| Coding and Marking Solutions | Manufacture and sale of printers, consumables, spare parts, and after-sales services for industrial coding and marking. | Large installed base creating customer stickiness; in-house manufacturing of consumables; integrated ERP system. | B2B focus serving FMCG, pharmaceuticals, food, chemicals, automotive, and industrial manufacturers. | Consumables and after-sales services have higher margins compared to hardware sales. | 365 | 85 | Direct sales of equipment; recurring revenue from consumables and servicing contracts. | Product sales with recurring consumable purchases; services on contract basis. | Regulatory demand, installed printer base driving consumables, upgrading product lines, and expanding client base. | Continuous Inkjet Printers, Thermal Inkjet Printers, Hot Roll Coders, Laser Printers, QRiousCodes |
| Track and Trace Solutions | Cloud-based digital solutions for product traceability and anti-counterfeiting using QR and blockchain technologies. | Proprietary integrated platform combining hardware and software; early mover in Indian track and trace market. | B2B clients in pharmaceuticals, healthcare, FMCG requiring compliance and supply chain visibility. | Software and cloud services have highest margin contribution. | 40 | 10 | Software subscription, hardware sales, and associated service charges. | Subscription-based model complemented by equipment sales. | Growing regulation and anti-counterfeiting demand; digital transformation of supply chains. | QRiousCodes |
| Packaging Solutions | Single-dose sachet packaging machines and supplies for pharmaceutical and FMCG sectors. | New segment with innovative single-dose packaging tech; synergy with existing clients and markets. | B2B clients in pharma and FMCG sectors expanding packaging needs. | Customized packaging equipment and co-packing services. | 25 | 5 | Sale of packaging machines, materials, and co-packaging services. | Product sales and service contracts. | Increasing demand for flexible packaging; leveraging acquired technologies and assets. | V Shapes |
