### **Overview** Mazda Limited is a diversified industrial and FMCG company with two core business segments: **Engineering** and **Food**. The company demonstrates strong innovation capabilities, strategic expansion in both domestic and international markets, and a forward-looking focus on sustainable, energy-efficient, and chemical-free technologies. As of 2025, Mazda is positioned for steady growth driven by product innovation, increasing export partnerships, and successful market penetration in both engineering solutions and packaged foods. --- ### **Key Segments & Strategic Focus** #### **1. Engineering Segment – Core Business & Innovation Hub** The Engineering division remains the cornerstone of Mazda Limited, contributing the majority of revenue and driving technological innovation. - **Market Position & Capacity:** - Holds **30–35% market share** in India’s ₹200-crore vacuum systems market, with a strong presence in edible oil refining and thermal power sectors. - Captures **₹60–75 crores** in the ₹400–500-crore evaporators market, primarily in effluent recovery and ZLD (Zero Liquid Discharge) applications. - Current production capacity supports **up to ₹250–260 crores** in revenue; expansion plans may be triggered as demand grows. - **Key Products & Technologies:** - **Smart Rod System**: A **non-chemical anti-scaling and descaling solution** for boilers, chillers, cooling towers, and RO systems. Already deployed successfully in multiple industries. - **Key Client**: Hindustan Coca-Cola has adopted the system and showcased it at its Atlanta HQ, paving the way for global scale-up. - Offers **cost savings of ₹70,000–1,00,000/month** and eliminates plant downtime (potential savings up to ₹1 crore/day). - Payback period: **1.5 months to 1 year**, depending on scale. - **No direct competition** in India; only 1–2 niche players use alternate technologies. - **Patented Hybrid MVR/TVR Evaporation Systems**: Designed for **higher energy efficiency** and improved performance in industrial evaporation, targeting leadership in the evaporator market. - **High Gravity-Based Air Pollution Control**: Aims to reduce **capital and operational costs** of scrubbers while enhancing capture of **CO₂, SO₂, and NH₃**. Expected launch: **2027**. - **Chemical-Free Cleaning-in-Place (CIP) Solution**: In **alpha trials** for the dairy industry, offering sustainable, operationally efficient cleaning. Target launch: **H2 2026**. - **Indigenous Ion Exchange Membranes**: Developed in collaboration with a major research body. First of its kind in India, with applications in EDI/EDR and industrial water treatment. Launch expected in **~1 year**. - **Export Strength & Partnerships:** - **Key Partner**: Croll-Reynolds Co Inc (USA), through whom Mazda exports high-margin products like surface condensers, feedwater heaters, and evaporators to the US, UK, and Germany. - Over **80% of engineering revenue comes from exports**, with growing interest to shift manufacturing from China to India due to **superior quality, delivery timelines, and technical support**. - Engineers are dispatched globally (e.g., Brazil, Australia) for commissioning, reinforcing after-sales advantage. - **Growth Drivers & Challenges:** - **Order Book (Sep 2024)**: ₹115–116 crores, including: - ₹70 cr – Domestic vacuum systems - ₹34 cr – Multi-effect evaporators - ₹7 cr – Croll-Reynolds exports - ₹3.5 cr – Air pollution control - Sales delayed in early FY2024–25 due to **client payment issues and boiler maintenance setbacks**, but full-year performance expected to **match prior year**. - Facing rising competition from local and international entrants (e.g., Newfield, Alfa Laval, GEA), but maintains edge through **quality, reliability, and innovation**. --- #### **2. Food Division – Growing FMCG Presence** Led by **Mrs. Shanaya Mody Khatua (Promoter & Whole-Time Director)**, the Food Division is export-oriented and managed from the UK for strategic access to **Middle Eastern and African markets**. - **Financials & Growth:** - Revenue grew from **₹25.23 crore (2021)** to **₹36.60 crore (2025)** – **CAGR of 11.26%**. - Surpassed ₹30 crore in sales (Aug 2024), though margins remain under pressure due to recent CAPEX depreciation. - Operates from an **automated facility launched in 2022**, enabling compliance with international food safety standards. - **Key Brands & Products:** - **B-Cool**: Flagship brand of **flavoured instant drink powders**, now available in **over 10 countries**, especially in **Middle East and Africa**. - Currently being expanded into **domestic Indian market** via phased rollout. - **Soup Range**: Launched in 2022 with three variants; now generating steady sales. Additional variants planned. - **Ready-to-Eat (RTE) Segment**: New product line launched (by early 2025), supported by a dedicated distribution network in Gujarat. - **Instant Snacks**: Two new products in development, planned for mid-2025. - **Market Trends & Strategy:** - Global flavoured instant drinks market: **$75 billion in 2024**, projected to grow **5% in 2025**. - India’s FMCG sector is expanding due to **urbanization, rising incomes, and changing lifestyles**. - Focus on **natural flavouring essences** (vs synthetic) to meet consumer demand for cleaner ingredients. - Distribution model: Using **super stockists and distributor networks** in Gujarat, with plans to replicate across India. - Online presence: Selling via multiple e-commerce platforms. --- ### **Strategic Initiatives & Future Outlook** - **R&D & Innovation:** - Heavy investment in developing **proprietary, non-chemical technologies**. - R&D focus on **water treatment, energy efficiency, pollution control, and sustainable food production**. - Dedicated teams formed for marketing new products like Smart Rod, which require different go-to-market strategies than traditional equipment. - **Capacity & Expansion:** - Full-scale production achieved post-2023 expansion. - Spare capacity available for new projects, especially in engineering and RTE foods. - Potential need for larger manufacturing facility beyond ₹250-crore revenue threshold. - **Marketing & Market Development:** - Enhanced visibility through **LinkedIn, technical content, and revamped website**. - Participates in key exhibitions (e.g., Cap Tech, The Edge), acquiring **10–15 new customers annually**. - Actively seeking local agents in **Malaysia and UAE** to boost export reach. - **Risk Management:** - Exposed to **raw material price volatility** (especially high-quality steel) and **geopolitical risks** in African and Middle Eastern markets. - Manages risks through **long-term customer relationships, innovation, and operational efficiency**. - Deliberate avoidance of **saturated markets** (e.g., hydrogen generation) to preserve margins and differentiation.