Share price of this Dolly Khanna stock jumped by nearly 8.02% to Rs. 999 in the morning trading session of March 5th, from its previous close of Rs. 924.80, after the company announced incorporating a new wholly-owned subsidiary in Italy.
With a market capitalisation of Rs. 1,549.8 crores, at 11:42 a.m. the shares of Control Print Limited were trading in the green at Rs. 969.0, up by 4.78 percent.
In the last one year, the company has delivered positive returns of about 84.9 percent and more than 22.0 percent in the last six months. However, so far in 2024, it has delivered negative returns of nearly 6.5 percent.
According to recent regulatory filings with the stock exchanges, the wholly-owned subsidiary of Control Print Limited, Control Print B.V., has incorporated a new wholly-owned subsidiary in Italy by the name of CP Italy S.r.l.
Control Print B.V. has acquired 100% equity shares of CP Italy S.r.l for a total consideration of about Rs. 8.99 lakh which is against cash consideration. CP Italy S.r.l is incorporated in Italy and is yet to start its business operations.
The goal of the company is to develop, produce and market innovative products with high technological value.
It will also engage in the wholesale trade and import-export of food products, the construction and marketing of packaging and packaging machines, the production of packaging systems and electromechanical & electronic devices for product dosing and weighing.
In terms of financials, the company’s revenue from operations grew by 3.48% from Rs. 86 crores in Q2 FY23-24 to Rs. 89 crore in Q3 FY23-24.
However, the net profit decreased by 7.14% from Rs. 14 crore in Q2 FY23-24 to Rs. 13 crore in Q3 FY23-24.
As of December 2023, the ace investor Dolly Khanna holds around 2.03 lakh of equity shares in Control Print Ltd., representing 1.27 percent of the equity stake in the company.
The FIIs decreased their holding by 0.09 percent from 4.68 percent in Q2 FY23-24 to 4.59 percent in Q3 FY23-24.
Established in 1991, Control Print Limited is a coding and marking equipment manufacturer and offers solutions to meet the coding and marking needs of various sectors.
Headquartered in Mumbai, the company also manufactures coding and marking related consumables such as fluid ink, ink ribbons, and other essential supplies.
Written by Shivani Singh
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