NSE: CONTROLPR · BSE: 522295
CONTROL PRINT LIMITED
Manufactures industrial coding and marking printers used to print batch codes, barcodes, dates and other variable data on packaging lines for industries such as cement, plywood, sugar, dairy, pipes, food, FMCG, cable & wire, and steel & metal. The standalone Coding & Marking franchise drives the bulk of consolidated revenue and is described in filings as the market leader in the cement, plywood, sugar and dairy verticals. Adjacent businesses include a Packaging division (V-Shapes/CP Italy), which has accumulated losses and whose breakeven has been pushed to H1 FY28 after roughly ₹65 cr of capital infusion including a ~₹31.2 cr IP purchase, and a Track & Trace pharma QR-code business generating about ₹20 cr in revenue at present. Smaller units include the CODEOLOGY and MARKPRINT coding subsidiaries and a mask/PPE division. Materials at 34.1% of revenue are the largest cost line, followed by employee costs at 22.8% and other operating expenses at 18.6%, with FY26 consolidated revenue of ₹481.96 cr and EBITDA margin of 19.69%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Coding & Marking (standalone), Packaging (V-Shapes / CP Italy), Track & Trace, Subsidiaries (CODEOLOGY, MARKPRINT), Mask lab / PPE & safety. Industrial equipment manufacturer with a high-margin coding franchise and a still-loss-making packaging diversification
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 256 | 304 | 359 | 425 | 482 |
| EBITDA (ex other income) | 62 | 76 | 86 | 80 | 93 |
| margin % | 24.4 | 25.1 | 24.0 | 18.8 | 19.2 |
| Owners' profit | 38 | 0 | 90 | 94 | 52 |
| EPS, as reported (₹) | 24.55 | 32.36 | 33.76 | 62.56 | 27.26 |
| ROE % · ROCE % | 15.6 · 18.1 | 17.9 · 20.6 | 16.3 · 21.3 | 24.3 · 16.4 | 9.7 · 16.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 49 | 55 | 50 | 50 | 50 |
| Capex | (9) | (27) | (42) | (27) | (26) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 103 | 122 | 111 | 112 | 119 | 140 | 116 | 144 |
| Profit before tax | 12 | 21 | 18 | 22 | 13 | 20 | 10 | 24 |
| Net profit | 8 | 67 | 9 | 19 | 5 | 11 | 4 | 13 |
| EPS (₹) | 5.17 | 41.66 | 5.35 | 11.62 | 3.29 | 7.00 | 2.45 | 8.21 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| GNG ELECTRONICS LIMITED | 6,746 | 47.9 | 8.88 | 36.1 | 17.4 | 18.7 | — | 12.0 |
| RASHI PERIPHERALS LIMITED | 4,914 | 12.7 | 2.04 | 12.6 | 9.8 | 11.3 | — | 3.6 |
| MOSCHIP TECHNOLOGIES LTD | 3,290 | — | 8.15 | 55.2 | (6.9) | (5.1) | 40.9 | (16.5) |
| NELCO LTD | 1,666 | 419.5 | 12.70 | 59.7 | 3.1 | 1.6 | 6.3 | 11.7 |
| D-LINK INDIA LTD | 1,441 | 13.1 | 3.10 | 10.7 | 12.0 | 15.9 | 16.6 | 8.2 |
| IVALUE INFOSOLUTIONS LTD | 1,210 | 12.4 | 2.00 | 8.5 | 6.4 | 8.3 | — | 14.5 |
| CONTROL PRINT LIMITED ◆ | 957 | 28.6 | 2.05 | 10.6 | 3.6 | 7.0 | 18.8 | 19.9 |
| BHARAT GLOBAL DEVELOPERS LIMIT | 840 | 307.4 | 4.42 | — | (0.1) | (0.1) | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.6 | 22.6 | 10 of 16 | 40% |
| P/B | 2.0 | 2.6 | 8 of 16 | 53% |
| ROCE | 7.0 | 7.6 | 10 of 18 | 47% |
| ROE | 3.6 | 3.4 | 8 of 16 | 53% |
| Debt / Equity | 0.0 | 0.1 | 6 of 16 | 67% |
| EBITDA margin | 19.9 | 7.3 | 2 of 15 | 93% |
| Revenue growth | 28.8 | (6.9) | 5 of 14 | 69% |
| Profit growth | (29.4) | (6.0) | 11 of 15 | 29% |
| Market cap | 957 | 571 | 7 of 19 | 67% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 3 Nov 2026 · Q2 FY27 operating revenue rises 29%; management expects margin improvement | investor communications | medium | — | — |
| 29 Oct 2026 · Control Print publishes unaudited results for September 2026 quarter | compliance | minimal | — | — |
| 29 Oct 2026 · Control Print uploads investor call audio for Q2 FY2027 | investor communications | low | — | — |
| 29 Oct 2026 · Q2 FY27 revenue rises 28%, but consolidated profit after tax falls 29% | investor communications | medium | — | — |
| 28 Oct 2026 · Q2 revenue rises 28%, but higher tax and foreign-unit losses pressure profit | results | high | — | — |
| 28 Oct 2026 · Q2 revenue rises 29%, but consolidated profit falls 29% | results | high | — | — |
| 24 Oct 2026 · Special window opens for re-lodging physical share transfer requests | compliance | minimal | — | — |
| 23 Oct 2026 · Control Print sets Q2 and H1 FY27 earnings call for October 29 | board shareholder meetings | low | — | — |
| 21 Oct 2026 · Board Meeting on Oct 28 to consider Q2 FY27 results | results | low | — | — |
| 13 Oct 2026 · Reg 74(5) compliance certificate for Q2 FY26 dematerialisation | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.