Closing one chapter, opening another: The year in review (Part I) — The Noel D’Cunha Sunday Column

Aaron Rego
Director, Brilliant Printers

Aaron Rego highlights Brilliant Printers’ winning edge

Looking back on 2024, Aaron Rego describes it as a year of significant activity and achievement. “We set ambitious goals, including building a new team, adopting advanced book printing and binding technologies, and implementing redundancy on the shop floor,” he notes. These initiatives, combined with green certifications and a focus on sustainability, led to a remarkable year-on-year revenue growth of 34%. The company’s ability to achieve these milestones reflects its commitment to innovation and operational excellence.

Rego highlights the evolving dynamics in the global printing industry as a critical driver of growth. “Customers worldwide are increasingly seeking options outside their existing print partners. This shift has created significant opportunities for Indian printers,” he explains. Brilliant Printers capitalised on this trend by enhancing its offerings and catering to a broader customer base.

Sustainability remained a top priority in 2024, with Brilliant Printers achieving a 50% increase in its Eco Vadis score and updating its credit rating. These advancements were driven by targeted investments in green initiatives, including reducing single-use plastics and adopting energy-efficient VFD-based utility equipment. By switching from fossil fuels to electric material handling equipment, the company successfully reduced its Scope 1 and Scope 2 carbon emissions by 47%. 

Rego reveals ambitious goals for 2025, aiming to further reduce these emissions by 75% through retrofitting carbon emission devices on diesel generators, increasing solar energy usage, and implementing water conservation measures. Additionally, Brilliant Printers is working toward ISO 14001 and ISO 45001 certifications to enhance compliance and sustainability practices.

Technology and automation played a pivotal role in Brilliant Printers’ growth in 2024. Rego shares that the company invested in ERP systems, machine learning, and advanced software to streamline operations and improve efficiency. “Automation is at the core of our business, ensuring sustainability and efficiency. Our visit to Drupa in May 2024 provided valuable insights into emerging trends in digital printing,” he states. These advancements optimised processes and positioned the company to meet the increasing demand for high-quality, eco-friendly printing solutions.

Addressing the growing emphasis on eco-friendly packaging, Rego outlines Brilliant Printers’ approach to balancing sustainability with profitability. The company collaborated with suppliers to source materials with lower environmental impacts while maintaining functionality and aesthetics. “Currently, the majority of our products use renewable and recyclable raw materials,” he emphasises, reflecting the company’s commitment to environmentally responsible practices.

Looking toward 2025, Brilliant Printers plans to prioritise investments in automation, IT systems, and improved collaboration with key business partners. Rego stresses the importance of balancing innovation with cost efficiency, leveraging the redeployment of manpower and global supply chain management to maintain profitability. The company is also focused on building resilience to address potential challenges, including geopolitical uncertainties and the need for consistent quality and on-time delivery. “We continue to invest in capital expenditure, human capital, training, and process improvements to meet these challenges effectively,” he explains.

Resource allocation will play a key role in ensuring growth across emerging and mature markets. Rego highlights the importance of maintaining high-quality standards and meeting customer expectations to retain a competitive edge. “Innovation is essential, and our investments in this area will drive our growth in new markets while sustaining our position in established ones,” he adds.

To mitigate risks associated with supply chain disruptions, Brilliant Printers has developed tailored inventory-holding programs and advanced scheduling strategies. Rego emphasises the company’s proactive approach to operational resilience, ensuring that customers remain unaffected by global uncertainties.

Rego is optimistic about the prospects for 2025, predicting a year of growth for the print industry. He believes that Indian printers are well-positioned to capitalise on opportunities from overseas customers. “The key to success lies in implementing best practices across the value chain, maintaining product quality and delivery schedules, ensuring cost competitiveness, and prioritising sustainable practices,” he concludes. With a clear vision and robust strategy, Brilliant Printers is poised to thrive in an increasingly dynamic and competitive market.

Akshay Kanoria
Director, TCPL Packaging

As 2024 draws to a close, Akshay Kanoria describes the year as both demanding and rewarding. Despite a challenging macroeconomic environment, TCPL Packaging has significantly grown in volume and value terms. 

A key milestone was the commissioning of a new printing capacity in Goa during the latter half of the year, complemented by the addition of balancing equipment across other units. Furthermore, the flexible packaging expansion undertaken in 2023 begins yielding tangible results, reinforcing TCPL’s strategic direction. “We are excited to be commissioning our greenfield unit near Chennai in February 2025, marking our entry into South India,” says Kanoria. The company also records a major achievement in Q2 FY25, surpassing Rs 400-crore in turnover within a single quarter for the first time.

Kanoria highlights TCPL’s ongoing investments in innovation and sustainability. “We continue to focus on R&D aimed at sustainable packaging solutions, both in the folding carton and flexible packaging segments. It is encouraging to see brands increasingly adopt these solutions,” he remarks. TCPL also takes strides in greening its operations by installing rooftop solar plants across all its factories, underscoring the company’s commitment to reducing its environmental footprint.

Reflecting on industry trends, Kanoria points to the continuing slowdown in consumption growth in India as a critical challenge. He emphasises the need for innovation and operational excellence to navigate this slower-growth environment. “The sustainability trend is also gathering momentum, and it reshapes the way we approach product development and customer engagement,” he adds.

Sustainability remains a cornerstone of TCPL’s strategy in 2024. The company positions itself as an innovator in plastic replacement within the paperboard packaging segment, leveraging advanced print effects and coating technologies. “We develop solutions that address the need for recyclable packaging in the flexible segment and continue to work closely with customers and suppliers to drive progress,” Kanoria explains.

On the technological front, TCPL enhances its digitalisation and automation capabilities. Efforts in 2024 centre on real-time data capture and improved reporting practices, although Kanoria acknowledges there is still significant room for improvement.

“These advancements are key to streamlining our operations and staying competitive in an increasingly digital world,” he says.

Looking ahead to 2025, Kanoria outlines TCPL’s investment priorities, including the commissioning of the Chennai folding carton unit and other capital expenditure plans yet to be announced. Maintaining and improving margins remains an ongoing endeavour, supported by diversification of the customer base, operational efficiencies, and a strong focus on innovation. “Sustaining margins is easier said than done, but it is a challenge we are committed to overcoming,” he asserts.

Kanoria also acknowledges broader industry challenges, including geopolitical uncertainties and the potential implications of global events, such as the Trump administration's return in 2025. Despite these headwinds, he expresses optimism about India’s position. “India is in a sweet spot, and we must not lose sight of that fact,” he affirms.

Resource allocation will remain a balancing act for TCPL, as the company seeks growth in emerging markets while maintaining its leadership in mature segments. Kanoria explains, “We are cautious with our investments, ensuring we don’t overextend ourselves while constantly scouting for new opportunities.” This pragmatic approach extends to risk management, where TCPL maintains a healthy debt-to-equity ratio and a diversified mix of customers and suppliers to withstand potential disruptions.

As for the outlook for 2025, Kanoria’s optimism shines through. “Every year is better than the last, and we remain confident in our ability to navigate challenges while capitalising on opportunities. The disruptions and chaos are part of the journey, but they also underline the resilience and potential of our industry,” he concludes.

Anuj Bhargava
Managing director, Kumar Labels

Anuj Bhargava advocates adapting for growth

Anuj Bhargava’s insights illuminate how the company is adapting to a hyper-competitive market and evolving customer expectations. In 2024, Kumar Labels focused on geographical consolidation, concentrating operations to optimise efficiency and capacity. “In these hyper-competitive times for the label industry, we planned geographical consolidation while adding capacity at a single location. We are expecting a conservative 12-15% increase in revenues along with an improvement in our bottom line,” Bhargava states. This strategy aligns with the company’s commitment to navigating industry challenges while maintaining growth.

The evolving preferences of consumers in Kumar Labels’ market have been a defining trend in 2024. “Customers want ease of operation at the lowest rates, and we are striving to meet these opposing demands,” Bhargava explains. This dual expectation has pushed the company to innovate and refine its offerings to stay competitive.

Sustainability continues to reshape the printing and packaging landscape, and Kumar Labels has taken notable steps in this direction. In 2024, the company launched two major solutions aimed at making its pressure-sensitive adhesive (PSA) labels 90% circular. “We expect to roll these out in larger quantities,” Bhargava shares, reflecting the company’s proactive stance on eco-friendly solutions.

The adoption of new technology has been another cornerstone of Kumar Labels’ strategy. The company implemented a new ERP system in 2024, providing enhanced control over processes for customers, service providers, and suppliers. “This technological upgrade streamlines our operations and strengthens our ability to deliver consistent quality and service,” Bhargava remarks.

Kumar Labels has also maintained compliance with evolving regulatory requirements for eco-friendly packaging. Bhargava underscores the company’s commitment to adapting as these needs evolve, ensuring both compliance and product differentiation.
Looking ahead to 2025, Kumar Labels’ investment priorities reflect a balanced approach. “We invest in alternate years, and 2025 is expected to be low on investments. Our focus will be on improving the bottom line and driving revenues from recently made investments,” Bhargava explains. The company aims to enhance profitability while maintaining growth by maximising returns from past investments.

The challenges for 2025 include maintaining margins while scaling up in a fragmented market with changing workforce preferences. Bhargava acknowledges that offering sustainable products will remain a long-term challenge but is confident in the measures Kumar Labels has implemented to address these issues effectively.

While Kumar Labels will concentrate on its current market in 2025, the company is also mitigating global supply chain disruption risks. “Our patented offering will reduce our dependence on imports,” Bhargava notes, highlighting a strategy that strengthens operational resilience.

The outlook for 2025 is optimistic. Bhargava envisions concentrated efforts from a unified operation, focusing on sustainable offerings, better margin realisation, and higher revenues. “We expect that the efforts put in during 2024 will lead to a brighter 2025 and beyond,” he concludes. With a clear strategy and commitment to innovation and sustainability, Kumar Labels is well-positioned for continued success.

B Manoharan
Executive director, Hitech Print Systems

Reflecting on the key milestones of 2024, B Manoharan highlights significant technological investments that have bolstered Hitech’s operations. “We added a nine-colour Rotatek Machine for secure base stationery, catering to government departments, and a high-speed inkjet printer for personalised OMR sheets, which are increasingly in demand as the industry shifts towards digital solutions,” he notes. 

These advancements have strengthened Hitech’s ability to support its core focus on the education sector, meeting the needs of universities and institutions migrating to digital on-screen marking (OSM) and data-capturing solutions.

The education sector remains a primary driver for Hitech, with substantial demand for OMR forms and unique page-barcoded booklets. Manoharan observes that many universities and institutions are yet to embrace digital transformation, providing a significant growth opportunity fully. “The potential in this sector is vast, and we are positioned to cater to its evolving requirements,” he states.

Sustainability has been another focal point for Hitech Print Systems in 2024. The company adopted process-free offset plates across its plants, eliminating the use of alkaline developers and reducing power consumption. A 70KVA solar power system was installed at the Andhra Pradesh facility, reflecting Hitech’s commitment to renewable energy. Additionally, the company implemented a recycling initiative, converting waste food and garden trimmings into vermicompost manure for its plants. “Sustainability is at the core of our operations, and these measures are steps towards a greener future,” Manoharan remarks.

In 2024, Hitech also introduced blockchain technology QR codes for verification and authentication in university degrees. Manoharan describes the initiative as a success, with two universities already adopting the technology and more expected to follow in 2025. “This innovation addresses the critical need for secure and tamper-proof credentials, and the response so far has been overwhelmingly positive,” he adds.

Adapting to the increasing demand for eco-friendly solutions, Hitech has shifted its focus to digital printing for short-run, personalised orders. Manoharan explains that universities’ move towards autonomy has led to a shift from bulk orders to smaller, more frequent ones. “By transitioning offset printing jobs to digital, we can meet these demands with shorter turnaround times, reduced wastage, and improved profitability,” he notes.

Looking ahead to 2025, Hitech plans to invest further in digital printing technology to enhance its personalisation capabilities. Manoharan emphasises the importance of balancing innovation with cost efficiency, stating, “We aim to convert offset jobs to digital with personalised elements, ensuring cost-effective and profitable solutions.” The company is also prioritising R&D to develop tailored solutions for its customers, ensuring continued relevance in an increasingly dynamic market.

Manoharan anticipates several challenges for the printing and packaging sector in 2025, including the growing demand for personalisation, on-demand delivery, and smaller print runs. He believes digital printing and conversion will play a critical role in addressing these trends. “By focusing on these areas, we can deliver solutions that meet the evolving needs of our clients while maintaining operational efficiency,” he asserts.

Hitech has established operations in two states to mitigate risks associated with supply chain disruptions and economic uncertainties and is prepared to expand to other locations based on customer needs. “Proximity to major customers ensures faster delivery and greater resilience against logistical challenges,” Manoharan explains.

As for the outlook for 2025, Manoharan is optimistic. He sees a growing willingness among customers to adopt new technologies for process automation, creating opportunities for print solution providers to offer enhanced services. “Globally, the technology landscape is advancing rapidly, enabling us to deliver more value to our customers. 2025 promises to be a year of growth and innovation for the industry and Hitech Print Systems,” he concludes.

Dharmesh Mehta
CEO, Reliable Prints

With a focus on innovation, sustainability, and adapting to evolving market trends, Dharmesh Mehta provides insights into how Reliable Prints is navigating the dynamic landscape of the printing industry.

In 2024, Reliable Prints prioritised upgrading its capabilities and developing new verticals to diversify its offerings. “The print industry demands constant innovation and evolution, and we have made it our mission to address these aspects,” Mehta states. The company’s focus on these initiatives aligns with the industry’s transition towards shorter print runs, a shift that has been accelerated by the pandemic. As a player in the digital print space, Reliable Prints has found this transition fruitful, further boosted by the success of its online web store in acquiring new clientele.

Sustainability is increasingly influencing client expectations and industry practices, and Reliable Prints has made significant strides in this area. Mehta highlights the company’s use of 100% recyclable paper media and its commitment to upgrading equipment to reduce emissions and utilise green inks. “Clients are becoming more aware of sustainability, and we ensure our processes and media meet eco-friendly standards,” he explains.

Technological advancements have also been pivotal in Reliable Prints’ growth. With over three decades in the digital print industry, the company continues to refine its operations and SOPs. In 2024, the focus shifted towards automation in post-press applications, a move aimed at enhancing workforce efficiency and product quality. “Automation will allow us to utilise our resources better and elevate the quality of our offerings,” Mehta adds.

Although Reliable Prints primarily operates in the general commercial printing space, Mehta acknowledges the challenges posed by regulatory frameworks prioritising eco-friendly practices. He points out the difficulties in accessing affordable substitutes for traditional materials, noting that achieving balance will require collaborative efforts from media manufacturers and consumers alike.

Looking ahead to 2025, Reliable Prints plans to continue expanding its verticals while enhancing post-press capabilities. Mehta reveals that the company is exploring options for new equipment and implementing an MIS system to fine-tune processes and improve data-driven planning. “Investing in better technology and processes will ensure we remain competitive and prepared for future challenges,” he states.

The printing sector faces ongoing challenges, including shifting consumer behaviours and competition from disruptive players. Mehta underscores the importance of innovation, quality assurance, and a tailored approach for each client to sustain growth. “Our strategy revolves around the three major T’s: Technology, Training, and Time management,” he explains, emphasising the need for a balanced allocation of resources.

To address supply chain disruptions and economic uncertainties, Reliable Prints is strengthening its backup processes and reserving resources for reinvestment or emergency acquisitions. Mehta highlights the importance of inventory management and real-time information as critical tools for effective planning. “Having robust systems in place will enable us to navigate potential disruptions with resilience,” he says.

Looking forward to 2025, Mehta expresses optimism for the year ahead. “The past few years have been about consolidation and sustenance. We are hopeful that our efforts during this period will bear fruit in the coming year and benefit the entire print fraternity,” he concludes. With a clear focus on innovation, sustainability, and operational excellence, Reliable Prints is poised to make significant strides in 2025.

Himanshu, Rahul, and Karan Kapoor
Directors, JK Labels

Himanshu, Rahul, and Karan Kapur, directors of JK Labels, reflect on their journey through 2024 and outline their strategic vision for 2025. 

Reflecting on 2024, the Kapurs emphasise their focus on quality over volume growth. “We are ever-evolving in quality and have now received the SEDEX 7.0 four-pillar certification. We’ve also enhanced our capability to comply with export norms,” they state. By prioritising quality growth, JK Labels continues to set itself apart in an increasingly competitive industry.

The Kapurs note that the printing and packaging industry is witnessing significant shifts. The new generation of businesses is willing to experiment with innovative materials to enhance packaging appeal. However, the influx of Chinese and Indian machines has drastically reduced capex costs, leading to a surge of new entrants in the market. “This has caused bottom lines to plummet to unsustainable levels,” they observe. Established firms are now navigating challenges like falling prices, market disruptions, and supply issues caused by backward auctioning practices.

Sustainability remains a key focus for JK Labels. In 2024, the company took several steps to reduce its environmental impact. “We installed an LED curing system to minimise our environmental footprint, replaced all HVAC systems with newer, energy-efficient ones, and continued to prioritise recycling and reusing,” the Kapurs share. They view sustainability as an evolving responsibility and are committed to exploring new methods for continuous improvement in the years ahead.

Digitalisation and automation have been central to JK Labels’ strategy. The Kapurs highlight the interdependence of automation and skilled human labour in producing superior-quality products. “We give equal importance to both aspects and continue to invest in better machinery while building a strong team,” they explain. These efforts ensure the company’s operations remain efficient and innovative, meeting the demands of a competitive market.

As regulatory frameworks and consumer behaviour increasingly prioritise eco-friendly packaging, JK Labels collaborates closely with material vendors to stay ahead of industry requirements. “This ongoing communication helps us align with client needs in sectors like pharmaceuticals and food and beverage, enhancing our overall efficiency,” the Kapurs note.

Looking to 2025, JK Labels plans to increase its investments in ancillary machines to improve operational efficiency. The company is also exploring opportunities to acquire core machines essential for future growth. “Our machine suppliers have been highly supportive in providing us with the latest information, which helps us make informed decisions,” they add.

The Kapurs identify changing consumer trends as a major challenge for 2025. To address this, they stress the importance of engaging with customers to anticipate future demands. In addition, JK Labels leverages its distribution networks in emerging markets to gain valuable insights into regional requirements, ensuring its offerings remain relevant and competitive.

JK Labels has adopted a proactive approach to mitigate risks associated with supply chain disruptions. “We keep our customers informed about potential delays and help them maintain adequate inventory levels,” the Kapurs explain. This transparency strengthens client relationships and ensures operational resilience.

The outlook for 2025 is optimistic. “As one of the top emerging markets, we believe new opportunities for growth and scaling will continue to arise,” they conclude. With a steadfast commitment to quality, sustainability, and innovation, JK Labels is well-positioned to thrive in the coming years.