Financial Year for the F Y 2025-26
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Concord Control Systems Limited reported its strongest year on record for FY 2025-26. Revenue from operations surged 69% year-on-year to ₹210.47 crores (FY25: ₹124.46 crores), while profit after tax jumped 87% to ₹42.40 crores (FY25: ₹22.65 crores). EBITDA more than doubled, rising 103% to ₹59.28 crores, with EBITDA margin expanding by 475 basis points to 28.16%. PAT margin improved to 20.15%. The company completed the merger of Advanced Rail Controls Private Limited (appointed date 1 April 2025) and acquired Fusion Electronics Private Limited as a subsidiary, gaining an 80% controlling stake. Additionally, stake in associate Progota India Private Limited was increased from 26% to 46.50%. The statutory auditors (Seth & Associates) issued an unmodified audit opinion. Operating cash flow turned negative at -₹54.76 crores, driven largely by a sharp rise in trade receivables and inventory buildup. The order book stood at a robust ₹696.99 crore as of March 31, 2026.
Strong operational performance with near-doubling of profits and margin expansion signals improving profitability. However, the negative operating cash flow raises concerns about working capital management despite the growth. The merger and acquisitions add complexity to future consolidated results.