ICICI Direct's research report on Control Print
Control Print (CPL) reported revenue de growth of 31% YoY to Rs 35 crore. The subdued performance was largely on account of lockdown resulting into poor sales from printers. Better gross margins due to higher sales from consumables led OPM to sustained, which was at 24% against 26.9% in Q1FY20. EBITDA was down 38.5% YoY to Rs 8.5 crore. Adjusting the fair value of investments, PAT fell 43% YoY to Rs 5.4 crore.
Outlook
We value the company at 13x FY22E PER and arrive a target price of Rs 270. We have a BUY rating on the stock.
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