Control Print Ltd

Financial Performance

• Standalone Q1 revenue approx ₹107 crore; standalone operating revenue ≈ ₹105 crore.
• Consolidated Q1 operating revenue ₹115 crore, vs ₹111 crore prior year.
• COGS standalone about 42% of operating revenue; manufacturing costs 3%; depreciation 4%.
• Last three full-year revenues: ₹460 cr, ₹395 cr, ₹347 cr, ₹295 cr respectively.

Segment and Operations

• Coding & Marking remains the largest segment, about 95% of standalone revenue.
• Track & Trace division gaining traction with new solutions and co-packaging pipeline.
• Mask lab now PPE and safety division; expanding product range.
• CP Italy costs being streamlined; sales force expanded; in-house optimizations underway.
• Packaging division gains in co-packaging; overseas subsidiaries monitored with growth targets.
• V-Shapes execution issues persist; demand is believed to exist if execution improves.
• Track & Trace TAM about ₹500-₹600 crores; could rise to ₹1,500 crores with regulation expansion.
• Exports contribute ~4-5% of quarterly revenue.

Q&A Takeaways

• V-Shapes demand exists but execution challenges currently limit sales.
• CP Italy: streamline costs, strengthen sales, and complete product tuning before scale.
• Track & Trace TAM expansion hinges on government regulation; current evidence suggests potential peak.
• Track & Trace revenue ~₹20 crores in last financial year; current quarter not disclosed.
• Assam plant incentives suspended; commissioning timeline uncertain.

Outlook and Guidance

• Standalone Coding & Marking growth expected in the 10%–15% range for the year.
• Packaging to break even in the first half of next year (FY28 half-year).
• Core coding business margins to stay stable; FX impacts may be offset by pricing.
• V-Shapes investments to pause further this year; focus on product execution and cost control.

Risks and Watchpoints

• Execution risk in V-Shapes and CP Italy; successful scale remains uncertain.
• Raw material volatility impacting packaging margins and project economics.
• Regulatory risk for Track & Trace QR code mandate.
• Overseas subsidiaries’ performance and cross-border IP transfers affecting cash flows.

AGM details

• AGM held July 23, 2026 at 4:00 PM IST via VC/OAVM; record date July 10, 2026.

Resolutions and outcomes

• Resolution 1: Adopt audited standalone and consolidated financial statements for year ended 31 March 2026; passed.
• Resolution 2: Declare final dividend of Rs 6 per share for FY2025-26; passed.
• Resolution 3: Re-appoint Basant Kabra as Director (retiring by rotation); passed.
• Resolution 4: Ratify Cost Auditor remuneration for FY ending 31 March 2027; passed.
• Resolution 5: Ratify ESOP Scheme 2025; passed.

Dividend details

• Final dividend of Rs 6 per equity share; payable to holders on record date July 10, 2026.

Directors

• Director Basant Kabra re-appointed; designation: Director; term as per retirement-by-rotation.

Auditors

• Cost Auditor remuneration for FY ending 31 March 2027 ratified.

ESOP

• Employee Stock Option Scheme 2025 ratified; special resolution.

Financial results approved

• Standalone and consolidated unaudited results for quarter ended 30 June 2026 approved; limited review unmodified.

IP rights acquisition

• IP Assignment with CP Italy SRL for IP rights; INR 3,120.11 Lakhs; intangible assets under development.

Accounting framework and segment

• Single reportable segment: Coding & Marking Applications; results prepared under Ind AS.

Auditor scope and notes

• Auditors' reviews on standalone and consolidated results; Sri Lanka branch not reviewed.

Meeting Details

• Date and time: Friday, 24 July 2026 at 12:00 P.M. IST.
• Type and mode: earnings conference call, virtual.
• Organizer: Kaptify Consulting.
• Event name: Q1 FY27 Post Earnings Conference Call.

Participants

• Key company participants: Joint Managing Director; Chief Financial Officer.

Purpose

• Purpose: discuss Q1 FY2027 results with investors and shareholders.

Additional Notes

• Registration via Kaptify; joining details emailed after registration.

Meeting Details

• Board meeting scheduled for Thursday, July 23, 2026.
• Time of meeting not disclosed.
• Location not disclosed.

Key Agenda Items

• Un-audited standalone financial results for quarter ended June 30, 2026.
• Un-audited consolidated financial results for quarter ended June 30, 2026.

Other Notes

• Trading window remains closed; will reopen after 48 hours from intimation dated July 27, 2026.
• Notice available on company website.

Dematerialisation status

• Dematerialisation requests processed and confirmed to depositories for the reporting period.
• Securities dematerialised have been listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates received for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within 15 days.

Instruments/Facilities Rated

• Long-term bank facilities rated CRISIL BB INC/Stable.
• Short-term bank facilities rated CRISIL A4+ INC.

Rating Agency

• CRISIL Ratings Limited.

Rationale

• Ratings migrated following initiation of withdrawal; non-default statement not submitted.
• Migration indicates absence of default-related information rather than new metrics.

Material Changes

• Initiation of rating withdrawal by the company triggered CRISIL migration.