This EV Charging Stock Jumps Over 9%; Gets Major Tax Relief in Appeal

Sagar DSIJ/ 13 Apr 2026 /Categories: Mindshare, Trending

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Appellate Authority Sets Aside ₹90 Lakh Penalty, No Financial Impact

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Exicom share price opened at Rs 100.00 and surged to an Intraday high of Rs 119.08, while the low stood at Rs 98.29. It was trading at Rs 112.73, up 8.48 per cent, as of 3.04 PM on April 13, 2026, this positive momentum came after the company disclosed a favourable order from the appellate authority, providing relief from an earlier Tax penalty.

Order from Tax Appellate Authority
The company informed exchanges that the Court of the Joint Commissioner (Appeal), State Tax, Haldwani, Uttarakhand, has allowed its appeal and set aside the earlier order passed by the Assistant Commissioner, State Tax Department, Rudrapur.
The original order, issued under the GST Act in October 2025, had imposed confiscation and a penalty of Rs 90,11,224 (inclusive of taxes). However, the appellate authority has now ruled in favour of the company, effectively nullifying the penalty and related consequences.

No Financial Impact on Company
Following the favourable ruling, the company clarified that there will be no financial impact arising from the earlier order. The matter now stands fully resolved in favour of the company. Exicom also stated that the disclosure was made promptly after its compliance team became aware of the appellate order on April 12, 2026.

About the Company
Exicom Tele-Systems Limited, incorporated in 1994, is engaged in the manufacturing of EV charging solutions and critical power components, positioning itself as a key player in India’s growing electric mobility and power infrastructure space.