Aztec Fluids & Machinery concluded its 16th Annual General Meeting on September 10, 2026, unveiling AZTRACE, a new software product designed for end-to-end product traceability. Group CFO Devraj Pandya presented the launch during the meeting.

The AGM was conducted via Video Conferencing and Other Audio-Visual Means (OAVM) from 3:00 pm to 3:58 pm IST. A total of 14 members participated in the proceedings. Mr. Pulin Kumudchandra Vaidhya, Managing Director, chaired the meeting.

Product Details

AZTRACE is categorized under Software and Technology Services. It aims to provide a digital identity for physical products, enabling real-time traceability from manufacturing to consumer. Key features include serialization, inventory management, anti-counterfeit measures, and reward systems.

The company stated that AZTRACE connects the physical world with the digital world through a "digital thread." This allows businesses to track every product movement, detect anomalies, and analyze interactions. The platform integrates with existing enterprise systems such as ERP, CRM, and WMS via an API layer.

Meeting Proceedings

Board members participating remotely included Mrs. Amisha Vaidhya, Whole-time Director; Mr. Kumudchandra Vaidhya, Non-Executive Director; Mr. Ashish Shah, Independent Director; and Mr. Milan Desai, Independent Director. Mr. Harsh Rawal, Chief Financial Officer, and Mr. Devraj Pandya were present in the boardroom.

Statutory Auditor Jignesh Dhaduk and Secretarial Auditor Ravi Kapoor attended via video conference. Ravi Kapoor also served as the scrutinizer for remote e-voting facilitated by Bigshare Services Private Limited.

Compliance and Disclosures

The company complied with SEBI Listing Regulations and the Companies Act, 2015. Disclosures regarding the new product were made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026. Detailed voting results will be submitted to BSE Limited within two working days.

Aztec Fluids & Machinery Limited has fixed Thursday, September 10, 2026, as the date for its 16th Annual General Meeting (AGM). The meeting will be conducted through Video Conferencing or Other Audio Visual Means (OAVM) at 3:00 pm IST. This announcement was made pursuant to Regulation 42 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board has fixed Thursday, September 3, 2026, as the record date to ascertain shareholders entitled to participate in the AGM and receive dividends. Shareholders can exercise their voting rights electronically during the remote e-voting window, which commences on Monday, September 7, 2026, and ends on Wednesday, September 9, 2026. The notice convening the AGM was sent to all shareholders on August 17, 2026.

E-Voting Schedule

Shareholders can exercise their voting rights electronically during the specified window. The facility is available for transacting items of business as per the AGM notice.

Financial Performance Overview

Aztec Fluids released its Annual Report for the financial year ended March 31, 2026 (FY26), reporting consolidated revenue from operations of ₹9,653.04 lakh, marking a growth of 9.2% over ₹8,842.49 lakh in FY25. Standalone revenue grew more robustly at 12.9%, reaching ₹8,337.81 lakh from ₹7,387.09 lakh in the previous year.

Despite top-line expansion, consolidated Profit After Tax (PAT) saw a marginal decline to ₹740.71 lakh from ₹756.40 lakh in FY25. Management attributed this dip entirely to an 85.2% increase in depreciation charges, which rose from ₹118.67 lakh to ₹219.81 lakh due to accelerated capital investments, including a new manufacturing unit in Kanera and technology platform deployments. Underlying operational strength remained intact, with EBITDA growing 9.6% and EBITDA margin expanding by 38 basis points.

What the Numbers Show

The divergence between rising EBITDA margins and declining PAT highlights the impact of aggressive capital expenditure on short-term profitability. While core operations expanded efficiently—evidenced by the margin expansion—the heavy depreciation burden from new assets suppressed net earnings. This suggests a strategic phase where investment in capacity and technology is prioritized over immediate bottom-line optimization.

Governance and Related Party Transactions

The AGM agenda features several special resolutions regarding board appointments and related-party transactions:

• Reappointment of Directors: Shareholders will vote to reappoint Mr. Pulin Kumudchandra Vaidhya as Managing Director and Mrs. Amisha Pulin Vaidhya as Whole-Time Director for three-year terms effective from November 25, 2026, to November 24, 2029.
• Remuneration Approval: Approval is sought for managerial remuneration up to ₹350 lakh per annum for both directors over the three-year period.
• Rental Agreements: The company seeks approval for material related-party transactions involving the lease of premises owned by the MD and WTD. The aggregate rent is capped at ₹15 lakh per financial year for each property, for a duration of five years starting FY27. These premises are used as guest houses for staff and guests.

Mr. Kumudchandra Bhawandas Vaidhya, Non-Executive Director, retires by rotation and offers himself for reappointment.

Subsidiary Integration

The financial results include the full-year contribution of Jet Inks Private Limited, acquired in FY25. The subsidiary delivered profitable growth, validating the acquisition thesis of backward integration into ink manufacturing. The integration was completed within three months with zero operational disruption, strengthening Aztec’s control over consumables supply chain and recurring revenue streams.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0SCB01016/3e6afc3b-c303-4556-90f8-c317756de97e.pdf