Disclosure of Regulation 30 of SEBI LODR, 2015
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Concord Control Systems Ltd has secured an order worth Rs. 139.32 Crores through its wholly owned subsidiary Advanced Rail Controls Private Limited. The order, awarded by Indian Railways, is for the supply, installation and commissioning of Loco wireless control systems. The project is domestic in nature and is to be executed within 18 months from the date of commencement. The order is not a related party transaction and the promoters have no interest in the awarding entity.
This is a sizeable order from a government client, which provides strong revenue visibility over the next 18 months and strengthens the order book. For a small-cap company, this win from Indian Railways is a positive signal and could boost investor sentiment in the near term.