Narmadesh Brass Industries Ltd IPO
Non Ferrous Metals
Price Band
₹515 – ₹515
Lot Size
240
Minimum Bid Quantity
480
Minimum Investment
₹247200
Issue Size
₹44.87Cr
Opens
2026-01-12
Closes
2026-01-16
Listing
21-01-2026
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE0S1B01014
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Narmadesh Brass Industries Limited manufactures a diverse range of brass products for both domestic and international markets. The company manufactures brass billets, brass rods, brass components, brass sanitary and plumbing fittings, and brass valves. In addition to standard product manufacturing, it also provides casting and forging services related to brass components. The company operates through a single manufacturing facility located at Jamnagar, Gujarat. The company says the manufacturing activities are carried out under an integrated setup where all stages, including production, quality inspection, and dispatch, are undertaken within the same facility.
Pros
- • The company claims to operate a single, integrated manufacturing facility with in-house production, quality control, and dispatch. It has installed capacities of 4,320 MT per annum each for brass rods and brass billets, and 1,600 MT per annum for brass components.
- • The company claims that the manufacturing facility is located in proximity to raw material suppliers, customers, transport infrastructure, and skilled labour. They also claim that the location supports efficient logistics, availability of utilities, and operational cost management, contributing to smoother manufacturing and distribution operations.
- • The company’s manufacturing facility is ISO 9001:2015 certified for quality management systems.
Cons
- • A significant portion of the company’s revenue is derived from brass rods and brass billets. Revenue from these products aggregated to Rs 16.99 crore (51.08 percent) of the total revenue in the period ended September 30, 2025, Rs 59.93 crore (69.14 percent) in FY25, Rs 36.65 crore (46.46 percent) in FY24, and Rs 32.64 crore (54.43 percent) in FY23. Any decline in demand, pricing pressure, or disruption in the manufacturing of these products could materially affect revenue stability, margins, and overall financial performance.
- • The company relies on a concentrated supplier base for sourcing key raw materials, which increases supply-side risk. Purchases from the top 10 suppliers aggregated to Rs 22.11 crore (77.81 percent) of total purchases in the period ended September 30, 2025, Rs 52.91 crore (67.69 percent) in FY25, Rs 50.28 crore (73.95 percent) in FY24 and Rs 41.98 crore (80.26 percent) in FY23. Any disruption in supply, deterioration in supplier relationships, price volatility, or inability of suppliers to meet quality or delivery requirements could adversely impact production continuity, cost structure, and profitability.
- • The company’s revenues are significantly dependent on a limited number of customers, which may affect revenue predictability. Revenue from the top 10 customers was Rs 28.91 crore (84.59 percent) in the period ended September 30, 2025, Rs 76.83 crore (87.59 percent) in FY25, Rs 63.52 crore (80.52 percent) in FY24, and Rs 48.69 crore (81.20 percent) in FY23. The loss of any major customer, a fall in order volumes, or delayed payments could materially impact the company’s business operations, cash flows, and financial performance.
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