Ashish Kacholia, Mukul Agrawal portfolio stock hits upper circuit for sixth straight session; here's why

Concord Control Systems shares remained locked in a 2 percent upper circuit at ₹1,312.65 on Monday, May 19, following the company's robust financial performance for the second half of FY25 (H2FY25). This marks the sixth straight session of upper circuit gains for the smallcap company, which counts ace investors Ashish Kacholia and Mukul Agrawal among its shareholders.

The rally comes on the back of strong growth in both revenue and profit metrics. For H2FY25, the company reported a 50 percent sequential rise in consolidated revenue from operations to ₹74.7 crore, compared to ₹49.7 crore in H1FY25. On a year-on-year basis, revenue jumped 113 percent from ₹35 crore in H2FY24.

Net profit came in at ₹14.4 crore in H2FY25, marking a sequential growth of 73 percent from ₹8.3 crore in H1FY25. On a YoY basis, profit more than doubled from ₹7 crore in H2FY24 — highlighting strong operational momentum.

EBITDA for H2FY25 stood at ₹15 crore, up 7 percent from ₹14 crore in the previous half and 67 percent higher compared to ₹9 crore in H2FY24. However, EBITDA margins narrowed to 20 percent from 28 percent in H1FY25 and 26 percent in the same period last year, signaling rising input or operational costs.

For the full financial year FY25, Concord Control Systems posted a 77 percent jump in net profit to ₹22.65 crore, while revenue surged 90 percent to ₹124.5 crore. In FY24, the company had reported a net profit of ₹12.8 crore and revenue of ₹65.5 crore.

Backed by Market Veterans

According to the March 2025 shareholding pattern, Mukul Mahavir Agrawal holds a 3.81 percent stake in the company, while Ashish Kacholia owns 1.21 percent. The promoters continue to maintain a stronghold with a 67.06 percent stake, while retail investors hold 32.51 percent. Domestic Institutional Investors (DII) own a minor 0.43 percent stake.

Concord Control Systems is engaged in manufacturing and supplying coach-related and electrification products for Indian Railways and associated contractors. Its product offerings include inter-vehicular couplers, emergency lighting systems, carriage fans, exhaust fans, cable jackets, and components for the electrification of railway coaches. These include battery chargers, tensile testing machines, and other critical hardware.

Stock Performance

The stock has rallied 12.6 percent over the last six sessions, consistently hitting its 2 percent upper circuit limit each day. This surge comes on the heels of a steep correction earlier, during which the stock had hit its 2 percent lower circuit for nine consecutive sessions.

In May so far, the stock has remained largely flat, down 0.2 percent. It had gained 17.5 percent in April and 0.2 percent in March. However, it declined 30 percent in February and 4.2 percent in January, reflecting volatility in its price trajectory.

Despite the recent gains, Concord Control Systems still trades about 36 percent below its 52-week high of ₹2,062.05, touched in September 2024. On the upside, it has more than doubled — up 101 percent — from its 52-week low of ₹651.75, seen in June 2024.

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