Aztec Fluids & Machinery Ltd.

Aztec Fluids & Machinery Ltd.

BBSE:AZTEC
98.00
INR
-3.00
(-2.97%)
1.13BMarket Cap
2021 Y
2022 Y
2023 Y
2025 Y
2026 Y
TTM
Revenue per Share
24.92
33.59
39.84
67.22
70.93
- -
Basic EPS, GAAP
1.81
2.29
2.41
5.75
5.45
- -
Free Cash Flow per Basic Share
-0.13
0.63
2.11
-0.23
1.54
- -
Dividend per Share
- -
- -
0.22
0.51
- -
- -
Book Value per Share
7.05
9.11
11.29
36.85
42.3
42.3
Tangible Book Value per Share
7.05
9.11
11.29
32.34
33.84
33.84
Basic Weighted Avg Shares
14
14
14
13
14
14
Sales/Revenue/Turnover
339
457
542
884
965
- -
Operating Margin (%)
10.88
8.72
9.84
10.38
12.36
- -
Depreciation Expense
4
3
3
12
22
- -
Net Income, GAAP
25
31
33
76
74
- -
Effective Tax Rate (%)
28.13
24.81
24.02
25.37
27.95
- -
Profit Margin (%)
7.27
6.81
6.04
8.56
7.68
- -
Working Capital
56
61
73
202
199
199
LT Debt
36
27
22
13
9
9
Total Equity
96
124
154
501
575
575
Return on Invested Capital (%)
- -
16.18
17.78
14.65
11.87
- -
Return on Capital (%)
- -
20.54
18.13
20.21
12.18
- -
Return on Common Equity (%)
- -
28.33
23.6
23.1
13.76
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
ST Debt
129
181
158
LT Borrowings
13
11
9
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
14
14
14
Market Capitalization
1,144
1,301
1,129

Working Capital

INR

•

in mil. unless spec.
Mar'25
Sep'26
Mar'26
Total Current Assets
567
667
679
Cash, Cash Equivalents & STI
2
2
2
Accounts Receivable, Net
249
306
273
Inventories
228
276
321
Total Current Liabilities
365
468
481
Payables & Accruals
- -
- -
- -
ST Debt
129
181
158
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
14.78%
Free Cash Flow
- -
- -
-810.07%
Net Income, GAAP
- -
- -
-2.07%
Sales/Revenue/Turnover
- -
- -
9.16%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2025
- -
- -
884
2026
- -
- -
965

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2025
- -
- -
5.75
2026
- -
- -
5.45

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2025
- -
- -
0.51
2026
- -
- -
- -

Company Description

CEO
Pulin Kumudchandra Vaidhya
Full Time Employees
122
Sector
Producer manufacturing
Industry
Industrial machinery
Address
Ahmedabad India
IPO Date
May 17, 2024
Business
Aztec Fluids & Machinery Ltd. is an India-based provider of industrial coding, marking, packaging automation, and traceability solutions. Founded in 2010 and headquartered in Ahmedabad, Gujarat, India, the company specializes in the development, assembly, distribution, and export of coding machinery, industrial consumables, and digital serialization software. The company's hardware portfolio comprises continuous inkjet (CIJ) printers for high-speed date, batch, and barcode printing; thermal transfer overprinters (TTO) for flexible packaging lines; drop-on-demand (DOD) large-character printers for secondary packaging; high-precision laser marking systems, including CO2 and fiber laser engravers for non-contact permanent marking; needle inkjet (NIJ) coding units; vision inspection systems; pneumatic rejection mechanisms; and integrated conveyor assemblies. In addition to printing machinery, the company manufactures and supplies an extensive catalog of industrial consumables and spare parts, including continuous inkjet inks; make-up fluids; cleaning solvents; specialized ink cartridges; filtration assemblies; printheads; electronic valves; and replacement components compatible with leading original equipment manufacturer printer brands. Aztec Fluids & Machinery also provides enterprise software solutions, anchored by the AZTRACE digital traceability and anti-counterfeiting platform, which enables end-to-end supply chain visibility, product authentication, and regulatory compliance. The company serves diverse manufacturing industries, including food and beverage, pharmaceuticals, personal care and cosmetics, agrochemicals, automotive, construction materials, and wire and cable manufacturing. Aztec Fluids & Machinery operates a pan-India sales and service network across 24 states and 3 union territories, supported by regional branches in key centers such as Mumbai, Kolkata, and Hyderabad, and exports machinery and fluids to global markets across Africa, Asia, and the Middle East, while also acting as the authorized distributor for international brands such as Lead Tech. In major recent corporate developments, the company completed its initial public offering (IPO) and listed its equity shares on the BSE SME platform in May 2024. Following the listing, Aztec Fluids & Machinery acquired a 100% equity interest in Jet Inks Private Limited, establishing it as a wholly-owned subsidiary to expand its domestic market presence across South and East India, scale solvent and ink formulation capacities, and bolster research and development operations. The company has also expanded and automated its central manufacturing facility in Kheda, Gujarat, and launched the AZTRACE software suite to broaden its presence in high-margin enterprise traceability and serialization services.