Shares of Concord Control Systems were in focus on Thursday after the company announced the acquisition of a 50% equity stake in Fusion Electronics Private Limited, entering the high-growth flex printed circuit board (PCB) manufacturing segment. The stock closed 1.52% higher at Rs 1,801, reflecting positive investor sentiment following the expansion update.
The acquisition, formalised through a definitive Share Purchase Agreement, makes Fusion Electronics an associate company of Concord. This strategic move positions the company in a specialised, import-dependent electronics segment, complementing its strong presence in railway engineering and control systems.
Fusion Electronics operates India’s largest flex PCB manufacturing facility, with an annual installed capacity of 2,00,000 sq. metres and a potential revenue scale of over Rs 200 crore at full utilization. The business also operates at EBITDA margins above 20%, signalling strong profitability characteristics aligned with Concord’s high-value manufacturing focus.
By entering the flex PCB market—a critical component category used across automotive, electronics, industrial systems, and defence—Concord aims to expand beyond railway systems and build a diversified, premium engineering and electronics platform. The company has outlined a three-year roadmap that includes doubling production capacity, integrating SMT and box-build lines, and scaling a standalone electronics manufacturing services (EMS) vertical.
The company also plans to commercialize the Lucknow facility before the year-end. As part of the ownership transition, Fusion saw board changes, including the resignation of former promoter Mr. Sameer Mehan and the induction of four new directors.
Strategic significance
Fusion’s client base includes marquee global brands such as Ferrari, BMW, Mercedes-Benz, Land Rover, Magneti Marelli, and Hella, strengthening Concord’s positioning in premium global supply chains. The company highlighted that this expansion supports self-reliance and import substitution under the Make in India initiative.
Stock performance snapshot
| Period | Return |
|---|---|
| 1 day | +4.69% |
| 1 week | +3.49% |
| 1 month | +12.44% |
| 3 months | +64.24% |
| 1 year | +79.25% |
| 3 years | +1379.08% |
| 5 years | +2354.94% |
The stock has demonstrated exceptional long-term wealth creation, supported by strong execution in the railway systems market and now reinforced by diversification into advanced electronics manufacturing.
Outlook
With a planned expansion into high-value EMS and niche industrial electronics alongside sustained investment in railway technology solutions, Concord continues building a multi-vertical engineering ecosystem. The company said the acquisition “strengthens our journey towards building India’s most advanced, high-value railway and electronics ecosystem — powering innovation, self-reliance, and growth.”
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