---
title: "Shirpur Gold Refinery Ltd (SHIRPUR-G) — Share Price, Financials & Analysis"
symbol: "SHIRPUR-G"
company: "Shirpur Gold Refinery Ltd"
canonical: "https://tapetide.com/stocks/SHIRPUR-G"
isin: "INE196B01016"
nse_symbol: "SHIRPUR-G"
bse_code: "512289"
sector: "Commodities"
industry: "Non - Ferrous Metals"
generated_at: "2026-09-13T18:49:26.775Z"
---

# Shirpur Gold Refinery Ltd (SHIRPUR-G)

Canonical page: https://tapetide.com/stocks/SHIRPUR-G

## Company

- **NSE Symbol:** SHIRPUR-G
- **BSE Code:** 512289
- **ISIN:** INE196B01016
- **Sector:** Commodities
- **Industry:** Non - Ferrous Metals
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2006-03-01
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** shirpurgold.com

## About

Shirpur Gold Refinery Ltd is operates as a metal refinery with installed capacity to refine gold and silver in Shirpur, Maharashtra.

## Latest Price

- **Price:** ₹4.95
- **Change:** 0 (0%)
- **Open:** ₹5.1
- **Day High:** ₹5.45
- **Day Low:** ₹4.95
- **Previous Close:** ₹4.95
- **Volume:** 0

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -8.31% over past five years.
- Contingent liabilities of Rs.135 Cr.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | -215% | 16% | — |
| revenue growth | -92% | -14% | -8% |

## Financial Statements

### Quarterly Results

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

| Item | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 1290.21 | 1513.35 | 1221.24 | 1221.24 | 1379.15 | 1102.15 | 788.58 | 570.36 | 305.18 | 0 | 0 | 0 |
| Expenses | 1296.42 | 1507.63 | 1218.56 | 1218.56 | 1378.41 | 1096.87 | 778.75 | 570.97 | 367.9 | 2.23 | 0.98 | 1.22 |
| Operating Profit | -6.21 | 5.72 | 2.68 | 2.68 | 0.74 | 5.28 | 9.83 | -0.61 | -62.72 | -2.23 | -0.98 | -1.22 |
| OPM % | -0.48 | 0.38 | 0.22 | 0.22 | 0.05 | 0.48 | 1.25 | -0.11 | -20.55 | — | — | — |
| Other Income | 1.87 | 0.75 | 1.48 | 1.48 | 2.21 | 1.02 | 2 | 2.45 | -2.19 | 0.48 | 1.14 | 0.6 |
| Interest | 10.81 | 11.19 | 12.4 | 12.4 | 13.27 | 12.69 | 16.33 | 9.98 | 15.79 | 11.93 | 5.65 | 1.38 |
| Depreciation | 1.09 | 1.09 | 1.11 | 1.11 | 1.09 | 1.1 | 1.1 | 1.11 | 1.09 | 1.09 | 1.11 | 1.11 |
| Profit before tax | -16.24 | -5.81 | -9.35 | -9.35 | -11.41 | -7.49 | -5.6 | -9.25 | -81.79 | -14.77 | -6.6 | -3.11 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -16.25 | -5.81 | -9.35 | -9.35 | -11.41 | -7.49 | -5.6 | -9.25 | -81.79 | -14.78 | -6.6 | -3.1 |
| EPS in Rs | -5.58 | -1.99 | -3.21 | -3.21 | -3.92 | -2.57 | -1.92 | -3.17 | -28.07 | -5.07 | -2.27 | -1.06 |

### Profit & Loss

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

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 3949 | 4947 | 5297 | 4268 | 3555 | 4371 | 5270 | 5357 | 2766 | 305 |
| Expenses | 3877 | 4907 | 5241 | 4213 | 3647 | 4574 | 5299 | 5341 | 2814 | 372 |
| Operating Profit | 72 | 40 | 56 | 55 | -91 | -203 | -30 | 17 | -48 | -67 |
| OPM % | 1.8 | 0.8 | 1.1 | 1.3 | -2.6 | -4.7 | -0.6 | 0.3 | -1.7 | -22 |
| Other Income | 4 | 9 | 0 | 6 | 11 | 10 | -17 | 5 | 3 | 0 |
| Interest | 58 | 35 | 33 | 32 | 53 | 46 | 45 | 50 | 55 | 35 |
| Depreciation | 7 | 8 | 7 | 7 | 7 | 6 | 5 | 4 | 4 | 4 |
| Profit before tax | 12 | 6 | 16 | 23 | -141 | -246 | -96 | -33 | -104 | -106 |
| Tax % | 57 | 56 | 12 | 6 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | 5 | 3 | 14 | 21 | -141 | -246 | -96 | -33 | -104 | -106 |
| EPS in Rs | 1.73 | 0.91 | 4.92 | 7.32 | -48.24 | -84.32 | -33.01 | -11.19 | -35.74 | -36.47 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

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

| Item | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 |
| Reserves | 287 | 293 | 308 | 331 | 196 | -52 | -144 | -166 | -268 | -319 |
| Borrowings | 657 | 593 | 400 | 576 | 523 | 510 | 514 | 546 | 677 | 687 |
| Other Liabilities | 57 | 183 | 70 | 48 | 132 | 130 | 150 | 161 | 42 | 51 |
| Total Liabilities | 1031 | 1098 | 807 | 985 | 880 | 617 | 550 | 571 | 481 | 449 |
| Fixed Assets | 173 | 166 | 204 | 200 | 197 | 189 | 163 | 163 | 159 | 157 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 858 | 932 | 603 | 785 | 683 | 428 | 387 | 408 | 322 | 292 |
| Total Assets | 1031 | 1098 | 807 | 985 | 880 | 617 | 550 | 571 | 481 | 449 |

### Cash Flow

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

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 76 | -75 | 98 | 253 | -117 | 42 | 70 | 38 | 26 | -99 |
| Cash from Investing Activity | 0 | -10 | -1 | -50 | -1 | 0 | -3 | 2 | -4 | -1 |
| Cash from Financing Activity | -98 | 111 | -101 | -216 | 122 | -63 | -44 | -41 | -18 | 77 |
| Net Cash Flow | -22 | 26 | -3 | -13 | 4 | -22 | 23 | 0 | 3 | -23 |
| Free Cash Flow | 75 | -80 | 98 | 207 | -120 | 38 | 71 | 36 | 21 | -100 |
| CFO/OP | 97 | -103 | 248 | 450 | -214 | -46 | -34 | -129 | 155 | 205 |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 51 | 26 | 51 | 28 | 41 | 60 | 26 | 19 | 20 | 29 |
| Inventory Days | 9 | 14 | 2 | 3 | 3 | 0 | 0 | 0 | 0 | 0 |
| Days Payable | 66 | 4 | 13 | 4 | 4 | 11 | 6 | 3 | 3 | 4 |
| Cash Conversion Cycle | -6 | 36 | 40 | 27 | 41 | 49 | 21 | 16 | 17 | 25 |
| Working Capital Days | -5 | 6 | 6 | 7 | 12 | 0 | -21 | -22 | -23 | -55 |
| ROCE % | 17 | 10 | 4 | 6 | 6 | -10 | -32 | -6 | 4 | -12 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 72.71% | 72.71% | 63.89% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% |
| FIIs | 2.25% | 6.53% | 6.53% | 6.53% | 2.2% | 2.18% | 2.61% | 2.61% |
| DIIs | 0.21% | 0.01% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 24.83% | 20.75% | 29.58% | 49.81% | 54.14% | 54.16% | 53.74% | 53.73% |
| No. of Shareholders | 8138 | 6180 | 6903 | 8573 | 9462 | 9311 | 9296 | 9280 |

### Quarterly

| Category | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% | 43.66% |
| FIIs | 2.2% | 2.18% | 2.18% | 2.18% | 2.18% | 2.61% | 2.61% | 2.61% | 2.61% | 2.61% | 2.61% | 2.61% |
| Public | 54.14% | 54.16% | 54.16% | 54.16% | 54.16% | 53.74% | 53.73% | 53.74% | 53.73% | 53.73% | 53.73% | 53.73% |
| No. of Shareholders | 9414 | 9322 | 9315 | 9311 | 9308 | 9302 | 9297 | 9296 | 9294 | 9290 | 9288 | 9280 |

## Technical Indicators

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

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 2 / 4

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

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 131.51 | Buy |
| EMA (10) | 131.72 | Buy |
| SMA (20) | 123.79 | Buy |
| EMA (20) | 126.1 | Buy |
| SMA (50) | 116.87 | Buy |
| EMA (50) | 114.04 | Buy |
| SMA (100) | 90.93 | Buy |
| EMA (100) | 98.67 | Buy |
| SMA (200) | 73.47 | Buy |
| EMA (200) | 81.34 | Buy |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 75.37 | Sell |
| MACD (12,26,9) | 6.85 | Buy |
| Stochastic (14,3,3) | 98.46 | Sell |
| ADX (14) | 28.18 | Buy |
| Williams %R (14) | 0 | Sell |
| ATR (14) | 3.16 | Neutral |
| ROC (12) | 17.84 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 66.73 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-07-21 | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5eebcabc-f73f-447c-9e0e-8a4ac3005589.pdf) |
| 2026-06-30 | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=85a25b48-cb03-4042-9cd2-574aa5761556.pdf) |
| 2026-06-26 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7766fedd-1ab3-4985-8dcb-8cb77a84ee92.pdf) |
| 2026-06-24 | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=405cdff9-2e8f-456f-aa44-3c94275d680e.pdf) |
| 2026-05-29 | [Results-Delay in Financial Results](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a6319721-cb41-4383-9f36-aeb1751f0bc0.pdf) |
| 2026-05-29 | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e3b8a7ff-1726-4f5b-8553-b8a2f3a23d03.pdf) |
| 2026-04-21 | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=50f1cf34-4627-4e2d-b56c-ff5c033b69ef.pdf) |
| 2026-03-27 | [Closure of Trading Window](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f00763ef-d355-49e0-812f-d47180c4f183.pdf) |
| 2026-03-24 | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=58eaca8e-f359-4a63-8d9c-6851e5a5a223.pdf) |
| 2026-03-18 | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=75df9a10-e34d-4d7c-ac15-d7e348c47b4e.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 26 Feb - Notified outcome of 28th CoC meeting held Feb 26, 2026 (12:00-12:50) via Zoom; no details included. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 26 Feb - Notified outcome of 28th CoC meeting held Feb 26, 2026 (12:00-12:50) via Zoom; no details included.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c98c128b-79a7-417d-9f85-4eb935c2358e.pdf) |
| 24 Mar - 29th Committee of Creditors met March 24, 2026; adjourned from March 20; meeting resumed, no outcomes disclosed. | [Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors 24 Mar - 29th Committee of Creditors met March 24, 2026; adjourned from March 20; meeting resumed, no outcomes disclosed.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/58eaca8e-f359-4a63-8d9c-6851e5a5a223.pdf) |
| 24 Feb - COC 28th meeting on Feb 26, 2026 at 12:00 noon via video conferencing. | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors 24 Feb - COC 28th meeting on Feb 26, 2026 at 12:00 noon via video conferencing.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b09c5a8-0383-43de-b707-da5fb50b212d.pdf) |
| 23 Jan - Under CIRP since 24 Jun 2024; cannot file shareholding pattern, capital audit, encumbrance disclosure for quarter ended 31 Dec 2025. | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 23 Jan - Under CIRP since 24 Jun 2024; cannot file shareholding pattern, capital audit, encumbrance disclosure for quarter ended 31 Dec 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/01cb803c-f7fa-4723-8a4a-3a793cfbe017.pdf) |
| 21 Apr - Company unable to file shareholding pattern and audit reports for quarter ended 31 March 2026. | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 21 Apr - Company unable to file shareholding pattern and audit reports for quarter ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/50f1cf34-4627-4e2d-b56c-ff5c033b69ef.pdf) |
| 18 Mar - Shirpur Gold Refinery Ltd's 29th Committee of Creditors meeting March 20, 2026 at 12:00 noon via video conferencing. | [Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors 18 Mar - Shirpur Gold Refinery Ltd's 29th Committee of Creditors meeting March 20, 2026 at 12:00 noon via video conferencing.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/75df9a10-e34d-4d7c-ac15-d7e348c47b4e.pdf) |
| 14 Feb - RP: CIRP-related issues delay unaudited results for quarter ended December 31, 2025. | [Results-Delay in Financial Results 14 Feb - RP: CIRP-related issues delay unaudited results for quarter ended December 31, 2025.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e8974cc3-eca3-429e-8388-4848b43d9a5a.pdf) |
| 14 Feb - RP unable to file unaudited results for quarter ended Dec 31, 2025 due to CIRP. | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 14 Feb - RP unable to file unaudited results for quarter ended Dec 31, 2025 due to CIRP.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2a2b49d2-a878-4bbf-8776-1bf1d3a496ef.pdf) |
| 13h - Company unable to file shareholding pattern and audit reports for quarter ended 31 March 2026. | [Corporate Insolvency Resolution Process (CIRP)-Updates - Corporate Insolvency Resolution Process (CIRP) 13h - Company unable to file shareholding pattern and audit reports for quarter ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/50f1cf34-4627-4e2d-b56c-ff5c033b69ef.pdf) |
| — | [Closure of Trading Window 27 Mar](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f00763ef-d355-49e0-812f-d47180c4f183.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_AGEEGOLD_2010_2011_12092011035050.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_AGEEGOLD_2009_2010_08042011100507.zip) |
| from bse | [Annual Report 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/72387512289.pdf) |
| from bse | [Annual Report 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/68187512289.pdf) |
| from bse | [Annual Report 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/5122890319.pdf) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/5122890318.pdf) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/5122890317.pdf) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/5122890316.pdf) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/5122890315.pdf) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/512289/5122890314.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 2026-09-13T18:49:26.775Z.