Concord Enviro Systems Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, in compliance with Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was prepared by ICRA Limited, the appointed monitoring agency for tracking the utilization of IPO proceeds.

IPO Proceeds and Utilization Status

The company's Initial Public Offer, which opened on December 19, 2024, and closed on December 23, 2024, raised total proceeds of INR 500.326 crore. The net proceeds available for the stated objects amount to INR 162.076 crore, slightly lower than the originally estimated INR 162.892 crore due to higher actual issue-related expenses.

Object-wise Progress Analysis

The monitoring agency report reveals varied progress across different investment objectives. The company has completed one major object - the investment in wholly owned subsidiary Concord Enviro FZE for debt repayment, utilizing the full allocated amount of INR 50.000 crore.

Deployment of Unutilized Funds

The company has prudently deployed its unutilized proceeds in fixed deposits with ICICI Bank Limited, earning returns ranging from 2.75% to 7.25%. The total deployment amounts to INR 74.239 crore across multiple fixed deposits with varying maturity dates.

Compliance and Implementation Timeline

The monitoring agency confirmed no material deviations from the disclosed objects of the issue. All project implementations remain on schedule according to the original timeline specified in the offer document. The company has obtained necessary approvals and maintains compliance with regulatory requirements.

Key compliance highlights:

• No deviation from original investment objects
• All utilization aligned with offer document disclosures
• No changes in means of finance for disclosed objects
• Government approvals being obtained as per schedule
• No unfavorable events affecting project viability

General Corporate Purpose Utilization

Under the general corporate purpose category, the company utilized INR 19.845 crore out of the allocated INR 19.864 crore primarily for working capital requirements. The funds were deployed through payments to wholly owned subsidiary Concord Enviro FZE for material procurement, supporting the company's operational needs.

The monitoring agency report demonstrates the company's systematic approach to fund utilization while maintaining transparency and regulatory compliance throughout the process.

Concord Enviro Systems Limited has announced its Q3 & 9M FY26 financial results for the quarter and nine months ended December 31, 2025, alongside the appointment of Mr. Anish Goel as Chief Financial Officer. The company reported a net loss of ₹4.20 crores in Q3FY26 compared to a profit of ₹3.77 crores in the corresponding quarter of the previous year.

Q3 & Nine Months FY26 Financial Performance

The company's standalone financial results show mixed performance across different periods. While Q3FY26 witnessed challenges, the nine-month performance remained positive with significant growth in profitability.

Exceptional Items and Tax Impact

The Q3FY26 results were significantly impacted by exceptional items totaling ₹3.90 crores related to the implementation of new Labour Codes. The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws, which resulted in incremental gratuity liability and increased leave liability for the company.

Leadership Appointment

Concord Enviro Systems has appointed Mr. Anish Goel as Chief Financial Officer effective February 12, 2026. Mr. Goel brings over 20 years of experience across diverse industries including Media & Entertainment, FMCG, Manufacturing, Telecom, and Agri-products. He has previously worked with reputed organizations such as Disney Star India, Netflix India, Sterlite Technologies, Godrej Consumer Products, Tata Steel, and Olam International.

IPO Proceeds Utilization

The company provided an update on the utilization of IPO proceeds raised in December 2024. Out of the total net proceeds of ₹1,620.76 crores, ₹908.30 crores have been utilized, with ₹712.46 crores remaining unutilized and temporarily invested in bank deposits.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 12, 2026, with statutory auditors Deloitte Haskins & Sells LLP conducting a limited review of the quarterly results.