Transcript of the Analyst/Institutional Investor Meeting/Call on Financial Results for the half year ended September 30, 2025.
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Awaiting price reaction for this filing.
True Colors Limited hosted its first post-IPO earnings call discussing H1 FY26 results (April-September 2025). Total revenue grew ~63% YoY to INR 151 crore vs INR 92.8 crore in H1 FY25, with EBITDA margin at 16% and PAT margin at 10%. The manufacturing division rose to INR 68 crore from INR 46 crore, ink business reached INR 40 crore, and the machine business installed 60 machines worth INR 38.4 crore (vs INR 7 crore last year). Paper capacity was doubled from 1 crore to 2 crore meters/month with INR 6-7 crore capex, expected to add INR 60 crore in annual revenue. Management guided for ~30% YoY revenue growth and EBITDA margins in the 13-16% band. Bank term loans have been fully repaid, making finance cost effectively zero for now.
Strong operational momentum with high revenue growth, debt-free balance sheet, and doubled paper capacity creates a clear growth runway. Investors should note that margins may fluctuate based on the machine-to-consumables revenue mix, though the long-term story of recurring revenue from installed machines remains intact. The stock may react positively to the growth visibility and zero-debt status.