Concord Control Systems Limited has informed the stock exchanges about the resignation of Mr. Harsh Yadav as an Independent Director from its Board of Directors. The resignation became effective from the close of business hours on March 30, 2026.

Director Details and Tenure

Mr. Yadav served as an Independent Director for approximately three years and seven months before submitting his resignation. In his resignation letter dated March 30, 2026, he cited personal reasons for his decision to step down from the position.

Committee Memberships Affected

The resignation has resulted in Mr. Yadav stepping down from his roles in multiple board committees. His departure affects the composition of several key committees where he served as a member.

The committees impacted by his resignation include:

• Audit Committee
• Nomination & Remuneration Committee
• Stakeholder Relationship Committee
• Corporate Social Responsibility Committee

Regulatory Compliance and Confirmations

In compliance with SEBI regulations, Mr. Yadav has provided confirmation that there are no material reasons for his resignation other than the personal reasons mentioned in his resignation letter. The company has disclosed that he does not hold directorships in any other listed entities.

Company Response and Next Steps

The management of Concord Control Systems Limited has acknowledged the resignation and initiated the process to fill the vacancy created by Mr. Yadav's departure. The company stated that this process will be completed within the stipulated regulatory period as required under SEBI guidelines.

The information regarding this board composition change has been disclosed in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, and has been made available on the company's website at www.concordgroup.in .

Concord Control Systems Limited announced major board restructuring and strategic investment decisions following its board meeting held on March 31, 2026. The company made significant changes to its leadership structure while approving key business investments.

Board Leadership Changes

The company appointed three new Non-Executive Independent Directors, each bringing distinct expertise to strengthen the board's capabilities. The appointments were made subject to shareholder approval and took effect from March 31, 2026.

Mr. Madan Mohan Bhatia brings extensive infrastructure and construction experience from his distinguished military career, including deputation to the Indian Coast Guard and expertise in defence infrastructure projects. Ms. Anuradha Garg contributes comprehensive accounting and taxation knowledge, with experience managing transactions exceeding Rs. 10,000 crores. Mr. Shyam Bohra adds significant energy sector leadership experience, having held board-level positions and managed retail operations across multiple states.

Director Resignation and Committee Restructuring

Simultaneously, Mr. Harsh Yadav resigned from his position as Independent Director, effective from the close of business hours on March 30, 2026, citing personal reasons. His resignation letter confirmed no material reasons beyond those stated.

Following these changes, the company reconstituted all board committees:

Key Committee Compositions:

Audit Committee:

Nomination & Remuneration Committee:

Strategic Investment in Railway Technology

The board approved a significant investment of up to Rs. 4.65 crores in associate company Progota India Private Limited, which specializes in developing Kavach 4.0 technology for Indian Railways. This investment will be made through subscription to the company's right issue in one or more tranches.

Progota India Private Limited, incorporated on October 18, 2021, focuses on developing advanced Automatic Train Protection systems and railway safety platforms. The company's recent financial performance shows turnover of Rs. 14.94 lakhs in FY 2023-24 and Rs. 8.68 lakhs in FY 2022-23, reflecting its development-stage operations.

Additional Appointments

The company also appointed Ms. Anu Agarwal, a Chartered Accountant, as Internal Auditor for Financial Year 2025-26. Ms. Agarwal brings over two decades of experience across public sector banking and independent practice, with expertise in audit, taxation, and financial management.

Strategic Rationale

The investment in Progota India Private Limited aligns with Concord's position as an RDSO-approved vendor in railway safety and control systems. The partnership combines Concord's manufacturing capabilities with Progota's research and development strengths in Kavach 4.0 technology, supporting India's railway modernization initiatives under the Atmanirbhar Bharat vision.

The board meeting commenced at 12:00 PM and concluded at 1:00 PM on March 31, 2026, with all decisions made in compliance with applicable regulations and subject to necessary approvals.