Concord Enviro Systems Ltd IPO
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Concord Enviro Systems Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 71.37 L | ₹ 46.41 L | ₹ 24.98 L | ₹ 110.9 L | BSE | ₹ 500.33 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 19 Dec, 24 | 23 Dec, 24 | 21 | ₹ 13,965 | Book Building | 27 Dec, 24 |
Concord Enviro Systems Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Engineering |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 6.69x | 3568661 | 23882166 |
| NII | 14.47x | 1070598 | 15488928 |
| Retail | 5.67x | 2498063 | 14163492 |
| Employee | 0x | 0 | 0 |
| Total | 7.5x | 7137321 | 53534586 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Concord Enviro Systems Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 496.86 | 343.22 | 329.37 |
| EBITDA | -0.17 | -8.38 | 0.93 |
| PAT | 2.32 | -8.43 | 0.99 |
| Total Assets | 6.43 | 2.83 | 5.91 |
| Share Capital | 9.10 | 9.10 | 0.43 |
| Total Borrowings | 5.00 | 2.48 | 4.64 |
| Operating Activities (Net Cash) | 2.34 | -8.41 | 1.01 |
| Investing Activities (Net Cash) | 49.58 | 48.29 | 48.95 |
| Financing Activities (Net Cash) | 5.00 | 2.48 | 4.64 |
| Net Cashflow | 0.01 | 0.03 | 0.22 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Concord Enviro Systems Ltd
Our Company was originally incorporated as Concord Enviro Systems Private Limited under the provisions of the Companies Act, 1956 pursuant to a certificate of incorporation dated July 1, 1999, issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). The name of our Company was subsequently changed to Concord Enviro Systems Limited, upon conversion into a public company, pursuant to a board resolution dated May 23, 2022, and a shareholders' resolution dated May 25, 2022, and a fresh certificate of incorporation was issued by the RoC consequent upon change of name on conversion to public limited company on June 9, 2022.
Industrial water and wastewater management encompasses sourcing chemicals, treatment agents, and equipment, along with managing water sources. It involves treating raw water and wastewater through various processes. Wastewater treatment aims to convert wastewater into environmentally suitable effluent, meeting national and international standards for returning to the water cycle. The industrial wastewater treatment market serves a variety of end-users, such as refineries, chemicals, power, textiles, and pharmaceuticals sectors. Similarly, industries suppliers are suppliers providing products like pumps, piping, electrical and instrumentation systems, control systems and membranes while our participants are EPC Companies, design consultants and system integrators.
We are a provider of water and wastewater treatment and reuse solutions, including zero liquid discharge (ZLD) technology. ZLD systems are wastewater treatment solutions designed to recycle and recover clean water from industrial effluents, leaving behind solid waste or residue. We have in-house capabilities to develop solutions across the entire value chain including designing, manufacturing, installation and commissioning, operations and maintenance (O&M) and digitalization solutions including IoT. The sources through which we generate our revenue include (i) sale of systems and plants (ii) operations and maintenance of installed plants, and (iii) supplying consumables and spares for installed plants. Our reach extends to diverse regions with exports to countries in North America, Latin America, Africa, the Middle East, and Southeast Asia, serving 310 and 377 customers worldwide as of August 31, 2024 and March 31, 2024, respectively.
Peer Comparison:
- No Listed Industry Peers
- Praj Industries Ltd
- Ion Exchange (India) Ltd
- Triveni Engineering and Industries Ltd
- Va Tech Wabag Ltd
- Thermax Ltd
Concord Enviro Systems Ltd IPO Key Points
Strengths
- Expertise in ZLD technology in India and well placed to harness global industry opportunities.
- Integrated solutions provider supported by backward integrated manufacturing facilities.
- Established presence in large international markets.
- Diversified customer base across multiple industries and geographies.
- Focus on innovation supported by R&D and design capabilities.
Risk
- The company's business is dependent and will continue to depends on its manufacturing facilities. For Fiscal 2024 and the five-months ended August 31, 2024, for its manufacturing facilities at Vasai and Sharjah, the company total operating costs were Rs. 1,312.26 million and Rs. 861.68 million, respectively. The company is subject to certain risks in its manufacturing process which are outside the company control. Any such risks if materialised, could have an adverse effect on its business, results of operations, financial condition and cash flows.
- Its capacity utilization has been low in the five months ended August 31, 2024, Fiscal 2024, Fiscal 2023 and Fiscal 2022, which exposes it to higher production costs and lower profitability. Low capacity utilisation in the future may adversely affect its business, results of operations and financial condition. Information relating to the installed manufacturing capacity of its two manufacturing facilities included in this Red Herring Prospectus are based on various assumptions and estimates and future production and capacity may vary.
- The company is dependent on and derives a substantial portion of its revenue (more than 50%) from its top 10 customers. During August 31, 2024 and Fiscal 2024, our revenue from the company top 10 customers was Rs. 1,127.41 and Rs. 2,779.95 million, which is 54.69% and 55.95% of its revenue from operations respectively. Cancellation by customers or delay or reduction in their orders could have a material adverse effect on its business, results of operations and financial condition. The company is also have a number of Government customers which exposes it to various risks inherent in doing business with them, which may adversely affect its business, results of operations and financial condition.
Strategy
- Add new capacity for the manufacture of membrane modules, WHE modules and containerised plants.
- Expand into new sectors for wastewater reuse and zero liquid discharge.
- Expand our presence in existing geographies and enter new markets.
- Cross sell new products to existing customers.
- Leverage our in-house capabilities to address the growing demand for IoT applications in the water and wastewater sector.
- Expertise in ZLD technology in India and well placed to harness global industry opportunities.
- Integrated solutions provider supported by backward integrated manufacturing facilities.
- Established presence in large international markets.
- Diversified customer base across multiple industries and geographies.
- Focus on innovation supported by R&D and design capabilities.
How To Apply for Concord Enviro Systems Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
