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Revenue
₹118.84 Cr
verified against source
Revenue YoY
15.96%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Control Print reported standalone Q3 FY26 revenue of ₹109 crore, up 16% YoY, driven by coding & marking growth of ~15%. EBITDA grew 21% YoY, but PAT lagged at 19% YoY due to higher tax provisions. Employee costs rose sharply (28% YoY) partly due to one-time labor code provisions and incentive accruals; other expenses also increased. Management expects cost optimization in Q4. The packaging business (Vshapes) continues to face execution delays, with only one machine shipped in Q3; guidance for India packaging breakeven by Q1/Q2 FY27 and Italy by Q3/Q4 FY27. Track & trace pilots are progressing, with two large pharma contracts in final negotiation. Key risk: sustained cost inflation or further packaging delays could pressure margins.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects standalone revenue growth to continue in the 15% zone for FY26, driven by coding & marking market growth and product advantages.
- The Indian packaging (Vshapes) business is expected to break even in Q1/Q2 FY27 and become profitable by Q3/Q4 FY27 as technical issues are resolved and volumes ramp up.
- The Italian packaging subsidiary is expected to break even in Q3/Q4 FY27 after resolving machine quality issues and executing the order backlog.
- Management is closely monitoring employee and other expenses and expects better margins in Q4 through cost control measures.
Risks flagged
- Vshapes machine shipments have been delayed due to technical issues; only one machine shipped in Q3. Further delays could prolong losses and delay breakeven.
- Employee costs rose 28% YoY due to labor code provisions and incentive accruals. If not reversed, margins could remain under pressure.
- Laser printers pose a gradual threat to consumable revenue, though management argues safety and material limitations restrict adoption. Chinese competitors may ignore safety norms.
- Two large pharma track & trace contracts are in legal negotiation; delays could push revenue recognition and market share gains.
Key quotes
- We have not been able to execute orders or besides one machine or something. I think in the last quarter or this I mean Q3 and Q2. So because of that we have a little bit of a backlog.
- The core coding and marketing business is still as profitable on a gross margin basis... it has grown in profitability.
- We are quite convinced that the standalone and the consolidate will start merging in this coming financial year.
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