Incorporated in 2011, Concord Control Systems Limited is engaged in the business of manufacturing and supply of coach-related and electrification products for Indian Railways and other Railway Contractors. The company manufactures products required in railway coaches like Inter-Vehicular Coupler, Emergency Lighting System, Brushless DC carriage fan, Exhaust fans, Cable Jackets, Bellows etc. and products required in the electrification of coaches and broad gauge network of Indian Railways like Battery Charger 200 AH, Battery Charger 40 AH, Tensile Testing Machine.
Concord Control Systems Limited is an approved vendor by Research Design and Standards Organisation (“RDSO”) to manufacture and supply these products for the Indian Railways.
Currently the company has two manufacturing units situated at Lucknow, Uttar Pradesh with a total size admeasuring over 1880 sq. Mtrs.
The key clients of the company include various zones of the Indian Railways like Eastern Railway, South Eastern Railway, South East Central Railway, Northern Railway, East Coast Railway, North Frontier Railway, East Central Railway, Central Organisation For Railway Electrification (CORE) and organizations like KEC International Limited, Larsen & Toubro Limited, Kalpataru Power Transmission Ltd., Rail Vikas Nigam Limited, Fedders Lloyd Corporation Limited, Tata Projects Limited and many more.
As per the Restated Consolidated Financial statements, the company’s revenue from operations for the Financial year ended on March 31, 2022, 2021 and 2020 were Rs. 3144.69 lakhs, Rs. 1727.05 lakhs and Rs. 1558.48 lakhs.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 838.01 | 1589.25 | 104.57 | 350.58 | 330.25 |
| 31-Mar-21 | 1251.35 | 1760.91 | 143.21 | 495.47 | 474.9 |
| 31-Mar-22 | 1467.22 | 3173.54 | 258.99 | 754.24 | 733.86 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intend to utilize the proceeds of the Issue to meet the following objects:-
1. To meet working capital requirements.
2. General Corporate Purpose.
3. To meet issue expenses.
Concord Control Systems IPO Details
| Concord Control Systems IPO Date | Sep 27, 2022 to Sep 29, 2022 |
| Concord Control Systems IPO Face Value | ₹10 per share |
| Concord Control Systems IPO Price | ₹53 to ₹55 per share |
| Concord Control Systems IPO Lot Size | 2000 Shares |
| Issue Size | 1,512,000 shares of ₹10 (aggregating up to ₹8.32 Cr) |
| Fresh Issue | 1,512,000 shares of ₹10 (aggregating up to ₹8.32 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| QIB Shares Offered | Not more than 50% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| Company Promoters | Mr. Nitin Jain and Mr. Gaurav Lath are the company promoters. |
Concord Control Systems IPO Timeline
Concord Control Systems IPO opens on Sep 27, 2022, and closes on Sep 29, 2022. The Concord Control Systems IPO bid date is from Sep 27, 2022 10.00 A.M. to Sep 29, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Date |
|---|---|
| Concord Control Systems IPO Opening Date | Sep 27, 2022 |
| Concord Control Systems IPO Closing Date | Sep 29, 2022 |
| Basis of Allotment | Oct 4, 2022 |
| Initiation of Refunds | Oct 6, 2022 |
| Credit of Shares to Demat | Oct 7, 2022 |
| Concord Control Systems IPO Listing Date | Oct 10, 2022 |
Concord Control Systems IPO Lot Size
The Concord Control Systems IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹110,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹110,000 |
| Retail (Max) | 1 | 2000 | ₹110,000 |
Concord Control Systems IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Concord Control Systems IPO Review
CCSL is engaged in railway coach-related products supplying and has posted steady growth in its top and bottom lines. The only major concern is its dependency on the government which may result in delayed payments/changes in policy etc. Based on FY22 earnings, the issue appears fully priced. Cash surplus investors may consider an investment with a medium to long-term perspective. Read detail review…
Concord Control Systems IPO Prospectus
Company Contact Information
Concord Control Systems Limited
G-36 U.P.S.I.D.C, Industrial Area,
Deva Road, Chinhat,
Lucknow-226019
Phone: +91-78000 08745
Email: info@concordgroup.in
Website: http://www.concordgroup.in/
Concord Control Systems IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com