---
title: "Narmadesh Brass Industries Ltd (544680) — Share Price, Financials & Analysis"
symbol: "544680"
company: "Narmadesh Brass Industries Ltd"
canonical: "https://tapetide.com/stocks/544680"
isin: "INE0S1B01014"
nse_symbol: "NARMADESHBRASSINDUSTRIESLTD"
bse_code: "544680"
sector: "Capital Goods"
industry: "Industrial Products"
market_cap_cr: 108.2
generated_at: "2026-09-13T19:39:18.823Z"
---

# Narmadesh Brass Industries Ltd (544680)

Canonical page: https://tapetide.com/stocks/544680

## Company

- **NSE Symbol:** NARMADESHBRASSINDUSTRIESLTD
- **BSE Code:** 544680
- **ISIN:** INE0S1B01014
- **Sector:** Capital Goods
- **Industry:** Industrial Products
- **Macro Sector:** Industrials
- **Stock Type:** EQUITY
- **Listed Since:** 2026-01-21
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** narmadeshbrass.com

## About

Narmadesh Brass Industries Ltd. is a modern brass manufacturing company based in Jamnagar, Gujarat.[1]

## Latest Price

## Key Fundamentals

Observed at 2026-09-11T04:33:46.206064Z.

- **Market Cap:** ₹108.2 Cr
- **Classification:** SME
- **P/E (reported):** 30.5
- **Book Value:** ₹171.73
- **Price to Book:** 2.03
- **Dividend Yield:** 0%
- **ROE:** 38.71%
- **ROCE:** 39.34%
- **Debt to Equity:** 0.2
- **Revenue (yearly):** ₹95.22 Cr
- **Net Income:** ₹3.47 Cr
- **EBITDA:** ₹4.58 Cr
- **52-Week High:** ₹495
- **52-Week Low:** ₹150
- **RSI (14):** 15.09

## Key Insights

### Strengths

- Company has reduced debt.
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.3%

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Tax rate seems low
- Earnings include an other income of Rs.1.98 Cr.
- Working capital days have increased from 62.3 days to 156 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 114.29% | 139.65% | 241.25% |
| ebitda margin growth | -55.27% | -67.36% | 6.32% |
| net income growth | -39.12% | 57% | 247% |
| revenue growth | 8.08% | 17% | 16.43% |
| roce | -41.98% | 140.46% | 39.63% |
| roe | -51.07% | 42.76% | 269.72% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2025 | Mar 2026 |
| --- | --- | --- |
| Sales | 33.27 | 61.95 |
| Expenses | 28.03 | 62.6 |
| Operating Profit | 5.24 | -0.65 |
| OPM % | 15.75 | -1.05 |
| Other Income | 0.95 | 1.05 |
| Interest | 0.81 | 0.76 |
| Depreciation | 0.42 | 0.6 |
| Profit before tax | 4.96 | -0.96 |
| Tax % | 13.1 | -20.83 |
| Net Profit | 4.32 | -0.76 |
| EPS in Rs | 18 | -2.45 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 44.27 | 59.96 | 78.88 | 87.79 | 95.22 |
| Expenses | 42.47 | 57.96 | 67.62 | 78.75 | 90.62 |
| Operating Profit | 1.8 | 2 | 11.26 | 9.04 | 4.6 |
| OPM % | 4.07 | 3.34 | 14.27 | 10.3 | 4.83 |
| Other Income | 0.18 | 0.13 | 0.17 | 0.26 | 1.98 |
| Interest | 0.3 | 0.46 | 1.01 | 1.48 | 1.56 |
| Depreciation | 0.35 | 0.45 | 0.74 | 0.75 | 1.02 |
| Profit before tax | 1.33 | 1.22 | 9.68 | 7.07 | 4 |
| Tax % | 23.31 | 23.77 | 26.65 | 28.15 | 11.25 |
| Net Profit | 1.02 | 0.93 | 7.1 | 5.07 | 3.55 |
| EPS in Rs | — | — | 35.5 | 25.35 | 11.45 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 0 | 0 | 2 | 2 | 3.11 |
| Reserves | 3.32 | 8.92 | 6.97 | 8.25 | 50.15 |
| Borrowings | 4.84 | 5.94 | 22.98 | 28.75 | 10.78 |
| Other Liabilities | 16.52 | 7.78 | 14.73 | 18.39 | 12.09 |
| Total Liabilities | 24.68 | 22.64 | 46.68 | 57.39 | 76.13 |
| Fixed Assets | 5.29 | 7.29 | 10.81 | 12.47 | 15.95 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.06 | 0.06 | 0 | 0 | 0 |
| Other Assets | 19.33 | 15.29 | 35.87 | 44.92 | 60.18 |
| Total Assets | 24.68 | 22.64 | 46.68 | 57.39 | 76.13 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2.55 | -2.85 | -7.91 | 6.06 | -14.22 |
| Cash from Investing Activity | -0.86 | -2.58 | -3.6 | -3.94 | -5.65 |
| Cash from Financing Activity | -1.65 | 5.37 | 13.76 | -4.36 | 19.93 |
| Net Cash Flow | 0.04 | -0.06 | 2.25 | -2.24 | 0.06 |
| Free Cash Flow | 2.11 | -5.3 | -11.71 | 1.07 | -18.74 |
| CFO/OP | 153 | -134 | -50 | 82 | -298 |

### Ratios

| Item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 28.03 | 13.57 | 31.93 | 62.2 | 46.8 |
| Inventory Days | 119.03 | 70.39 | 88.91 | 94.96 | 140.21 |
| Days Payable | 150.34 | 39.48 | 17.23 | 52.57 | 27.42 |
| Cash Conversion Cycle | -3.29 | 44.49 | 103.61 | 104.59 | 159.59 |
| Working Capital Days | -11.96 | 12.97 | 11.71 | 18.96 | 156.2 |
| ROCE % | — | 14.6 | 45.72 | 24.1 | 10.83 |

## Shareholding Pattern

### Quarterly

| Category | Dec 2025 | Mar 2026 |
| --- | --- | --- |
| Promoters | 71.84% | 71.84% |
| FIIs | 0% | 0% |
| DIIs | 1.28% | 0% |
| Government | 0% | 0% |
| Public | 24.55% | 25.14% |
| Others | 2.32% | 3.02% |
| No. of Shareholders | 661 | 628 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 10 / 6 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 324.55 | Buy |
| EMA (10) | 325.31 | Buy |
| SMA (20) | 313.73 | Buy |
| EMA (20) | 320.26 | Buy |
| SMA (50) | 330.47 | Buy |
| EMA (50) | 313.14 | Buy |
| SMA (100) | 274.29 | Buy |
| EMA (100) | 283.27 | Buy |
| SMA (200) | — | Neutral |
| EMA (200) | — | Neutral |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 63.85 | Neutral |
| MACD (12,26,9) | 4.43 | Buy |
| Stochastic (14,3,3) | 89.36 | Sell |
| ADX (14) | 12.35 | Neutral |
| Williams %R (14) | 0 | Sell |
| ATR (14) | 11.23 | High Volatility |
| ROC (12) | 18.69 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 69.34 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-04 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ad0ae8e1-610a-4f53-9c32-4ddf8f402469.pdf) |
| 2026-09-03 | [Notice Of 1St AGM Post IPO To Be Held On September 29 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a74ca3bc-23f7-4f03-92d7-eb9194b4bfda.pdf) |
| 2026-09-03 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=20b030e6-f819-4647-8cbb-eee18a517e42.pdf) |
| 2026-09-03 | [Intimation Of Book Closure Pursuant To Regulation 42 Of The Securities & Exchange Board Of India (Listing Obligation And Disclosure Requirements) 2015](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e96caf2b-4964-424d-b499-90224549f735.pdf) |
| 2026-09-02 | [Board Meeting Outcome for Outcome Of Board Meeting Held On September 02 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3b0872de-19bb-473e-88b0-2559b1d7a9b5.pdf) |
| 2026-09-02 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d33a6c80-8222-4cb8-bb6c-c636f1ee1240.pdf) |
| 2026-07-13 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8b35ebe2-326b-4376-b2f1-59de385cc2b1.pdf) |
| 2026-05-25 | [Board Meeting Outcome for Outcome Of Board Meeting Held On Monday May 25 2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=18e66af2-3e21-4c31-aa3b-e81aedefae64.pdf) |
| 2026-05-25 | [Statement Of Deviation (S) Or Variation(S) For The Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=40d96d0d-8043-486e-857e-8ad178670259.pdf) |
| 2026-05-19 | [Board Meeting Intimation for Intimation Of Board Meeting For Consideration And Approval Of Audited Financial Results (Standalone) For Half Year And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=830b1a6d-000b-420e-8bb1-ade184926c1d.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-25 | [Results For The Financial Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b50af7fc-983f-462e-9d35-17ab02d44c13.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 9h - Company says no price-sensitive announcement pending; share price movement is market-driven. | [Announcement Under Regulation 30 (LODR) Update (Reply To Clarification On Price Movement Sought By BSE Limited) 9h - Company says no price-sensitive announcement pending; share price movement is market-driven.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/271690f9-0211-4085-8ed0-f0eaaca8ebb1.pdf) |
| 9 Apr - Trading window closed from 1 April 2026 until 48 hours after FY26 audited results. | [Closure of Trading Window 9 Apr - Trading window closed from 1 April 2026 until 48 hours after FY26 audited results.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ff8f5129-13db-4a3b-af35-1bb10d49d29a.pdf) |
| 31 Jan 2020 - Board meeting scheduled for financial results approval. | [Board Meeting Intimation for Approval Of Un-Audited Financial Result For The Quarter Ended 31St December, 2019 31 Jan 2020 - Board meeting scheduled for financial results approval.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5c945b89-3e7c-496e-ab98-e36efe7df1ac.pdf) |
| 24 Jun 2022 - Resolution Professional of Eskay KnIT India Ltd has informed regarding initiation of Corporate Insolvency Resolution Process (CIRP) and appointment of Interim Resolution Professional (IRP). | [Initiation of Corporate Insolvency Resolution Process (CIRP) & Appointment of IRP 24 Jun 2022 - Resolution Professional of Eskay KnIT India Ltd has informed regarding initiation of Corporate Insolvency Resolution Process (CIRP) and appointment of Interim Resolution Professional (IRP).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1C559983-884B-4CAD-8DC8-011E36769184-165301.pdf) |
| 20 Apr - Company says no price-sensitive announcement pending; share price movement is market-driven. | [Announcement Under Regulation 30 (LODR) Update (Reply To Clarification On Price Movement Sought By BSE Limited) 20 Apr - Company says no price-sensitive announcement pending; share price movement is market-driven.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/271690f9-0211-4085-8ed0-f0eaaca8ebb1.pdf) |
| 13 Feb - Doshi family acquired 212,400 shares (6.85%) via open market on Feb 12, 2026. | [Disclosures under Reg. 29(1) of SEBI (SAST) Regulations 2011 13 Feb - Doshi family acquired 212,400 shares (6.85%) via open market on Feb 12, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/F2C125C3_8F5B_4699_AEDC_194160F9BC0C_103117.pdf) |
| 13 Apr - Regulation 74(5) certificate for quarter ended March 31, 2026; no dematerialization or rematerialization requests. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018 13 Apr - Regulation 74(5) certificate for quarter ended March 31, 2026; no dematerialization or rematerialization requests.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7d7b6bef-e1e1-47f4-8cf5-9260874e59e2.pdf) |
| 13 Apr - Company confirms it is not a SEBI large corporate for FY2026-27. | [Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 13 Apr - Company confirms it is not a SEBI large corporate for FY2026-27.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5c66a399-afde-43f1-ad7e-e017474cc9d3.pdf) |
| 10 Feb - Reply to BSE: no undisclosed price-sensitive information; movement market-driven (10 Feb 2026). | [Announcement Under Regulation 30 (LODR) Update (Reply To Clarification On Price Movement Sought By BSE Limited) 10 Feb - Reply to BSE: no undisclosed price-sensitive information; movement market-driven (10 Feb 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6cfbb10c-50d1-47ac-9f1d-c4313ade6d48.pdf) |
| — | [Intimation of replacement of Resolution Professional 24 Jun 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/B63F0F3F-ECD8-4510-8221-9BDCA92697E6-171542.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180318.pdf) |
| from bse | [Financial Year 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180317.pdf) |
| from bse | [Financial Year 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180316.pdf) |
| from bse | [Financial Year 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180315.pdf) |
| from bse | [Financial Year 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180314.pdf) |
| from bse | [Financial Year 2013 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180313.pdf) |
| from bse | [Financial Year 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180312.pdf) |
| from bse | [Financial Year 2011 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180311.pdf) |
| from bse | [Financial Year 2010 from bse](https://www.bseindia.com/bseplus/AnnualReport/514118/5141180310.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:39:18.823Z.