Concord Control Systems Limited has successfully obtained shareholder approval for its preferential equity share issues through the 2nd Extraordinary General Meeting (EGM) of FY2025-26 held on December 20, 2025. The resolutions were passed with unanimous support from participating shareholders.

EGM Voting Results

The company conducted remote e-voting from December 17-19, 2025, with the meeting held via video conferencing on December 20, 2025. The voting results demonstrate strong shareholder confidence:

Approved Preferential Issues

Shareholders unanimously approved two special resolutions for preferential equity share issuances:

Key Investors and Purpose

The preferential issues have attracted support from notable investors including Ashish Rameshchandra Kacholia (existing investor), Sanshi Fund group (existing investor), and SageOne Flagship Growth Open-Ended Fund (new investor). The proceeds are earmarked for strengthening the company's financial position and expanding operational capacity in the automation sector.

Regulatory Compliance

The EGM was conducted in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Amit Gupta of M/s. Amit Gupta Associates, Practicing Company Secretary, served as the appointed Scrutinizer for the voting process. Bigshare Services Pvt Limited provided the e-voting platform for the remote voting process.

Strategic Implications

The unanimous shareholder approval reflects strong confidence in the company's growth strategy in the automation sector. With regulatory approvals now secured from shareholders, the company can proceed with the capital raising exercise to fund its expansion plans and strengthen its market position in the electrical equipment and automation industry.

Concord Control Systems Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice, updating key details regarding fund utilization and strategic acquisitions. The corrigendum, dated December 16, 2025, pertains to the EGM originally scheduled for December 20, 2025, at 12:30 PM through video conferencing.

Revised Fund Utilization Framework

The company has updated its fund allocation strategy for the preferential issue proceeds, with a total estimated amount of ₹50.09 crores distributed across multiple strategic objectives.

The fund utilization encompasses several key areas including meeting working capital requirements, business acquisitions, investments in subsidiaries, and providing loans to subsidiaries and associates in compliance with applicable provisions of the Companies Act, 2013.

Strategic Acquisition Through Share Swap

The corrigendum details a significant strategic move involving the acquisition of Progota India Private Limited shares. The company plans to issue 24,662 fully paid-up equity shares of ₹10 each, valued at ₹5.18 crores, to acquire 17,691 equity shares of Progota through a share swap arrangement.

Strategic Rationale and Market Positioning

The acquisition of increased stake in Progota India Private Limited represents a strategic and synergistic combination. The move aims to combine Concord's manufacturing and system-integration strengths with Progota's research and development capabilities. This strategic alignment positions the company to play a pivotal role in India's transition towards safer, smarter, and zero-emission rail transport systems.

The enhanced shareholding is expected to unlock multi-year growth opportunities and strengthen Concord's intellectual property base. The acquisition will drive sustainable long-term value creation for shareholders through deeper participation in India's rail safety and control systems market, expanding the company's presence in high-value technology domains including:

• Train automation systems
• Digital signalling technology
• Propulsion electronics

Compliance and Documentation

The corrigendum forms an integral part of the original EGM notice dated November 27, 2025, and should be read in conjunction with it. All other contents, terms, and conditions of the original EGM notice remain unchanged. The updated documentation is available on the company's website at www.concordgroup.in and on the websites of stock exchanges where the company's shares are listed.

The company will provide loans in due compliance with applicable provisions, including sections 179, 185, and 186 of the Companies Act, 2013. For business acquisitions and investments, the company will make necessary disclosures when triggers under Regulation 30 and Schedule III of SEBI LODR Regulations are activated.