Control Print – Deserves attention?

Another good quarter for the company, with 26% sales growth and 21% EPS growth. Growth was largely driven largely by rampup in consumable sales. The recent enforcement of barcodes on top 300 drugs is a material positive for their track & trace division. Concall notes below

FY24Q1

• Printer base increased to 17500+ (sold 650 printers in Q1 vs 750 in Q1FY23). Lower sales was due to some technology problems
• Revenue breakup: printers (17%), consumables (63%), spare parts (7%), service (13%)
• Markprint quarterly revenues was 2.35 cr.
• A large part of coding and printing market is driven by regulations. For e.g. company will benefit due to enforcement of new regulation of barcode for top 300 medicines
• Buyback should be seen as a special dividend given in a more tax efficient manner

Disclosure: Invested (sold shares in last-30 days)

Didn’t buyback, I have turned into a slow seller, I try to sell in tranches over a few months.