Aztec Fluids & Machinery Live Share Price Today, Share Analysis and Chart

About the company - Business Profile

Aztec Fluids & Machinery Ltd. (AFM) is an established provider of coding and marking solutions, specializing in the manufacturing and distribution of industrial printers, printer inks, and consumables. The company primarily serves diverse industrial sectors including food and beverage, pharmaceuticals, and manufacturing, where product traceability and regulatory compliance are essential. AFM operates as a technology-driven entity, offering a comprehensive range of printing technologies such as Continuous Inkjet (CIJ), Thermal Transfer Over (TTO), and Laser coding to meet varied surface and environment requirements.

Key Points

• Key Facts: Founded in 2010, Aztec Fluids & Machinery is headquartered in Ahmedabad, Gujarat. The company transitioned from a private limited entity to a public company and listed its shares on the BSE SME Platform on May 17, 2024.
• Operations and Resources: The company operates a manufacturing and assembly facility in Kheda, Gujarat, covering 11,028 square meters. This facility uses lean manufacturing techniques and features 80% automation, with a production capacity of 3,000 to 4,000 liters of product and 50 machines per day.
• Ownership: As of September 30, 2025, the Promoter & Promoter Group held 74.66% of the equity, with the remaining 25.34% held by the public.
• Market Significance: AFM provides critical coding solutions for product security and identification across multiple industries. Its strategic importance is bolstered by its 100% subsidiary, Jet Inks Private Limited, which focuses on high-quality consumable manufacturing.
• Sustainability and Innovation: The company focus on expanding its technological footprint through the adoption of Lean manufacturing and increasing automation to drive operational efficiency.

Business Model and Performance

AFM’s business model revolves around the sale of coding hardware (printers) and the recurring revenue generated from consumables (inks and solvents) and spare parts. This "razor-and-blade" model ensures consistent cash flow through the lifecycle of the installed printer base.

Revenue Breakdown (FY 2024-25 Standalone):

• Total Revenue: ₹73.87 Crore (compared to ₹67.68 Crore in FY24).
• Segmented Revenue (H1 FY26 vs H2 FY25):
  • Inks & Solvents: Contributed 53.11% (₹22.37 Crore in H1 FY26).
  • Printers: Contributed 32.84% (₹15.50 Crore in H1 FY26).
  • Spares: Contributed 11.43% (₹3.65 Crore in H1 FY26).
  • Others: Contributed 2.62% (₹1.16 Crore in H1 FY26).

Financial Highlights (Standalone FY 2024-25):

• EBITDA: ₹11.37 Crore with a margin of 14.77%.
• Net Profit (PAT): ₹7.36 Crore, representing a margin of 9.56%.
• Recent Performance (H1 FY26 Consolidated): Revenue stood at ₹48.92 Crore with an improved EBITDA margin of 15.20% and a PAT of ₹4.22 Crore.

Products and Strategic Initiatives

• Core Product Range:
  • Printers: Includes Continuous Inkjet (CIJ), Thermal Transfer Over (TTO), Drop on Demand (DOD), Piezoelectric (NIJ), and Laser (CO2 and Fiber) printers.
  • Consumables: High-temperature retort inks, invisible inks for security, UV inks, and specialty fluids like makeup and cleaning solvents.
• Acquisitions: The company utilized ₹14.00 Crore from its IPO proceeds to acquire a 100% stake in Jet Inks Private Limited, strengthening its backward integration and R&D capabilities in ink formulation.
• Workforce: AFM employs over 100 staff and plans to increase its headcount by 50% to support the ramp-up of the new assembly unit.
• Future Outlook: Strategic focus is on scaling production through the new Kheda facility, increasing automation to 80%, and expanding the customer base in the high-demand segments of food and pharmaceutical packaging.

References

1. Investor Presentation Jan 2026
2. Result Nov 2025