AR23 notes
Domestic market share: 19% market share
Technology
- Next generation CIJ printer – Pench
- Indigenously adopted technology of Manufacturing the Laser Printer at Nalagarh Factory. Now company has CO2, Fibre Printer in product range for Printing of Metal, Carton, PET Bottle and Containers etc.
- Development of 230 ml. Maxi Cartridge is completed. The serial production and commercial sale has started. This is Unique Model in present Market and the Company is obtaining the IP Rights for this Product.
- Through partnerships with various R&D firms and in-house development initiatives, company has gained ownership of crucial technologies such as Thermal Inkjet (TIJ), Drop-on-Demand Valvejet, and Piezo Dropon-Demand Inkjet technology
- R&D spends: 2.36 cr. (all expensed out)
Miscellaneous:
- Small Character Printer (SCP): Continues to increase its installed base in all major industry verticals like Dairy, Pipes, Wire & Cable, Steel, FMCG, Food & Healthcare
- Laser business continues to expand with improvement of product technology, especially the fibre laser
- Large Character Printer (LCP): Grew significantly in non-cement business like Plywood, Steel & Metal, Building Material.
- Impressive growth rates were registered by Thermal Inkjet Printer (TIJ), High Resolution Printer (HiRes), company is getting good leads for replacement of other market printers
- Coding and marking industry in India is expected to witness 9.85% CAGR growth from FY21 (1936 cr.) to FY27 (3403 cr.)
- Recently, Indian Government added a new requirement for QR codes on domestic and imported Active Pharmaceutical Ingredients (APIs) further driving the need for an industry specific solution. They offer regulatory compliant solutions to print information and identification codes on packaging
- Established in-house software team to offer traceability solutions for pharmaceuticals, food & beverages, and consumer goods to monitor their supply chain (from origin to consumption) to ensure the quality and safety of their products
- V Shapes SRL JV formed in December 2022 to offer eco-friendly single dose sachets and packaging machinery, expanding beyond coding and marking. V Shapes produces packaging with ‘Snap and Squeeze’ technology, allowing for easy opening without cutting or tearing
- Acquired 75% stake in Markprint BV (1.5mn euro), a prominent provider of high-speed printing and coding solutions, to expand reach in the European market. Useful for high-quality single-pass printing for packaging and industrial applications. Resulted in 9.7 cr. goodwill
- Innovative Codes: Revenues: 7.89 cr., PAT: (-0.09 cr.)
- Subsidiary financials
- Mr. Jaideep Barve appointed as new CFO w.e.f. 1 August 2022
- 300+ sales and service field workers spread throughout 9 branch offices in India and 1 branch in Sri Lanka
- Reconsidered and decided to continue Sri Lankan operations for servicing existing installed printers, providing consumables and foreseeable opportunities
- Exports to 12 countries Sri lanka, Bangladesh, Nepal, Bhutan, Kenya, Italy, Tanzania, Germany, Indonesia. Company has exported components used in Printer Manufacturing to its Technology Partners KBA-Metronic in Germany. Company has also started exporting components to KBA Metronic Plant in China
- Forex outgo: 70.92 cr., forex earned: 9.31 cr.
- 767 permanent employees (81 contractual employees vs 62 in FY22)
- Median remuneration of employees
- Contributed 1.63 cr. towards CSR (1.63 cr. more than required)
- Contingent liabilities: 6.56 cr. (IT demand)
- Investment in shares: 52 cr. (vs 39.31 cr. in FY22)
- Receivable provisioning (increase in write-offs in past 2-years)
- Other expenses breakup
Disclosure: Invested (sold shares in last-30 days)
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