- 20 Oct 2022
- ICICIdirect Research
Control Print posted decent set of Numbers for Q2FY23CONTROLPR - 521 Change: 8.25 (1.61 %)
· Revenue for the quarter came in at Rs 71.5 crore, up 13.9% YoY & 8% QoQ. Raw Material cost increased both YoY and QoQ which resulted in lower GMs.
· Control Print registered an EBIDTA margin of 24.8% vs 25.1% YoY, Absolute EBIDTA came in at Rs 17.7 crore, vs. Rs 15.8 crore in same quarter last year. Employee cost came in at Rs 13.8 crore up 16.1% YoY, Other Expenses came in at Rs 11.9 crore up 14.5% YoY.
· Tracking its operating performance, Control Print ended the quarter with a PAT of Rs 11.4 crore vs. Rs 9.8 crore in Q2FY23.
Control Print has installed base of 15,000+ printers and still continues to grow which augurs well for growth in consumable sales. It also challenges its competitor accounts in key sectors like building materials, FMCG, Pharma & Dairy. Company is focusing on developing new software for customers so they can provide customized support to them. With focus set on acquiring new customers along with proving support to existing customers Control Print is set to have good years ahead and thus we remain Bullish on stocks.