SP Refractories Ltd
Incorporated in 2007, SP Refractories
Ltd manufactures and supplies refractory
material[1]
- Market Cap ₹ 14.8 Cr.
- Current Price ₹ 83.0
- High / Low ₹ 199 / 74.5
- Stock P/E 4.21
- Book Value ₹ 90.1
- Dividend Yield 0.00 %
- ROCE 28.6 %
- ROE 24.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.92 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 1.85% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Electrodes & Refractories
Part of Nifty SME Emerge
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 18.53 | 20.97 | 25.69 | 31.51 | 27.24 | 28.81 | 30.25 | 28.15 | |
| 17.65 | 19.78 | 24.23 | 29.51 | 25.76 | 25.91 | 26.73 | 22.86 | |
| Operating Profit | 0.88 | 1.19 | 1.46 | 2.00 | 1.48 | 2.90 | 3.52 | 5.29 |
| OPM % | 4.75% | 5.67% | 5.68% | 6.35% | 5.43% | 10.07% | 11.64% | 18.79% |
| 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.03 | 0.01 | 0.02 | |
| Interest | 0.40 | 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 | 0.40 | 0.42 |
| Profit before tax | 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% |
| 0.21 | 0.40 | 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 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 2% |
| 3 Years: | 1% |
| TTM: | -7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 36% |
| 3 Years: | 79% |
| TTM: | 69% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -1% |
| 1 Year: | -35% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 20% |
| Last Year: | 25% |
Balance Sheet
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 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 | 10.80 | 14.33 |
| 3.75 | 4.13 | 3.79 | 5.07 | 5.42 | 4.68 | 4.44 | 1.06 | |
| 0.65 | 0.94 | 2.11 | 1.90 | 1.74 | 1.96 | 1.85 | 1.59 | |
| Total Liabilities | 7.92 | 8.99 | 10.57 | 15.29 | 16.10 | 17.14 | 18.88 | 18.77 |
| 2.07 | 2.01 | 1.90 | 4.04 | 3.89 | 7.12 | 7.11 | 7.55 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.76 | 2.41 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.06 |
| 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 | 16.10 | 17.14 | 18.88 | 18.77 |
Cash Flows
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 0.84 | 0.79 | -0.66 | 0.80 | 0.41 | 1.59 | 1.50 | 1.31 | |
| -0.17 | -0.16 | -0.11 | -3.13 | -1.73 | -1.15 | -0.38 | -0.89 | |
| -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 | 0.00 | 0.00 | 0.00 |
| 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
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 78.99 | 77.80 | 98.74 | 70.20 | 81.60 | 81.21 | 76.50 | 63.92 |
| Inventory Days | 33.01 | 31.72 | 27.69 | 37.05 | 54.34 | 58.31 | 100.02 | 143.36 |
| Days Payable | 3.85 | 9.85 | 20.12 | 24.48 | 24.49 | 23.41 | 19.54 | 19.24 |
| Cash Conversion Cycle | 108.14 | 99.67 | 106.32 | 82.76 | 111.45 | 116.12 | 156.98 | 188.05 |
| Working Capital Days | 28.36 | 20.71 | 42.91 | 44.02 | 62.17 | 68.67 | 82.05 | 124.61 |
| ROCE % | 13.05% | 15.14% | 16.38% | 9.01% | 17.60% | 19.43% | 28.59% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Installed Production Capacity MTPA |
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| Number of Permanent Employees Count |
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| Solar Power Installation KV |
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| Net Capital Turnover Ratio Ratio |
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Extracted by Screener AI
Documents
Announcements
-
Resignation of Director/KMP/SMP
9 June 2026 - Sp Refractories Limited has informed about Resignation of Director/KMP/SMP
-
Appointment
9 June 2026 - Mrs. Meenakshi Shrikant Mulmule appointed CFO from 10 June 2026; Ms. Shweta Prabodh Kale resigned effective 9 June 2026.
-
Outcome of Board Meeting
9 June 2026 - Mrs. Meenakshi Shrikant Mulmule appointed CFO from 10 June 2026; Shweta Prabodh Kale resigned on 9 June 2026.
-
Resignation
9 June 2026 - Ms. Shweta Prabodh Kale resigns as CFO and KMP effective close of business on 09 June 2026.
-
Outcome of Board Meeting
14 May 2026 - Board approved audited results for half-year and year ended March 31, 2026; auditor report unmodified.
Business Overview:[1][2]
SPRL manufactures high quality refractory material made using premium grade cement, aggregates, hydrated lime, Calcined Alumina, and other raw material. The final product is used by iron, steel, and construction industries because of its thermal conductivity, maximum strength and heat resistance. Company also offers customized solutions and large product lines for its clients.