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View Claim Ledger →Concord Control Systems Ltd — Q4 FY26
Concord Control Systems reported FY26 revenue of ₹210.47 crore and PAT of ₹42.7 crore, with EBITDA of ₹62.1 crore.
bullish
high
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2-Minute Summary
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Concord Control Systems reported FY26 revenue of ₹210.47 crore and PAT of ₹42.7 crore, with EBITDA of ₹62.1 crore. The executable order book surged to ₹697 crore (3.3x revenue), providing strong visibility. Management emphasized a strategic shift from a hardware supplier to a full-stack railway intelligence platform spanning green mobility, smart locomotives, safety (Kavach), and AI-driven diagnostics. The Fusion Electronics acquisition is positioned as a turnaround, with potential revenue of ₹200 crore at full scale. Guidance includes 40-50% revenue growth and 20-25% EBITDA margin. Risks include elevated receivables due to back-ended railway payments and execution dependency on large order conversion. Geopolitical uncertainties could impact government spending, but management expressed confidence in resilience.
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Elevated receivables and working capital strain
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Executable Order Book
₹697 crore
+228% YoY
Order book as of March 31, 2026, is more than 3x FY26 revenue, providing strong revenue visibility.
EPS
₹42
N/A
Earnings per share for FY26, indicating profitability.
Fusion Electronics Capacity Revenue Potential
₹200 crore
N/A
Installed capacity can generate ₹200 crore revenue at full scale, with potential to double.
Order Execution Cycle
18-24 months
N/A
Typical timeline for order execution, providing a framework for revenue conversion.
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Guidance and risk preview
Management guided for strong revenue growth of 40-50% in the current financial year, supported by the large order book.
Trade receivables increased significantly due to back-ended Q4 execution; management expects improvement but working capital may remain elevated.
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