outcome of Board Meeting

Concord Control Systems' board, meeting on March 31, 2026, approved a major shake-up of its board of directors. Three new Non-Executive Independent Directors were appointed: Mr. Madan Mohan Bhatia (ex-Military Engineer Services, 37 years), Ms. Anuradha Garg (Chartered Accountant with taxation and accounting expertise), and Mr. Shyam Bohra (energy sector professional, 36 years). At the same time, Mr. Harsh Yadav resigned as Independent Director citing personal reasons, effective close of business on March 30, 2026. The Audit, Nomination & Remuneration, Stakeholder Relationship, and CSR committees were reconstituted accordingly. Additionally, Ms. Anu Agarwal (Chartered Accountant) was appointed as Internal Auditor for FY 2025-26. The board also approved investing up to Rs. 4.65 Crores by subscribing to a rights issue of its associate Progota India Private Limited, which is developing the Kavach 4.0 train-collision-avoidance system for Indian Railways. The investment is at INR 1,747.75 per share and is classified as a related party transaction since two of Concord's Joint Managing Directors are also common directors in Progota.