True Colors Limited reported a total revenue of INR 301.55 Cr for the fiscal year 2026, representing a year-on-year growth of 29.22%. The company achieved an EBITDA of INR 46.98 Cr with an EBITDA margin of 15.58%. The Profit After Tax (PAT) stood at INR 31.16 Cr, reflecting a PAT margin of 10.33%. The results were discussed in an earnings conference call held on May 22, 2026.

Financial Performance FY26

For the fiscal year 2026, True Colors Limited reported a total revenue of INR 301.55 Cr, representing a year-on-year growth of 29.22%. The company achieved an EBITDA of INR 46.98 Cr with an EBITDA margin of 15.58%. The Profit After Tax (PAT) margin stood at 10.33% for the period.

H2 FY26 Performance

For the half-year ended March 31, 2026 (H2 FY26), the company reported a total revenue of INR 150 Cr, an increase of 6.86% compared to H2 FY25. The EBITDA margin for H2 FY26 was 16%, a decrease of 772 basis points versus the same period in the previous year. The PAT margin for the half-year stood at 11%, down by 446 basis points year-on-year. Earnings Per Share (EPS) for H2 FY26 was INR 7.54, declining by 2.84%.

Operational Highlights

The company's recurring revenue share for FY26 was 50.25%, amounting to INR 151.52 Cr derived from ink, sublimation paper, and spares. This recurring revenue model is supported by an active installed base of 900+ machines. True Colors holds approximately 16% to 18% share of India's digital fabric printing volumes.

Vertical Performance

Revenue breakdown by business vertical for FY26 shows varied growth across segments:

Strategic Outlook

Management highlighted the transition to in-house ink manufacturing under the INKIA brand as a significant step towards improving profitability. The company is also focused on increasing paper capacity utilisation. The digital textile printing market is projected to grow at a CAGR of 13.77% globally from 2025 to 2035, which the company aims to leverage through its integrated ecosystem. The company expects to grow revenue by 20% to 22% over the medium term, with profitability growth outpacing top-line growth.

True Colors Limited has announced its audited standalone financial results for the year ended March 31, 2026, reporting a 29% increase in Profit After Tax (PAT) to ₹31 Cr. Revenue from operations rose 29% year-on-year to ₹302 Cr, driven by robust growth across its digital printing ecosystem verticals. The company's board approved the financial statements during a meeting held on May 20, 2026.

Financial Performance

For the fiscal year ended March 31, 2026, the company recorded a PAT of ₹3,115.63 lakh, compared to ₹2,422.53 lakh in the previous year. Revenue from operations increased to ₹30,154.74 lakh from ₹23,336.55 lakh in the prior year. EBITDA margins for the year stood at 15.58%, a contraction of 194 basis points YoY.

The half-year performance ending March 31, 2026, reflected a PAT of ₹1,644.00 lakh on revenue of ₹15,043.38 lakh. EBITDA margins for this period improved by 62 basis points YoY to 15.89%.

Operational Metrics

True Colors reported significant volume growth across key verticals for the full year. Paper volume reached 12 Cr metres, up 26% YoY, while fabric volume grew 26% to 205 Lakh metres. Ink volumes increased 19% to 1,140 Tonnes. The company installed 109 new machines during the year, bringing its active installation base to 900+ units.

Balance Sheet and Cash Flows

As of March 31, 2026, total assets stood at ₹28,665.82 lakh, up from ₹15,497.72 lakh in the previous year. Shareholders' funds grew to ₹18,713.80 lakh. The net cash and cash equivalents decreased by ₹598.75 lakh during the year, closing at ₹127.02 lakh, primarily due to working capital requirements related to MSME vendor payments and advance payment terms for Konica Minolta inks.

Fund Utilization

The company confirmed no deviation in the utilization of funds raised via its Initial Public Offer (IPO) on September 30, 2025. The total amount raised was ₹127,96,23,600, utilized for working capital requirements, general corporate expenses, and repayment of borrowings.