“In FY26, Concord Control Systems Limited delivered results in line with our expectations, mirroring the accelerating momentum across India’s railway ecosystem. The Government’s resolute push for modernisation, expansive infrastructure, safety excellence, and Atmanirbhar manufacturing is not just transforming rail networks — it’s redefining national connectivity and economic vitality.” Gaurav Lath, Joint Managing Director, Concord Control Systems Limited
Concord Control Systems Limited has announced its audited financial results for the year ended 31 March 2026 — its strongest year on record, with revenue and profit growth significantly outpacing industry benchmarks.
The Board of Directors approved the audited Standalone and Consolidated Financial Results at its meeting held on May 13, 2026. M/s Seth & Associates, Chartered Accountants, issued audit reports with an unmodified opinion.
Performance Highlights — FY26
■ Revenue from Operations grew 69% Y-o-Y to ₹210.47 crore (FY25: ₹124.46 crore) — driven by accelerating execution across the Indian Railway modernization programme.
■ EBITDA more than DOUBLED — up 103% Y-o-Y to ₹59.28 crore (FY25: ₹29.14 crore) — reflecting strong operating leverage and a richer order mix.
■ EBITDA Margin expanded 475 bps to 28.16% (FY25: 23.41%) — a step-change in profitability profile.
■ Profit Before Tax nearly DOUBLED — up 99.5% Y-o-Y to ₹56.73 crore.
■ Profit After Tax surged 87% Y-o-Y to ₹42.40 crore (FY25: ₹22.65 crore); PAT margin expanded 195 bps to 20.15%.
■ Earnings Per Share grew 86% Y-o-Y to ₹41.75 (FY25: ₹22.44).
■ Robust Order Book of ₹696.99 crore as on March 31, 2026 — providing strong forward revenue visibility.
H2 FY26 Momentum — Acceleration in the Second Half
Performance accelerated meaningfully in H2 FY26, with revenue and profitability scaling sharply over the comparable prior-year period — underscoring the strength of order execution and operating leverage.
Management Commentary
Gaurav Lath, Joint Managing Director, Concord Control Systems Limited: “In FY26, Concord Control Systems Limited delivered results in line with our expectations, mirroring the accelerating momentum across India’s railway ecosystem. The Government’s resolute push for modernization, expansive infrastructure, safety excellence, and Atmanirbhar manufacturing is not just transforming rail networks — it’s redefining national connectivity and economic vitality.
As a trusted OEM partner to Indian Railways, we are at the forefront of this evolution, harnessing technology-driven opportunities with unmatched visibility. Our focus remains on pioneering reliable, cutting-edge solutions that align with the sector’s future. This policy momentum heralds a decade of sustainable, high-impact growth, and we are poised to lead it.”
Key Investment Highlights
■ RDSO-approved OEM — leading manufacturer of embedded electronics and critical electronic solutions for Indian Railways, with deep R&D, testing and manufacturing infrastructure.
■ Strong Sector Tailwinds — aligned with the Government’s Gati Shakti initiative, Atmanirbhar Bharat, and Indian Railways’ modernization, electrification and safety capex cycle.
■ Robust Order Book — ₹696.99 crore as on March 31, 2026 — providing visibility for sustained growth.
■ Step-Change Profitability — EBITDA margin expanded 475 bps Y-o-Y; PAT margin up 195 bps — demonstrating operating leverage on scale.
■ Technology Leadership — high-performance systems designed for the extreme conditions of railway environments; portfolio expanding into export markets.
