Concord Enviro Systems , a key player in the environmental solutions sector, has reported its financial results for the second quarter of fiscal year 2026, revealing a significant decline in revenue alongside revised growth projections for the full year.

Q2 FY26 Financial Highlights

The company experienced a 23% year-on-year decrease in revenue for Q2 FY26. This decline has been attributed to two primary factors:

1. Delays in approvals for projects in Africa
2. Absence of large project billing from Mexico, which was present in the previous year

Revised Guidance for FY26

In light of these challenges, Concord Enviro Systems has adjusted its financial outlook for the fiscal year 2026:

The company has lowered its revenue growth expectations for FY26 from the initial 18-20% to a more conservative 12-15%. Additionally, the EBITDA guidance has been revised downward by 1%, although the specific figures were not provided in the report.

Order Book and Future Projects

Despite the setbacks, Concord Enviro Systems maintains a robust order book:

• Current order book value: ₹5,354 crore
• Upcoming projects: Compressed Biogas (CBG) projects expected to commence in Q3

The stability in the order book value suggests that while current quarter performance has been impacted, the company still has a pipeline of projects that could potentially support future revenue streams.

Looking Ahead

The revised guidance and maintained order book indicate that Concord Enviro Systems is navigating through temporary challenges while still positioning itself for potential growth. The commencement of CBG projects in the third quarter could provide a boost to the company's performance in the latter part of the fiscal year.

Investors and stakeholders will likely be watching closely to see how the company manages these challenges and capitalizes on its project pipeline in the coming quarters.

Concord Enviro Systems Limited , a player in the waste water treatment sector, has reported no material deviation in the utilization of its Initial Public Offering (IPO) proceeds for the quarter ended September 30, 2025. The company's monitoring agency report, issued by ICRA Limited, confirms that the fund utilization is in line with the stated objectives of the issue.

IPO Fund Details

The company raised INR 175.00 crore through its IPO in December 2024, with actual net proceeds amounting to INR 162.08 crore. Here's a breakdown of the fund utilization:

Fund Utilization

The company has deployed the IPO proceeds across various objectives:

Investment of Unutilized Funds

Concord Enviro Systems has invested the unutilized funds totaling INR 85.59 crore in fixed deposits with ICICI Bank. These deposits offer interest rates ranging from 4.50% to 7.25%.

Project Status

ICRA Limited, the monitoring agency, has confirmed that all projects are on schedule. The company is progressing as per the timeline mentioned in the prospectus for various initiatives, including:

1. Developing an assembly unit for water and wastewater treatment systems
2. Expanding manufacturing facilities of its subsidiary, Rochem Separation Systems (India) Private Limited
3. Funding working capital requirements
4. Investing in technology and growth initiatives

Management Commentary

Prerak Goel, Executive Director of Concord Enviro Systems Limited, stated in the filing, "We are pleased to report that our fund utilization is in complete alignment with the objectives stated in our IPO prospectus. This reflects our commitment to transparent and efficient use of investor funds."

The company also held a conference call with investors on November 10, 2025, to discuss the results for the quarter and half year ended September 30, 2025. The audio recording of this call is available on the company's investor relations website.

As Concord Enviro Systems continues to execute its growth plans, investors will be keen to observe how effectively the company utilizes the remaining IPO proceeds to drive its expansion in the waste water treatment sector.