Aztec Fluids & Machinery Limited, established in April 2010, specialises in supplying a comprehensive range of printers, printer consumables, and printer spares to various industries. These industries include personal care, food and beverages, pharmaceuticals, construction materials, cables and wires, pipes, metals, automotive, electronics, agrochemicals, chemicals, and petrochemicals.
The company's product lineup features a variety of printers such as continuous inkjet printers (CIJ), Thermal Transfer Over printers (TTO), Drop-on-demand printers (DOD), NIJ printers (piezoelectric), and laser printers. Alongside these, Aztec Fluids & Machinery provides essential printer inks and consumables like makeup and cleaning solvents.
Aztec Fluids & Machinery has a significant international footprint, exporting its products to countries including Sri Lanka, Nepal, Bhutan, Bangladesh, Kenya, and Nigeria. The company operates from its registered office in Ahmedabad and maintains a warehouse in Kheda, Gujarat, which serves as the primary storage facility for imported printers.
As of December 31, 2023, Aztec Fluids & Machinery employs a dedicated team of 28 in sales and marketing and another 51 in after-sales service and support, who work directly at client locations to ensure optimal customer satisfaction.
Industry Outlook:
- India's Capital Goods sector contributes 12% to manufacturing output and 1.8% to GDP, with a market valuation of US$ 43.2 billion in FY22.
- The Indian electronics manufacturing industry is set to reach US$ 520 billion by 2025, driven by a rising demand projected at US$ 400 billion.
Aztec Fluids & Machinery Ltd IPO Details
Aztec Fluids & Machinery Ltd IPO Dates
Aztec Fluids & Machinery IPO is open from May 10, 2024, to May 14, 2024. The IPO will be listed on BSE SME.
Aztec Fluids & Machinery Ltd IPO Price Band
Aztec Fluids & Machinery is a book built issue IPO. The price band is set at ₹63 to ₹67 per share.
Aztec Fluids & Machinery Ltd IPO Lot Size
The lot size for Aztec Fluids & Machinery Limited’s IPO is 2,000 shares with a minimum investment of ₹1,34,000.
Aztec Fluids & Machinery Ltd IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of the proposed acquisition of equity shares of Jet Inks Private Limited
- Repayment of a portion of certain borrowing availed by the Company
- General Corporate Purposes
Peer Details
The only listed company considered by Aztec Fluids & Machinery as its peers is Control Print Ltd.
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Contact Details of Aztec Fluids & Machinery Limited IPO
- Registered office: Part H Plinth,4th Floor, Takshashila Square, Near Krishnabag Four Rd, Maninagar, Ahmedabad, Gujarat 380028
- Phone: +91-7048333211
- E-mail:cs@aztecfluids.com
IPO Financials
| Particulars | 9-Month period Ending on December 31, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Total Revenue (in ₹ lakh) | 5182.38 | 5,452.97 | 4,642.56 |
| Profit After Tax (PAT) (in ₹ lakh) | 450.74 | 327.38 | 311.25 |
| Cash & Cash Equivalents (in ₹ lakh) | 83.95 | 304.52 | 58.39 |
| Net Worth (in ₹ lakh) | 1,986.34 | 1,535.60 | 1,238.56 |
| Debt Equity Ratio (x) | 0.28 | 0.37 | 0.45 |
| Return on Equity (%) | 25.60% | 23.60% | 28.33% |
| Return on Capital Employed (RoCE) (%) | 25.38% | 22.07% | 24.86% |
| Diluted Earning Per Share (EPS)-in absolute ₹ | 4.51 | 3.27 | 3.11 |
Know before investing
Strengths
4The diverse product range includes CIJ, TTO, DOD, NIJ, and laser printers, enhancing the market reach and meeting various industry needs for batch numbering and branding.
Global presence with exports to countries like Sri Lanka, Nepal, and Kenya, broadening market penetration and reducing dependency on domestic sales.
Robust after-sales support with 51 dedicated employees, ensuring high customer satisfaction and repeat business across multiple sectors.
The leadership is empanelled with experienced founders, driving growth with their deep industry knowledge and operational expertise.
Risks
4Legal proceedings involve 22 cases with disputes totalling ₹463.28 lakhs, potentially affecting net worth, profitability, and management focus.
Exclusive distributorship with Lead Tech risks termination; failure to meet sales targets could jeopardise operations and financial performance.
Dependence on Fluidtech for ink and consumables supply under a 15-year agreement risks disruption if terms change or the agreement ends.
Audit qualifications for FY 2020-21 to 2022-23 highlight potential financial inaccuracies and unquantifiable impacts due to unsegregated expenses and unconfirmed transactions.
