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.

Concord Enviro Systems Limited , a leading player in water and wastewater treatment solutions, has announced a robust order book of ₹5,354 Million, with an additional pipeline worth ₹27,000 Million. The company's latest financial results and strategic initiatives highlight its commitment to growth and innovation in the environmental technology sector.

Financial Performance

Concord Enviro Systems reported the following financial results for the second quarter:

The company's revenue declined year-over-year, which management attributes to an exceptionally strong Q2 FY25 that included significant billing from a Mexico project. Additionally, a delay in approvals for an African project may defer its execution to FY27.

Strategic Initiatives and Growth Prospects

Concord Enviro Systems is actively expanding its presence in high-margin green sectors:

1. Carbon Capture: The company plans to commission India's first 7.5TPD CO₂ capture unit in FY26, positioning itself at the forefront of this emerging technology.

2. Green Hydrogen: Concord is pursuing projects with EPC solution providers to integrate its desalination products into green hydrogen plant systems.

3. Semiconductor Effluent Solutions: The company is poised to offer solutions for upcoming semiconductor fab units in India, focusing on process optimization and energy reduction.

4. Compressed Biogas (CBG): Leveraging its expertise in anaerobic digestion, Concord has started offering design and implementation services for CBG plants from organic waste.

5. Solar PV Manufacturing: The company is developing solutions for the complex wastewater generated in solar cell manufacturing, using technologies like WHE and UHPRO.

R&D and Innovation

Concord Enviro Systems continues to strengthen its technological edge:

• Five new patents were granted, bringing the total to nine, with 21 additional applications filed.
• Successful completion of pilot field trials for Raw Effluent Membranes (REM), which could substantially reduce wastewater treatment costs.
• Development of heat exchangers using non-corrosive plastics for evaporation technology.
• Creation of a proprietary chemical mix to reduce silica in wastewater treatment.

Global Expansion

The company is maintaining its focus on international markets:

• Africa and North America remain key target regions.
• Export revenues have tripled over the past three years, with export contribution nearly doubling to 38.76% in FY25.
• The export order book stood at ₹1,820 crore in FY25, with the number of international customers growing from 21 in FY20 to 30 in FY25.

Management Commentary

Prayas Goel, Chairman & Managing Director, and Prerak Goel, Executive Director, commented on the results: "Q2 execution was in line with our order execution plan for the financial year 2026. The fundamentals of the business remain strong, baring a delay in an overseas project which may impact near term performance. Our healthy order book, growing presence across high-potential sectors, and continued investments in R&D and leadership give us confidence in our long-term growth trajectory."

Concord Enviro Systems' strategic focus on innovative environmental solutions and its expanding global footprint position the company to capitalize on the growing demand for sustainable water and wastewater management technologies. Despite short-term challenges, the company's robust order book and pipeline indicate strong potential for future growth.