Eric Solis Marketing Limited

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What it is

With over 50 years of excellence in the sales and servicing of multi-function copy and print devices, including exclusive distribution of Konica Minolta, SOLIS is one of Trinidad and Tobago’s leading office-technology companies. Beyond printers and photocopiers, it sells and rents office furniture, commercial interior fittings, interactive digital displays, document shredders, and print-management software — making it a full office outfitter rather than a single-product dealer.

It is listed on the TTSE’s Small and Medium Enterprise (SME) Market, with 8.33 million shares outstanding and a market capitalisation of TTD 35m (approximately US$5.2m at the time of that measure). FY2025 — the year ended April 30, 2025 — was SOLIS’s 58th year of operation.

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Who owns it

SOLIS is a wholly-owned subsidiary of Star Copy Limited (SCL), itself a subsidiary of The Office Authority Limited (OA) — the largest integrated office-products group in the English-speaking Caribbean. After the September 2024 IPO, SCL retained a 67% interest in SOLIS, leaving a 33% free float on the TTSE.

Office Authority itself is 75.05% controlled by Hance and Angella Persad, with a further 14.14% held by Rishi Baddaloo and the estate of Geoffrey Ferreira. SOLIS’s IPO was the first new listing on the TTSE’s SME market in five years and attracted around 150 first-time investors.

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Who runs it

The board is chaired by Angella Persad, who is also Executive Chairman of The Office Authority Ltd.; the Group Managing Director is Rishi Baddaloo; other directors include Mukesh Mahangoo, independent director Kristine Thompson, and independent director Ezekiel George Gobin. Suresh Ramsundar has served as General Manager of SOLIS since 2014, bringing 17 years of experience in the print and imaging sector.

A CFO specific to SOLIS is not separately disclosed in available sources; financial, HR, IT and shipping functions are provided as shared services by The Office Authority’s central team, for which SOLIS pays a monthly management fee.

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The money, in plain words

Revenue for FY2025 rose to TTD 36.5m (US$5.41m), up from TTD 27.5m the year before — a 32.7% increase (our calculation). Gross profit reached approximately TTD 17.8m, growing 58% over FY2024 — a gross margin of 48.8% (our calculation), meaning the company keeps nearly half of every dollar of sales before overhead.

Profit after tax more than tripled, from TTD 2.8m in FY2024 to TTD 6.3m (US$0.94m) in FY2025 — growth of over 220%. At a net profit margin of 17.3% (our calculation), SOLIS keeps about 17 cents of profit from every Trinidad dollar it earns — strong for an equipment distribution business.

Shareholders’ equity doubled to TTD 30.2m and total assets rose to TTD 52.7m, up from TTD 29.5m a year earlier.

Net cash — money in the bank after borrowings — stood at TTD 4.7m (US$0.70m) at year-end, a swing from a negative TTD 1.9m the prior year. At a price-to-earnings ratio of 5.2× (our calculation), the shares trade at a low multiple by any standard, though the micro-cap size and thin trading on the SME board partly explain that.

An interim dividend of TTD 0.08 per share was declared in February 2025, paid in April 2025.

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What it is doing now

On January 31, 2025, SOLIS completed its acquisition of Business Equipment & Interiors International Ltd (BEI), adding market share in copiers and printers and opening new lines in office furniture and commercial interior fittings. The BEI acquisition was funded entirely from the IPO proceeds, deploying the new capital quickly.

In May 2025, Konica Minolta named SOLIS its Dealer of the Year for Latin America and the Caribbean at its international conference in Dubai — an external validation of the company’s commercial standing in the region. Alongside its core printer and copier business, SOLIS is expanding into Samsung commercial screens, industrial label printing, and the office-furniture and commercial-flooring markets it gained through BEI.

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What to watch

• BEI integration: BEI’s results only contributed in Q4 of FY2025, so FY2026 will be the first full year to show whether the deal earns its price.
• Equity base: The return on equity of 20.9% (our calculation) looks strong today, but it is built partly on IPO proceeds still being put to work; watch whether it holds as equity stabilises.
• Liquidity: SOLIS is the third company ever listed on the TTSE’s SME market, and SME-market stocks in Trinidad trade thinly; bid-ask spreads and infrequent trades are a real constraint for investors who may need to sell.
• Parent relationship: With 67% held by Star Copy Limited and day-to-day services managed by Office Authority, related-party transactions — management fees, intercompany pricing — merit close reading in each annual report.
• Samsung and diversification: Commercial screens are a different market from printing equipment; success here would structurally reduce SOLIS’s dependence on any single product category or brand.

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This is news, not investment advice.