BSE: 522017
FLUIDOMAT LTD.
Manufactures fluid couplings at its plant in Indore, operating as a single business segment. Revenue in FY26 was Rs 72.46 crore, with an EBITDA margin of 38.7% and net profit of Rs 20.06 crore on total assets of Rs 109.91 crore. The installed base of fluid couplings exceeds 60,000 units across 15 or more export countries, reflecting an export-tilted industrial product business. A Rs 35 crore capex plan approved in February 2026 is intended to lift annual capacity from 1,500 to 3,500 units over 2-3 years and is eligible for a 40% capital subsidy; a separate deal to buy a 2,000 sq. mt. tin shed in Dewas was cancelled by mutual consent. Materials are the largest cost at 31.9% of revenue, followed by employee costs at 19.9% and other operating expenses at 14.3%. The company is debt-free with a 30% ROCE and 53.45% promoter holding, and the board has recommended a Rs 7.50 per share dividend for FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fluid couplings (100%). Single-product, small-cap, debt-free industrial manufacturer with an export tilt.
Exhibit 1: Financial summary, FY20–FY23 (all audited; no estimate years)
| ₹ crore · consolidated | FY20 | FY21 | FY22 | FY23 |
|---|---|---|---|---|
| Revenue | 25 | 28 | 34 | 46 |
| EBITDA (ex other income) | 3 | 5 | 7 | 12 |
| margin % | 12.8 | 16.6 | 19.1 | 26.7 |
| Owners' profit | 3 | 4 | 5 | 10 |
| EPS, as reported (₹) | 6.05 | 8.93 | 11.65 | 19.48 |
| ROE % · ROCE % | 9.7 · 12.7 | 10.7 · 14.2 | 13.3 · 17.5 | 19.5 · 25.5 |
| Debt / equity (x) | 0.03 | 0.00 | 0.00 | 0.00 |
| Cash from operations | — | 2 | 6 | 5 |
| Capex | — | (1) | (2) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 6 | 8 | 9 | 11 | 9 | 13 | 10 | 14 |
| Profit before tax | 1 | 2 | 2 | 2 | 2 | 4 | 2 | 4 |
| Net profit | 1 | 1 | 1 | 2 | 2 | 3 | 2 | 3 |
| EPS (₹) | 2.50 | 2.69 | 2.94 | 3.52 | 2.92 | 6.54 | 3.49 | 6.52 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 33.0 | 26.7 | 77 of 130 | 41% |
| P/B | 6.4 | 3.1 | 86 of 112 | 23% |
| ROCE | 25.6 | 11.3 | 14 of 142 | 91% |
| ROE | 19.5 | 9.8 | 13 of 113 | 89% |
| Debt / Equity | 0.0 | 0.2 | 1 of 113 | 80% |
| EBITDA margin | 32.3 | 12.4 | 10 of 110 | 92% |
| Revenue growth | 28.7 | 20.6 | 40 of 114 | 66% |
| Profit growth | 85.1 | 17.1 | 33 of 109 | 70% |
| Market cap | 316 | 273 | 70 of 141 | 51% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Board appoints Pramila Jain and revises managing director roles | management changes | medium | — | — |
| 24 Oct 2026 · Board approves senior management changes and new chairperson | board shareholder meetings | low | — | — |
| 14 Oct 2026 · Compliance certificate for demat of shares for Q2 FY26-27 | compliance | minimal | — | — |
| 9 Oct 2026 · Chairman and Promoter Shri Ashok Jain passes away | management changes | critical | — | — |
| 28 Sept 2026 · Fluidomat re-appoints Ashok Jain as Chairman and MD for 3 years | management changes | high | — | — |
| 28 Sept 2026 · Fluidomat Ltd approves Rs 7.50 (75%) final dividend for FY26 | corporate actions | high | — | — |
| 28 Sept 2026 · FLUIDOMAT 50th AGM: All 4 resolutions passed, Rs. 7.50 dividend approved | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · Fluidomat AGM 2026: 4 resolutions passed, Rs 7.50 dividend declared | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closure from Oct 1 till Q2 and H1 results announcement | compliance | minimal | — | — |
| 26 Sept 2026 · Fluidomat 50th AGM okays Rs.7.50 dividend, PAT Rs.20 Cr, debt-free | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.