---
title: "Brushman (India) Ltd (590061) — Share Price, Financials & Analysis"
symbol: "590061"
company: "Brushman (India) Ltd"
canonical: "https://tapetide.com/stocks/590061"
isin: "INE357C01012"
bse_code: "590061"
generated_at: "2026-10-13T11:01:00.606Z"
---

# Brushman (India) Ltd (590061)

Canonical page: https://tapetide.com/stocks/590061

## Company

- **BSE Code:** 590061
- **ISIN:** INE357C01012
- **Stock Type:** EQUITY
- **Listed Since:** 2006-10-18
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** brushmanindia.com

## About

Brushman (India) Limited, incorporated in India, Listed on the Bombay Stock exchange Limited, the company is engaged in manufacturing of paint brushes.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 0.12 times its book value

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -15.9% over last 3 years.
- Contingent liabilities of Rs.5.51 Cr.
- Company might be capitalizing the interest cost
- Company has high debtors of 635 days.
- Working capital days have increased from 634 days to 1,105 days

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | 32% | — |
| revenue growth | -95% | -22% |

## Financial Statements

### Quarterly Results

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

| Item | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.79 | 0.41 | 0.38 | 0.66 | 0.67 | 0.85 | 0.28 | 0.19 | 0.1 | 0 | 0 | 0 |
| Expenses | 1.17 | 0.87 | 0.89 | 1.86 | 1.09 | 1.25 | 0.69 | 2.8 | 2.5 | 0.02 | 0.38 | 0 |
| Operating Profit | -0.38 | -0.46 | -0.51 | -1.2 | -0.42 | -0.4 | -0.41 | -2.61 | -2.4 | -0.02 | -0.38 | 0 |
| OPM % | -48.1 | -112.2 | -134.21 | -181.82 | -62.69 | -47.06 | -146.43 | -1373.68 | -2400 | — | — | — |
| Other Income | 0.49 | 0.46 | 0.45 | 0.45 | 0.47 | 0.46 | 0.45 | 0.48 | 0.45 | 0.45 | 0.45 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0.31 | 0.31 | 0.31 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.28 | 0.21 | 0.2 | 0 |
| Profit before tax | -0.2 | -0.31 | -0.37 | -1.03 | -0.23 | -0.22 | -0.24 | -2.41 | -2.23 | 0.22 | -0.13 | 0 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -0.2 | -0.31 | -0.37 | -1.03 | -0.23 | -0.22 | -0.25 | -2.41 | -2.23 | 0.23 | -0.13 | 0 |
| EPS in Rs | -0.14 | -0.21 | -0.25 | -0.7 | -0.16 | -0.15 | -0.17 | -1.63 | -1.51 | 0.16 | -0.09 | 0 |

### Profit & Loss

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 | TTM |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 25.67 | 51.35 | 71.62 | 62.29 | 24.11 | 0.1 |
| Expenses | 23.36 | 41.34 | 57.51 | 61.34 | 29.11 | 2.9 |
| Operating Profit | 2.31 | 10.01 | 14.11 | 0.95 | -5 | -2.8 |
| OPM % | 9 | 19.49 | 19.7 | 1.53 | -20.74 | -2800 |
| Other Income | 0.05 | 0.01 | 0.16 | -7.54 | -9.22 | 1.35 |
| Interest | 1.14 | 2.65 | 6.78 | 10.62 | 5.47 | 0 |
| Depreciation | 0.29 | 0.58 | 1.08 | 1.55 | 1.54 | 0.69 |
| Profit before tax | 0.93 | 6.79 | 6.41 | -18.76 | -21.23 | -2.14 |
| Tax % | 39.78 | 37.11 | 25.74 | -3.68 | 0 | — |
| Net Profit | 0.56 | 4.27 | 4.76 | -18.07 | -21.23 | -2.13 |
| EPS in Rs | 0.52 | 3.94 | 4.39 | -12.24 | -14.38 | -1.44 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 10.85 | 10.85 | 10.85 | 14.76 | 14.76 |
| Reserves | 7.1 | 11.49 | 20.46 | 30.74 | 7.28 |
| Borrowings | 8.42 | 37.12 | 58.23 | 137.54 | 138.45 |
| Other Liabilities | 2.96 | 9.65 | 12.75 | 17.27 | 20.12 |
| Total Liabilities | 29.33 | 69.11 | 102.29 | 200.31 | 180.61 |
| Fixed Assets | 6.4 | 10.14 | 27.47 | 29.45 | 27.68 |
| CWIP | 0.2 | 9.48 | 3.75 | 64.11 | 57.46 |
| Investments | 0.92 | 1.82 | 2.07 | 2.07 | 2.07 |
| Other Assets | 21.81 | 47.67 | 69 | 104.68 | 93.4 |
| Total Assets | 29.33 | 69.11 | 102.29 | 200.31 | 180.61 |

### Cash Flow

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

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -7.1 | -13.73 | — | -49.65 | -9.27 |
| Cash from Investing Activity | -4.91 | -14.5 | — | -55.23 | 10.22 |
| Cash from Financing Activity | 12.1 | 28.77 | — | 105.2 | -1.39 |
| Net Cash Flow | 0.09 | 0.54 | — | 0.32 | -0.44 |
| Free Cash Flow | -12.05 | -27.33 | — | -105.1 | -0.18 |
| CFO/OP | -305 | -133 | — | -5071 | 76 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Debtor Days | 128.54 | 113.66 | 107.13 | 224.66 | 634.78 |
| Inventory Days | 152.47 | 310.51 | 334.58 | 312.9 | 458.38 |
| Days Payable | 11.53 | 25.58 | 9.47 | 33.64 | 56.51 |
| Cash Conversion Cycle | 269.48 | 398.59 | 432.23 | 503.92 | 1036.64 |
| Working Capital Days | 264.9 | 267.69 | 288.1 | 507.92 | 1104.99 |
| ROCE % | — | 22 | 17.7 | 0.2 | -3.12 |

## Shareholding Pattern

### annual

| Category | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- |
| Promoters | 28% | 28% | 27.94% | 27.94% | 27.89% |
| FIIs | 6.25% | 4.45% | 1.62% | 2.48% | 3.56% |
| DIIs | 44.16% | 8.74% | 2.38% | 1.81% | 2.53% |
| Government | 0% | 0% | 0% | 0.01% | 0.01% |
| Public | 21.59% | 58.8% | 68.07% | 67.77% | 66.01% |
| No. of Shareholders | 76651 | 67574 | 79447 | 87149 | 84391 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 28% | 27.99% | 27.99% | 27.99% | 27.94% | 27.94% | 27.94% | 27.94% | 27.94% | 27.94% | 27.89% | 27.89% |
| FIIs | 4.45% | 4.51% | 5.44% | 6.67% | 1.62% | 1.07% | 0.97% | 1.41% | 2.48% | 2.1% | 2.9% | 3.56% |
| DIIs | 8.74% | 6.43% | 4.05% | 3.6% | 2.38% | 3.23% | 3.3% | 1.6% | 1.81% | 1.95% | 1.93% | 2.53% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
| Public | 58.8% | 61.05% | 62.52% | 61.72% | 68.07% | 67.77% | 67.79% | 69.04% | 67.77% | 68.01% | 67.27% | 66.01% |
| No. of Shareholders | 67574 | 67966 | 73718 | 75395 | 79447 | 82678 | 84840 | 86625 | 87149 | 90747 | 87971 | 84391 |

## Technical Indicators

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

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 8 / 1 / 10

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 1.44 | Sell |
| EMA (10) | 1.41 | Sell |
| SMA (20) | 1.66 | Sell |
| EMA (20) | 1.55 | Sell |
| SMA (50) | 1.65 | Sell |
| EMA (50) | 1.56 | Sell |
| SMA (100) | 1.31 | Sell |
| EMA (100) | 1.38 | Sell |
| SMA (200) | 0.99 | Buy |
| EMA (200) | 1.12 | Buy |

### Oscillators — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 10.69 | Buy |
| MACD (12,26,9) | -0.13 | Sell |
| Stochastic (14,3,3) | 0 | Buy |
| ADX (14) | 66.32 | Buy |
| Williams %R (14) | -100 | Buy |
| ATR (14) | 0.05 | High Volatility |
| ROC (12) | -37.5 | Sell |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 8.79 | Buy |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-07 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachLive/f95e939f-7734-4b38-bc95-9a4cd16b78ab.pdf) |
| 2026-02-27 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/12733034-6f48-4b3f-b0de-5fbfa3aee3eb.pdf) |
| 2026-02-27 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8baa9cea-81ee-4074-a393-6ad8c9665f32.pdf) |
| 2026-02-20 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6c77f72e-26ba-4256-a3bb-40d9fb40fd15.pdf) |
| 2026-02-16 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3628e67e-f5ee-40d1-aa06-0a6b2f4e6424.pdf) |
| 2026-02-16 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2dd6dd80-0a62-48da-b03d-deb3ccfc912a.pdf) |
| 2026-02-16 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/xml-data/corpfiling/AttachHis/282aa89e-702a-4d48-b683-af751d512f9a.pdf) |
| 2026-02-15 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/24654ada-be2d-44b8-bc4c-2feb4509864e.pdf) |
| 2026-02-14 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/xml-data/corpfiling/AttachLive/5fa8c581-ec1e-4429-a9f7-bee1a316acb5.pdf) |
| 2016-05-14 | [Standalone Financial Results for March 31, 2016](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=16BC5D43_8AB2_4670_A7AF_22473448A283_170114.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d3bc57f2-18d0-49a5-b3fa-d16eb6de4bff.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/69adefc5-9608-4647-87f7-afbd1f457f16.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5f0e7bfd-a47e-407c-916c-9508562a11bc.pdf) |
| 2022 | [Financial Year 2022](https://archives.nseindia.com/annual_reports/AR_21480_SHRIRAMPPS_2021_2022_06092022154123.zip) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/543419/76566543419.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6c77f72e-26ba-4256-a3bb-40d9fb40fd15.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/061d7c22-f129-46e3-9b7e-a11bec9bb62a.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/791fb04e-5489-4160-a6e9-597552bdab4e.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f5308757-b47b-4502-b9e4-543e8d08401e.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a790237b-8c25-47af-b500-ff3b2a44519f.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ef441a8a-7907-4f3f-a3b6-8ee07d427f47.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/37330518-6fdc-4fb6-919e-29eb8f1b6fc1.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fee55098-6f64-4a8c-8da2-883e3c54f165.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4dc40813-5366-4b48-a2fc-c42553756408.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fdb404b2-519c-43aa-ba46-3c05eae4776c.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-10-28 | Credit rating update — CRISIL |
| 2024-08-09 | Credit rating update — CRISIL |
| 2024-07-30 | Credit rating update — CRISIL |
| 2023-12-21 | Credit rating update — CRISIL |
| 2023-09-28 | Credit rating update — CARE Ratings |
| 2023-03-16 | Credit rating update — CRISIL |

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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 2026-10-13T11:01:00.606Z.