### **Overview** Sprayking Limited (formerly *Sprayking Agro Equipment Limited*) is a publicly listed manufacturer and exporter of high-precision **brass forged and turned components**, headquartered in **Plot No. 4009-10, G.I.D.C. Phase-III, Dared, Jamnagar, Gujarat, India**—a region known as the “Brass City of India.” The company was incorporated in 2005 and transitioned from a private to a public limited company in 2016. It is listed on the **BSE SME segment under scrip code 540079**, where it holds a **unique distinction**: it is the **first and only company in the BSE SME category dedicated exclusively to 100% brass-based manufacturing**. Sprayking Limited rebranded in 2024–2025 to reflect a strategic shift beyond its original focus on agricultural equipment, now positioning itself as a diversified industrial player in **brass and non-metal components** serving global markets. --- ### **Business Segments & Product Portfolio** Sprayking’s core offerings include: - Brass forged and turned components - Agricultural sprayer parts, garden fittings - Extruded brass rods (including lead-free variants) - Transformer parts and customized copper/brass forgings - Plumbing and sanitary fittings (brass and non-metal) - Precision gas fittings for industrial use - Forged parts for sensors and electrical components In recent years, the company has **strategically diversified** into adjacent markets: 1. **Non-Metal Plumbing Products**: Launched in mid-2025, targeting export demand in the global plumbing sector. 2. **Gas Fittings**: Introduced in early 2025, expanding applications in agriculture, construction, and industrial systems. 3. **Casting Production**: Entered the casting market in 2024 with dedicated machinery to broaden its product reach. The company launched two new brands—**TPU-PLUMB** and **NAIK**—in 2024, both certified by the **South African Bureau of Standards (SABS)**, to strengthen foothold in African markets. --- ### **Geographic Presence & Client Base** Sprayking serves a **global clientele** across: - **USA, Europe, Canada, UAE, South Africa, Australia, and India** - Expanding into **Japan** through a strategic partnership with **Flobal Corporation**, a 100-year-old Japanese supplier of industrial piping components. South Africa remains one of the **largest export markets**, with ongoing sample orders evolving into commercial contracts. Contracts with Dubai-based entities destined for **China**, one of the fastest-growing industrial hubs, underscore its integration into key global supply chains. --- ### **Strategic Expansion & Operational Capabilities** #### **1. Facility Expansion & Vertical Integration (2023–2025)** - Acquired a **3,000 sq. meter manufacturing facility** in Jamnagar (leased), dedicated to brass and forging components. - Commissioned a **new foundry division** with a **monthly capacity of 200 tons of brass rods**, enhancing in-house production and scalability. - Fully **integrated solar-powered plant** covering scrap sorting, foundry, extrusion, forging, machining, polishing, testing, and packaging—promoting sustainability and cost-efficiency. #### **2. Subsidiary & Acquisition Strategy** - Acquired **51% stake in Narmada Brass Industries Limited** (now **Narmadesh Brass Industries Limited**) in mid-2023 for ₹5.10 crore. - Subsidiary has an **annual production capacity of 2,000 tons** of forged copper and brass goods. - Secured multiple major export orders via the subsidiary: - **$25 million** (Oct 2024) - **$5 million** (Dec 2024, Jun 2025) - **₹52 crore** (Jun 2025) - All destined for **China** via **Dubai-based clients**, solidifying its global supply chain role. - In May 2024, received **approval to raise capital via IPO** for **Narmadesh Brass Industries Limited**, aimed at funding innovation and future expansion. #### **3. Technology & Production Upgrades** - **May 2025**: Imported advanced **CNC, rotary transfer, and double-head CNC machines** from China (worth ₹35 million), increasing **daily output by 1 ton** and enhancing precision. - **Jun 2024**: Invested **₹10 million** in high-tech machinery to boost daily output to **8,000 units**, enabling entry into the **world-class brass valves market**. - **Sep 2024**: Imported finishing machinery (₹21.69 million) to improve product precision and efficiency. - **Aug 2024**: Invested ₹3.85 million to enter the **casting production** segment. These upgrades support **automated, high-volume, high-precision manufacturing**, allowing Sprayking to meet stringent international quality standards and tight delivery schedules. --- ### **R&D & Innovation** Sprayking operates a **state-of-the-art R&D facility** focused on: - Advancing **forging technologies and processes** - Developing **lead-free and high-precision components** - Supporting **customer-specific product development**, including sensor parts and electrical rods This innovation focus reinforces its status as a **regional industry leader in brass forging**. The company launched **five new products** in FY24, with ongoing R&D driving future revenue streams. --- ### **Financial & Order Highlights (2023–2025)** - **Oct 2024**: ₹40 million domestic order for brass rods. - **Jun 2025**: $5 million plating & finishing services order (with $1 million advance). - **Jul 2025**: ₹20 lakh (₹2 million) order for **60 MT of brass rods**. - **Feb 2024**: Pilot export order of ₹4 million for plumbing fittings. - **Aug 2023**: Repeat order of **₹135 million**; total purchase orders reached **₹600 million** by Jun 2023. - Strong **advance payment inflows** reflect high customer confidence and healthy cash flow. --- ### **Sustainability & Compliance** - Operates **eco-friendly, solar-powered facilities** - Recycles **copper alloy scrap** in production with **zero non-compliance notices** from the Pollution Control Board (as of Jul 2024) - Plans to add a **chrome plating plant** to enhance surface treatment offerings