SP Refractories
SPRL NSE
SP Refractories
IndustrialsNSE: SPRL Industrial Products
Key Fundamentals
SMEElectrodes & RefractoriesIndustrial ProductsMarket Cap
₹18.25 Cr
Volatility
Moderate
P/E Ratio
5.2
EBITDA
₹5.28 Cr
Return on Equity
16.61%
Debt to Equity
0.07
Book Value
₹90.08
52W High
₹199.4
52W Low
₹74.5
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 1.13 times its book value
Weaknesses
1- The company has delivered a poor sales growth of 1.85% over past five years.
Growth Rate
Revenue Growth
-7.1% lower than
3Y
Net Income Growth
70% lower than
3Y
Cash Flow Change
-5.66% lower than
3Y
ROE
11.85% lower than
3Y
ROCE
8.94% lower than
3Y
EBITDA Margin (Avg.)
60.31% lower than
3Y
Quarterly Results
| Particulars | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16.01 | 14.47 | 17.04 | 14.6 | 12.63 | 13.94 | 14.88 | 14.41 | 15.85 | 16.3 | 11.85 |
| Expenses | 15.49 | 13.14 | 16.39 | 14.03 | 11.72 | 12.58 | 13.36 | 12.72 | 14.02 | 13.06 | 9.8 |
| Operating Profit | 0.52 | 1.33 | 0.65 | 0.57 | 0.91 | 1.36 | 1.52 | 1.69 | 1.83 | 3.24 | 2.05 |
| OPM % | 3.25% | 9.19% | 3.81% | 3.9% | 7.21% | 9.76% | 10.22% | 11.73% | 11.55% | 19.88% | 17.3% |
| Other Income | 0.02 | 0 | 0.01 | 0.01 | 0 | 0 | 0.03 | 0 | 0.01 | 0 | 0.02 |
| Interest | 0.12 | 0.12 | 0.29 | 0.26 | 0.15 | 0.14 | 0.28 | 0.18 | 0.16 | 0.1 | 0.05 |
| Depreciation | 0.12 | 0.12 | 0.1 | 0.12 | 0.12 | 0.18 | 0.15 | 0.2 | 0.2 | 0.21 | 0.21 |
| PBT | 0.3 | 1.09 | 0.27 | 0.2 | 0.64 | 1.04 | 1.12 | 1.31 | 1.48 | 2.93 | 1.81 |
| Tax % | 26.67% | 25.69% | 37.04% | 25% | 26.56% | 27.88% | 27.68% | 25.95% | 24.32% | 25.26% | 25.97% |
| Net Profit | 0.22 | 0.81 | 0.18 | 0.14 | 0.47 | 0.75 | 0.81 | 0.97 | 1.12 | 2.2 | 1.33 |
| EPS in Rs | 1.47 | 5.43 | 1.01 | 0.78 | 2.63 | 4.19 | 4.53 | 5.42 | 6.26 | 12.29 | 7.43 |
Profit & Loss
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 18.53 | 20.97 | 25.69 | 31.51 | 27.24 | 28.81 | 30.25 | 28.15 |
| Expenses | 17.65 | 19.78 | 24.23 | 29.51 | 25.76 | 25.91 | 26.73 | 22.86 |
| Operating Profit | 0.88 | 1.19 | 1.46 | 2 | 1.48 | 2.9 | 3.52 | 5.29 |
| OPM % | 4.75% | 5.67% | 5.68% | 6.35% | 5.43% | 10.07% | 11.64% | 18.79% |
| Other Income | 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.03 | 0.01 | 0.02 |
| Interest | 0.4 | 0.44 | 0.21 | 0.42 | 0.41 | 0.43 | 0.34 | 0.15 |
| Depreciation | 0.22 | 0.22 | 0.24 | 0.22 | 0.24 | 0.33 | 0.4 | 0.42 |
| PBT | 0.29 | 0.56 | 1.04 | 1.37 | 0.84 | 2.17 | 2.79 | 4.74 |
| Tax % | 24.14% | 26.79% | 27.88% | 27.74% | 26.19% | 28.11% | 25.09% | 25.53% |
| Net Profit | 0.21 | 0.4 | 0.75 | 0.98 | 0.62 | 1.56 | 2.09 | 3.53 |
| EPS in Rs | 4.22 | 8.04 | 5.03 | 5.48 | 3.46 | 8.72 | 11.68 | 19.73 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.5 | 0.5 | 1.49 | 1.79 | 1.79 | 1.79 | 1.79 | 1.79 |
| Reserves | 3.02 | 3.42 | 3.18 | 6.53 | 7.15 | 8.71 | 10.8 | 14.33 |
| Borrowings | 3.75 | 4.13 | 3.79 | 5.07 | 5.42 | 4.68 | 4.44 | 1.06 |
| Other Liabilities | 0.65 | 0.94 | 2.11 | 1.9 | 1.74 | 1.96 | 1.85 | 1.59 |
| Total Liabilities | 7.92 | 8.99 | 10.57 | 15.29 | 16.1 | 17.14 | 18.88 | 18.77 |
| Fixed Assets | 2.07 | 2.01 | 1.9 | 4.04 | 3.89 | 7.12 | 7.11 | 7.55 |
| CWIP | 0 | 0 | 0 | 0.76 | 2.41 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.06 |
| Other Assets | 5.85 | 6.98 | 8.66 | 10.48 | 9.79 | 10.01 | 11.76 | 11.16 |
| Total Assets | 7.92 | 8.99 | 10.57 | 15.29 | 16.1 | 17.14 | 18.88 | 18.77 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | 0.84 | 0.79 | -0.66 | 0.8 | 0.41 | 1.59 | 1.5 | 1.31 |
| Investing | -0.17 | -0.16 | -0.11 | -3.13 | -1.73 | -1.15 | -0.38 | -0.89 |
| Financing | -0.65 | -0.64 | 0.76 | 3.15 | 0.51 | -0.44 | -1.12 | -0.41 |
| Net Cash Flow | 0.01 | -0.01 | -0.01 | 0.82 | -0.81 | 0 | 0 | 0 |
| Free Cash Flow | 0.65 | 0.63 | -0.79 | -2.34 | -1.33 | 0.44 | 1.11 | 0.44 |
| CFO/OP | 105 | 80 | -24 | 60 | 44 | 73 | 61 | 58 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 78.99 | 77.8 | 98.74 | 70.2 | 81.6 | 81.21 | 76.5 | 63.92 |
| Inventory Days | 33.01 | 31.72 | 27.69 | 37.05 | 54.34 | 58.31 | 100 | 143 |
| Days Payable | 3.85 | 9.85 | 20.12 | 24.48 | 24.49 | 23.41 | 19.54 | 19.24 |
| Cash Conversion Cycle | 108 | 99.67 | 106 | 82.76 | 111 | 116 | 157 | 188 |
| Working Capital Days | 28.36 | 20.71 | 42.91 | 44.02 | 62.17 | 68.67 | 82.05 | 125 |
| ROCE % | — | 13.05% | 15.14% | 16.38% | 9.01% | 17.6% | 19.43% | 28.59% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view SP Refractories insights
50 extracted metrics + investor summaries across FY19–FY26.
Documents
1
Copy of Newspaper Publication
24 Aug - Published newspaper ads on 24 August 2026 for 19th AGM and e-voting. 24 Aug - Published newspaper ads on 24 August 2026 for 19th AGM and e-voting.
2
Record Date
22 Aug - 19th AGM on 17 Sept 2026; record date and e-voting cut-off 10 Sept 2026; Rs.1 dividend recommended. 22 Aug - 19th AGM on 17 Sept 2026; record date and e-voting cut-off 10 Sept 2026; Rs.1 dividend recommended.
3
Shareholders meeting
22 Aug - SP Refractories schedules 19th AGM on 17 Sept 2026; proposes Rs1 dividend and director remuneration approvals. 22 Aug - SP Refractories schedules 19th AGM on 17 Sept 2026; proposes Rs1 dividend and director remuneration approvals.
4
Dividend
19 Aug - Board recommended Rs.1 final dividend and reappointed two independent directors from 11 November 2026. 19 Aug - Board recommended Rs.1 final dividend and reappointed two independent directors from 11 November 2026.
5
Trading Window
13 Aug - Trading window closed from 14 August 2026 to 21 August 2026 for final dividend consideration. 13 Aug - Trading window closed from 14 August 2026 to 21 August 2026 for final dividend consideration.
Frequently Asked Questions about SP Refractories
What does SP Refractories Ltd do?
Incorporated in 2007, SP Refractories
Ltd manufactures and supplies refractory
material[1]
Where is SP Refractories Ltd (SPRL) listed?
SP Refractories Ltd trades as SPRL on the NSE.
Which sector does SP Refractories Ltd belong to?
SP Refractories Ltd is classified under the Industrials sector, in the Industrial Products industry.
What is the market capitalisation of SP Refractories Ltd?
SP Refractories Ltd has a market capitalisation of ₹18.25 Cr, which places it in the Small Cap band.
What is the PE ratio of SP Refractories Ltd?
SP Refractories Ltd trades at a PE ratio of 5.20, against a book value of ₹90.08 per share.
What is the 52-week high and low of SP Refractories Ltd?
Over the last 52 weeks SP Refractories Ltd has traded between ₹74.5 and ₹199.4.
Does SP Refractories Ltd pay dividends?
SP Refractories Ltd has a dividend yield of 0.98%.
What is the Return on Equity (ROE) of SP Refractories Ltd?
SP Refractories Ltd reported a return on equity of 16.61%. Its debt-to-equity ratio is 0.07.
Company Information
Incorporated in 2007, SP Refractories Ltd manufactures and supplies refractory material[1]
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