Concord Enviro Systems Ltd

- The company plans to use proceeds raised from its IPO for new investments and capacity expansion. - There was no explicit mention of new fundraising through debt or equity in the provided document. - The focus is on utilizing IPO funds to increase capacity to reach revenue of INR1,300 to INR1,400 crores by FY 2028/29. - No specific plans or guidance on fresh debt or equity fundraising were disclosed in the discussions on pages 5 to 15.

- Concord Enviro Systems plans to invest proceeds raised from the IPO into capacity expansion, targeting revenue growth up to INR1,300-1,400 crores by FY 2028-2029. - Approximately INR20+ crores are allocated for further technology and licensing deals focused on advanced solutions, contract manufacturing, and enhancing competitiveness. - Funds will be deployed in the current quarter for technology licensing and value-added solutions in industrial waste, water reuse, and zero-liquid discharge sectors. - Strategic investments are focused on talent, technology advancements (such as new membranes and evaporation-based heat exchangers), and execution capabilities to drive long-term sustainable value. - Innovations include proprietary chemical mixes and new process separations targeting emerging sustainability areas like solar PV retrofitting, green hydrogen, and carbon capture. - There is an ongoing focus on expanding the compressed biogas (CBG) project portfolio with expected revenue scaling in coming years.

- Concord Enviro Systems targets a long-term growth rate of around 20% annually in revenue. - For FY 2026, revised guidance expects 12% to 15% growth due to project delays, especially in Africa. - For FY 2027 and beyond, management remains confident in maintaining ~20% growth based on strong inquiry pipeline and market conditions. - Domestic business is growing, while exports may shrink comparatively; overall growth across segments expected at 14%-15% annually. - Capacity expansions funded by IPO proceeds aim to achieve INR1,300 to 1,400 crores revenue in the medium term. - The introduction of new technologies and projects like Compressed Biogas (CBG) and carbon capture are expected to drive incremental sales. - CBG projects expected to start contributing revenue from FY 2026 with 14%-15% margin, with scalability in pipeline. - The company sees strong structural tailwinds such as increasing regulatory focus and rising water security needs supporting growth.

- Concord Enviro Systems targets around 18%-20% EBITDA margins over the long term for scalable projects. - The company expects revenue growth of approximately 14%-15% for FY 2026; growth of about 20% is anticipated for FY 2027 and beyond. - Margins for new Compressed Biogas (CBG) projects are currently around 14%-15%, with prospects to improve as scale and multiple projects progress. - O&M and spares business is a key growth area, targeted to constitute 40%-45% of revenues, supporting profitability. - Effective tax rate is expected between 12%-14%, balancing tax-free UAE operations and Indian taxes. - The company is confident of recovering from current project delays and maintaining sustainable long-term value creation. - Technology licensing and process innovations are expected to enhance margins and open new revenue streams.

- The current order book remains fairly flat with visibility supporting about 5-35% growth. - Several large projects are underway, including in Africa, with one facing delays in civil startup approvals, pushing revenue recognition to FY 2027. - Export order book showed some slippage, causing a shift of revenue to FY 2027. - Strong inquiry pipeline from India, Africa, Mexico, and South Africa driven by stringent wastewater discharge standards. - The company is L1 for a $6.7 million African project expected to start civils in Q4 FY 2026. - Also L1 for a nuclear sector seawater desalination tender (~INR 400 million), with order conversion expected by Nov-Dec 2025. - Industrial and CBG project pipelines remain robust with 3 to 5 new CBG projects targeted annually. - Overall order inflows expected to support growth of ~14-20% in coming years.