiary, which operates in the EV sector. The conversion will be executed in tranches and complies with applicable laws, including the Foreign Exchange Management Act. There is no fresh cash outflow, as the transaction involves a reclassification of an existing loan into equity. Exicom Power Solutions B.V., incorporated in January 2024, is engaged in the wholesale of electronic and communication equipment. The Dutch entity reported a turnover of Rs 2.55 lakh and a loss of Rs 16.38 crore for FY25, according to company disclosures. Exicom Tele-Systems is one of India's leading EV charging and critical power solutions manufacturer, present across the entire EV charger value chain with a host of products across both AC and DC charger segments. On a consolidated basis, Exicom Tele-Systems reported net loss of Rs 62.28 crore in Q4 March 2025 as against net profit of Rs 27.47 crore in Q4 March 2024. Net sales declined 11.76% year-on-year to Rs 265.52 crore in Q4 March 2025.
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Business Standard
07-05-2025
- Business
- Business Standard
Poly Medicure Q4 results: Profit rises 34% on strong exports, new divisions
Delhi-based medical device manufacturer Poly Medicure on Wednesday announced a 34 per cent year-on-year (Y-o-Y) rise in consolidated profit after tax (PAT) for the March quarter of financial year 2024–25 (Q4FY25), driven by strong export revenue and the commercialisation of its new cardiology and critical care divisions. The company's PAT for the quarter was recorded at Rs 91.8 crore, up from Rs 68.4 crore in the same period last year. Its revenue from operations rose to Rs 440.8 crore in Q4FY25, a 16.6 per cent Y-o-Y rise from Rs 378.1 crore reported in Q4FY24. The company stated that its export revenue for the March quarter increased by 14 per cent year-on-year, driven by continued strong performance in key international markets. Exports formed around 67 per cent of the company's revenue mix—double that of the domestic market, which accounted for 32 per cent of overall revenue in Q4. Commenting on the performance, Himanshu Baid, managing director, Poly Medicure, said that while ongoing geopolitical conditions and uncertainty created by US-imposed tariffs may create short-term pressure on demand in certain export markets, India's Medtech sector is well positioned to benefit in the long term as global customers look to create alternate supply chains. At the operating level, Poly Medicure's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to Rs 119.5 crore, with an EBITDA margin of 27.1 per cent in the March quarter, compared to Rs 96.5 crore and 25.5 per cent, respectively, in the same period last financial year. Baid added that the company's margins have continued to expand at a higher scale of operations, giving it the confidence to continue investing capital in expanding manufacturing capacities. The company currently has 12 manufacturing facilities, with three more under construction in India. It has a portfolio of over 200 medical devices across 12 medical therapies, including infusion therapy, vascular access, dialysis and renal care, among others. On Wednesday, Poly Medicure's shares rose by 2.06 per cent, closing at Rs 2,835.65 apiece on the Bombay Stock Exchange (BSE).
