Refractory Shapes
REFRACTORY NSE
Refractory Shapes
Industrial ProductsNSE: REFRACTORY Electrodes & Refractories
Key Fundamentals
SMEElectrodes & RefractoriesIndustrial ProductsMarket Cap
₹54.39 Cr
Volatility
Moderate
P/E Ratio
11.3
EBITDA
₹7.97 Cr
Return on Equity
13.24%
Debt to Equity
0.39
Book Value
₹23.16
52W High
₹61.2
52W Low
₹23.15
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Stock is trading at 1.13 times its book value
Weaknesses
1- Though the company is reporting repeated profits, it is not paying out dividend
Growth Rate
Revenue Growth
-4.62% lower than
3Y
Net Income Growth
-26.33% lower than
3Y
Cash Flow Change
142% higher than
3Y
ROE
-33.67% lower than
3Y
ROCE
-27.03% lower than
3Y
EBITDA Margin (Avg.)
-28.26% higher than
3Y
Quarterly Results
| Particulars | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 19.18 | 21.38 | 23.54 | 35.24 | 34.43 | 22.61 |
| Expenses | 13.85 | 20.34 | 18.56 | 29.92 | 27.02 | 22.04 |
| Operating Profit | 5.33 | 1.04 | 4.98 | 5.32 | 7.41 | 0.57 |
| OPM % | 27.79% | 4.86% | 21.16% | 15.1% | 21.52% | 2.52% |
| Other Income | 0.37 | 2.1 | 0.69 | 0.36 | 0.36 | 1.17 |
| Interest | 0.71 | 0.85 | 0.28 | 0.54 | 0.58 | 0.5 |
| Depreciation | 1.88 | 0.06 | 1.13 | 1.33 | 1.17 | 1.21 |
| PBT | 3.11 | 2.23 | 4.26 | 3.81 | 6.02 | 0.03 |
| Tax % | 25.08% | 24.22% | 26.06% | 24.15% | 25.08% | 0% |
| Net Profit | 2.33 | 1.83 | 3.15 | 3.11 | 4.64 | 0.15 |
| EPS in Rs | — | 1.16 | 1.44 | 1.43 | 2.13 | 0.07 |
Profit & Loss
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 37.97 | 40.36 | 58.69 | 57.04 |
| Expenses | 34.1 | 33.99 | 48.39 | 49.07 |
| Operating Profit | 3.87 | 6.37 | 10.3 | 7.97 |
| OPM % | 10.19% | 15.78% | 17.55% | 13.97% |
| Other Income | 0.86 | 2.61 | 1.05 | 1.53 |
| Interest | 1.08 | 1.56 | 0.82 | 1.07 |
| Depreciation | 1.06 | 1.94 | 2.46 | 2.39 |
| PBT | 2.59 | 5.48 | 8.07 | 6.04 |
| Tax % | 25.87% | 24.09% | 25.03% | 25% |
| Net Profit | 1.92 | 4.16 | 6.05 | 4.79 |
| EPS in Rs | — | 2.63 | 2.78 | 2.2 |
| Div. Payout % | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 0.1 | 15.8 | 21.8 | 21.8 |
| Reserves | 16.59 | 5.04 | 23.9 | 28.69 |
| Borrowings | 20.32 | 23.52 | 17.06 | 19.84 |
| Other Liabilities | 12.12 | 7.45 | 7.14 | 6.78 |
| Total Liabilities | 49.13 | 51.81 | 69.9 | 77.11 |
| Fixed Assets | 18.92 | 19.05 | 26.73 | 25.98 |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 6.24 | 6.37 | 6.58 | 6.85 |
| Other Assets | 23.97 | 26.39 | 36.59 | 44.28 |
| Total Assets | 49.13 | 51.81 | 69.9 | 77.11 |
Cash Flow
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Operating | 4.14 | -2.54 | 1.06 | 1.44 |
| Investing | -6.83 | -1.82 | -10.49 | -1.33 |
| Financing | 0.89 | 3.18 | 10.14 | 2.79 |
| Net Cash Flow | -1.79 | -1.18 | 0.71 | 2.9 |
| Free Cash Flow | -2.91 | -4.9 | -9.06 | -0.21 |
| CFO/OP | 127 | -36 | 33 | 40 |
Ratios
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Debtor Days | 73.73 | 62.85 | 78.92 | 73.4 |
| Inventory Days | 193 | 309 | 246 | 259 |
| Days Payable | 246 | 127 | 79.26 | 59.87 |
| Cash Conversion Cycle | 20.46 | 245 | 246 | 272 |
| Working Capital Days | -15.86 | 30.39 | 114 | 126 |
| ROCE % | — | 17.3% | 16.6% | 10.68% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Refractory Shapes insights
55 extracted metrics + investor summaries across FY23–FY26.
Documents
1
Resignation
9 Sep - Abhay Yatin Naik resigns as Independent Director effective 03 September 2026. 9 Sep - Abhay Yatin Naik resigns as Independent Director effective 03 September 2026.
2
Resignation
9 Sep - Mr. Dhananjay Mayur Dave resigned as Independent Director effective 03 September 2026. 9 Sep - Mr. Dhananjay Mayur Dave resigned as Independent Director effective 03 September 2026.
3
Resignation
9 Sep - Mr. Ravindra Venkatesh Hulyalkar resigned as Independent Director effective 03 September 2026 for personal reasons. 9 Sep - Mr. Ravindra Venkatesh Hulyalkar resigned as Independent Director effective 03 September 2026 for personal reasons.
4
Resignation of Director/KMP/SMP
9 Sep - Refractory Shapes Limited has informed about Resignation of Director/KMP/SMP 9 Sep - Refractory Shapes Limited has informed about Resignation of Director/KMP/SMP
5
Resignation of Director/KMP/SMP
9 Sep - Refractory Shapes Limited has informed about Resignation of Director/KMP/SMP 9 Sep - Refractory Shapes Limited has informed about Resignation of Director/KMP/SMP
Frequently Asked Questions about Refractory Shapes
What does Refractory Shapes Ltd do?
Incorporated in 1996, Refractory Shapes Ltd manufactures and trades special shapes, custom-made refractory shapes, and alumina balls[1]
Where is Refractory Shapes Ltd (REFRACTORY) listed?
Refractory Shapes Ltd trades as REFRACTORY on the NSE.
Which sector does Refractory Shapes Ltd belong to?
Refractory Shapes Ltd is classified under the Industrial Products sector, in the Electrodes & Refractories industry.
What is the market capitalisation of Refractory Shapes Ltd?
Refractory Shapes Ltd has a market capitalisation of ₹54.39 Cr, which places it in the Small Cap band.
What is the PE ratio of Refractory Shapes Ltd?
Refractory Shapes Ltd trades at a PE ratio of 11.30, against a book value of ₹23.16 per share.
What is the 52-week high and low of Refractory Shapes Ltd?
Over the last 52 weeks Refractory Shapes Ltd has traded between ₹23.15 and ₹61.2.
What is the Return on Equity (ROE) of Refractory Shapes Ltd?
Refractory Shapes Ltd reported a return on equity of 13.24%. Its debt-to-equity ratio is 0.39.
Company Information
Incorporated in 1996, Refractory Shapes Ltd manufactures and trades special shapes, custom-made refractory shapes, and alumina balls[1]
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