Control Print (522295) Q1 26/27 earnings summary

Executive summary

• Standalone Q1 FY27 revenue was approximately INR 107 crore, with operating revenue at INR 105 crore, up from INR 100 crore in Q1 last year; highest-ever standalone annual revenue of Rs 4,459.5 mn in FY26, with a 17% CAGR from FY21 to FY26.

• Coding & Marking remains the dominant segment, contributing about 95% of operating revenue, with a stable outlook and new customer additions; installed printer base surpassed 23,000 units, supporting strong recurring revenue from consumables.

• Strategic acquisitions in Europe, new manufacturing facility in Assam, and subsidiaries Markprint and Codeology are expected to drive future growth and digital printing solutions.

• Board approved unaudited standalone and consolidated financial results for Q1 FY27, with limited review reports expressing no material misstatements.

• Management is focused on cost optimization, operational efficiency, and long-term reputation over short-term sales.

Financial highlights

• Standalone Q1FY27 revenue: Rs 1,046 mn (INR 10,462.87 lakhs), up 4.2% YoY; consolidated Q1FY27 revenue: Rs 1,155.6 mn (INR 11,556.29 lakhs), up 3.8% YoY.

• Standalone Q1FY27 PAT (excl. exceptional): Rs 123.9 mn, down 28.3% YoY; consolidated PAT: Rs 39.2 mn, down 14.3% YoY.

• Standalone gross margin for Q1FY27: 57.68%, up 122 bps YoY; EBITDA margin: 20.15%, down 192 bps YoY.

• Dividend per share maintained at Rs 10 for FY26.

• 574 printers sold in Q1; exports contributed 4%-5% of Q1 revenue.

Outlook and guidance

• Coding & Marking business expected to grow 10%-15% for the year, with stable margins and continued market leadership.

• Exponential growth expected from recently launched/acquired products and capabilities over the next 5-7 years; focus on higher consumables sales.

• Track & Trace business to expand, especially with government mandates for top 1000 drugs; division is profitable at breakeven, with pilots ongoing.

• Packaging business (including V-Shapes) targeted to break even in the first half of next financial year; focus remains on execution and cost control.

• No major further investments planned in V-Shapes beyond IP transfer.