Concord Enviro Systems Limited has announced a strategic acquisition through its wholly owned overseas subsidiary, Concord Enviro FZE, which has acquired convertible preferred stock in WaHa Inc., a US-based clean technology company. The disclosure was made on April 23, 2026, under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Strategic Investment Details

The acquisition involves Concord Enviro FZE purchasing Series A-1 Preferred Stock in WaHa Inc. through a cash consideration structure. The investment parameters are outlined below:

About WaHa Inc.

WaHa Inc. is a California-headquartered clean technology company founded on July 25, 2018, specializing in advanced atmospheric water generation and energy-efficient cooling solutions. The company has developed proprietary systems including the WaHa Vaporator® and an energy-efficient desiccant regeneration engine that produces pure water while controlling humidity.

The target company's technology leverages various solid desiccants ranging from silica gel and SAPO-34 to advanced water-harvesting MOFs (Metal-Organic Frameworks). The systems are designed to operate in low-humidity environments and address water scarcity challenges across residential, industrial, and agricultural sectors, particularly in water-stressed regions.

Financial Performance Overview

WaHa Inc.'s financial performance as of March 31, 2025, and historical turnover data are presented below:

Historical Turnover (Last 3 Years):

Strategic Objectives and Business Synergies

The investment is designed to establish a strategic partnership providing Concord Enviro FZE with access to WaHa Inc.'s advanced MOF-based dehumidification and atmospheric water generation technologies. Through this acquisition, the company will secure exclusive licensing rights for India and the UAE while positioning itself as a global manufacturing partner for atmospheric water generation systems.

The investment aligns with significant customer overlap across existing sectors:

• Atmospheric Water Generation: Industries in water-stressed regions
• Industrial Product Drying: Applications for pharmaceutical, yeast, and powder-based manufacturing clients
• Dehumidification: Supporting critical manufacturing environments in food & beverage, battery manufacturing, solar, and semiconductor sectors

Industry Focus and Regulatory Compliance

WaHa Inc. operates within the Clean Technology (ClimateTech) industry, with primary focus areas including Atmospheric Water Generation (AWG), HVAC systems, and water technology solutions. The acquisition does not constitute a related party transaction, and no governmental or regulatory approvals are required for completion.

The investment represents a new vertical for Concord Enviro Systems while aligning with the company's sustainability-focused growth strategy. The transaction is being undertaken on an arms length basis, with the promoter group having no prior interest in the target entity.

Concord Enviro Systems Limited has submitted its annual disclosure of promoter and promoter group shareholding to stock exchanges, providing transparency on ownership structure as at March 31, 2026. The filing was made pursuant to Regulation 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

Promoter Group Shareholding Details

The promoter and promoter group entities collectively hold 1,06,44,280 equity shares, comprising 51.43% of the company's paid-up capital as at March 31, 2026. The disclosure confirms that none of these shareholdings have been encumbered directly or indirectly.

Individual Shareholding Breakdown

Among the promoter group members, Prayas Kamlesh Goel holds the largest stake with 4,947,360 shares, followed by Prerak Goel with 3,052,780 shares. Other significant shareholders include Pushpa Goel with 1,571,140 shares, Nidhi Prerak Goel with 535,500 shares, and Namrata Goel with 501,500 shares.

Regulatory Compliance

The annual disclosure was filed with both the National Stock Exchange of India Limited (NSE) and BSE Limited on April 4, 2026. The document was signed by Managing Director Prayas Goel (DIN: 00348519) and Executive Director Prerak Goel (DIN: 00348563) on behalf of the promoter and promoter group.

Promoter Group Structure

The comprehensive disclosure lists 47 entities within the promoter and promoter group structure, including individual promoters and various corporate entities. While several family members and related companies are listed as part of the promoter group, many currently hold zero shares in the company. The disclosure notes that Dilip Podar has ceased to be a member of the promoter group following his demise.

The filing ensures compliance with SEBI regulations requiring annual disclosure of substantial shareholdings and provides stakeholders with updated information on the company's ownership structure.