Investor Presentation on the Financial performance of the Company for the half year and year ended March 31, 2026.

True Colors Ltd, India's only fully integrated digital printing ecosystem company, reported FY26 revenue of INR 301.55 Cr (up 29% YoY) with EBITDA of INR 46.98 Cr (15.58% margin) and PAT of INR 31.16 Cr (10.33% margin). The company has 900+ active machines in its installed base, generating 50.25% recurring revenue from inks and sublimation paper. H2 FY26 revenue was INR 150.43 Cr with margins declining to 15.89% EBITDA (down 772 bps vs H2 FY25) due to lower average realisations, product mix shift to lower GSM paper, and working capital pressures from MSME payment terms. Management guided that ink and paper realisations declined during the year, though volumes grew strongly at 19% YoY for inks. The company plans in-house ink manufacturing under the INKIA brand with Phase 1 targeting 150 TPM production by FY27.