Concord Control Systems Limited IPO

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i. Concord Control is engaged in the business of manufacturing and supply of coach related and electrification products for Indian Railways and other Railway Contractors. They manufacture 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 electrification of coaches and broad gauge network of Indian Railways like: Battery Charger 200 AH, Battery Charger 40 AH, Tensile Testing Machine. The comapany is approved vendor by Research Design and Standards Organisation (“RDSO”) to manufacture and supply these products for the Indian Railways.

ii. The company started its operations in the year 2011 when it got approval to manufacture and supply battery charger in traction system of railway electrification. The company further expanded its business in manufacturing products fitted in coaches of Indian Railways in the year 2013 and got approved for Emergency Light Unit which is one of the most critical items of rolling stock application in coaches of Indian Railways for passenger safety. Emergency Light Unit switches on automatically in case of power failure or in case of accidents. Thereafter in the year 2014 they successfully received RDSO approval for manufacturing and supply of Tensile Load Testing Machine for Porcelain & Composite Insulators before installation electrical lines. Eventually the company got approval to Supply Brushless Dc Carriage Fans to Indian railways when it changed its technology of fans from normal DC to Brushless DC. Over the years the company has successfully developed and is supplying a wide range of products.

iii. Currently they have two manufacturing units situated at Lucknow, Uttar Pradesh with total size admeasuring to over 1880 sq. mtrs. Both unit has a well-equipped laboratory, modern technology and testing equipments to ensure that the products confirm with the predetermined standards. The Company has a research and development team dedicated towards developing new products or improving existing products.

Objects of the Concord Control Systems Limited IPO:

The company intends 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.
DRHP of Concord Control Systems Limited IPO
RHP of Concord Control Systems Limited IPO

Concord Control Systems Limited IPO Details:

Open Date: Sep 27 2022
Close Date: Sep 29 2022
Total Shares: 1,512,000
Issue Type: Book Built Issue
Issue Size: 8.32 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 53-55 Per Equity Share
Listing At: NSE,BSE

Promoters And Management:

i. Mr. Govind Parsad Lath is the Chairman and Non-Executive Director of the Company. He was appointed on the board as Additional Director vide board meeting dated July 28, 2022 and further regularized and re-designated as Chairman and NonExecutive Director of the Company w.e.f. August 31, 2022. He has completed his Bachelor of Commerce from Xavier's College Kolkata in 1961 and has an overall experience of around 54 years. ii. Mr. Nitin Jain is the founder Promoter and Joint Managing Director of the Company. He has been on the Board since incorporation of the company. He has completed his Bachelor of Engineering (Mechanical Engineering) from Visveswaraiah Technological University, Karnataka in 2006. He has a work experience of over 17 years in the manufacturing of electrical and electronic equipments and related products. He is instrumental in formulating and implementing strategy and looks after the marketing, research & development, quality control, production of the Company. iii. Mr. Gaurav Lath is the founder Promoter and Joint Managing Director of the Company. He has been on the Board since incorporation of the company. He has completed his Post Graduate Diploma in Business Management (Family Business) from Narsee Monjee Institute of Management Studies, University of Bombay in 2008. He has a work experience of around 15 years in the manufacturing of electrical and electronic equipments and related products. He is a visionary entrepreneur and has played a pivotal role in setting up business of the Company. He primarily looks after the overall business operations of the Company including Supply Chain Management, Material & Store, Accounts & finance and Administration & Human Resource. Under his guidance the Company has witnessed continuous growth and has been instrumental in turning around the business. He has been appreciated by the Entrepreneurship Development Cell for his efforts and time in 2019.

Financials of Concord Control Systems Limited IPO:

Particulars (in crores) Mar-22 Mar-21 Mar-20
Revenue from operations 31 17.00 15.00
Cost of Operations 23.00 11.00 10.00
Change in inventories -3 -0.2 -0.1
Employee Benifit Expense 2 1 1
Other Expense 5 2 3
Operating Profit 4 3.20 1.10
OPM% 12.90% 18.82% 7.33%
Finance Cost 0.1 0.1 0.9
Depreciation 0.3 0.2 0.1
Other Income 0.3 0.7 0.01
Profit (Loss) before tax 3 1 1
Profit (Loss) for the period 2 1 1

Comparison With Peers:

There are no listed companies in India that are engaged in a business similar to this company.

Lead Manager of Concord Control Systems Limited IPO:

  1. Hem Securities Limited

Registrar of Concord Control Systems Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

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/

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