Concord Control Systems Limited, a prominent company in the industrial automation sector, has submitted an official communication to the BSE Limited on April 19, 2025, declaring that it does not fall under the Large Corporate category as per the criteria outlined in the SEBI Circulars. The company clarified that, based on its financial position as of March 31, 2025, it is not required to file any disclosures under the Large Corporate framework for the Financial Year 2025-26.

The SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172, dated October 19, 2023, along with the previous operational guidelines, laid down specific criteria for companies to be classified as Large Corporates. This classification is significant because it determines whether a company must comply with additional disclosure and governance requirements under the Securities and Exchange Board of India (SEBI) regulations.

In its submission, Concord Control Systems affirmed that it does not meet the criteria for Large Corporate status. This is crucial for investors and stakeholders as it implies that the company is not required to comply with certain enhanced disclosure obligations for the fiscal year 2025-26, which may involve reporting on significant borrowings, credit ratings, or other aspects outlined in the SEBI Circulars.

As per the declaration, the outstanding borrowings of the company as of March 31, 2025, amount to INR 5.20 Crores. This figure is part of the company’s Initial Disclosure under the SEBI guidelines, which helps categorize entities under the Large Corporate framework based on their borrowing and credit profile.

The company also noted that it does not have a highest credit rating from a recognized credit rating agency during the previous financial year, which further exempts it from the large corporate obligations that are typically tied to a higher credit rating.

The disclosure filed by Concord Control Systems also highlighted that the company is not required to pay any fines to the stock exchange in case of a shortfall in borrowings as per the provisions of the SEBI framework. This again underscores the company's current non-applicability under the Large Corporate category.

Concord Control Systems’ confirmation and declaration provide clarity to the BSE and other stakeholders regarding the company’s compliance standing for FY 2025-26. This timely update ensures that investors, analysts, and market participants have an accurate understanding of the company’s regulatory obligations and status.

This disclosure follows the regulatory requirements set forth in the SEBI Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613, updated on April 13, 2022, and also aligns with the SEBI Circular SEBI/HO/DDHS/CIR/P/2018/144, dated November 26, 2018, ensuring full compliance with the latest standards.

Key Details from the Declaration:

1. Outstanding Borrowing: As of March 31, 2025, the company has an outstanding borrowing of INR 5.20 Crores.

2. Credit Rating: No highest credit rating was assigned by a recognized credit rating agency in the previous fiscal year.

3. Stock Exchange Fine: The company is not required to pay any fines to the stock exchange in case of a shortfall in required borrowings.

Conclusion:

This disclosure aligns with Concord Control Systems' commitment to transparency and regulatory compliance, ensuring that its stakeholders are well-informed of the company's financial and governance standing. By confirming that it does not qualify as a Large Corporate, the company demonstrates its proactive approach to fulfilling SEBI's obligations, while maintaining clarity on its financial health and operational standing.

As the fiscal year progresses, stakeholders can expect further updates from the company in accordance with SEBI guidelines and other relevant regulations. This announcement also highlights Concord Control Systems’ ongoing dedication to fostering investor confidence through regular and detailed disclosures.

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