Concord Control Systems has secured a major contract worth ₹139.32 crores from Indian Railways for locomotive wireless control systems, marking a significant business achievement for the electrical equipment manufacturer. The contract has been awarded to the company's wholly owned subsidiary, Advanced Rail Controls Private Ltd, which specializes in railway technology solutions.

Contract Details

The substantial order from Indian Railways encompasses the supply, installation and commissioning of locomotive wireless control systems, a critical component in modern railway operations. The contract value represents a significant addition to the company's order book and demonstrates its capabilities in the specialized railway technology sector.

Management Commentary

Nitin Jain, Joint Managing Director of Concord Control Systems Limited, highlighted the transformational nature of this order, stating that the landmark order for locomotive wireless control systems marks a transformative step in modernizing Indian Railways. He emphasized the company's unwavering commitment to delivering cutting-edge technology that enhances safety, efficiency, and reliability in rail operations, aligning perfectly with the nation's infrastructure vision.

The management expressed pride in contributing to India's rail transformation and looks forward to executing this project with excellence, bolstered by strong support and unwavering commitment from Indian Railways.

Strategic Significance

This contract win from Indian Railways underscores Concord Control Systems' strategic positioning in the railway infrastructure market through its subsidiary operations. Advanced Rail Controls Private Ltd serves as the company's specialized wholly owned subsidiary for railway technology solutions, enabling focused expertise in locomotive control systems and related technologies.

The locomotive wireless control system represents advanced technology that enhances operational efficiency and safety in railway operations. This contract demonstrates the subsidiary's technical capabilities and market recognition in delivering sophisticated railway control solutions to India's national railway network.

Business Impact

The ₹139.32 crore contract from Indian Railways represents a substantial business opportunity for the Concord Control Systems group. With an execution timeline of 18 months from commencement, this order win strengthens the company's position in the railway technology segment and validates its investment in specialized subsidiary operations for targeted market segments.

The contract execution through Advanced Rail Controls Private Ltd highlights the company's strategic approach of leveraging subsidiary expertise to capture opportunities in specialized technology domains within the broader electrical equipment and control systems market, particularly in the domestic railway infrastructure sector. The company is well-positioned to outperform its initial targets, coupled with the accelerating monetisation of railway infrastructure modernisation.

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.