Transcript of post earnings conference call
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Concord Control Systems reported FY25 consolidated revenue of ₹124.5 crores, up 90% YoY, with PAT rising 77% to ₹22.60 crores and EPS up 97.6%. The order book stood at ₹212.5 crores (1.7x FY25 revenue) with ₹141.5 crores of fresh orders received during the year. Management increased its stake in subsidiary Advanced Rail from 90% to 100% and added a new Metro vertical via a German Transfer of Technology deal, targeting a ₹250 crore opportunity by FY30. Key growth opportunities highlighted include DPWCS (₹2,000+ crores over 4-5 years), Kavach 4.0 (under RDSO evaluation), and WILD safety systems. The company guided for 40-50% revenue CAGR over the next 3-5 years and committed to maintaining EBITDA margins in the 22-25% range. Debt-to-equity is negligible, and the firm plans to migrate to the BSE Main Board by October 2025.
Strong YoY growth, robust order book, and clear multi-year revenue guidance are positive signals. However, annualised EBITDA margin slipped from 26% to 23%, and management deferred detailed explanations on cost break-ups, half-yearly order additions, and Kavach order outlook, which may limit near-term visibility. The Main Board migration and additional Metro vertical could attract broader investor interest.