Control Print Limited has released the transcript of its Q3 FY2026 Post Earnings Conference Call, which was held on January 30, 2026. The call featured insights from Joint Managing Director Shiva Kabra and Chief Financial Officer Jaideep Barve. On a standalone basis, the company reported total revenue of approximately ₹322 crore for Q3 FY26, an increase from ₹280 crore in the same period last year. Operating revenue for the quarter stood at ₹109 crore, up from ₹94 crore in Q3 FY25. The coding and marking segment, which constitutes 92% of the business, showed steady growth, with key performing verticals including pipes, food, healthcare, dairy, steel, and metal. The company is focusing on consolidating its coding and marking business, increasing its installed base, and providing more robust solutions, with price increases already implemented. The track and trace segment is also a focus for new solution development and customer acquisition. The safety division, which includes items like masks and helmets, has been re-established. Regarding international operations, particularly in Italy, the company is working through execution issues related to new packaging machines. While this has impacted consolidated profits, efforts are underway to ensure product reliability and execute existing orders, with expectations of improved performance in Q4 FY26 and Q1 FY27. Discussions also covered the impact of R&D expenses, which are expensed entirely and primarily allocated to Italy, potentially making its performance appear worse than reality. The company is also developing a single polymer recyclable material for its packaging division, with pilot lines expected to be operational by April/May 2026, which is anticipated to improve margins. Concerns about increased employee and other expenses were addressed, with the CFO explaining that a significant portion of the increase in employee costs was due to adjustments for gratuity and staff incentive provisions under the new labor code. Other expenses, including business promotion and travel, also saw growth, with a focus on cost control measures in Q4. The company addressed potential threats from laser printers, noting their limitations in material compatibility, contrast, and safety, particularly in certain industries like pipes. While lasers have limitations, the company believes its core business model is not significantly threatened, though adoption is expected to increase gradually, especially with aggressive marketing in some regions. Revenue breakup for Q3 FY26 in the coding and marking segment was 18% for printers, 58% for consumables, 7% for spares, and 15% for services. The installed base for printers stands at over 22,000, with over 2,100 printers sold in the nine months of FY26. The company expects the packaging business to reach breakeven in Italy by Q3 or Q4 of the current financial year and become profitable in India by Q1 of next year, leading to a homogenization of standalone and consolidated results.
