What we do True Colors Limited is India’s integrated digital textile printing company offering import, distribution, manufacturing of printers, inks, sublimation paper, and custom fabric printing services for textile and apparel markets. |
Founded in 2,021 |
Market share A leading player in India’s digital textile printing industry with growing presence and diversified revenue streams from machines, inks, sublimation paper, and printing services. |
Problem solved Enables cost-effective, customizable, and sustainable textile printing solutions to meet fast fashion and diversified fabric printing needs efficiently. |
Top clients or who we serve Textile manufacturers, export houses, garment brands, fabric traders, MSMEs; key B2B segments across apparel and home furnishing sectors. |
Key management Mr. Sanjay Desai (Managing Director), Mr. Ashishkumar Mulani (Chairperson), Mr. Sagarkumar Mulani (CFO), Mr. Panchani Satishkumar (CEO) with strong technical and financial expertise. |
Our journey and innovations Founded 2021; dealership agreements with Konica Minolta and others; expanded printing capacity and sublimation paper manufacturing; IPO and BSE listing in 2025. |
Where we operate Operations primarily across India’s leading textile hubs including Surat, Ludhiana, Panipat, and expanding reach nationally with growing exports. |
Top products or what we offer Digital textile printers (KONICA MINOLTA, HOPETECH), sublimation inks, reactive inks, sublimation paper, and end-to-end textile printing services. |
Top brands True Colors digital printers authorized; proprietary sublimation papers, inks integral; strong after-sales support drives client retention. |
Raw materials needed Specialty inks, base papers for sublimation paper, high-grade textiles for printing, printer components sourced globally. |
Raw materials supplier Suppliers include global printer brands like KONICA MINOLTA, Wuxi Pengda, Hangzhou Maxunion and local paper and ink vendors. |
Recurring vs cyclical contribution Recurring revenues from inks, papers, and service contracts complement cyclical machine sales, balancing income streams. |
Our industry position Emerging leader with vertically integrated model in India’s growing digital textile printing space; moderate market share with robust growth. |
Financial highlights FY25 revenue ₹233.66 Cr, net profit ₹24.69 Cr; H1 FY26 revenue ₹151.11 Cr shows strong growth trajectory and margin expansion. |
Geographical revenue split Majority revenue from domestic Indian market (>99%), minor export footprint under 1%. |
Order book - |
Whats driving growth Market shift to digital textile printing, sustainability trends, fast fashion demand, vertical integration, and nationwide presence drive growth. |
Our future plans Expand across new textile hubs and international markets, invest in automation, deepen client engagement, and reduce debt. |
Our green promise ISO 14001 environmental standards, rooftop solar power, and sustainable manufacturing practices implemented. |
Our people and values Experienced, skilled leadership with focus on operational excellence, innovation, and customer-centricity fostering growth culture. |
Key challenges ahead Competition intensifies, dependency on select vendors, managing working capital, and technological advancements are key challenges. |
Interesting facts First mover in India with fully integrated digital textile printing ecosystem combining machines, inks, paper, and services. |
Risks and strategy Mitigates supply risks via multi-brand dealership; focuses on recurring revenues and operational efficiency to counter market volatility. |
