Concord Enviro Systems Ltd

- There is no specific mention of current or planned new fundraising through debt or equity in the provided transcript. - The company completed a capital raise in FY '25, which supports ongoing investments and growth. - Investments and expansions, such as the Sharjah facility, are being funded by this existing capital. - Management expects to achieve targeted ROCE (~20%) following the completion of current investments by FY '27. - No explicit plans for additional debt or equity issuance were discussed during the call.

- **Sharjah Facility Expansion:** Currently at architectural stage; tender expected in July 2025; operational by July 2026. - **Capex Focus:** Investments ongoing in Sharjah plant through FY '26 and partly in FY '27. - **ROCE Target:** Aim to achieve ~20% ROCE post-completion of these capital investments. - **Strategic Growth:** Expansion supports accelerated growth path to match peer performance levels. - **R&D Investment:** Continued focus on in-house technology development with 9 patents awarded and 21 applications filed as of March 2025. - **Emerging Technologies:** Investment in developing solutions for solar PV, green hydrogen, carbon capture, semiconductors. - **IPO Proceeds:** Approximately Rs. 80 crore available post margin money, likely fueling ongoing and future investments.

- FY '25 revenue was ₹594.44 crore, up 19.64% YoY. - Expect strong growth of 18%-20% annually driven by water security and sustainability demand. - Product business (membrane sales) targets ₹30 crore in FY '26 and ₹85 crore over next few years, up from ₹7.8 crore. - O&M business expected to grow ~20% with capacity additions and third-party contracts. - Order pipeline around ₹2,000 crore with 30% conversion expected this year. - Expansion at Sharjah facility to be operational by July 2026, supporting international growth. - Entry into new sectors like solar PV, green hydrogen, carbon capture, and semiconductors to drive incremental revenues. - Expansion into U.S. market initiated, expected to accelerate international sales. - Goal to improve revenue mix with more even quarterly distribution as business scales.

- Expect strong growth in FY '26 supported by a healthy order book of Rs. 5,327 million as of March 31, 2025. - Revenue growth guidance around 18% to 20% annually driven by domestic and international demand. - Operational leverage anticipated to improve EBITDA margins, expected to remain healthy. - O&M business projected to grow at approximately 20%, faster due to capacity additions and third-party contract traction. - Product membrane segment targets significant scaling: from Rs. 7.8 crore in FY '25 to Rs. 30 crore in FY '26 and Rs. 85 crore in next few years. - ROCE target is to reach around 20% post completion and revenue ramp-up of new investments by FY '27. - International expansion, including the Sharjah plant operational by July 2026, will contribute to growth. - EBITDA expected to grow along with revenue, with 16% YoY growth achieved in FY '25 and further improvements expected.

- As of March 31, the order book stood at Rs. 5,327 million (~Rs. 532.7 crore). - The total pipeline of quotations under discussion is roughly Rs. 2,000 crore (exactly about Rs. 1,900 crore). - Of this pipeline, "hot orders" with substantial closure and winning possibility are about Rs. 400 crore. - The company expects to convert about 30% of the Rs. 2,000 crore pipeline into actual orders in the fiscal year. - Current order book composition: ~62% water projects, 15% compressed biogas (CBG), and 23% O&M. - Execution cycles: Water projects typically 12-18 months, CBG projects around 14 months. - Order book split: Rs. 180 crore from international markets and Rs. 350 crore from domestic markets.