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Concord Enviro Systems Ltd (CEWATER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544315 NSE: CEWATER Environmental Services | Small Cap | Concord Enviro Sys. Share Price

₹283.85 3.85 (1.38%)

As on 11-Sep'26 15:50

Concord Enviro Systems Ltd (CEWATER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544315 NSE: CEWATER Environmental Services | Small Cap | Concord Enviro Sys. Share Price

₹283.85 3.85 (1.38%)

As on 11-Sep'26 15:50

Key Metrics
Valuation Multiples
Market Cap
₹579 Cr.
Current Price
₹283.9
52-Week Low / High
₹235 / 538
TTM EPS
₹-3.4
TTM Sales
₹541 Cr.
Book Value per Share
₹268.4
P/E Ratio
0.00
Lower than its 3-year historical median
Industry PE
32.3
Price to Book (P/B)
1.04
Lower than its 3-year historical median
Price to Sales (P/S)
1.07
Lower than its 3-year historical median
EV/EBITDA
18.18
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
4.13%
Underperforms industry median
Return on Capital Employed (ROCE)
6.86%
Underperforms industry median
Return on Assets (ROA)
2.49%
Operating Profit Margin
17.8%
Net Profit Margin
4.09%
Gross Profit Margin
7.8%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
45.19%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-60.28%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-60.82%
Asset Quality
Promoter Holding
51.43%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹545 Cr.
Equity
₹10.4 Cr.
Face Value
₹5
All Time Low / High
₹235.05 / 859.95

Concord Enviro Systems stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Semi Strong
Q.1 Is Concord Enviro Systems Ltd a good quality company?
Concord Enviro Systems Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Concord Enviro Systems Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Concord Enviro Systems Ltd vs industry peers?
Concord Enviro Systems Ltd revenue CAGR is 41.60%, compared to the industry median CAGR of 29.24%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Concord Enviro Systems Ltd?
Promoters hold 51.43% of the Concord Enviro Systems Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Concord Enviro Systems Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of -46.08% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Concord Enviro Systems Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 2.1%0.7%-0.1%1.2%-18.3%-0.4%3.2%-
Value Creation
Index
-0.9-1.0-1.0-0.9-2.3-1.0-0.8-

Growth Parameters

Sales 9.29.93.13.53.83956.657
Sales YoY Gr.-8.4%-68.4%12.4%7.4%928.2%45.2%-
Adj EPS 15.76.4-311.6-4.71.91.72.5
YoY Gr.--59.6%-146.9%NA-140.2%NA-6.5%-
BVPS (₹) 1,177.41,183.51,180.6574.522.623.9100.7105.4
Adj Net
Profit
1.30.5-0.31-8.53.43.65
Cash Flow from Ops. -0.85.40.6-2.4-4.100.5-
Debt/CF from Ops. 0000000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NA41.6%152.1%45.2%
Adj EPS NA-22.9%-47%-6.5%
BVPSNA-38.9%-44%321.4%
Share Price - - - -44.6%

Key Financial Parameters

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
1.30.5-0.31.3-18.782.82.4
Op. Profit
Mgn %
1.27.82.9-63.9-305.80.82.4-2.1
Net Profit
Mgn %
14.65.5-8.128.1-224.58.66.39
Debt to
Equity
0000000-
Working Cap
Days
024641542938729161309
Cash Conv.
Cycle
0-4-92-322-370-66-88263

Valuation of Concord Enviro Sys. - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales298383348329343497594558
Operating Expenses + 226309287275299378500520
Manufacturing Costs24344323
Material Costs127177170138145222298293
Employee Cost 41484252586785107
Other Costs 568172819187114118
Operating Profit 72746155441199538
Operating Profit Margin (%) 24.0%19.4%17.5%16.6%12.9%24.0%15.9%6.7%
Other Income + 2278715528
Exceptional Items 00000000
Interest 3043212020182222
Depreciation 2222252524161117
Profit Before Tax 221223198996426
Tax 75322363
Profit After Tax 15819165965823
PAT Margin (%) 5.1%2.1%5.5%5.0%1.6%19.3%9.8%4.1%
Adjusted EPS (₹)257.3127.6321.6193.43.022.824.99.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + -35-20-11269281323534572
Share Capital 0001991010
Reserves -35-20-11267272313523561
Debt +312362364115120141126147
Long Term Debt23553241332384
Short Term Debt773573327386118118142
Minority Interest00000000
Trade Payables7999847487116137162
Others Liabilities 64879388115606488
Total Liabilities 419528529545602639861969

Fixed Assets

Net Fixed Assets +79100136149139104107136
Gross Block101135161198217169121167
Accumulated Depreciation2235254878651430
CWIP 45800274
Investments 1320202256606693
Inventories122158118134150154173220
Trade Receivables127148152128106171174264
Cash Equivalents 1912202982328966
Others Assets 5584748168116245186
Total Assets 419528529545602639861969
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 44146249117-355-23
PBT 231223198445823
Adjustment 6072384445383721
Changes in Working Capital -36-676-968-112-87-59
Tax Paid -3-4-5-4-4-5-3-9
Cash Flow From Investing Activity + -24-12-22-28-50-3-12253
Capex -15-14-21-28-5-10-26-21
Net Investments 000-0-464-9767
Others -92-101216
Cash Flow From Financing Activity + -23-1-33-12-27-4125-1
Net Proceeds from Shares 0000001750
Net Proceeds from Borrowing 4-12918-8-10-15-4
Interest Paid -17-18-19-18-19-18-21-21
Dividend Paid 00000000
Others -1018-43-12-024-1424
Net Cash Flow -217941-42728
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)N/AN/AN/A12.82231.8513.594.13
ROCE (%)N/AN/AN/A10.216.8726.3315.166.86
Asset Turnover Ratio0.710.810.660.610.60.80.790.61
PAT to CFO Conversion(x)2.931.753.263.0623.4-0.360.09-1
Working Capital Days
Receivable Days155.50131.10157.80155.50124.60101.80106143.30
Inventory Days149133.10144.70139.70151.20111.60100.30128.30
Payable Days225.30183.50196.40208.20201.70166.80154.40186.50

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Announcements

Concord Enviro Systems Ltd FAQs

The current trading price of Concord Enviro Sys. on 11-Sep-2026 15:50 is ₹283.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Concord Enviro Sys. stood at ₹579.5 Cr

The latest P/E ratio of Concord Enviro Sys. as of 10-Sep-2026 is 112.3.

The latest P/B ratio of Concord Enviro Sys. as of 10-Sep-2026 is 2.66.

The 52-week high of Concord Enviro Sys. is ₹538.4 and the 52-week low is ₹235.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Concord Enviro Sys. is ₹57.16 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Concord Enviro Systems Ltd is a average quality company.

The key valuation ratios of Concord Enviro Systems Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Concord Enviro Systems Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About Concord Enviro Systems Ltd

Concord Enviro Systems Limited 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 RoC. Pursuant to a memorandum of understanding dated August 18, 1999 executed between the company, and ‘Universal Blenders’, a partnership firm constituted pursuant to partnership deed dated August 19, 1992, as amended, the company took over the assets and liabilities of Universal Blenders, which ceased its business operations, and whose operations were taken over and carried in the name of the Company with effect from July 3, 1999. The name of the 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.

The company is a global provider of water and wastewater treatment and reuse solutions, including zero liquid discharge (ZLD) technology. It has in-house capabilities to develop solutions across the entire value chain including designing, manufacturing, installation and commissioning, operation and maintenance (O&M) and digitalization solutions including Internet of Things (IoT). The sources through which it generates its revenue include (i) sale of systems and plants (ii) operations and maintenance of installed plants, and (iii) supplying consumables and spares for installed plants. Its business operations include Systems and Plants, operations and maintenance and Consumables and Spares. It has also implemented digitalization solutions (including IoT) to provide data capture and analysis platforms that enable real-time monitoring, troubleshooting and preventative maintenance of its installed systems and plants.

It is an integrated provider of wastewater treatment and ZLD solutions, with focus upon energy optimization and recovery helping industries achieve water conservation and sustainability goals. It also provides its solutions to customers on a turnkey basis. Its integrated solutions incorporate its own custom designs for systems and plants including effluent treatment plants, anaerobic digestors, membrane bio-reactors, sewage treatment plants, membrane-based systems including ultra-filtration (UF), nano-filtration (NF), reverse osmosis (RO), desalination systems and waste heat evaporators (WHE). In addition, it offers its customers a comprehensive suite of O&M services including providing consumables and spare parts. It has also implemented digitalization solutions (including IoT) to provide data capture and analysis platforms that enable real-time monitoring, troubleshooting and preventative maintenance of its installed systems and plants.

Business area of the company

The company is engaged in the business of manufacturing water treatment systems, water pollution control equipment, bio filters, resource recovery systems using membrane technology and operational and maintenance services.

History and milestones

  • 1992-1993: Company received an enquiry for the supply of a reverse osmosis distillation plant to the Indian Navy for user and evaluation trials.
  • 1994-1995: Company ventured into offshore seawater desalination equipment supply via its Subsidiary, Rochem Separation Systems (India) Private Limited.
  • 1994-1995: Order from Goa Shipyard Limited for supply of RO type fresh-water generators for survey vessel yards.
  • 1994-1995: Investment by Rochem Group S.A., Switzerland, into 50% equity share capital of its Subsidiary, Rochem Separation Systems (India) Private Limited.
  • 1995-1996: First order for RO system to be installed on submarines.
  • 2000-2001: Expanded into industrial wastewater reuse through its Subsidiary, Rochem Separation Systems (India) Private Limited by industrial installation along with Aurobindo Pharma Limited.
  • 2006-2007: Set up operations in Sharjah Airport International Free Zone through incorporation of its Subsidiary, Blue Water Trading and Treatment (FZE).
  • 2006-2007: Acquisition by Concord Shipping Private Limited of 50% of the equity share of its joint venture from Rochem AG by purchase of shares of Rochem Separation Systems (India) Private Limited held by Rochem AG
  • 2008-2009: Company expanded its customer segment through its Subsidiary, Rochem Separation Systems (India) Private Limited to the oil and gas sector.
  • 2009-2010: The company acquired the entire shareholding in Reva Enviro Systems Private Limited pursuant to a share purchase agreement dated June 2, 2009.
  • 2009-2010: Earned a total income of Rs 1,000 million in the financial year 2009-10.
  • 2010-2011: Expanded its manufacturing and export facilities in the UAE through incorporation of its Subsidiary, Concord Enviro FZE.
  • 2010-2011: Company expanded its customer segment through its Subsidiary, Rochem Separation Systems (India) Private Limited to the food and beverage sector.
  • 2013-2014: Expanded product portfolio with High Pressure Reverse Osmosis (“HPRO”) and Low-Pressure Reverse Osmosis (LPRO) plants.
  • 2014-2015: Sold NF membrane plant through its Subsidiary, Rochem Separation Systems (India) Private Limited.
  • 2016-17: Incorporation of Roserve Enviro Private Limited, to carry on business of owning and providing on rent/ lease, operating/ maintaining and buying, selling, reselling, all kinds of reverse osmosis plants and allied equipment, machinery, plants, and other equipment.
  • 2017-2018: Rochem Separation Systems (India) Private Limited installed its first HPRO System.
  • 2018-2019: Commercialization of waste heat evaporators by its Subsidiary, Rochem Separation Systems (India) Private Limited.
  • 2018-2019: Commencement of exports to China and Africa, by its Subsidiary Concord Enviro FZE.
  • 2022: Largest export order till date received from one of its international customers namely Diageo Mexico Operaciones, S.A. De C.V.
  • 2024: Orders received for: Integrated membrane brine concentrator for RO rejects from Ranjan Polysters Limited; and Complete wastewater package from refinery sector from Megha Engineering & Infrastructures Limited.

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