Narmadesh Brass Industries Limited is engaged in the manufacturing of a wide range of brass products for domestic and export markets. The company earns revenue through the sale of brass billets, rods, valves, sanitary fittings, and customized brass components. These products are used across agriculture, plumbing, construction, automotive, and industrial applications. Revenue is primarily generated through bulk orders from OEMs and industrial customers.

The Company is led by Promoter, i.e.,M/s. Sprayking Limited, Mr. Hitesh Dudhagara, Mrs. Ronak Dudhagara and Mr. Krish Dudhagara

The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 3,421.25 Lakh, ₹ 8,805.02 Lakh, ₹ 7,906.11 Lakh, and ₹ 6,009.21 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 624.14 Lakh, ₹ 933.58 Lakh, ₹ 1,140.74 Lakh, and ₹ 213.36 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 401.16 Lakh, ₹ 572.30 Lakh, ₹ 709.61 Lakh, and ₹ 89.37 Lakh, respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue  EPS of ₹ 26.23 and post-issue EPS of ₹ 18.46 for FY25. The pre-issue P/E ratio is 19.63x,while the post-issue P/E ratio is 27.90x against the Industry P/E ratio is 13.38 The company's ROE for FY25 is 49.99% and RoNW is 49.99% The Annualised EPS is ₹ 25.87x and P/E is 19.90x.  These metrics suggest that the IPO is Fully priced.

 
The Grey Market Premium (GMP) of Narmadesh Brass Industries showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend  Investors to Avoid to the Narmadesh Brass Industries