Concord Control Systems Limited has announced the outcomes of its board meeting held on November 5, 2025, including financial results and key appointments.

Financial Results

The company approved unaudited standalone and consolidated financial results for the half-year ended September 30, 2025. Key financial highlights include:

Corporate Governance and Appointments

Auditor Appointments

• M/s. Amit Gupta Associates appointed as Secretarial Auditor for FY 2025-26
• Ms. Avisha Sinha appointed as Internal Auditor for FY 2025-26

New Corporate Office

The company has adopted a new corporate office located at: 7th Floor, Shalimar Iridium, Shalimar Corporate Park, Gomti Nagar, Lucknow

Company Overview

Concord Control Systems operates in the manufacturing of electrical and electronic products for Indian railways. The company has one subsidiary, Advanced Rail Controls Private Limited, and two associate companies.

These developments reflect Concord Control Systems' commitment to financial transparency, strong corporate governance, and strategic positioning in the industrial control systems sector.

Concord Control Systems Limited has made a strategic move into the high-value electronic manufacturing sector by acquiring an 80% stake in Fusion Electronics Private Limited, India's largest flex printed circuit board (PCB) manufacturer. This acquisition marks Concord's entry into a niche, high-value product segment with significant import dependency in India.

Key Highlights of the Acquisition

Strategic Implications

The acquisition aligns with Concord's vision to become a global leader in Electronics Manufacturing Services (EMS) and to build India's most advanced railway ecosystem. By leveraging Fusion's technical expertise and infrastructure, Concord aims to:

1. Enter the flex PCB manufacturing segment, which has limited competition in India.
2. Deepen partnerships with railway industry leaders through integrated electronics offerings.
3. Expand its product portfolio across railway and industrial electronics.

Future Roadmap

Concord has outlined a plan for Fusion Electronics:

• Commercialize the Lucknow facility.
• Double the capacity over the next three years.
• Forward integrate into Surface Mount Technology (SMT), box build, and railway electronics.
• Create a standalone, high-value EMS platform serving strategic sectors.

Transaction Details

The acquisition is being executed through a Share Purchase Agreement (SPA). While the exact financial terms remain confidential, the transaction is expected to be completed within six months. The consideration is in cash, as per the terms of the agreement.

Management Commentary

Mr. Gaurav Lath, Joint Managing Director of Concord Control Systems, stated, "This acquisition is a landmark step towards our vision of becoming a global EMS leader. Fusion's technical expertise, global client portfolio, and advanced infrastructure perfectly align with our ambitions. With this integration, Concord will deliver unmatched quality, faster innovation, and an expanded product portfolio across railway and industrial electronics."

Conclusion

This strategic acquisition positions Concord Control Systems to capitalize on the growing demand for high-value electronic manufacturing in India, particularly in the railway sector. By combining Concord's manufacturing excellence with Fusion's specialized capabilities, the company aims to play a significant role in India's electronic manufacturing landscape and contribute to the country's self-reliance in critical technologies.

Investors and industry observers will be keenly watching how Concord leverages this acquisition to drive growth and innovation in the coming years.