Control Print eyes revenues of Rs 350 crore by 2024

India's leading coding and marking technology company has 11 branches pan-India and an extensive presence across countries
Control Print eyes revenues of Rs 350 crore by 2024

Control Print facility at Nalagarh

Photo - Control Print

  • Control Print (CPL) is a Rs 750 crore market cap company with an annual revenue of Rs 205 crores in FY 2021

  • The industrial segment constitutes 65% of the business whereas the F&B and packaging space constitutes 35% of the business for CPL

  • The sales portfolio of CPL consists of 55% consumables (consists of Ink, cartridges, rentals and others), 25% spares and after-sale service, and 20 % equipment sales

  • Widest service network, with 360 plus field staff covering 1,700 cities pan-India

Founded in 1991, Control Print, India's premier integrated Coding & Marking solutions provider, is eyeing revenues of Rs 350 crore by 2024. The company is part of the Rs 1,500 crore coding and marking industry and is looking at a CAGR of 18% in the next 18 – 24 months as a part of its subsequent growth trajectory and market expansion. Having its state-of-the-art manufacturing facilities in Nalagarh, Himachal Pradesh and Guwahati, Assam, Control Print is looking at cutting-edge tech innovation using non-contact type coding and marking machines based on drop-on-demand continuous inkjet and laser technologies.

With a market cap of Rs 750 crore, it already owns more than 18% of India's coding and marking industry. With the new government regulations, the coding and marking market is poised to grow at a CAGR of 8 – 10 %, likely to touch Rs 3,500 crore by 2030 in India. With its wide variety of products, broad market penetration, and service network in more than 1,700 cities pan-India, while serving more than 2,500 pin codes, Control Print will likely launch new generation printers in the pipeline. Control Print is the only fully integrated 'Made in India' company with the complete coding and marking value chain solution among the top four giants in the coding and marking segment. Coding and marking machines are used to print necessary statutory information, branding and identification of products, regulatory information, anti-counterfeiting information, and engagement programs.

On the constantly evolving coding and marking space, Shiva Kabra, joint managing director, Control Print, adds, "Coding and marking is one of the fastest-growing and niche market segments with applications in almost all manufacturing industries. With stringent government rules, manufacturers need to mark and code various products and shipments across many sectors. The market is underpenetrated, giving headroom to support growth. Our key growth drivers, such as the launch of tech-driven new products to meet the increasing market demands, focused marketing plans to capture last mile users, higher consumables sales, new 'The Mask lab' division and increasing installed printer base will help us penetrate the market. Combining these drivers will help propel our growth to Rs 350 cr by 2024 and assist in capturing a higher market share in the coding and marking space. Currently, 35% of our revenues come from the packaging segment, however, we plan to increase this number to 45 % within the next three years."

Varied manufacturing industries require high-level traceability using batch codes, serial numbers, and bar codes to track their products across the supply chain and manage inventory. Coding and marking form an invaluable practical decision for many industries such as F&B, packaging, pharma, chemicals, manufacturing, automotive, construction etc. Control Print constantly evolves in the Trace and Track space to meet new government regulations.

The new stringent rules of the government regulations, where a heightened degree of regulatory compliance of printing detailed product information, traceability of the products, and mandatory QR codes are pushing the coding and marking market. Control Print products are used across industries by industry leaders due to their customized, industry-specific, integrated, cost-efficient solutions and services. Some of the key clients of Control Print are United Breweries, Hindustan Unilever, Pepsi, Ashirwad Pipes, Finolex, KEI Cables, and other such dominant players.

While catering to the constant demand of the coding and marking market, Control Print has also forayed into face masks with the opening up of 'The Mask Lab' (a unit under Control Print) that manufactures the highest quality USFDA certified surgical face masks. They have associated with various NGOs pan-India for their CSR projects through whom, so far, they have distributed more than 1.8 million masks along with meals and ration during the tough pandemic times.

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