True Colors

True Colors Limited achieved total revenue of INR 151 crores in H1 FY26, marking a 63% increase from INR 92.8 crores in the previous year, with machine business contributing INR 38.44 crores compared to INR 7 crores last year. The company installed 60 machines during the period and expects to reach 90-100 machine installations by year-end, while maintaining EBITDA margin of 16% and PAT margin of 10%.

True Colors Limited, a digital textile printing solutions provider, reported revenue of ₹15,111.36 lakhs in H1FY26, representing 63.20% growth compared to ₹9,259.21 lakhs in H1FY25. The company's EBITDA increased to ₹2,321.57 lakhs with margin expansion to 15.31% from 7.65% in the previous period. Net profit surged 475.53% to ₹1,471.63 lakhs versus ₹255.70 lakhs in H1FY25, with net profit margin improving to 9.72% from 2.75%. The company operates across three business segments: machinery and ink supply (54.81% of revenue), sublimation paper manufacturing (19.16%), and digital textile printing services (26.03%). True Colors serves as authorized distributor for digital textile printer brands including KONICA MINOLTA, HOPETECH, ITTEN, PENGDA, and SKYJET. The company has manufacturing facilities with production capacity of 75,000 meters of digitally printed fabric daily and 300 lakh meters per month of sublimation paper. Management attributed the strong performance to growth across all verticals, healthy demand from major textile hubs, and higher contribution from high-end digital printer installations.

True Colors Limited has entered into a distribution agreement with Spain-based Innovaciones Tecnicas Aplicadas a Ceramicas Avanzadas, S.A.U. (ITACA) to serve as their non-exclusive distributor for India. The partnership covers distribution, marketing, and after-sales support of ITACA's digital textile printing consumables including pigment and dye-based digital inks, pretreatment and post-treatment chemistries, and related technical services. True Colors will import and locally stock ITACA's products in Surat to ensure faster supply to customers across India, while providing first-line technical assistance, color management, and service coordination. ITACA will provide technical and installation support directly from Spain. This collaboration expands True Colors' consumables portfolio, complementing their existing range of digital printers, sublimation paper, and printing services. The partnership aims to enhance the company's machine-paper-ink ecosystem and enable steady recurring revenue from consumables. Managing Director Sanjay Desai stated the partnership reflects their vision of aligning with global technology leaders to bring world-class innovation to India's textile printing landscape and deepens their strategic focus on the consumables segment for driving recurring and profitable growth.