DGM is leaning into a shift that is as much about market maturity as it is about machinery, even as it showcases a raft of DGM folder-gluers, die-cutting, Smart flute, Smart Braille and offline inspection machine at the Bharat Print Expo 2026.
Puneet Aggarwal, managing director of DGM, while speaking to PrintWeek, frames the current phase as one where familiar strengths are holding steady while adjacent segments gather pace. DGM closed the last financial cycle in India with close to 48 machine installations, Aggarwal said, noting that folder gluers continue to anchor the portfolio. “Out of the total, around 30 machines are folder-gluers, about 10 to 12 are die-cutters, and the rest are smart flute laminators,” he said. “Our share of other machines, other than folder-gluers is gradually increasing.”
What stands out is not just the mix, but the direction of demand. Aggarwal points to a structural shift in packaging design, where converters are moving towards lighter yet stronger alternatives. “Higher GSM solid board is being replaced by three-ply corrugated solutions. You use less paper weight but achieve more strength, so it becomes a cost-effective solution for the end-user,” he explained.
This transition is feeding directly into demand for flute laminators. Once brown boxes specific requirement, they are now becoming central to both mono carton workflows. “Companies that did not have any corrugation presence have grown 20% to 25% in that segment over the last five to seven years,” Aggarwal noted. “Offset laminated cartons or fluted cartons are driving this growth.”
At the same time, DGM is nudging the market towards value-added capabilities rather than just throughput. Aggarwal highlighted inline Braille embossing and inspection systems as the company’s current focus areas. “We are already well established in folder-gluers, die cutters and foil stamping. The next level is inspection and Braille,” he said. “Braille is not just a packaging feature, it is a legal requirement for pharma exports to Europe. It ensures accessibility for visually impaired users.”
Geographically, the company is recalibrating its attention. While North and West India remain established strongholds, the South is emerging as a priority. “Historically, we had fewer installations in South India. Post-Covid, we are making a more focused push,” Aggarwal said. “We have deployed a dedicated person for sales and service in the region, and that is already showing results.”
The South’s strong corrugation base is shaping product interest. “This is a corrugated-heavy market, so flute laminators are seeing growing traction here,” he explained. “At the same time, customers continue to rely on us for folder gluers and die cutters.”
Looking ahead, Aggarwal strikes a cautious but steady tone. “We should meet last year’s sales numbers, and we will aim to exceed them,” he said. “Demand in India is growing, but sentiment is uncertain.”
Several factors are weighing on converter confidence. Rising raw material costs, working capital pressures linked to inverted GST structures, and export slowdowns are all feeding into delayed investment cycles. “Printers are fighting for price increases while their funds are stuck. That pressure eventually comes onto capital equipment decisions,” Aggarwal noted.
Global developments are adding another layer of unpredictability. “There is no direct impact on manufacturing or shipments from China, but sentiment in India has softened slightly,” he said. “Existing projects are moving, deliveries are on track, but new projects are getting delayed.”
Even so, Aggarwal remains clear on the underlying trajectory. “The fundamentals of the Indian market are strong. The demand is there,” he said. “Right now, it is more about sentiment than actual slowdown. When confidence returns, the market can pick up quickly.”