Control Print (522295) Q3 25/26 earnings summary

Executive summary

• Standalone revenue for Q3 FY26 reached INR 1,093.2 mn, up 16.4% year-over-year, with nine-month revenue at INR 3,117.9 mn, up 13.3% year-over-year; consolidated Q3 revenue was INR 1,188.4 mn, up 15% year-over-year.

• Standalone EBITDA grew 21% year-over-year, while consolidated EBITDA increased 3.1% year-over-year.

• PAT (excluding exceptionals) rose 18.7% year-over-year on standalone basis but declined 36.4% on consolidated basis due to higher tax and international business performance.

• Installed base surpassed 22,000 printers, supporting future recurring revenue from consumables.

• Coding and marking segment contributed 92% of business, with steady growth and market leadership in cement, plywood, sugar, and dairy.

Financial highlights

• Standalone Q3FY26: Revenue INR 1,093.2 mn (+16.4% YoY), EBITDA INR 251.7 mn (+21% YoY), PAT INR 160.8 mn (+18.7% YoY), EPS INR 10.06.

• Consolidated Q3FY26: Revenue INR 1,188.4 mn (+15% YoY), EBITDA INR 178.3 mn (+3.1% YoY), PAT INR 52.6 mn (-36.4% YoY), EPS INR 3.29.

• Cost of goods sold (COGS) was 41% of operating revenue in Q3, compared to 42% for FY25.

• Employee costs rose to 19% of operating revenue in Q3, up from 16% in Q2 and 18% in Q1, mainly due to new labor code provisions and staff incentives.

• Gross margin for Q3FY26 at 58.09% standalone and 57.66% consolidated.

Outlook and guidance

• Focus on consolidating coding and marking business, increasing installed base, and developing new solutions.

• Price increases implemented; packaging business in India and overseas to be closely monitored for growth.

• Expect breakeven in Italy packaging business by Q3/Q4 FY27 and profitability in India packaging by Q1/Q2 FY27.

• Maintain mid-teen (16%) growth guidance for the year.

• Recently launched/acquired products and capabilities expected to drive exponential growth over the next 5–7 years.