>Can I expose the service as OData via XSODATA ?
Only if you wrap it in a Calculation View.
>Procedure is taking one mandatory input parameter .
Parameters are no problem. There are special URL parts in XSODATA to handle them. Just add the InputParams to your binding string before your Entity name. Here is an example for from UI5 consumption:
var bindString = "/InputParams(IP_YEAR_1='"+
previousYear +
"',IP_YEAR_2='" +
currentYear +
"')/Results";
dataset.bindData(bindString,sort1);