It will happen at some point of time. But, before that, the current equity capital must be over 10Cr. For that, I think there will be bonus issue at some point of time.
But i think their equity capital is already 54cr? I used below
Equity Capital = Share Capital (6cr) + Reserves and Surplus(48cr). Correct me if am wrong
Herewith sharing the post earnings management call today.
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It was supposed to get field trial order for Kavach. Company said soon in last concall. Any updates any body have ? Company seems to be not updating about new orders like other SME company does. Any one tracking or holding the company have any updates ? Its employee strength is increasing and same is in its subsidiaries and associates as well
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Company updates its order book and the performance only during half yearly results presentation and management investor calls. I have noticed, this company works silently and delivers as per guidance. I think the management is not worried about the stock price. I hope the company would continue to perform well.
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Usually the company is media shy, today after a long time it has announced a significant milestone by developing India’s first 100% indigenous zero emission propulsion system for diesel locomotive conversion. I think this could open up big opportunities for the company.
2852648f-e7fd-4772-ad63-b00e7bf846f1.pdf (1.2 MB)
Disclosure: Invested at lower levels. Not a buy recommendation.
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Now here comes the Bonus issue. Next is definitely migration to main board as hinted by the management in their last investor call.
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Diesel locomotive conversion is good area. Indian railways have over 4000 diesel locomotive but Indian railway have decided to keep 2500 as it is and not change so TAM reduces drastically. Company should have given TAM as well.
Also now Kavach has 13 players as per DRDO.
This looks quite good and achievable. Presented quite well. Concord is really expanding its horizon. Any one got any recent interaction with CS or management ? When is Kavach 4.0 of progota getting approval ? Between 3/5 bonus declared by company.
Concord Control Systems Limited Bags First Order of KAVACH 4.0 through Progota India
Private Limited, Associate Company to supply Indian Railways.
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Thanks to KRISH for explaining the SiL4 Certification:
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3-5 years to reach this stage in Kavach. It means other than 13 current kavach vendors there would not be any new addition as most pie would be distributed in next 3-4 years.
Anyone attended today Concord control system, Arihant capital meet. I have following question if someone can address who attended the meet.
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Recently the company has made a press release informing tech developed for diesel to electric locomotive conversion. What is the status of that in terms of orders, any order received for this tech. ? What is the total addressable market in it annually ?
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40-50% revenue guidance was given by the company before Kavach order and Diesel to electric locomotive tech development. So the guidance remains the same even after these two tech. under company’s kitty or is changed now? If not changed, why so ?any explanation given by management.
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Any export order company has obtained in H1 FY25-26 ? or any bids have been submitted ?
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Any confirmed orders in DPWCS ?
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Expected Kavach share to Progota till 2030 ?
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40% to 50% is a “conservative guidance.” The company maintains the annual guidance for the next 3 to 5 years.
However, when the management mentions “conservative,” it’s clear that they are likely to do better than that. It’s always better to under promise and over deliver.
In my personal view, it would not be surprising if the company grows at a CAGR of 60% to 70% over the next three years.
On Kavach, the current order is just for field trials. Once this is completed and the SIL4 certification is achieved (currently 70%), the potential will be clear. Having said that, it’s a big market and even if there are 10-12 players, everyone will get a decent pie. The management will submit tenders after complete approval and is unlikely to speculate on the extent of orders they might get.
Overall, the management does not want to give a speculative order inflow number. However, there is no doubt that they are moving in the right direction and increasingly transforming into a “technology” based railway company than just “product” based.
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Faisal , any order company got for diesel to electric locomotive tech as they developed ? Recently they really presented it as a big thing. Also last concall they said DPWCS orders will be soon. Already few months since last concall so in this concall also no DPWCS or anaconda orders ?? Yes they are claiming to be tech company but where are the orders in tech division ?? What do you think ?
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Yea this is what company said about Kavach and SIL4 in Arihant capital concall, so on dot.
On DPWCS, it seems to me that they have won orders worth INR60cr for the first half of the current FY.
Sourced this information from here - Tender Result - Contract Award For Advanced Rail Controls Private Limited Government
This is a good start with bigger orders likely in the coming years.
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If we consider this INR60cr for DPWCS and INR20cr for Kavach, it’s likely that the total order intake for 1H will be well in excess of INR100cr.
Possibly between 120cr to 150cr of order intake.
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What a great input. Thanks a lot. Thats like 50% of FY25 revenue