Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16.91 | 7.76 | 13.33 | 9.79 | 11.63 | 2.20 | 12.09 | 10.84 | 15.53 | 18.31 | 10.54 | 14.48 |
| Expenses | 11.64 | 9.09 | 12.44 | 10.23 | 9.45 | 4.40 | 9.57 | 9.90 | 14.69 | 19.78 | 11.84 | 13.45 |
| Operating Profit | 5.27 | -1.33 | 0.89 | -0.44 | 2.18 | -2.20 | 2.52 | 0.94 | 0.84 | -1.47 | -1.30 | 1.03 |
| OPM % | 31.16% | -17.14% | 6.68% | -4.49% | 18.74% | -100.00% | 20.84% | 8.67% | 5.41% | -8.03% | -12.33% | 7.11% |
| Other Income | 0.00 | 0.04 | 0.03 | 0.74 | -0.73 | 0.62 | 0.38 | 0.00 | 3.86 | 0.00 | 0.06 | 0.00 |
| Interest | 0.61 | 0.59 | 0.53 | 0.61 | 0.62 | 0.50 | 0.53 | 0.48 | 0.45 | 0.42 | 0.67 | 0.45 |
| Depreciation | 0.11 | 0.11 | 0.48 | 0.20 | 0.20 | 0.20 | 0.15 | 0.19 | 0.19 | 0.19 | 0.12 | 0.17 |
| Profit before tax | 4.55 | -1.99 | -0.09 | -0.51 | 0.63 | -2.28 | 2.22 | 0.27 | 4.06 | -2.08 | -2.03 | 0.41 |
| Tax % | 0.00% | 0.00% | -66.67% | 0.00% | 0.00% | 0.00% | -2.70% | 0.00% | 0.00% | 0.00% | 1.97% | 0.00% |
| Net Profit | 4.55 | -1.99 | -0.02 | -0.51 | 0.63 | -2.28 | 2.27 | 0.28 | 4.06 | -2.08 | -2.08 | 0.41 |
| EPS in Rs | 9.65 | -4.22 | -0.04 | -1.08 | 1.34 | -4.84 | 4.82 | 0.59 | 8.61 | -4.41 | -4.41 | 0.87 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 9.67 | 7.23 | 21.75 | 41.27 | 48.22 | 20.91 | 62.89 | 59.07 | 40.33 | 35.72 | 55.23 | 58.86 |
| Expenses | 11.93 | 6.46 | 16.14 | 35.99 | 44.05 | 17.79 | 59.58 | 55.43 | 37.01 | 33.68 | 56.22 | 59.76 |
| Operating Profit | -2.26 | 0.77 | 5.61 | 5.28 | 4.17 | 3.12 | 3.31 | 3.64 | 3.32 | 2.04 | -0.99 | -0.90 |
| OPM % | -23.37% | 10.65% | 25.79% | 12.79% | 8.65% | 14.92% | 5.26% | 6.16% | 8.23% | 5.71% | -1.79% | -1.53% |
| Other Income | 3.74 | 0.07 | 0.03 | 2.56 | 0.05 | 0.06 | 0.05 | 0.06 | 0.07 | 1.00 | 3.85 | 3.92 |
| Interest | 2.82 | 2.82 | 3.74 | 3.51 | 2.30 | 2.49 | 2.51 | 2.23 | 2.36 | 2.26 | 2.02 | 1.99 |
| Depreciation | 1.07 | 1.19 | 1.21 | 0.29 | 0.30 | 0.29 | 0.29 | 0.43 | 0.80 | 0.75 | 0.68 | 0.67 |
| Profit before tax | -2.41 | -3.17 | 0.69 | 4.04 | 1.62 | 0.40 | 0.56 | 1.04 | 0.23 | 0.03 | 0.16 | 0.36 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 25.31% | 12.50% | -105.36% | 16.35% | -26.09% | -200.00% | 25.00% | |
| Net Profit | -2.40 | -3.18 | 0.69 | 4.05 | 1.21 | 0.35 | 1.15 | 0.86 | 0.30 | 0.09 | 0.11 | 0.31 |
| EPS in Rs | -5.09 | -6.75 | 1.46 | 8.59 | 2.57 | 0.74 | 2.44 | 1.82 | 0.64 | 0.19 | 0.23 | 0.66 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 19% | 21% | -2% | 60% | ||
| Compounded Profit Growth | 7% | -19% | -48% | -69% | ||
| Stock Price CAGR | 2% | 12% | 18% | -34% | ||
| Return on Equity | % | % | % | % |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 | 4.71 |
| Reserves | -20.96 | -23.36 | -26.54 | -25.90 | -21.90 | -20.69 | -20.34 | -19.19 | -18.32 | -18.03 | -17.94 | -17.83 |
| Borrowings | 33.23 | 38.87 | 42.23 | 42.83 | 52.18 | 44.40 | 43.50 | 45.63 | 26.97 | 29.39 | 30.91 | 37.40 |
| Other Liabilities | 12.68 | 13.17 | 14.25 | 47.06 | 11.69 | 7.20 | 8.51 | 13.35 | 33.00 | 37.80 | 31.28 | 31.16 |
| Total Liabilities | 29.66 | 33.39 | 34.65 | 68.70 | 46.68 | 35.62 | 36.38 | 44.50 | 46.36 | 53.87 | 48.96 | 55.44 |
| Fixed Assets | 5.49 | 8.69 | 7.49 | 6.48 | 6.20 | 6.12 | 5.84 | 5.55 | 6.54 | 6.19 | 5.44 | 4.92 |
| CWIP | 2.54 | 2.60 | 2.65 | 2.66 | 2.68 | 2.68 | 2.68 | 2.68 | 2.68 | 2.68 | 2.68 | 2.68 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets | 21.63 | 22.10 | 24.51 | 59.56 | 37.80 | 26.82 | 27.86 | 36.27 | 37.14 | 45.00 | 40.84 | 47.84 |
| Total Assets | 29.66 | 33.39 | 34.65 | 68.70 | 46.68 | 35.62 | 36.38 | 44.50 | 46.36 | 53.87 | 48.96 | 55.44 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -6.52 | -3.43 | 1.06 | -6.37 | 0.93 | 10.75 | 4.52 | 0.28 | 21.83 | 0.73 | 1.18 | -7.34 |
| Cash from Investing Activity | 0.73 | -4.28 | 0.03 | -0.19 | 0.15 | -0.58 | 0.01 | 0.10 | -1.46 | -0.44 | 0.03 | 3.62 |
| Cash from Financing Activity | 5.67 | 9.11 | -2.23 | 6.93 | -1.20 | -10.08 | -3.40 | -0.39 | -20.88 | 0.05 | -1.70 | 4.47 |
| Net Cash Flow | -0.11 | 1.40 | -1.14 | 0.38 | -0.12 | 0.08 | 1.13 | 0.00 | -0.51 | 0.34 | -0.49 | 0.75 |
| Free Cash Flow | -6.77 | -7.76 | 1.02 | -6.58 | 0.89 | 10.53 | 4.52 | 0.28 | 20.41 | 0.28 | 1.18 | -7.51 |
| CFO/OP | 41% | 152% | 138% | -114% | 18% | 258% | 145% | 8% | 600% | 22% | 58% | 741% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 353.40 | 452.57 | 680.02 | 455.45 | 219.60 | 104.91 | 215.93 | 131.22 | 212.56 | 285.81 | 303.08 | 224.30 |
| Inventory Days | 78.01 | 333.79 | 1,127.57 | 555.99 | 73.40 | 93.35 | 374.46 | 71.23 | 2.72 | 97.22 | 106.21 | 66.57 |
| Days Payable | 87.36 | 471.86 | 1,370.45 | 577.13 | 9.79 | 8.13 | 73.52 | 57.62 | 101.71 | 214.13 | 152.31 | 146.84 |
| Cash Conversion Cycle | 344.05 | 314.50 | 437.14 | 434.32 | 283.22 | 190.13 | 516.87 | 144.83 | 113.57 | 168.90 | 256.98 | 144.03 |
| Working Capital Days | 40.62 | 209.11 | 258.98 | -64.94 | 130.36 | 67.82 | 146.10 | 45.21 | -44.80 | -42.17 | -35.15 | -8.79 |
| ROCE % | -74.84% | -17.58% | -1.72% | 21.08% | 17.87% | 12.36% | 10.27% | 10.40% | 14.69% | 17.60% | 13.63% | 10.53% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% | 50.74% |
| DIIs | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
| Government | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 2.06% | 0.02% | 0.02% | 0.02% |
| Public | 47.16% | 47.16% | 47.16% | 47.16% | 47.17% | 47.16% | 47.16% | 47.16% | 47.16% | 49.19% | 49.20% | 49.20% |
| No. of Shareholders | 5,725 | 5,687 | 5,646 | 5,669 | 5,672 | 5,675 | 5,678 | 5,662 | 5,654 | 5,647 | 5,630 | 5,618 |
Fundamentals
Market Cap₹ 8.95 Cr.
Current Price₹ 19.0
Stock P/E32.0
Book Value₹ -27.8
ROCE10.5 %
ROE%
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)60%
Compounded Profit Growth (TTM)-69%
Standalone figures.
Valuation
Market capRs 9 Cr
Enterprise valueRs 44 Cr
P/E (TTM)28.89x
Price to book-0.68x
Price to sales0.15x
EV / EBITDA14.60x
EV / EBIT18.77x
EV / sales0.75x
Earnings yield3.46%
P/E, 3-year average88.17x
P/B, 3-year average-0.97x
P/E, 5-year average55.03x
P/B, 5-year average-0.74x
Profitability
Operating margin (excl. other income)-1.79%
Operating margin (incl. other income)5.18%
EBITDA margin5.13%
Pre-tax margin0.61%
Net profit margin0.53%
Net margin, latest quarter2.83%
ROE-0.83%
ROCE10.39%
ROA0.21%
ROE, 3-year average-1.25%
ROCE, 3-year average13.85%
ROA, 3-year average0.33%
ROE, 5-year average-3.50%
ROCE, 5-year average13.33%
ROA, 5-year average1.14%
ROIC (approx.)8.00%
Tax rate25.00%
Other income / net worth-29.34%
Growth
Sales growth (latest year)54.62%
Profit growth (latest year)22.22%
Sales CAGR, 3 years-2.22%
Sales CAGR, 5 years21.44%
Profit CAGR, 3 years-49.62%
Profit CAGR, 5 years-20.66%
Sales growth QoQ37.38%
Sales growth YoY (latest quarter)33.58%
Profit growth YoY (latest quarter)46.43%
Per share
EPS (TTM)Rs 0.66
EPS (latest year)Rs 0.23
EPS (latest quarter)Rs 0.87
EPS, 3-year averageRs 0.35
EPS, 5-year averageRs 1.07
Book value per shareRs -27.84
Sales per shareRs 124.89
Cash flow per shareRs -15.57
Free cash flow per shareRs -15.93
Efficiency
Asset turnover1.00x
Fixed asset turnover11.23x
Inventory turnover5.73x
Inventory days64 days
Debtor days224 days
Debtors turnover1.63x
Creditor days147 days
Cash conversion cycle144 days
Working capital days-9 days
Leverage
Total debtRs 37 Cr
Cash and bankRs 2 Cr
Net debtRs 35 Cr
Debt to equity-2.85x
Net debt / EBITDA11.64x
Interest coverage1.18x
Owners' fund to total sources-23.67%
Debt to assets67.46%
Cash flow
Cash from Operating Activity (latest year)Rs -7 Cr
Cash from Investing Activity (latest year)Rs 4 Cr
Cash from Financing Activity (latest year)Rs 4 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -8 Cr
FCFE (approx.: FCF + change in debt)Rs -1 Cr
Cash from ops / profit, 5 years6.65x
Statement figures
Net sales (TTM)Rs 59 Cr
Net sales (latest year)Rs 55 Cr
Sales (latest quarter)Rs 14 Cr
Operating profit excl. other income (latest year)Rs -1 Cr
Operating profit (latest quarter)Rs 1 Cr
Other income (TTM)Rs 4 Cr
EBITDA (TTM)Rs 3 Cr
PBDT (TTM)Rs 1 Cr
Profit before tax (TTM)Rs 0 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 0 Cr
Net profit (latest year)Rs 0 Cr
Net profit (latest quarter)Rs 0 Cr
Depreciation (TTM)Rs 1 Cr
Depreciation (latest quarter)Rs 0 Cr
Interest (TTM)Rs 2 Cr
Cost of goods sold (latest year)Rs 46 Cr
Total expenditure (latest year)Rs 56 Cr
Total income (latest year)Rs 59 Cr
Share capitalRs 5 Cr
ReservesRs -18 Cr
Shareholders' fundsRs -13 Cr
Total assetsRs 55 Cr
Net blockRs 5 Cr
Capital work in progressRs 3 Cr
ReceivablesRs 34 Cr
InventoryRs 8 Cr
Other liabilitiesRs 31 Cr
Shares outstanding (crore)0.47
Ownership
Promoter holding50.74% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 28.9 is at the 82th percentile of its own 7.1-year range
(median 6.8, low 0.4, high 124.9).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | 502271 | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +7.0% | -2.8% | +9.8 pts |
| 3 years | +64.2% | +14.2% | +50.0 pts |
| 5 years | +46.2% | +27.9% | +18.3 pts |
Red flags
F-score 4 of 8| serious | Negative equity Shareholders' equity is negative |
| explain | Weak cash conversion Cash from operations was -1086% of net profit over the last 3 years |
| explain | High accruals Profit exceeded operating cash by 13% of total assets in 2026 |
| explain | Low interest cover Interest cover 1.1x in 2026 |
| look | Profit leans on other income Other income was 2406% of pre-tax profit in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹14 Cr +33.6% vs Jun 2025.
Net profit ₹0 Cr +46.4%.
Activity
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No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Raasi Refractories Ltd?
Raasi Refractories Ltd (502271) has a market capitalisation of Rs 8.95 Cr. at the 2026-09-28 close.
What is the P/E ratio of Raasi Refractories Ltd?
Raasi Refractories Ltd trades at a P/E of 32.0 on trailing twelve-month profit, at the 2026-09-28 close.
What were Raasi Refractories Ltd's latest quarterly results?
In the Jun 2026 quarter, Raasi Refractories Ltd sales was Rs 14 Cr (+33.6% vs Jun 2025) and net profit was Rs 0 Cr.