Concord Enviro Systems Limited (CEWATER) AI Stock Analysis

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Concord Enviro Systems Limited

(NSE:CEWATER)

Select Model

Rating:56Neutral

Price Target:INR 232.00▲(3.36% Upside)

Action:reiterated

Date:09/19/26

The overall score is driven primarily by a mixed financial profile where strong growth, a larger equity base, and reduced leverage are offset by sharply compressed margins and volatile, recently negative cash generation, raising concerns about earnings quality and liquidity. Valuation is weak due to the negative P/E and lack of dividend support, while technical indicators point to a slightly weak, volatile trend without strong upside momentum, leading to a mid‑range score that balances the growth platform against elevated financial and valuation risk.

Positive Factors

Strong Revenue ExpansionThe sharp FY2026 revenue increase demonstrates substantial recent expansion in the company’s business activity and customer demand. If the larger revenue base is maintained, it can support greater operating scale, broaden market reach, and provide a foundation for future earnings growth.

Negative Factors

Weak Cash ConversionRepeated negative operating and free cash flow indicates that reported profits have not consistently translated into cash available for reinvestment, debt service, or other uses. The reversal after strong FY2023 cash generation points to an ongoing cash-conversion weakness that could constrain financial flexibility.

Concord Enviro Systems Limited (CEWATER) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 4.67B
Dividend Yield: ―
Average Volume (3M): 15.12K
Price to Earnings (P/E): -29.7
Beta (1Y): 1.42
Revenue Growth: -1.19%
EPS Growth: -133.27%
Country: India
Employees: 1,141
Sector: General
Sector Strength: 55
Industry: Environmental Services

Concord Enviro Systems Limited Business Overview & Revenue Model

Company Description

Concord Enviro Systems Ltd., founded in Mumbai, India, in 1992, delivers comprehensive solutions for water and wastewater treatment and reuse. The company's portfolio includes various treatment plants, such as facilities for effluent, anaerobic diges...

Concord Enviro Systems Limited Financial Statement Overview

Summary

Strong revenue growth, expanding assets and equity, and declining leverage support the financial profile, but sharply weaker margins and volatile, recently negative operating and free cash flow despite positive earnings limit overall strength to a moderate level.

Income Statement

63Positive

Balance Sheet

78Positive

Cash Flow

39Negative

Financial statement breakdown
Breakdown	TTM	Mar 2025	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	5.56B	5.92B	5.58B	4.95B	3.41B	3.27B
Gross Profit	2.07B	2.67B	875.09M	2.47B	1.66B	1.58B
EBITDA	925.07M	979.90M	632.09M	1.36B	498.09M	615.78M
Net Income	475.64M	514.93M	197.57M	414.39M	54.87M	164.77M
Balance Sheet
Total Assets	0	8.49B	9.52B	6.28B	5.92B	5.37B
Cash, Cash Equivalents and Short-Term Investments	978.03M	857.15M	658.02M	282.30M	776.67M	196.06M
Total Debt	0	1.34B	1.67B	1.59B	1.70B	1.71B
Total Liabilities	-5.50B	3.15B	3.80B	3.05B	3.11B	2.68B
Stockholders Equity	5.50B	5.34B	5.72B	3.23B	2.81B	2.69B
Cash Flow
Free Cash Flow	-486.16M	-210.11M	-592.65M	-445.82M	1.12B	209.44M
Operating Cash Flow	-406.53M	47.48M	-387.10M	-346.68M	1.17B	490.34M
Investing Cash Flow	306.38M	-1.22B	470.43M	-32.69M	-498.30M	-278.85M
Financing Cash Flow	205.62M	1.25B	197.31M	-40.67M	-268.79M	-119.70M

Concord Enviro Systems Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price224.45

Price Trends

50DMA253.34Negative

100DMA277.56Negative

200DMA295.09Negative

Market Momentum

MACD-8.66Negative

RSI35.52Neutral

STOCH13.48Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CEWATER, the sentiment is Negative. The current price of 224.45 is below the 20-day moving average (MA) of 234.66, below the 50-day MA of 253.34, and below the 200-day MA of 295.09, indicating a bearish trend. The MACD of -8.66 indicates Negative momentum. The RSI at 35.52 is Neutral, neither overbought nor oversold. The STOCH value of 13.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CEWATER.

Concord Enviro Systems Limited Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:CEWATER against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:DENTA	64Neutral	INR 6.56B	13.72	―	1.02%	-4.18%	-27.85%
IN:BFUTILITIE	62Neutral	INR 16.95B	18.05	―	―	-12.77%	-36.47%
IN:CEWATER	56Neutral	INR 4.66B	-29.66	―	―	-1.19%	-133.27%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:DIACABS	49Neutral	INR 225.38B	74.61	―	―	109.33%	332.76%
IN:BAJEL	48Neutral	INR 18.49B	76.60	―	0.37%	0.22%	91.23%
IN:RELINFRA	45Neutral	INR 22.11B	0.70	―	―	-6.41%	-40.45%

* General Sector Average

Performance Comparison

IN:CEWATER and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:CEWATER	Concord Enviro Systems Limited	224.45	-196.75	-46.71%
IN:BAJEL	Bajel Projects Limited	162.15	-24.76	-13.25%
IN:BFUTILITIE	BF Utilities Ltd.	450.50	-233.15	-34.10%
IN:DIACABS	Diamond Power Infrastructure Limited	379.05	227.75	150.53%
IN:RELINFRA	Reliance Infrastructure Limited	55.24	-133.41	-70.72%
IN:DENTA	Denta Water and Infra Solutions Limited	245.45	-144.10	-36.99%

Concord Enviro Systems Limited Corporate Events

Concord Enviro Systems Confirms All Shares Fully Dematerialised for September Quarter

Oct 12, 2026

Concord Enviro Systems Limited has submitted to Indian stock exchanges and depositories a compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September 2026. The certifi...

Concord Enviro Systems Publishes Q1 FY27 Earnings Call Transcript for Investors

Aug 17, 2026

Concord Enviro Systems Limited has released the official transcript of its Q1 FY27 earnings conference call, held on August 12, 2026, featuring Chairman and Managing Director Prayas Goel and Executive Director Prerak Goel. The company has filed this...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Sep 19, 2026

Concord Enviro Systems Limited AI Stock Analysis