Dear Sir,

In May’14 we shared a detailed report on Control Print (BSE Code – 522295) which is one of India’s leading Industrial Coding and Marking solutions provider. The report was initiated for Alpha and Alpha plus members in May 2014 at around levels of 80-85 (CMP – 300).

Control Print is the only Indian manufacturer of Continuous Inkjet Printers (CIJ) and consumables under license of KBAMetronic AG, Germany at its facility in Nalagarh, Himachal Pradesh.

Prior to Control Print’s tie-up with KBA-Metronic AG, it was one of the largest distributors of Videojet CIJ printers in India and Nepal.

Besides CIJ Printers, the company also manufactures Large Character Printers, Electrograph Digital Printers, Thermal Transfer Over printers (TTO), Hot Ink Coders and their consumables in collaboration with respective technology leaders. The laser range of printers at Control Print is supported by MACSA Lasers. MACSA has over 90 years of experience and are market leaders for Laser Solutions internationally.

Control Print has now over 2 decades of experience in the Coding and Marking Industry and has partnered with leading global players technologically. The company provides the entire range of coding and marking solutions for the various manufacturing industries which include Automotive, Agro-Chemicals, Metals, FMCG, Pharmaceutical, Food & Beverage, Wire, Cable, & Pipe, Construction Materials, and Commercial Printing.

Transition from distribution to manufacturing – Since inception in 1991, Control Print’s been solely focused on coding and marking solutions, however till 2006-07 it was largely a distributor of companies like Video-Jet, Markem Corporation USA, Marconi Data Systems USA, etc.

In 2004 Control Print developed it’s own Contact Coder – CONPRINT CC and in 2007-08 began local manufacturing.

In 2008, Control Print further entered into an agreement with KBA Metronic, Germany for transfer of Continuous Ink Jet Printer Technology and the company started the commercial production of alphaJET under license in Dec’08. Since then Control Print has entered into technological tie-ups with other companies as well and further extended the agreement with KBA Metronic by 10 years in 2011.

Now, in order to further expand the business operations, the company is setting up another manufacturing unit at Guwahati, Assam and the same is expected to commence production in Dec’14.

As a result of increase in the contribution of manufacturing sales (1.89 crores in FY 08 to 60.92 crores in FY 13), Control Print’s operating performance has improved drastically over the years and we expect the growth momentum to continue for the next few years.

Detailed Report can be downloaded here:

Disclosure: I have personal investment in Control Print.


Best Regards,

Ekansh Mittal

Ph.: +91-72-75050062, Mob: +91-9818866676


Disclaimer: (here in referred to as Katalyst Wealth) is the domain owned by Ekansh Mittal. Mr. Ekansh Mittal is the sole proprietor of Mittal Consulting and offers independent equity research services to retail clients on subscription basis.

This report is for the personal information of the authorized recipient and does not construe to be any investment, legal or taxation advice to you. Ekansh Mittal/Mittal Consulting/Katalyst Wealth is not soliciting any action based upon it. This report is not for public distribution and has been furnished to you solely for your information and should not be reproduced or redistributed to any other person in any form. This document is provided for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. The views expressed are those of analyst and the firm may or may not subscribe to all the views expressed therein. The report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon such. Ekansh Mittal or any of its affiliates or employees shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Neither Ekansh Mittal, nor its employees, agents nor representatives shall be liable for any damages whether direct or indirect, incidental, special or consequential including lost revenue or lost profits that may arise from or in connection with the use of the information. Ekansh Mittal/Mittal Consulting or any of its affiliates or employees do not provide, at any time, any express or implied warranty of any kind, regarding any matter pertaining to this report, including without limitation the implied warranties of merchantability, fitness for a particular purpose, and non-infringement.

The recipients of this report should rely on their own investigations. Ekansh Mittal/Mittal Consulting and/or its affiliates and/or employees may have interests/ positions, financial or otherwise in the securities mentioned in this report. Mittal Consulting has incorporated adequate disclosures in this document. This should, however, not be treated as endorsement of the views expressed in the report.

Ekansh Mittal has made an application with SEBI for registering as a Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014. Ekansh Mittal or its associates including its relatives/analyst do not hold beneficial ownership of more than 1% in the company covered by Analyst as of the last day of the month preceding the publication of the research report. Ekansh Mittal or its associates/analyst has not received any compensation from the company/third party covered by Analyst ever. Ekansh Mittal/Mittal Consulting/analyst has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market-making activity of the company covered by Analyst.

We submit that no material disciplinary action has been taken on Ekansh Mittal by any regulatory authority impacting Equity Research Analysis

The views expressed are based solely on information available publicly and believed to be true. Investors are advised to independently evaluate the market conditions/risks involved before making any investment decision

A graph of daily closing prices of securities is available at, and‐quotes. (Choose a company from the list on the browser and select the “three years” period in the price chart