Concord Control Systems Issues Rs 38 Crore Corporate Guarantee for Subsidiary
Concord Control Systems Limited has provided a corporate guarantee of Rs 38.00 crores to Axis Bank Limited for its wholly owned subsidiary, Advanced Rail Controls Private Limited. The guarantee aims to secure working capital and other short-term facilities for the subsidiary. This will be reflected as a contingent liability in Concord Control Systems' financial statements, with no immediate financial impact beyond the disclosure requirement. The company has stated that promoters and group companies have no interest in this transaction beyond their existing shareholding.
15May 25
Concord Control Systems Reports Mixed Q4 Results: Revenue Up, EBITDA Down
Concord Control Systems' Q4 results show a 6.84% year-over-year revenue increase to ₹375.00 crore and an 8.57% net profit growth to ₹76.00 crore. However, EBITDA declined by 23.66% to ₹71.00 crore, with EBITDA margin dropping from 26.50% to 18.93%. The contrasting performance indicates growth challenges alongside operational efficiency concerns.
07May 25
Concord Control Systems to Consider Preferential Share Issuance
Concord Control Systems Ltd. (CCSL) has announced a board meeting on May 14, 2023, to consider issuing shares on a preferential basis. This potential move could lead to capital infusion, changes in ownership structure, and possible strategic partnerships. However, it may also result in dilution of existing shareholdings. The final decision and terms are subject to board approval and regulatory compliance.