Key Financials Snapshot

TTM · Standalone · ₹ in Cr
Market Cap
₹81 Cr.
Stock P/E
14.3
P/B
1.4
Current Price
₹261
Book Value
₹ 186.2
Face Value
10
52W High
₹495
52W Low
₹ 150
Dividend Yield
—

Narmadesh BrassInds. Overview

Business

Narmadesh Brass Industries Ltd. is an Indian company primarily engaged in the manufacturing and trading of a wide range of brass products. Their core business involves sourcing raw materials (brass scrap, copper, zinc), processing them through various techniques like casting and extrusion, and producing semi-finished and finished brass items. Key products include Brass Ingots, Brass Billets, Brass Rods (round, hex, square), Brass Sections, Brass Hollow Rods, and other extruded brass parts. The company serves diverse industrial sectors such as electrical, hardware, sanitary, automotive, defense, and general engineering. They generate revenue by selling these manufactured and traded brass products to industrial clients, capitalizing on margins from their production and supply chain activities.

Revenue Mix

While specific revenue contribution percentages for each product type are not publicly detailed, the company's operations can be broadly segmented by its product offerings:

Brass Ingots & Billets: Used as raw materials for further processing or sold to other manufacturers.

Brass Rods: Manufactured in various shapes (round, hexagonal, square) for use in machining and component production.

Brass Sections & Hollow Rods: Specialized profiles and hollow tubes catering to specific industrial applications.

Other Extruded Brass Parts: Custom-engineered brass components as per client requirements.

The primary revenue drivers are the sales of these semi-finished brass products to industrial customers.

Industry

Narmadesh Brass Industries operates within India's "Metal - Non Ferrous" sector, specifically focusing on the brass segment. This industry is mature, often tied to industrial production, construction, and infrastructure development. The Indian brass manufacturing market is fragmented, comprising numerous small, medium, and a few larger organized players. Narmadesh Brass Industries is a specialized player with a significant product range within brass, positioning itself as a reliable supplier of high-quality brass components to various B2B customers. As a publicly listed company, it operates within the organized segment, competing on product quality, variety, and potentially cost-efficiency against both local and regional manufacturers.

MOAT

The brass manufacturing industry typically exhibits limited strong, durable moats akin to unique technology or powerful brands in consumer goods. Narmadesh Brass Industries' competitive advantages likely stem from:

Established Presence & Experience: Long-standing operations (since 1993, incorporated as Narmadesh Brass Industries Ltd. in 2008) foster deep industry knowledge and customer relationships.

Product Range & Customization: Ability to produce a wide variety of standard and custom brass shapes and alloys caters to diverse customer needs.

Operational Efficiency: Potential for cost leadership through efficient raw material procurement and manufacturing processes, which is crucial in a commodity-driven market.

Customer Trust: Building a reputation for consistent quality and timely delivery over years.

However, these advantages are generally not impregnable and can be challenged by new entrants or aggressive competitors.

Growth Drivers

Infrastructure Development: India's ongoing investment in infrastructure, construction, and smart cities drives demand for electrical, plumbing, and general engineering components that utilize brass.

Manufacturing Sector Growth: Expansion and modernization of various manufacturing industries (automotive, defense, consumer durables) increase the need for brass parts.

Product Diversification: Expansion into higher-value-added brass products, specialized alloys, or finished components could open new revenue streams.

Export Opportunities: Tapping into international markets for brass components, leveraging competitive manufacturing costs.

Technological Upgrades: Investing in advanced manufacturing techniques to improve efficiency, reduce waste, and enhance product quality.

Risks

Raw Material Price Volatility: Prices of copper and zinc, the primary constituents of brass, are highly volatile on international commodity markets, directly impacting the company's cost of goods and profitability.

Intense Competition: The fragmented nature of the brass industry leads to price pressures and competitive intensity from both organized and unorganized players.

Economic Slowdown: A downturn in the broader economy, especially in industrial production, construction, or manufacturing, can significantly reduce demand for brass products.

Foreign Exchange Fluctuations: Given potential imports of raw materials or exports of finished goods, adverse movements in foreign currency exchange rates can impact costs and revenues.

Regulatory Changes: Evolving environmental or industrial regulations could lead to increased compliance costs or operational restrictions.

Management & Ownership

Narmadesh Brass Industries Ltd. is a promoter-led company. Mr. Mahendrakumar B Shah serves as the Chairman and Managing Director, indicating a hands-on leadership approach by the founding family or individuals. As per public records, the promoter group holds a significant stake (typically in the range of 65-70%), which is common among Indian SMEs and indicates strong management control and alignment with long-term company performance. The balance of the shares is held by the public.

Outlook

Narmadesh Brass Industries operates in a fundamental yet cyclical sector, poised to benefit from India's long-term industrialization and infrastructure growth. Its established presence and diverse product portfolio provide a solid foundation. The company's future performance will largely depend on its ability to effectively manage raw material price volatility, maintain operational efficiency, and navigate intense market competition. While it stands to gain from a growing economy, its profitability remains susceptible to external commodity price movements and demand fluctuations in the industrial sectors it serves.

Narmadesh BrassInds. Share Price

Live · BSE · Inception: 2023
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Standalone · annual

Narmadesh BrassInds. Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Narmadesh BrassInds. Profit & Loss

#(Fig in Cr.) Mar 2024 Mar 2025 TTM
Net Sales 79 88
Other Income 0 0
Total Income 79 88
Total Expenditure 68 79
Operating Profit 11 9
Interest 1 1
Depreciation 1 1
Exceptional Income / Expenses 0 0
Profit Before Tax 10 7
Provision for Tax 3 1
Profit After Tax 7 6
Adjustments 0 0
Profit After Adjustments 7 6
Adjusted Earnings Per Share 35.5 28.3

Narmadesh BrassInds. Balance Sheet

#(Fig in Cr.) Mar 2024 Mar 2025
Shareholder's Funds 9 15
Minority's Interest 0 0
Borrowings 1 1
Other Non-Current Liabilities 6 6
Total Current Liabilities 31 38
Total Liabilities 47 60
Fixed Assets 11 14
Other Non-Current Assets 0 0
Total Current Assets 36 45
Total Assets 47 60

Narmadesh BrassInds. Cash Flow

#(Fig in Cr.) Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 2
Cash Flow from Operating Activities -8 1
Cash Flow from Investing Activities -4 -4
Cash Flow from Financing Activities 14 1
Net Cash Inflow / Outflow 2 -2
Closing Cash & Cash Equivalent 2 0

Narmadesh BrassInds. Ratios

# Mar 2024 Mar 2025
Earnings Per Share (Rs) 35.48 28.33
CEPS(Rs) 39.2 32.1
DPS(Rs) 0 0
Book NAV/Share(Rs) 44.85 73.18
Core EBITDA Margin(%) 14.26 10.22
EBIT Margin(%) 13.54 9.74
Pre Tax Margin(%) 12.27 8.05
PAT Margin (%) 9 6.46
Cash Profit Margin (%) 9.94 7.32
ROA(%) 15.2 10.66
ROE(%) 79.11 48.01
ROCE(%) 34.02 24.14
Receivable days 31.91 45.47
Inventory Days 71.15 72.17
Payable days 17.22 23.11
PER(x) 0 0
Price/Book(x) 0 0
Dividend Yield(%) 0 0
EV/Net Sales(x) 0.28 0.3
EV/Core EBITDA(x) 1.94 2.87
Net Sales Growth(%) 0 11.2
EBIT Growth(%) 0 -20.03
PAT Growth(%) 0 -20.15
EPS Growth(%) 0 -20.15
Debt/Equity(x) 2.5 1.69
Current Ratio(x) 1.16 1.19
Quick Ratio(x) 0.66 0.68
Interest Cover(x) 10.62 5.78
Total Debt/Mcap(x) 0 0

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +11% — — —
Operating Profit CAGR -18% — — —
PAT CAGR -14% — — —
Share Price CAGR — — — —
ROE Average +48% +64% +64% +64%
ROCE Average +24% +29% +29% +29%

Narmadesh BrassInds. Shareholding Pattern

Latest · Mar 2026
100% held
Promoters 71.84 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 28.16 %
# Dec 2025 Jan 2026 Mar 2026
Promoter 071.8471.84
FII 000
DII 01.280
Public 026.8828.16
Others 000
Total 100100100

Narmadesh BrassInds. Peer Comparison

Metal - Non Ferrous Edit Columns

Narmadesh BrassInds. Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Narmadesh BrassInds. Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 64%

Cons

    0
  • Debtor days have increased from 17.22 to 23.11days.
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