Concord Enviro Systems Submits Q3FY26 Monitoring Agency Report Under SEBI Regulations

Concord Enviro Systems Limited has submitted its monitoring agency report for the quarter ended December 31, 2025, in compliance with Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report was prepared by ICRA Limited, the appointed monitoring agency for tracking the utilization of IPO proceeds. IPO Proceeds and Utilization Status The company's Initial Public Offer, which opened on December 19, 2024, and closed on December 23, 2024, raised total proceeds of INR 500.326 crore. The net proceeds available for the stated objects amount to INR 162.076 crore, slightly lower than the originally estimated INR 162.892 crore due to higher actual issue-related expenses. Utilization Parameter: Amount (INR Crore) Total Net Proceeds: 162.076 Amount Utilized (Beginning of Quarter): 91.629 Amount Utilized (During Quarter): 11.258 Total Utilized (End of Quarter): 102.887 Remaining Unutilized: 72.113 Object-wise Progress Analysis The monitoring agency report reveals varied progress across different investment objectives. The company has completed one major object - the investment in wholly owned subsidiary Concord Enviro FZE for debt repayment, utilizing the full allocated amount of INR 50.000 crore. Investment Object: Allocated (INR Crore) Utilized (INR Crore) Remaining (INR Crore) CEF Capital Expenditure (Greenfield): 25.000 0.000 25.000 RSSPL Expansion (Brownfield): 10.505 0.000 10.505 Plant and Machinery Purchase: 3.207 0.000 3.207 CEF Debt Repayment: 50.000 50.000 0.000 CEF Working Capital: 20.000 16.130 3.870 Joint Venture Investment: 10.000 0.000 10.000 Technology and Growth Initiatives: 23.500 4.854 18.646 General Corporate Purposes: 19.864 19.845 0.019 Deployment of Unutilized Funds The company has prudently deployed its unutilized proceeds in fixed deposits with ICICI Bank Limited, earning returns ranging from 2.75% to 7.25%. The total deployment amounts to INR 74.239 crore across multiple fixed deposits with varying maturity dates. Investment Details: Amount (INR Crore) Maturity Return Rate Fixed Deposits (Multiple): 71.249 Jan-Apr 2026 2.75%-7.25% MA Account Balance: 0.396 - - Escrow Account Balance: 2.594 - - Total Market Value: 75.091 - - Compliance and Implementation Timeline The monitoring agency confirmed no material deviations from the disclosed objects of the issue. All project implementations remain on schedule according to the original timeline specified in the offer document. The company has obtained necessary approvals and maintains compliance with regulatory requirements. Key compliance highlights: No deviation from original investment objects All utilization aligned with offer document disclosures No changes in means of finance for disclosed objects Government approvals being obtained as per schedule No unfavorable events affecting project viability General Corporate Purpose Utilization Under the general corporate purpose category, the company utilized INR 19.845 crore out of the allocated INR 19.864 crore primarily for working capital requirements. The funds were deployed through payments to wholly owned subsidiary Concord Enviro FZE for material procurement, supporting the company's operational needs. The monitoring agency report demonstrates the company's systematic approach to fund utilization while maintaining transparency and regulatory compliance throughout the process. Concord Enviro Systems Limited has announced its Q3 & 9M FY26 financial results for the quarter and nine months ended December 31, 2025, alongside the appointment of Mr. Anish Goel as Chief Financial Officer. The company reported a net loss of ₹4.20 crores in Q3FY26 compared to a profit of ₹3.77 crores in the corresponding quarter of the previous year. Q3 & Nine Months FY26 Financial Performance The company's standalone financial results show mixed performance across different periods. While Q3FY26 witnessed challenges, the nine-month performance remained positive with significant growth in profitability. Financial Metric: Q3 FY26 Q3 FY25 Nine Months FY26 Nine Months FY25 Revenue from Operations: ₹133.35 crores ₹115.64 crores ₹382.36 crores ₹349.05 crores Total Income: ₹151.61 crores ₹119.83 crores ₹487.82 crores ₹358.33 crores Net Profit/(Loss): (₹4.20 crores) ₹3.77 crores ₹45.52 crores ₹12.52 crores Earnings Per Share: (₹0.20) ₹0.18 ₹2.20 ₹0.60 Exceptional Items and Tax Impact The Q3FY26 results were significantly impacted by exceptional items totaling ₹3.90 crores related to the implementation of new Labour Codes. The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws, which resulted in incremental gratuity liability and increased leave liability for the company. Tax Components: Q3 FY26 Amount Current Tax: ₹3.05 crores Deferred Tax Credit: (₹3.78 crores) Earlier Years Tax: ₹4.82 crores Total Tax Expense: ₹4.09 crores Leadership Appointment Concord Enviro Systems has appointed Mr. Anish Goel as Chief Financial Officer effective February 12, 2026. Mr. Goel brings over 20 years of experience across diverse industries including Media & Entertainment, FMCG, Manufacturing, Telecom, and Agri-products. He has previously worked with reputed organizations such as Disney Star India, Netflix India, Sterlite Technologies, Godrej Consumer Products, Tata Steel, and Olam International. Appointment Details: Information Name: Mr. Anish Goel Position: Chief Financial Officer Effective Date: February 12, 2026 Previous Role: Group CFO (since June 2, 2025) Experience: 20+ years IPO Proceeds Utilization The company provided an update on the utilization of IPO proceeds raised in December 2024. Out of the total net proceeds of ₹1,620.76 crores, ₹908.30 crores have been utilized, with ₹712.46 crores remaining unutilized and temporarily invested in bank deposits. IPO Utilization Status: Allocated Utilized Remaining CEF Debt Repayment: ₹500.00 crores ₹500.00 crores Nil CEF Working Capital: ₹200.00 crores ₹161.30 crores ₹38.70 crores General Corporate Purposes: ₹198.64 crores ₹198.45 crores ₹0.19 crores Technology & Growth Initiatives: ₹235.00 crores ₹48.55 crores ₹186.45 crores The financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on February 12, 2026, with statutory auditors Deloitte Haskins & Sells LLP conducting a limited review of the quarterly results. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. 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