Maxwell Engineering Solutions is a precision engineering company that manufactures, trades and services critical components for underwater pelletizing systems. Its products include pelletizing die plates, blades and knives, blade holders or cutter hubs, tapped driving bushes and other spares. The company also provides die-plate refurbishment and repair, intermediary support and management consulting, and selectively trades complementary components. The company offers customised and white-label manufacturing and uses job workers for selected machining, fabrication, welding, painting, heat treatment, hardening and coating processes. For FY26, manufacturing contributed ₹18.50 crore or 62.8% of revenue from operations, trading ₹5.33 crore or 18.1%, and services ₹5.61 crore or 19.1%. By product, pelletizing die plates contributed 55.4%, blades and knives 20.1%, refurbishment and repair 17.5%, other spares 3.8%, tapped driving bushes 1.6%, blade holders or cutter hubs 1.1%, and intermediary support and consulting 0.1%. The company moved manufacturing from its leased Makarpura unit to its owned Waghodia GIDC facility from July 1, 2025. For FY26, combined annual capacity and actual production were 800 and 649 new die plates, 250 and 144 refurbished die plates, 140 and 48 blade holders, 225 and 139 driving bushes, and 250,000 and 167,753 blades. The corresponding utilisation was 81%, 58%, 34%, 62% and 67%, respectively. Exports accounted for ₹24.95 crore or 84.7% of FY26 revenue from operations, while domestic sales were ₹4.50 crore or 15.2%. Germany contributed 23.1% of total FY26 revenue, followed by the United States at 14.8%, the Netherlands at 14.1%, Austria at 9.9% and Israel at 8.3%. The company serves customers across 25 countries and more than 10 Indian states and union territories. Export contribution increased from 80.3% in FY24 to 82.4% in FY25 and 84.7% in FY26.