Concord Control Systems profit rises 90% as revenue nearly doubles

Concord Control Systems Limited reported standalone profit of Rs 32.86 crore for the half year ended 30 September 2026, up 90% from Rs 17.27 crore a year earlier, while revenue from operations rose 96% to Rs 159.53 crore. The board approved the unaudited standalone and consolidated results on 2 November 2026.

How did Concord Control Systems perform in the half year to September 2026?

Concord Control Systems recorded a 96% year-on-year rise in standalone revenue and a 90% increase in profit for the half year ended 30 September 2026. Revenue from operations rose by Rs 77.98 crore from Rs 81.55 crore in the half year ended 30 September 2025 to Rs 159.53 crore. Total income increased to Rs 160.17 crore from Rs 83.01 crore, although other income declined to Rs 63.96 lakh from Rs 1.46 crore.

Profit before tax increased by Rs 22.40 crore to Rs 43.97 crore, compared with Rs 21.57 crore in the prior-year half. Tax expense rose to Rs 11.11 crore from Rs 4.31 crore, resulting in profit for the period of Rs 32.86 crore against Rs 17.27 crore. Basic and diluted earnings per share, which were not annualised, increased to Rs 31.64 from Rs 17.10.

Which costs changed most for Concord Control Systems?

Concord Control Systems’ material-consumption cost rose to Rs 92.20 crore in the half year to September 2026 from Rs 28.13 crore a year earlier, an increase of Rs 64.07 crore. Employee-benefit expense increased by Rs 2.60 crore to Rs 12.50 crore, other direct manufacturing expense rose by Rs 1.69 crore to Rs 3.84 crore, and other expenses increased by Rs 3.71 crore to Rs 9.51 crore.

The inventory-change line moved in the opposite direction. Changes in inventories represented a Rs 6.48 crore reduction in expenses in the latest half year, compared with a Rs 13.83 crore expense in the year-earlier period. Total expenses nevertheless rose to Rs 116.20 crore from Rs 61.43 crore, while total income increased 92.9% and expenses increased 89.2%. Profit before tax represented about 27.5% of total income, compared with about 26.0% a year earlier.

Why did Concord Control Systems’ finance cost rise in the half year?

The filing does not state a reason for the rise in Concord Control Systems’ finance cost, but it reports higher short-term borrowings at 30 September 2026. Finance cost was Rs 3.12 crore for the half year, up from Rs 53.63 lakh in the corresponding prior-year period. Short-term borrowings rose to Rs 70.97 crore at 30 September 2026 from Rs 39.15 crore at 31 March 2026, while long-term borrowings declined to Rs 11.36 crore from Rs 12.79 crore.

The balance sheet also recorded higher working-capital balances during the six-month period. Inventories were Rs 90.26 crore at 30 September 2026, compared with Rs 83.82 crore at 31 March 2026, and trade receivables increased to Rs 139.20 crore from Rs 121.26 crore. Short-term loans and advances rose to Rs 26.53 crore from Rs 7.46 crore, while cash and bank balances increased to Rs 34.34 crore from Rs 15.85 crore.

How did Concord Control Systems’ operating cash flow compare with profit?

Concord Control Systems reported profit before tax of Rs 43.97 crore in the half year to September 2026, but net cash used in operating activities was Rs 7.46 crore under the indirect method. Operating profit before working-capital changes was Rs 47.98 crore, which was reduced by a Rs 48.44 crore working-capital outflow and Rs 7.00 crore of taxes paid.

Trade receivables accounted for a Rs 17.94 crore cash outflow, while loans, advances and other assets accounted for a Rs 17.24 crore outflow. Inventories used Rs 6.44 crore, and trade payables and other payables declined by Rs 6.83 crore. Net cash from financing activities was Rs 31.18 crore, including Rs 31.83 crore from short-term borrowings, and cash and cash equivalents closed at Rs 26.49 crore, compared with Rs 4.11 crore at the beginning of the period.

How did Concord Control Systems compare with the preceding half year?

Concord Control Systems reported higher revenue and profit than in the immediately preceding half year ended 31 March 2026. Revenue from operations increased from Rs 128.93 crore in that half year to Rs 159.53 crore in the half year ended 30 September 2026, an increase of about 23.7%. Profit for the period rose from Rs 24.61 crore to Rs 32.86 crore, while profit before tax increased from Rs 35.08 crore to Rs 43.97 crore.

Several cost lines also increased sequentially. Finance cost rose from Rs 1.55 crore in the half year ended 31 March 2026 to Rs 3.12 crore, while employee-benefit expense increased from Rs 9.77 crore to Rs 12.50 crore. Depreciation and amortisation expense rose to Rs 1.52 crore from Rs 1.42 crore, whereas other expenses fell to Rs 9.51 crore from Rs 13.07 crore.

Conclusion

Concord Control Systems’ standalone filing shows that revenue growth of 96% to Rs 159.53 crore was accompanied by a 90% increase in profit for the period to Rs 32.86 crore. Profit before tax rose 103.8%, while material consumption increased sharply and the inventory-change line shifted from an expense in the prior-year half to a reduction in expenses in the latest period.

The unresolved working-capital position is the key disclosed item to watch in subsequent results. At 30 September 2026, receivables were Rs 139.20 crore, inventories were Rs 90.26 crore and short-term borrowings were Rs 70.97 crore, while the half year recorded Rs 7.46 crore of net cash used in operating activities despite Rs 32.86 crore of reported profit.