India's leading coding and marking technology company Control Print, eyeing revenues of 350 cr by 2024
Mumbai (Maharashtra) [India], April 27 (ANI/PRNewswire): Founded in 1991, Control Print Limited, (listed on the BSE and NSE) (NSE: CONTROLPR) (BSE: CONTROLPR), India's premier integrated Coding & Marking solutions provider is eyeing revenues of 350 cr by 2024.
The company is part of the 1,500 cr coding and marking industry and is looking at a CAGR of 18 percent in the next 18 - 24 months as a part of its next 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 crores, it already owns more than 18 per cent of the coding and marking industry in India. With the new government regulations, the coding and marking market is poised to grow at a CAGR of 8 - 10 % which is likely to touch Rs 3,500 crores by 2030 in India. With its wide variety of products, broad market penetration, service network in more than 1,700 cities pan-India, while serving more than 2,500 pin codes, Control Print is likely to launch new generation printers which are in the pipeline.
Among the top four giants in the coding and marking segment, Control Print is the only fully integrated 'Made in India' company with the complete coding and marking value chain solution. Coding and marking machines are used in printing necessary statutory information, is used for 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 an array of products and shipments across many sectors. The market is underpenetrated, giving headroom to support growth. Our key growth drivers such as 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 Ltd, 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 Limited) 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.
For more information visit - www.controlprint.com
Control Print (listed on NSE and BSE) is the only fully integrated 'Made in India' manufacturer, offering cutting edge, indigenous coding and marking products and solutions Control Print offers full gamut of in-house coding and marking solutions that includes equipment, consumables and spares and services. Control Print provides customized, industry specific, integrated solutions to enhance customer value for clients across more than 20 sectors.
Control Print owns two state-of art factories in Nalagarh, Himachal Pradesh and Guwahati, Assam. They have 11 branch offices Pan India, extensive presence in 3 countries and over 400 employees including service and field staff. They have the widest service network in India covering 1,700 cities Pan India. They also manufacture and supply USFDA approved surgical masks under the name 'The Mask Lab'. 'The Mask Lab' is only the 4th company in India to be awarded FDA 501K certification for its 3 ply mask.
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Source: BUSINESS