CONCORDCONTROLSYSTEMS / Q4-FY26 / claim-ledger

Audit the questions that mattered.

Concord Control Systems · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY26 · 2026-05-20Back to quarter ↗

Questions audited

10

Answered directly

10%

Numeric claims

3

Consistency

mixed

Question ledger

What was answered, and how?

Ajit City · Research desk

partial

Why did trade receivables increase significantly and what is the outlook?

in the railway industry the execution is typically backended with a significant portion of deliveries and billings happening in Q4... receivables on 31st of March balance sheet naturally appears elevated.

Ajit City · Research desk

evasive

How should we think about debt levels given 40-50% growth guidance?

these Q4 numbers are always H2 is heavier than H1... there will be always a significant jump in our overall working capital requirements with an unprecedented order book of 697 crores... we will be more disciplined.

Ajit City · Research desk

evasive

Is the 20-25% EBITDA margin guidance conservative given 30% this quarter?

it is difficult to say that we have been conservative in our guidance. We try to be more and more realistic in our guidance...

Shoubam Agarwal · Research desk

evasive

Will execution need to outpace 40-50% revenue growth given order book?

FI26 has been a very unprecedented year... I think that gives us more positioning strength for this entire year... I'll be execute. So hopefully we should keep doing our best.

Shoubam Agarwal · Research desk

evasive

What is the revenue outlook for Fusion Electronics this year?

Fusion is one of the most interesting and a very strong strategic acquisition... I hope this year will be a revenue contributing year as well.

Shoubam Agarwal · Research desk

evasive

Any plans to increase ownership stake in Proota this year?

we have been very frugal in terms of our investments and as and when we see an opportunity where our investments can significantly garner returns for the company, we take that step.

Utkash Gadora · Research desk

evasive

When will operating cash flow turn positive?

railway as an industry is always... backended... railways has no issues of receivables. It's just the cycle... this is an year where we can be more planned...

Utkash Gadora · Research desk

evasive

How do you see the retrofit diesel engine and green hydrogen space?

zero emission is a very strong pillar because the overall energy efficiency is going to improve not only in India but all across the railway network globally.

Herseli · Research desk

evasive

When will the 4,500 loco Kavach tender outcome be known?

we have been aggressive in this space and tenders which are coming... railway has a process of tender finalization and in due course we will all see the outcome.

Herseli · Research desk

partial

What is the total number of loco units tendered and scope for Concord?

the total population of locomotives in the country would scale somewhere around from 13,000 to 16,000 including the train sets and the memos.

Anorag Agraal · Research desk

evasive

Why has Fusion Electronics not shown meaningful revenue despite being a large player?

It's a turnaround story and it is one of the largest installed capacities of flexible PCBs... any turnaround takes a due course and we will see we are very bullish of short to midterm targets.

Anorag Agraal · Research desk

evasive

What is the strategy to turn around Fusion Electronics?

Concord today has done a few transactions... where we have shown our execution capabilities... Fusion happens to be one of those strategic moves and I think we have the right pieces of the puzzle in place.