CEWATER
Concord Enviro Systems financials
- Market cap
- ₹569 Cr
- Sector
- Utilities
- Calls analysed
- 7
Concord Enviro Systems Limited Q1 FY27
What went well
- Order book increased to ₹699 crores, providing strong revenue visibility for coming quarters. (Prerak Goel, Page 3)
- Strong healthy traction for new industrial order wins across domestic and international markets. (Prerak Goel, Page 3)
- H-Xtreme heat exchanger gaining meaningful traction, offering up to 90% efficiency. (Prerak Goel, Page 4)
What to watch
- Revenue performance impacted by supply chain disruptions due to Middle East conflict. (Prerak Goel, Page 3)
- Revenue from operations declined to ₹853 million in Q1 FY27 from ₹1,024 million in Q1 FY26. (Prerak Goel, Page 5)
What Concord Enviro Systems Limited does
Concord Enviro designs, manufactures, installs, commissions and operates industrial water and wastewater treatment systems, with expertise spanning membrane-based filtration (UF, NF, RO, MBR), Zero Liquid Discharge (ZLD), desalination and Waste Heat Evaporators (WHE). It earns revenue from upfront EPC/systems-and-plants sales, recurring sale of consumables and spare parts (membranes, plant chemicals), and long-term Operations & Maintenance (O&M) contracts, including third-party O&M. It has also expanded into Compressed Biogas (CBG) plant installation leveraging anaerobic-digestion expertise, and into a Solutions-as-a-Service (Roserve) model. Concord Enviro is the global brand; Rochem is its flagship India-facing brand and Reva its biological-treatment technology arm.
Segments
- Systems & Plants
- Consumables and Spare Parts
- Operations & Maintenance (O&M)
- Compressed Biogas (CBG)
- Manufacturing facilities
- 2 (Vasai, Maharashtra, India and Sharjah, UAE)
- Vasai plant installed capacity
- 11,000 modules / 600 systems per year (96,000 sq. ft.)
- Sharjah plant installed capacity
- 6,000 modules per year (15,000 sq. ft.)
- Active installations
- 2,000+
- Customers catered globally
- 300 (289 domestic + 21 international in FY25)
- Countries with presence
- 14 (across 5 continents)
Guidance record · Q1 FY27
what the last two calls moved 22 tracked 1 delivered 9 missed 12 open- Africa Project Execution went quiet said Q2 FY26 Promised: Approvals in Q4 FY26, $5.7m revenue deferred to FY27 Q1 FY27: No specific update provided on the Kenya project's phased implementation, which was expected to gain visibility in Q2.
- Sharjah Facility Operationalization at risk said Q4 FY25 Promised: Operationality achieved by July 2026 Q1 FY27: Management confirmed supply chain disruptions from the Middle East conflict caused a ~₹55 Cr revenue loss in Q1, confirming the risk is material. Outlook is for stabilization in Q2.
- H-Xtreme Heat Exchanger Market Share on track said Q4 FY26 Promised: Capture double-digit market share in the next 3 years Q1 FY27: Management reports the product is 'gaining meaningful traction'.
All 22 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 11.5%, net profit down 92.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15 | 12 | 22 | 11 | 14 −9% | 13 +15% | 18 −19% | 13 +11% |
| EBITDA | 0 | 0 | 0 | -1 | -1 −412% | -1 −1173% | 2 +2312% | -1 +54% |
| Net profit | 1 | 0 | 2 | 4 | 1 +57% | -0 −211% | 4 +127% | 0 −92% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −45.2% 1Y
1Y: ₹519.95 on 10 Sept 2025 → ₹284.7. High ₹528.85 (22 Sept 2025), low ₹241.25 (17 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −5.2%
- 12 Aug
- Q4 FY26
- +2.7%
- 25 May
- Q3 FY26
- −8.1%
- 13 Feb
- Q2 FY26
- −7.1%
- 10 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 1.2% a year over 1 year, FY25 to FY26. Operating margin narrowed to -3.5%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹57 Cr | ₹56 Cr |
| Operating profit | ₹1 Cr | ₹-2 Cr |
| Operating margin | 1.0% | -3.5% |
| Interest | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr |
| Net profit | ₹3 Cr | ₹9 Cr |
| Net margin | 5.5% | 15.8% |
| Cash from operations | ₹0 Cr | ₹-19 Cr |
| Free cash flow | ₹-1 Cr | ₹-19 Cr |
| ROCE | 3.2% | 5.7% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹0 Cr | ₹9 Cr | ₹9 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹-212 Cr | ₹49 Cr | ₹32 Cr | ₹34 Cr | ₹539 Cr | ₹208 Cr |
| Borrowings | ₹260 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹165 Cr | ₹3 Cr |
| Other liabilities | ₹2 Cr | ₹6 Cr | ₹11 Cr | ₹14 Cr | ₹200 Cr | ₹11 Cr |
| Total liabilities | ₹51 Cr | ₹56 Cr | ₹52 Cr | ₹57 Cr | ₹916 Cr | ₹231 Cr |
| Fixed assets | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹111 Cr | ₹5 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹0 Cr |
| Investments | ₹49 Cr | ₹49 Cr | ₹48 Cr | ₹50 Cr | ₹70 Cr | ₹147 Cr |
| Other assets | ₹1 Cr | ₹6 Cr | ₹3 Cr | ₹7 Cr | ₹732 Cr | ₹79 Cr |
| Total assets | ₹51 Cr | ₹56 Cr | ₹52 Cr | ₹57 Cr | ₹916 Cr | ₹231 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +5.54 pp while DIIs trimmed −4.99 pp. The shareholder count shrank 11% to 49,680.
- Promoters
- 51.4%
- FIIs
- 0.4%
- DIIs
- 7.2%
- Public
- 41.0%
Since Jun 2025
- Public +5.54 pp
- DIIs −4.99 pp
- FIIs −0.58 pp
How it drifted, 7 quarters
Over this window the public went from 30.1% to 41.0% — +10.9 pp.
Ownership split by quarter, oldest first. Dec '24: Promoters 51.4%, FIIs 3.6%, DIIs 14.9%, Public 30.1%.Mar '25: Promoters 51.4%, FIIs 1.6%, DIIs 15.4%, Public 31.6%.Jun '25: Promoters 51.4%, FIIs 0.9%, DIIs 12.2%, Public 35.5%.Sep '25: Promoters 51.4%, FIIs 0.9%, DIIs 11.3%, Public 36.4%.Dec '25: Promoters 51.4%, FIIs 0.3%, DIIs 10.7%, Public 37.6%.Mar '26: Promoters 51.4%, FIIs 1.3%, DIIs 7.3%, Public 40.0%.Jun '26: Promoters 51.4%, FIIs 0.4%, DIIs 7.2%, Public 41.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Concord Enviro Systems Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Prayas Kamlesh Goel | 23.90% | unchanged |
| Prerak Goel | 14.75% | unchanged |
| Afholdings | 14.13% | unchanged |
| Pushpa Goel | 7.59% | unchanged |
| Kotak Mahindra Trustee Co Ltd A/C Kotak Multi Asset Allocation Fund Mutual fund | 5.00% | unchanged |
| Nidhi Prerak Goel | 2.59% | unchanged |
| Namrata Goel | 2.42% | unchanged |
| Bandhan Small Cap Fund Mutual fund | 1.95% | unchanged |
| Jignesh Vijay Shah | 1.91% | unchanged |
| Krttika Goel | 0.17% | unchanged |
| Roserve Enviro Private Limited | 0.00% | unchanged |
| DMAG International | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Concord Enviro Systems Limited
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