Concord Control Systems boosts stake in Progota India to accelerate Kavach ATP rollout

Concord Control Systems Limited (BSE:CNCRD) announced a further investment to acquire up to 46.5% equity shares in Progota India Private Limited. This strategic move aims to accelerate the commercialization and nationwide deployment of Kavach 4.0, India's Automatic Train Protection (ATP) solution, and expand reach and supply capabilities for this critical rail safety technology.

The increased stake aligns with the "Atmanirbhar Bharat" and "Make-in-India" initiatives, positioning Concord and Progota as key contributors to India's rail modernization. Progota India, incorporated in 2021, specializes in railway automation and Kavach ATP systems, with a focus on scientific and technological services, R&D, and development contracts for Indian Railways.

The partnership leverages Concord's manufacturing and system-integration strengths with Progota’s R&D capabilities to institutionalize and scale in India’s rail-safety market. The Indian Railways' policy includes rolling out Kavach on approximately 13,000-15,000 locomotives and across 70,000 track kilometers, indicating robust demand for Kavach systems and strong revenue visibility for technology suppliers.