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CEWATER Diversified 06 Nov 2025

Concord Enviro Systems Limited — Q2 FY26

Concord Enviro reported a weak Q2 FY26 with revenue of ₹124.8 crore, down 23% YoY due to a high base from the Mexico project and a delay in an Africa project (US$6.7M) pending l...

bearish high
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Revenue ₹125 Cr -22.9%
EBITDA ₹8 Cr -71.8%
PAT ₹5 Cr -76.2%
EBITDA Margin 6.17% -1050bps
Duration 43 min
Read Time 1 min read

Financial stats pending filing verification

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

Africa project delay may extend further

The US$6.7M Africa project is delayed due to pending local approvals; further slippage could impact FY27 revenue.

high · management_commentary
R

Order book conversion risk

Despite ₹2,700 crore in advanced discussions, conversion to orders is uncertain and may not materialize as expected.

medium · analyst_question
R

Forex exposure from USD/INR volatility

While management has shifted to USD-denominated contracts, residual INR/USD exposure remains and could impact margins.

medium · analyst_question
R

CBG margin ramp-up uncertainty

CBG margins are initially guided at 14-15%, but scalability to 18-20% is unproven and depends on project execution.

medium · data_observation