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Narmadesh Brass Industries Ltd
Non Ferrous MetalsIPOSME
₹515 - 515
Narmada Brass Industries Limited manufactures brass products for domestic and international markets. Operating from an ISO 9001:2015 certified facility in Jamnagar, it produces billets, rods, and components, offering casting and forging services with a total annual capacity of 10,240 MT.
Lot240Min Invest₹2,47,200Face Value₹10Issue Size₹45 CrFresh Issue₹36 CrOffer for Sale₹9 CrListing Price₹495CMP₹261
Timeline
12 Jan
Bidding opens
16 Jan
Bidding closes
19 Jan
Allotment
20 Jan
Refund & demat credit
21 Jan
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹45 Cr0.09 Cr shares
Fresh Issue₹36 Cr
Offer for Sale₹9 Cr
Face Value₹10
Lot Size240 shares
ReservationNII 50% · RETAIL 50%
Application Sizes
Retail₹2,47,2001-1 lots
sNII₹2,47,200from 2 lots
bNII₹11,12,400from 9 lots
Managers & Registrar
Lead ManagerAryaman Financial Services Limited
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrHitesh DudhagaraPRMTR85,2004.39Ronak DudhagaraPRMTR85,2004.39Total1,70,4008.78
Shareholding
CategoryPre IPOPost IPOPromoter Group99.91%71.82%Public0.09%28.18%
Objects of the Issue
- Repayment/ prepayment, in full or in part, of certain outstanding borrowings
- Purchase of machinery and equipment
- Funding Working capital requirements
- General Corporate Purpose
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 44 | 60 | 79 | 88 | 95 |
| Operating ProfitCr | 2 | 2 | 11 | 9 | 5 |
| OPM% | 4.0 | 3.3 | 14.2 | 10.2 | 4.8 |
| PBTCr | 1 | 1 | 10 | 7 | 4 |
| PATCr | 1 | 1 | 7 | 6 | 4 |
| EPS | 5 | 5 | 35 | 28 | 11 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 2 | 2 | - |
| ReservesCr | 0 | 0 | 7 | 13 | - |
| BorrowingsCr | 5 | 6 | 23 | 26 | - |
| Total AssetsCr | 25 | 23 | 47 | 60 | - |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 3 | -3 | -8 | 1 | -14 |
| Investing Cash FlowCr | -1 | -3 | -4 | -4 | -6 |
| Financing Cash FlowCr | -2 | 5 | 14 | 1 | 20 |
| Net Cash FlowCr | 0 | 0 | 2 | -2 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Strategically located manufacturing facilities.
- Stringent quality control mechanism ensuring standardized product quality.
- Experienced Management team.
- High standard of product quality and customer service.
- In-house R&D, tool room and continuous new product developmentIn-house R&D, tool room and continuous new product development.
- Well-equipped manufacturing facility.
Strategies · as stated in the DRHP
- Expand our Product Range.
- Increasing Geographical Presence.
- Competitive Pricing.
- Global and Domestic Presence.
- Continue to develop client relationships and trust.
- To build-up a professional organization.
Risks · as stated in the DRHP
- Our Company has been recently incorporated thus we have limited operating history as a Company which may make it difficult for investors to evaluate our historical performance or future prospects.
- Our Company has negative cash flows from its operating and investing activities in the past years, details of which are given below. Sustained negative cash flow could impact on our growth and business.
- An increase in the prices of our basic raw materials i.e. Brass Scrap, Copper and Zinc will raise our manufacturing costs and could adversely affect our profitability.
- Under-utilization of our manufacturing capacities and an inability to effectively utilize our existing manufacturing capacities could have an adverse effect on our business, future prospects and future financial performance.
- We require high working capital for our smooth day to day operations of business and any discontinuance or our inability to acquire adequate working capital timely and on favourable terms at a future date, may have an adverse effect on our operations, profitability and growth prospects.
- Our business operates on a high volume-low margin model, which impacts our overall profitability.