Control Print held a conference call on 23 January 2024 to discuss the results for the quarter ended December 2023 and way forward. Mr. Shiva Kabra - Joint Managing Director and Mr. Jaideep Barve - Chief Financial Officer of the company addressed the call.

Highlights of the Concall

• Net sales increased 14% to Rs 88.63 crore in Q3FY24 while it rose 20% to Rs 258.67 crore in 9MFY24 thereby continuing to focus on growth across the business and supported by higher share of consumable sales during the quarter.

• Higher mix of consumables led to higher gross margin. Manpower costs were higher due to annual incentives. Coupled with higher tax outgo, profit growth was lower.

• The company sold 630 printers in Q3FY24 and 2000 printers for about 9MFY24 as compared to about 3208 printers in FY23

• The company is more focused on large customers for printer sales where per print of business is significantly higher rather than total number of printers sold.

• Segment wise printer revenue was about 16%, consumables revenue about 62%, revenue from spares and others was 7% and revenue from service was about 14%.

• The company had increased prices around Q4 of last year and as a result most of the growth in 9-10 months is volume growth only.

• The company expects overall tax rate to be around 17-18%.

• The company has three growth initiatives - One is we started QRiousCodes, which is track and trace division, second is one exploratory product in the packaging area, which is called V Shapes and it has purchased Markprint. Also it is actively looking at some sort of digital printing, hybrid-type printing solutions that it is providing to customers.

• The company has invested about EUR 1.7 million in Markprint.