True Colors Limited (BSE: TRUECOLORS), a fully integrated provider of digital textile printing solutions, has announced a significant partnership that could potentially reshape its market position in India's growing digital textile printing industry.

Key Highlights

• True Colors Limited has entered into a non-exclusive distribution agreement with Spain-based Innovaciones Tecnicas Aplicadas a Ceramicas Avanzadas, S.A.U. (ITACA) for the Indian market.
• The partnership covers distribution, marketing, and after-sales support of ITACA's digital textile printing consumables.
• True Colors will import and locally stock ITACA's products in Surat, ensuring faster supply to customers across India.

Partnership Details

The collaboration between True Colors Limited and ITACA encompasses a range of products and services:

Strategic Implications

This partnership marks a significant step for True Colors Limited in expanding its consumables portfolio. By integrating ITACA's advanced ink technologies, the company aims to enhance its machine-paper-ink ecosystem, potentially leading to:

1. Improved product compatibility
2. Steady recurring revenue from consumables
3. Strengthened market position in India's digital textile printing landscape

Market Outlook

The digital textile printing market in India is poised for substantial growth. According to industry estimates mentioned in True Colors' investor materials, the sector is projected to grow at approximately 13.00% CAGR from 2023 to 2033. This growth is driven by:

• Increasing adoption of sustainability practices
• Economic advantages of short-run production
• Rapid design cycles in the textile industry

Management Commentary

Mr. Sanjay Desai, Managing Director of True Colors Limited, commented on the partnership:

"This collaboration with ITACA aligns with our vision of partnering with global technology leaders to bring world-class innovation to India's textile printing landscape. It also deepens our strategic focus on the consumables segment, which is key to driving recurring and profitable growth."

About ITACA

ITACA, based in Spain, is a leader in digital ink and technology solutions. The company is known for its expertise in color chemistry, inks, and industrial coatings, with a reputation for producing consistent, stable, and environmentally compliant digital ink products.

Conclusion

The partnership between True Colors Limited and ITACA represents a strategic move in the competitive digital textile printing market. By expanding its product portfolio and enhancing its service capabilities, True Colors is positioning itself to capitalize on the growing demand for digital printing solutions in India's textile industry. Investors and industry observers will be keen to see how this collaboration translates into market share gains and financial performance for True Colors Limited in the coming quarters.

True Colors Limited (BSE: TRUECOLORS), a prominent player in the textile industry, has announced its unaudited financial results for the half-year ended September 30, 2025, showcasing significant growth and a successful Initial Public Offering (IPO).

Financial Highlights

The company reported a substantial increase in its revenue and profitability for H1 FY2026:

True Colors Limited demonstrated robust growth with revenue from operations reaching ₹15,111.36 lakhs, a 68.4% increase from the previous year's ₹9,259.21 lakhs. The company's profit after tax surged to ₹1,355.70 lakhs, marking a significant 281.1% rise from ₹355.70 lakhs in the corresponding period last year.

Successful IPO and Listing

True Colors Limited completed its Initial Public Offering and listed on the SME platform of BSE Limited on September 30, 2025. The company issued 56,99,600 equity shares at ₹10 each with a premium of ₹181 per share, raising a total of ₹10,886.24 lakhs.

Utilization of IPO Proceeds

The company has fully utilized the IPO proceeds as follows:

Improved Financial Position

As of September 30, 2025, True Colors Limited reported a significant improvement in its financial position:

• Cash and cash equivalents increased to ₹12,458.62 lakhs from ₹725.77 lakhs as of March 31, 2025.
• Shareholders' funds strengthened to ₹19,716.59 lakhs, up from ₹5,549.06 lakhs at the end of the previous financial year.

Management Commentary

Sagarkumar Bipinbhai Mulani, Director & CFO of True Colors Limited, commented on the results, stating, "We are pleased with our performance in the first half of FY2026. The substantial growth in revenue and profitability reflects the strong demand for our products and the successful execution of our business strategies. The successful completion of our IPO has further strengthened our financial position, enabling us to pursue our growth objectives with greater vigor."

The company's board of directors approved these unaudited financial results at their meeting held on November 10, 2025. True Colors Limited continues to focus on its core business activities within India, with no separate reportable business or geographical segments as per Accounting Standard 17 on "Segment Reporting."

As True Colors Limited moves forward, it aims to capitalize on its strengthened financial position and market presence to drive further growth and create value for its shareholders.