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Concurrent Technologies Plc (COTGF) Discusses Full Year Results and Leadership Transition with Strategic Business Updates April 17, 2026 6:30 AM EDT

Company Participants

Miles Adcock – CEO & Executive Director
Kim Maria Garrod – CFO & Executive Director

Presentation

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Operator

Good morning, and welcome to the Concurrent Technologies Plc Final Results Investor Presentation. [Operator Instructions]

Before we begin, I would like to submit the following poll. And I would now like to hand you over to CEO, Miles Adcock. Good morning to you.

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Miles Adcock
CEO & Executive Director

Good morning, and welcome to our full year results for 2025.

Next slide, please. So my name is Miles. I’m the CEO. This is my fourth set of annual results, and I’m joined by Kim, our CFO. And I should note that at the same time as we issued our full year results, we also announced that Kim has decided to retire at the end of this year. My good friend and colleague, Kim, do you want to say a few words?

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Kim Maria Garrod
CFO & Executive Director

Yes. So I achieved a milestone birthday this year, and that made me rethink what I was going to do. So I have decided to retire, but I’m in the business until the end of the year. I’m very excited about the business, and I will be watching it very closely after I’ve gone, and I’ll be regularly calling Miles for updates. But I’m fully committed to the business. And as I say, I’ll be taking out for most of this financial year.

Miles Adcock
CEO & Executive Director

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Thank you, Kim. And just to note, Kim has generously given us until the end of the year to seek a replacement, and I’ve engaged Korn Ferry this week, and we’re working hard at finding a worthy successor.

Mumbai: A clutch of large IPOs is expected to prop up India’s primary market in 2026 even as market uncertainty slows down broader activity compared to the previous two robust years, said Ranvir Davda, co-head of investment banking at HSBC India.

“The number of deals may come down, but the size and aggregate value may still be similar (to the previous years),” said Davda in an interview.

Reliance Industries’ telecom arm Jio Platforms, National Stock Exchange, Zepto, PhonePe, Manipal Hospitals and and SBI Funds Management are among the large issuances expected to hit the market in 2026. Together, these issues could raise ₹1 lakh crore (about $10.8-10.9 billion).

So far this year, 20 companies have raised $2.5 billion, according to Prime Database and ETIG Database. That comes after two record years that saw 94 and 115 mainboard IPOs in 2024 and 2025, raising nearly $21-23 billion.

This year’s IPO fundraise could be between $21 billion and $25 billion.

“This year, a larger percentage of companies are mid to large-sized,” said Davda. “Many of these are backed by large groups or private equity investors and, therefore, have the flexibility to wait, ride volatility, and avoid pressing forward if valuations are not aligned.”
The early part of this year has been slower for the IPO market, with the West Asia conflict weighing on secondary markets, IPO subscriptions and listing gains, prompting several companies to defer offerings. “This year will be volatile. Windows to complete trades will be shorter, so readiness is critical,” Davda said.

At the same time, companies that need capital are showing more willingness to negotiate.

Issuers are increasingly tapping AIFs, family offices and special situations funds alongside traditional investors, while using pre-IPO placements as a bridge to raise capital with visibility to a listing over the next 6-18 months, he said. According to Davda, technology faces sharper scrutiny amid AI disruption, global uncertainty and profitability concerns, though large consumer-tech and fintech offerings are still likely to proceed as “must-own” India exposures.