ICICI Direct's research report on Control Print
CPL is a leading coding & marking player domestically with manufacturing capability in printing machines, spare parts & associated consumables (ink). These are required to print essential real time product details like manufacturing date, expiry date, batch number, maximum retail price, etc, on any manufacturing product.
Outlook
We value CPL at Rs 375, i.e. 15x P/E (0.7x PEG) on FY19E EPS of Rs 25.0/share with a BUY rating on the stock. The key risk to our call is elongated working capital cycle and temporary disruption in the value chain on account of implementation of GST.
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