Control Print Limited — PPTs, 26-05-2025: Investor Presentation

1. Financial Highlights:

Control Print posted record standalone Q4 revenue of Rs 110 Cr, up 13% YoY and 12% QoQ. FY25 standalone revenue rose 12% to Rs 385 Cr. Gross margin declined to 58.3% due to a higher share of printer sales. EBITDA grew 10% to Rs 27 Cr with a margin of 24.7%. PAT jumped 422% to Rs 73 Cr, boosted by deferred tax assets; adjusted PAT increased 68% YoY. Consolidated Q4 revenue increased 21% to Rs 122 Cr, with full-year sales up 18% to Rs 425 Cr. EBITDA and PAT margins saw some pressure, partly from overseas subsidiaries, but PAT more than doubled. The balance sheet is strong with higher equity and zero borrowings.

2. Strategic Initiatives & Growth Drivers:

The company is expanding its coding & marking business globally through acquisitions and subsidiaries in the Netherlands, UK, and Middle East. It’s scaling its track & trace offerings via QRiousCodes for brand security and supply chain visibility. Entry into packaging with single-dose sachet tech through V-Shapes aims at robust growth. Planned capex in Nalagarh and Guwahati supports manufacturing and R&D enhancements to back volume expansion.

3. Business Developments:

Control Print has secured controlling stakes in Markprint BV, Codeology Group Ltd, and CP Italy SRL (V-Shapes packaging assets), alongside setting up a Middle East entity to tap Gulf markets. Increased shareholdings in subsidiaries strengthen consolidation and control. New product launches and geographic expansions fuel both organic and inorganic growth.

4. Market Position & Competitive Advantage:

As the sole Indian company among the top four coding & marking players in India, Control Print holds around 19-20% of the organized market (~Rs 385 Cr standalone in a Rs 2,000-2,200 Cr industry). Its Make-in-India manufacturing edge, a vast installed base (21,000+ printers), and presence across 1,700+ cities underpin market leadership. Global operations provide access to advanced tech and diversified revenue streams. A growing focus on cloud-based track & trace strengthens its positioning amid anti-counterfeiting and regulatory demand.

5. Investor Implications:

Robust revenue growth, global expansion, and a diversified product portfolio offer clear growth potential. High PAT growth, driven by tax benefits, signals improving earnings quality. New avenues in track & trace and packaging provide multi-year growth catalysts. Risks include integration challenges from acquisitions and margin pressure internationally. Emphasis on consumables and client additions can support sustainable margins. Overall, a promising growth outlook with manageable execution risks.