- **Fluidomat is India’s original fluid-coupling specialist - a company that brought a critical power-transmission technology to the country in 1971 and has spent over five decades turning it into a near-irreplaceable position in heavy industry. Headquartered in Dewas, Madhya Pradesh, and led by Ashok Jain, an electrical engineer who developed the technology indigenously when India had none, the company made the nation one of only five globally capable of independently designing and producing fluid couplings. Everything the business does flows from a single recurring logic: build the technology in-house, manufacture with deep vertical integration, and embed products so deeply in customers’ plants that switching becomes unthinkable - then earn from spares and service for decades after the first sale.** # Business segments A single engine powering heavy industry - one product family, one manufacturing backbone, one customer type - sold as capital equipment and then serviced for life. ## 1. Fluid couplings: the transmission that heavy industry cannot easily switch out **A fluid coupling sits between a motor and a machine, starting it softly and saving energy - and once installed in a power plant or mine, it is rarely ever replaced by a competitor.** - **One product, four series** - the company makes fixed-speed and variable-speed fluid couplings across four ranges: scoop-controlled couplings for stepless speed control in fans and pumps, fixed-speed couplings for conveyors and crushers, water-filled steel-body couplings certified for underground mines and explosive atmospheres, and drain-nozzle couplings for diesel-engine-driven mobile equipment, with a maximum power capability of 6,000 kW. - **Sold into nearly every heavy industry** - its couplings drive boiler feed pumps and draft fans in thermal power plants, kilns and raw mills in cement, conveyors and crushers in mining, process pumps in refineries, and propulsion systems in marine, with a client list that includes NTPC, Coal India, ONGC, Reliance, Adani, UltraTech Cement, and thyssenkrupp. - **Energy savings create the payback** - the couplings deliver up to 15% energy savings at part-load compared to throttling, and a typical customer recovers the investment in 3 to 5 years through lower maintenance, reduced risk of motor burnout, and longer life for drive-line components. - **The installed base is the annuity** - more than 60,000 fixed-speed units and over 5,000 variable-speed units are already in the field, generating recurring revenue from spares, retrofits, and annual maintenance contracts that grow every year regardless of new-project cycles. - **Customers do not switch** - major buyers like NTPC, Coal India, ONGC, BPCL, and HPCL treat fluid couplings as certified, tested, and trusted products; after a successful installation, the cost and risk of changing vendors keeps the business locked in. ## 2. In-house manufacturing: the foundry-to-test-bench backbone **The company pours its own metal, machines its own components, and tests every unit on its own beds - vertical integration that protects quality and margins.** - **Two foundries under one roof** - an aluminium foundry and a cast iron foundry, each with a pouring capacity of 50 tonnes per month, supply the raw castings that go into every coupling, so the company does not depend on outside foundries for critical parts. - **Precision machining in-house** - CNC turning and vertical milling centres produce high-precision components, while GMAW-certified welders handle pipeline and housing fabrication, keeping the full production sequence inside the Dewas facility. - **Every unit tested before it leaves** - ten test benches ranging from 15 kW to 400 kW, equipped with motors, gearboxes, and dynamometers, run vibration, rotational, and performance tests on every coupling, which is how the company earns the “certified and tested” label that customers rely on. - **Capacity is doubling** - the plant currently produces about 1,500 units a year at roughly 96% utilisation, and a Rs. 35 crore expansion funded entirely from internal accruals is under way to lift that to 3,500 units over 2-3 years, including modernised foundries, new CNC machines, high-kW test beds, and 86,988 sq. ft. of new construction. ## 3. Exports and distribution: taking an Indian technology to markets that once had no local option **The company sells to over 15 countries, often breaking into markets previously served only by European competitors.** - **Direct sales plus distributors** - domestic sales run through offices in Mumbai, Delhi, Chennai, and Kolkata, while exports reach Malaysia, Indonesia, the UAE, Saudi Arabia, Australia, South America, Africa, Thailand, Korea, Oman, New Zealand, North America, Brazil, and the Netherlands. - **Saudi Arabia opened through a local giant** - in November 2025, the company appointed Oceanwings Trading Company, part of the Expertise Group (a Saudi industrial conglomerate with over 20,000 employees), as its exclusive distributor for Saudi Arabia, targeting a market that had previously bought only from European suppliers. - **Approved by the gatekeepers** - products carry approvals from internationally recognised engineering consultants and EPC majors, which is the credential that unlocks orders on large industrial projects abroad. # Group structure and partners **A standalone Indian company with a concentrated promoter holding and one strategic overseas distribution partnership - no subsidiaries, no joint ventures.** - The company is a single legal entity listed on BSE under scrip code 522017. - A previously incorporated UK subsidiary never commenced operations and was dissolved in June 2023, with the company stating it will be receiving the remaining bank balance of GBP 13,264 after complying with required compliances. - Promoter and promoter group entities hold approximately 53.5% of the equity, a stake that has remained stable across reporting periods. - The exclusive Saudi Arabia distributor, Oceanwings Trading Company, is a subsidiary of Expertise Group, an industrial conglomerate founded in 2008 in Jubail Industrial City with operations spanning petrochemicals, oil and gas, fertilisers, steel, cement, water treatment, and power generation.