Concord Enviro Systems Limited IPO

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They are a global provider of water and wastewater treatment and reuse solutions, specializing in Zero Liquid Discharge (ZLD) technology. Their comprehensive in-house capabilities cover the entire value chain, including:
i. Designing                                                                                                 ii. Manufacturing
iii. Installation and Commissioning                                                       iv. Operations and Maintenance (O&M)
v. Digitalization Solutions, including Internet of Things (IoT)

Revenue Streams

They generate revenue from the following primary sources:
i. Sale of Systems and Plants
ii. Operations and Maintenance (O&M): Providing operations and maintenance services for installed plants to ensure their efficient performance and longevity.
iii. Consumables and Spares: Manufacturing and supplying essential consumables and spare parts, including:
a. Membranes                                b. Plant Chemicals                        c. Consumables

Digitalization and IoT Solutions

They have implemented advanced digitalization solutions with IoT-based platforms to:
i. Enable real-time monitoring of installed systems.
ii. Facilitate data capture and analysis for performance optimization.
iii. Support troubleshooting and preventive maintenance, ensuring operational efficiency and reliability.

Conclusion

They offer a holistic suite of water and wastewater treatment solutions, including ZLD, supported by cutting-edge digitalization. Their diversified revenue model across systems and plants, O&M, and consumables and spares enables them to serve a broad spectrum of industries, ensuring efficient and sustainable water management globally.

Objects of the Concord Enviro Systems Limited IPO:

The Net Proceeds of the Fresh Issue will be utilized for: i. Funding capital expenditure for the U.A.E. Project through Concord Enviro FZE to develop an assembly unit for water and wastewater treatment systems. ii. Expanding manufacturing and storage facilities for the Vasai Project via Rochem Separation Systems (India) Private Limited. iii. Purchasing plant and machinery for the Company. iv. Repaying or prepaying borrowings of Concord Enviro FZE. v. Supporting Concord Enviro FZE's working capital needs. vi. Growing the pay-per-use/pay-as-you-treat business through Reserve Enviro Private Limited. vii. Investing in technology and growth initiatives for new markets. viii. General corporate purposes. Total number of share issue :- i Fresh issue is 24,96,433 shares, ii. Offer for sale is 46,40,888 shares.
DRHP of Concord Enviro Systems Limited IPO
RHP of Concord Enviro Systems Limited IPO

Concord Enviro Systems Limited IPO Details:

Open Date: Dec 19 2024
Close Date: Dec 23 2024
Total Shares: 71,37,321
Face Value: ₹ 5 Per Equity Share
Issue Size: 500.33 Cr.
Lot Size: 21 Shares
Issue Price: ₹ 665 - 701 Per Equity Share
Listing At: NSE,BSE
Listing Date: Dec 27 2024

Promoters And Management:

Prayas Goel, Chairman and Managing Director of the Company, holds a bachelor’s degree in mechanical engineering from the University of Mumbai. With over 25 years of experience in organizational strategy, business process re-engineering, and technological innovation, he has been associated with the Subsidiary, Rochem Separation Systems (India) Private Limited, since June 1, 1998, and with our Company since May 5, 2009. Prerak Goel, Executive Director of the Company, holds a bachelor’s degree in commerce from the University of Mumbai and a master’s in business management from the Asian Institute of Management. With over 21 years of experience in strategy, financial management, fundraising, and international sales, he has been associated with the Subsidiary, Rochem Separation Systems (India) Private Limited, since June 1, 2003, and the Company since August 10, 2009. Shiraz Homi Bugwadia, Independent Director of the Company since June 20, 2022, holds a bachelor’s degree in chemical engineering from the University of Mumbai and an MBA from the University of Melbourne. He is the Director of O3 Capital Global Advisory Limited and has over 17 years of experience.

Financials of Concord Enviro Systems Limited IPO:

In Cr.
Particulars August 31, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 206.17 496.86 343.22 329.37
EBITDA 15.11 (7.33%) 81.14 (16.33%) 49.58 (14.45%) 61.42 (18.65%)
PAT 0.51 (0.25%) 41.44 (8.34%) 5.48 (1.60%) 16.47 (5%)
ROCE 2.08% 14.07% 6.96% 10.23%
D/E Ratio 0.52 0.47 0.47 0.47
CFOA -5.08 -34.66 117.36 49.03

Comparison With Peers:

Companies Revenue EBITDA PAT D/E Ratio MCap P/E
Concord Enviro Systems  (FY 2024) 496.86 Cr. 81.14 Cr. (16.33%) 41.44 Cr. (8.34%) 0.52 1,450.81 Cr. 35
Praj Industries Limited (TTM) 3,363 Cr. 406 Cr. (12%) 300 Cr. (8.92%) 0.13 14,782 Cr. 53.10
Triveni Engineering and Industries (TTM) 5,405 Cr. 529 Cr. (10%) 307 Cr. (5.68%) 0.19 10,329 Cr. 33.20
VA Tech Wabag (TTM) 2,965 Cr. 387 Cr. (13%) 266 Cr. (8.97%) 0.22 10,404 Cr. 40
Thermax (TTM) 9,884 Cr. 879 Cr. (9%) 732 Cr. (7.41%) 0.32 56,361 Cr. 88.80

Recommendation on Concord Enviro Systems Limited IPO:

Review and Recommendation of Concord Enviro Systems IPO by team IZ is 4/10.

Lead Manager of Concord Enviro Systems Limited IPO:

  1. Equirus Capital Private Limited
  2. Motilal Oswal Investments Advisors Private Limited

Registrar of Concord Enviro Systems Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Concord Enviro Systems Limited 101, HDIL Towers, nant Kanekar Marg, Bandra (East), Mumbai-400051 Phone: +912267049000 Email: cs@concordenviro.in Website: https://www.concordenviro.in/

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