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Refractory Shapes

REFRACTORY NSE
₹40.35

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P/E
36.68
View as Markdown
MCP
Close 3 Nov 2026 ₹40.35 −15.80 −28.1% 1Y
Start ₹56.15

Key Fundamentals

SMEIndustrial ProductsCapital Goods

Price-based figures at the close · TTM

ROCE
10.70%
Debt to Equity
0.39
EPS (TTM)
₹1.10
Book Value
₹23.16
Market Cap
—
P/E (TTM)
36.68
P/B
1.74
ROE
9.96%
Dividend Yield
0.00%
EBITDA
₹9.50 Cr
52W High
₹61.20
52W Low
₹23.15

Peer Comparison

Industrials › Industrial Products › Electrodes & Refractories

Refractory Shapes peer comparison
Graphite
₹741.4568.02₹14,021 Cr2.420.93%3.11%4.58%₹3,029 Cr₹209 Cr
HEG
₹288.1815.49₹8,779 Cr1.991.41%7.42%8.35%₹2,639 Cr₹358 Cr
Raghav Productivity Enhancers
₹1,808.80117.84₹8,033 Cr29.500.06%24.30%30.30%₹315 Cr₹71 Cr
Vesuvius
₹370.3029.37₹7,540 Cr4.300.41%15.00%21.30%₹2,134 Cr₹257 Cr
RHI Magnesita
₹363.85—₹7,413 Cr2.110.70%2.83%6.46%₹4,074 Cr−₹353 Cr
Monolithisch
₹1,336.90100.97₹2,745 Cr19.120.00%27.80%34.80%₹154 Cr₹29 Cr
IFGL Refractories
₹172.5430.38₹1,228 Cr1.061.29%3.22%4.92%₹1,953 Cr₹41 Cr
Refractory Shapes (this company)
₹40.3536.68₹88 Cr1.740.00%9.96%10.70%₹23 Cr₹2 Cr
Median 8 companies₹367.0836.68₹7,477 Cr2.260.55%8.69%9.53%₹2,044 Cr₹56 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

43 Weak

Data confidence 100/100

surveillance:ESM1

Category scores

Quality
56
Good
Returns, margins, earnings quality 22% weight
Valuation
30
Poor
Cheap vs sector & own history 24% weight
Growth
31
Poor
Sales & profit trajectory 9% weight
Financial Health
57
Good
Solvency, leverage, coverage 9% weight
Momentum
72
Strong
Trend strength, vol-adjusted 12% weight
Ownership
41
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

1
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2611
OscillatorsBullish063
Moving AveragesStrong Bullish208

Key readings

RSI (14)
55.90
Neutral
MACD (12,26,9)
2.75
Bullish
SMA (50)
33.30
Bullish
SMA (200)
36.88
Bullish

As of

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025.

Revenue

Revenue growth by window
3Y+14.53%
1Y−2.94%

Net profit

Net profit growth by window
3Y+35.63%
1Y−23.48%

Operating cash flow

Operating cash flow growth by window
3Y−29.67%
1Y+35.85%

Operating margin· change in pp

Operating margin growth by window
3Y+3.80 pp
1Y−3.54 pp

Trailing twelve months: Results are not reported for each of the last eight quarters, so there is no trailing-twelve-month figure.

Revenue by year

Revenue by year, ₹ crore
Mar 2023₹37.97 Cr
Mar 2024₹40.36 Cr
Mar 2025₹58.77 Cr
Mar 2026₹57.04 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2023₹1.92 Cr
Mar 2024₹4.16 Cr
Mar 2025₹6.26 Cr
Mar 2026₹4.79 Cr

Half-yearly Results

₹ Cr
REFRACTORY half-yearly results, ₹ crore
Particulars Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 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 (₹)
—
1.16
1.44
1.43
2.13
0.07

Profit & Loss

₹ Cr
REFRACTORY profit and loss, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Sales
37.97
40.36
58.77
57.04
Expenses
34.1
33.99
48.47
49.06
Operating Profit
3.87
6.37
10.3
7.98
OPM %
10.19%
15.78%
17.53%
13.99%
Other Income
0.86
2.61
1.05
1.53
Interest
1.08
1.56
0.82
1.08
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
6.26
4.79
EPS (₹)
—
2.63
2.87
2.2
Div. Payout %
0%
0%
0%
0%

Balance Sheet

₹ Cr
REFRACTORY balance sheet, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 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

₹ Cr
REFRACTORY cash flow, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 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/EBITDA
127
−36
33
40

Ratios

REFRACTORY financial ratios, annual
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
73.73
62.85
78.81
73.4
Inventory Days
193
309
246
338
Days Payable
246
127
79.26
78.17
Cash Conversion Cycle
20.46
245
246
333
Working Capital Days
−15.86
30.39
114
126
ROCE %
—
17.3%
16.6%
10.7%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Refractory Shapes insights

56 extracted metrics across FY23–FY26.

Shareholding Pattern

As of Sep 2026

  • Promoters 72.48%
  • Public 22.65%
  • Others 4.47%
  • FIIs 0.40%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

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
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 PE ratio of Refractory Shapes Ltd?
Refractory Shapes Ltd trades at a PE ratio of 36.68 as of 3 Nov 2026, on earnings per share of ₹1.1, 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 as of 3 Nov 2026.
What is the Return on Equity (ROE) of Refractory Shapes Ltd?
Refractory Shapes Ltd reported a return on equity of 9.96%. 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

Website refshape.com
Listed 14 May 2024
Face Value ₹10

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