Aztec Fluids & Machinery Ltd (544177) — concall transcript | 31 March 2026

Aztec Fluids & Machinery reported 9.2% YoY revenue growth to 96.53 crores in H2 FY26, with EBITDA margin expanding to 14.3% and PAT at 7.41 crores. Management highlighted resilient demand in extrusion and FMCG, backward integration progress (40-50% printer spare parts indigenized), and Jettings acquisition synergies boosting margins. CAPEX plans focus on in-house manufacturing funded internally, with no equity dilution. After-sales revenue remains strong at 80,000-120,000 INR per printer annually, and the company targets 13-14% EBITDA margins while navigating raw material cost pressures from the Iran war.