Abstract: A flow adjusting apparatus having a pair of discs can be used for a drilling or production choke or valve. A stationary disc fixedly positions in a flow passage and defines at least one first bore permitting fluid flow. A rotatable disc positions in the flow passage between the stationary disc and the distal end of a stem. The rotatable disc defines at least one second bore permitting fluid flow. Rotation of the rotatable disc adjusts relative orientation between the first and second bores and adjusts fluid flow through the first and second bores. The stationary disc has a greater length than the rotatable disc to control exiting fluid flow beyond the discs and reduce erosion. In addition, the rotatable disc's bore defines a tapered relief at the disc's front face to control inlet of fluid flow and reduce erosion.