Dolly Khanna Portfolio Stock Sets Record Date For Share Buyback: Do You Own?

During Monday's closing session, Control Print, a small-cap IT company, had a market worth of Rs 1,039.35 Cr. With over three decades of operating expertise, Control Print is a leader in the Indian coding and marking industry. Control Print is an established manufacturer of coding and marking equipment with a significant presence internationally as well as domestically. The company was founded on January 14, 1991.

Control Print Buyback

On Monday, the Board of Directors of the company approved the proposal of buy-back of fully paid-up 3,37,500 equity shares of face value of INR 10 each at a price of Rs 800/- per equity share for an aggregate amount not exceeding Rs 27 Cr.

The buyback represents approximately 9.57% and 9.68% of the fully paid-up equity share capital and free reserves as per the audited standalone and consolidated financial statements, respectively of the company for the financial year ended March 31, 2023, said Control Print.

The company has appointed "Keynote Financial Services Limited" as the manager to the buy-back and appointed "Bigshare Services Private Limited" Registrar, the existing registrar to the company as the registrar to the buyback.

"This has reference to our earlier intimation dated July 31, 2023 informing the Stock Exchanges that the Board of Directors have approved the proposal of the Company to Buyback up to 3,37,500 (Three Lakh Thirty Seven Thousand Five Hundred only) fully paid-up equity shares of a face value of Rs 10/- (Rupees Ten) each at a price of Rs 800/- (Rupees Eight Hundred only) per Equity Share. Pursuant to regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regulation 9(i) of SEBI (Buy-Back of Securities) Regulations, 2018, and other applicable regulations if any, we would like to inform you that the Board of Directors at its meeting held on July 31, 2023 has fixed Friday, August 18, 2023 as the Record Date for the purpose of determining the entitlement and the names of equity shareholders who are eligible to participate in the buyback offer of the Company," said Control Print in a stock exchange filing.

Control Print Financials

The company reported net sales of Rs 791.7 mn in Q1FY24 up by 21.6% YoY from Rs 651.4 mn in Q1FY23. Its EBITDA stood at Rs 203.0 mn in the quarter under review, up by 14.2% YoY from Rs 177.8 mn recorded in the year-ago quarter. Control Print said its net profit reached Rs 141.4 mn in Q1FY24 up by 20.6% YoY from Rs 117.3 mn recorded in Q1FY23.

In the entire FY23 its net sales were Rs 2914.1 mn up by 14.6% YoY from Rs 2,542.6 mn recorded in FY22. Its EBITDA stood at Rs 744.9 mn in FY23 up by 23.3% YoY from Rs 604.3 mn in FY22. The net profit of the company was Rs 517.3 mn in 12MFY23 up by 35.9% YoY from Rs 380.8 mn recorded in 12MFY22.

Control Print Share Price

On Monday, the shares of Control Print closed on the BSE at Rs 658 apiece up by 3.39% from the previous close of Rs 636.40. The stock made a 52-week-high of Rs 690.00 on (31/07/2023) and a 52-week-low of Rs 376.00 on (28/12/2022).

Control Print Shareholding

During Q1FY24, the company recorded promoter shareholding of 51.78%, FIIs stake of 5.25%, DIIs stake of 7.23% and public stake of 35.73%. As per the shareholding pattern of Control Print for Q1FY24, ace investor Dolly Khanna held 1,91,207 shares or 1.17% fully paid-up equity stake in the company.