SP Refractories Ltd
SP Refractories is engaged in the business of manufacturing, exporting and supplying high quality Refractory Material.(Source : 202103 Annual Report Page No: 122)
- Market Cap ₹ 26.0 Cr.
- Current Price ₹ 145
- High / Low ₹ 153 / 80.0
- Stock P/E 21.3
- Book Value ₹ 54.2
- Dividend Yield 0.00 %
- ROCE 9.01 %
- ROE 7.18 %
- Face Value ₹ 10.0
Pros
Cons
- Stock is trading at 2.69 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 12.1% over last 3 years.
- Company might be capitalizing the interest cost
* 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
Sector: Refractories Industry: Refractories / Intermediates
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
|---|---|---|---|---|---|---|
| 18.53 | 20.97 | 25.69 | 31.51 | 27.23 | 26.57 | |
| 17.65 | 19.78 | 24.23 | 29.51 | 25.75 | 24.30 | |
| Operating Profit | 0.88 | 1.19 | 1.46 | 2.00 | 1.48 | 2.27 |
| OPM % | 4.75% | 5.67% | 5.68% | 6.35% | 5.44% | 8.54% |
| 0.03 | 0.03 | 0.03 | 0.01 | 0.01 | 0.00 | |
| Interest | 0.40 | 0.44 | 0.21 | 0.42 | 0.41 | 0.29 |
| Depreciation | 0.22 | 0.22 | 0.24 | 0.22 | 0.24 | 0.30 |
| Profit before tax | 0.29 | 0.56 | 1.04 | 1.37 | 0.84 | 1.68 |
| Tax % | 24.14% | 26.79% | 27.88% | 27.74% | 26.19% | |
| 0.21 | 0.40 | 0.75 | 0.98 | 0.62 | 1.22 | |
| EPS in Rs | 4.22 | 8.04 | 5.03 | 5.48 | 3.46 | 6.82 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 9% |
| TTM: | -16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 16% |
| TTM: | 281% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 82% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 12% |
| Last Year: | 7% |
Balance Sheet
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.50 | 0.50 | 1.49 | 1.79 | 1.79 | 1.79 |
| Reserves | 3.02 | 3.42 | 3.18 | 6.53 | 7.15 | 7.90 |
| 3.75 | 4.13 | 3.79 | 5.07 | 5.42 | 5.21 | |
| 0.65 | 0.94 | 2.11 | 1.90 | 1.74 | 2.01 | |
| Total Liabilities | 7.92 | 8.99 | 10.57 | 15.29 | 16.10 | 16.91 |
| 2.07 | 2.01 | 1.90 | 4.04 | 3.89 | 6.64 | |
| CWIP | 0.00 | 0.00 | 0.00 | 0.76 | 2.41 | 0.00 |
| Investments | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| 5.85 | 6.98 | 8.66 | 10.48 | 9.79 | 10.26 | |
| Total Assets | 7.92 | 8.99 | 10.57 | 15.29 | 16.10 | 16.91 |
Cash Flows
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| 0.84 | 0.79 | -0.66 | 0.80 | 0.41 | |
| -0.17 | -0.16 | -0.11 | -3.13 | -1.73 | |
| -0.65 | -0.64 | 0.76 | 3.15 | 0.51 | |
| Net Cash Flow | 0.01 | -0.01 | -0.01 | 0.82 | -0.81 |
Ratios
Figures in Rs. Crores
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
|---|---|---|---|---|---|
| Debtor Days | 78.99 | 77.80 | 98.74 | 70.20 | 81.63 |
| Inventory Days | 33.01 | 31.72 | 27.69 | 37.05 | 54.34 |
| Days Payable | 3.85 | 9.85 | 20.12 | 24.48 | 24.49 |
| Cash Conversion Cycle | 108.14 | 99.67 | 106.32 | 82.76 | 111.48 |
| Working Capital Days | 92.38 | 87.55 | 93.06 | 88.96 | 106.56 |
| ROCE % | 13.05% | 15.14% | 16.38% | 9.01% |
Documents
Announcements
No data available.
Business Area[1] SP Refractories Ltd. (SPRL) manufactures Refractory Materials using hydrated lime, Calcined Alumina, and other raw materials. Its core focus is on refractory cement which is a niche and high-margin cement widely used in iron & steel and construction industries because of its thermal conductivity, Maximum strength, and Heat resistance.