About the Company:
Aztec Fluids & Machinery Ltd provides coding and marking solutions to a diverse range of industries such as personal care, food & beverages, pharmaceuticals, construction materials, cables, wires & pipes, metals, automotive & electronics, agrochemicals, chemicals & petrochemicals etc.
Company’s range of products allows customers to print vital variable information like batch number, date, price, logo, brand, size, barcodes, promotional codes, meter marks, special marks etc. on the products such as steel tubes, aluminum panels, G.I. sheets, laminates, glass, PVC, plywood, woven sac, corrugated boxes, plastics and packing materials.
Since 2015, Company is an exclusive distributor of Lead Tech (Zhuhai) Electronic Co. Ltd., China for CIJ Printers, TTO Printers and a range of associated equipment and accessories for various countries such as India, Sri Lanka, Nepal, Bhutan, Bangladesh, Kenya and Nigeria.
The other type of printers such as DOD and NIJ are imported by us from other foreign suppliers. After import of printers, based on the customers’ requirements we carry out certain functions such as printer configuration & stand installation on printers.
Company generates major domestic sales through customers situated in Gujarat, Rajasthan and Tamil Nadu.
Company’s Product Portfolio includes:
- Printers such as continuous inkjet printers (CIJ), Thermal Transfer Over printers (TTO), Drop on demand printers (DOD), NIJ printers (i.e. piezoelectric printers) and laser printers.
- Printer inks.
- Printer consumable items i.e. makeup and cleaning solvents.
Company’s Warehouse:
Company has registered office in Ahmedabad and owns a warehouse at Survey 252, Kanera, Kheda, Gujarat, primarily for storing imported printers. To support our growth initiatives, company has recently acquired a substantial land parcel covering two plots at Survey No. 331 and 333 in Kanera, Kheda, Gujarat, measuring a total area of 7,689 square meters.
Company’s Offices:
With the Head Office at Ahmedabad, Gujarat, Company has strategically established regional offices at Mumbai (West region), Kolkata East region), and Hyderabad (South region).
As on December 31, 2023, Company possessed a dedicated team of 28 employees for sales & marketing function and a team of 51 employees for after sales service and support to our clientele at their respective locations.
Company’s Customers:
Company’s Customer base includes some of the renowned names such as Astral Ltd, ADF Foods Ltd, Eris Lifesciences Ltd, Rossari Biotech Ltd, Surya Roshni Ltd, Vectus Industries Ltd., ERIS Therapeutics Ltd, Resinova Chemie Ltd, Prince Pipe & Fittings Ltd, Oswal Cables Pvt Ltd, Digicode, Codjet India and Makson Pharmaceuticals.
Acquisition of all the equity shares of Jet Inks Private Limited:
Company executed a term sheet, dated November 6th, 2023, pertaining to the acquisition of all the equity shares of Jet Inks Private Limited (“Jet Inks”), which is a Chennai based company, engaged in the business of manufacturing of inks and also deals in printers, consumables and spares.
Pursuant to the term sheet, Company acquired 18.05% stake in Jet Inks at a consideration of Rs. 3 crores. Further, Company has entered into Share Purchase Agreement dated April 22, 2024 with Jet Inks and its existing shareholders in relation to purchase of 38,92,858 equity shares of Jet Inks Private Limited (i.e. remaining 81.95% of the equity shares) for a consideration of Rs. 14 crores, payable before May 31, 2024.
Company’s Installed Capacity and Capacity Utilization:
Competitors in the Business:
Company’s Competitors in the organized segment includes Control Print Ltd., Videojet Technologies, Domino and Markem Imaje.
Management Team:
- Mr. Pulin Kumudchandra Vaidhya (Designation: Chairman & Managing Director)
- Mrs. Amisha Pulin Vaidhya (Designation: Whole-Time Director)
Objectives of the Issue:
Fresh Issue: (Rs.24.12 cr)
- Funding of the proposed acquisition of equity shares of Jet Inks Private Limited.
- Repayment of a portion of certain borrowing availed by our Company.
- General Corporate Purpose.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Funding of the proposed acquisition of equity shares of Jet Inks Private Limited | 14 cr |
| Repayment of a portion of certain borrowing availed by our Company | 3.72 cr |
Positives for the Company:
Well diversified customer base spread across various industries and geography.
- For the Fiscal 2023, Company has served over 1100 customers and have sold products in India and several other countries across the globe which include China, Malaysia, African countries such as
Nigeria, Rwanda, Mozambique Kenya Ghana, Uganda, Zambia and Middle East countries such as Saudi Arabia and Kingdom of Bahrain. - For the nine months period ended Dec.’23, Company’s revenue from operations were Rs. 50.91 crores of which approximately 94.43% of the revenue were from domestic markets and 5.57% from international markets.
Varied product range appealing to a diverse customer base.
- Company’s product portfolio includes (i) printers such as continuous inkjet printers (CIJ), Thermal Transfer Overprinters (TTO), Drop on demand printers (DOD), NIJ printers (i.e. piezoelectric printers) and laser printers (ii) printer inks and (iii) printer consumable items i.e. makeup and cleaning solvents.
- Company’s range of products allows customers to print vital variable information like batch number, date, price, logo, brand, size, barcodes, promotional codes, meter marks, special marks etc.
Long standing relationship with Customers.
- With an experience of over a decade in this field, company has been able to develop long-standing relationships with customers some of whom have been with us for around five years. For instance, companies such as Astral pipes, Prince pipes, Ashirvad Pipes, Makson Pharmaceuticals, Sentini Flopipes and Best Ink and Solutions have been our customers for the last five fiscals.
Expansion through setup of printer assembly unit.
- Company has recently acquired a significant land parcel measuring a total area of 11,028 square meters, encompassing three plots situated at Survey No. 252, 331, 333 in Kanera, Kheda, Gujarat.
- Company believes that the establishment of a dedicated printer assembly unit in Kanera, Gujarat, is anticipated to enhance operational efficiency, streamline production processes, and reduce logistical complexities, leading to overall cost savings and improved service delivery.
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 31st Dec 23 |
|---|---|---|---|---|
| Revenue | 34.67 | 46.42 | 54.52 | 51.82 |
| Net Profit | 2.46 | 3.11 | 3.27 | 4.50 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Aztec Fluids & Machinery Ltd | 10 | 3.27 | 20.48 | 21.32% | 15.36 |
| Control Print Limited | 10 | 32.36 | 29.13 | 17.23% | 180.00 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 10th May 2024 |
| Issue Closes on | 14th May 2024 |
| Issue Price | Rs.63 -67 |
| Face Value | Rs.10 |
| Minimum Lot | 2000 shares |
| Minimum Investment | Rs.1,34,000 |
| Issue Constitutes | 26.47% |
| Issue Size | BSE SME |
| Market Cap | Rs.24.12 cr |
| Listing at | Rs.91.12 cr |
| Equity Shares Offered (Fresh) | 36,00,000 (Rs.24.12 cr) |
| Equity Shares Prior to the Issue | 1,00,00,000 |
| Equity Shares after the Issue | 1,36,00,000 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 15th May 2024 |
| Initiation of Refunds | on or Before 16th May 2024 |
| Credit of Equity Shares: | on or Before 16th May 2024 |
| Listing Date: | on or Before 17th May 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 3.27 | 20.48 | 21.32% | 15.36 |
Also Read: Complete List of NSE/BSE Holidays List>>
| Should You Subscribe or Not ? (Markets Guruji’s View) |
|---|
| Aztec Fluids & Machinery Ltd stands at the forefront of coding and marking solutions, catering to an extensive array of industries spanning personal care, food & beverages, pharmaceuticals, and beyond. With a comprehensive product line, Company’s solutions empower clients to imprint crucial variable data such as batch numbers, dates, prices, logos, and barcodes onto an assortment of materials including steel tubes, laminates, plastics, and more.
With a diverse product range and a solid foundation of customer relationships, Aztec Fluids & Machinery Ltd presents an enticing opportunity for long-term investment. |
| Company Contact Info: |
|---|
| Aztec Fluids & Machinery Ltd Part H Plinth,4th Floor, Takshashila Square, Near Krishnabag Four Rd, Maninagar, Ahmedabad, Gujarat- 380028. Tel No: +91-7048333211 E-mail: cs@aztecfluids.com Website: www.aztecindia.org |
| Registrar to the Issue: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED Address: S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai – 400093 MH, India. Tel No.: +91 22 6263 8200 Email: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| HEM SECURITIES LIMITED Address: 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000; Email: ib@hemsecurities.com Website: www.hemsecurities.com |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment |
| Find the List of Upcoming IPOs in India: |
|---|
Upcoming IPOs in India (Click on the below Link)https://www.marketsguruji.com/upcoming-ipos-in-india/ |
