Price
Financials
Standalone, Rs crore| 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 | 14.60 | 12.63 | 13.94 | 14.88 | 14.41 | 15.85 | 16.30 | 11.85 |
| Expenses | 15.49 | 13.14 | 16.39 | 14.03 | 11.72 | 12.58 | 13.36 | 12.72 | 14.02 | 13.06 | 9.80 |
| 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% | 3.90% | 7.21% | 9.76% | 10.22% | 11.73% | 11.55% | 19.88% | 17.30% |
| Other Income | 0.02 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.03 | 0.00 | 0.01 | 0.00 | 0.02 |
| Interest | 0.12 | 0.12 | 0.29 | 0.26 | 0.15 | 0.14 | 0.28 | 0.18 | 0.16 | 0.10 | 0.05 |
| Depreciation | 0.12 | 0.12 | 0.10 | 0.12 | 0.12 | 0.18 | 0.15 | 0.20 | 0.20 | 0.21 | 0.21 |
| Profit before tax | 0.30 | 1.09 | 0.27 | 0.20 | 0.64 | 1.04 | 1.12 | 1.31 | 1.48 | 2.93 | 1.81 |
| Tax % | 26.67% | 25.69% | 37.04% | 25.00% | 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 | 2.20 | 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 |
| 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 | 2.00 | 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% |
| Other Income | 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% |
| Net Profit | 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% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | % | 2% | 1% | -7% | ||
| Compounded Profit Growth | % | 36% | 79% | 69% | ||
| Stock Price CAGR | % | % | 10% | -8% | ||
| Return on Equity | % | 17% | 20% | 25% |
| 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 |
| 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 | 1.90 | 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 |
| Fixed Assets | 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 |
| 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 | 16.10 | 17.14 | 18.88 | 18.77 |
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0.84 | 0.79 | -0.66 | 0.80 | 0.41 | 1.59 | 1.50 | 1.31 |
| Cash from Investing Activity | -0.17 | -0.16 | -0.11 | -3.13 | -1.73 | -1.15 | -0.38 | -0.89 |
| Cash from Financing Activity | -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% | 47% |
| 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 | 144.51 |
| Days Payable | 3.85 | 9.85 | 20.12 | 24.48 | 24.49 | 23.41 | 19.54 | 19.39 |
| Cash Conversion Cycle | 108.14 | 99.67 | 106.32 | 82.76 | 111.45 | 116.12 | 156.98 | 189.04 |
| 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% |
| Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Promoters | 69.42% | 69.42% | 69.42% | 69.42% | 69.42% | 69.42% | 69.42% | 69.42% | 69.42% |
| Public | 30.58% | 30.58% | 30.58% | 30.58% | 30.58% | 30.58% | 30.58% | 30.58% | 30.58% |
| No. of Shareholders | 146 | 89 | 78 | 78 | 81 | 224 | 181 | 169 | 165 |
Fundamentals
Market Cap₹ 22.6 Cr.
Current Price₹ 126
Stock P/E6.41
Book Value₹ 90.1
ROCE28.6 %
ROE24.6 %
Dividend Yield0.79 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-7%
Compounded Profit Growth (TTM)69%
Standalone figures.
Valuation
Market capRs 26 Cr
Enterprise valueRs 31 Cr
P/E (TTM)16.77x
Price to book2.49x
Price to sales0.91x
EV / EBITDA10.52x
EV / EBIT11.86x
EV / sales1.07x
Price to cash flow16.45x
Earnings yield5.96%
P/E, 3-year average18.40x
P/B, 3-year average1.97x
P/E, 5-year average18.40x
P/B, 5-year average1.97x
Profitability
Operating margin (excl. other income)10.07%
Operating margin (incl. other income)10.17%
EBITDA margin10.17%
Pre-tax margin7.53%
Net profit margin5.41%
ROE16.05%
ROCE17.60%
ROA9.39%
ROE, 3-year average12.77%
ROCE, 3-year average14.33%
ROA, 3-year average6.97%
ROE, 5-year average13.31%
ROCE, 5-year average14.24%
ROA, 5-year average6.66%
ROIC (approx.)12.32%
Tax rate28.11%
Other income / net worth0.29%
Growth
Sales growth (latest year)5.76%
Profit growth (latest year)151.61%
Sales CAGR, 3 years3.89%
Sales CAGR, 5 years9.23%
Profit CAGR, 3 years27.65%
Profit CAGR, 5 years49.34%
Per share
EPS (TTM)Rs 8.72
EPS (latest year)Rs 8.72
EPS, 3-year averageRs 5.89
EPS, 5-year averageRs 6.15
Book value per shareRs 58.68
Sales per shareRs 160.99
Cash flow per shareRs 8.89
Free cash flow per shareRs 2.46
Efficiency
Asset turnover1.68x
Fixed asset turnover4.05x
Inventory turnover7.73x
Inventory days47 days
Debtor days81 days
Debtors turnover4.49x
Creditor days19 days
Cash conversion cycle189 days
Working capital days125 days
Leverage
Total debtRs 5 Cr
Cash and bankRs 0 Cr
Net debtRs 5 Cr
Debt to equity0.45x
Net debt / EBITDA1.59x
Interest coverage6.05x
Owners' fund to total sources61.26%
Debt to assets27.30%
Cash flow
Cash from Operating Activity (latest year)Rs 2 Cr
Cash from Investing Activity (latest year)Rs -1 Cr
Cash from Financing Activity (latest year)Rs -0 Cr
Free cash flow (latest year)Rs 0 Cr
FCFE (approx.: FCF + change in debt)Rs -0 Cr
Cash from ops / profit, 5 years0.64x
Sales to cash flow18.12x
Statement figures
Net sales (TTM)Rs 29 Cr
Net sales (latest year)Rs 29 Cr
Operating profit excl. other income (latest year)Rs 3 Cr
Other income (TTM)Rs 0 Cr
EBITDA (TTM)Rs 3 Cr
PBDT (TTM)Rs 2 Cr
Profit before tax (TTM)Rs 2 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 2 Cr
Depreciation (TTM)Rs 0 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 22 Cr
Total expenditure (latest year)Rs 26 Cr
Total income (latest year)Rs 29 Cr
Share capitalRs 2 Cr
ReservesRs 9 Cr
Shareholders' fundsRs 10 Cr
Total assetsRs 17 Cr
Net blockRs 7 Cr
InvestmentsRs 0 Cr
ReceivablesRs 6 Cr
InventoryRs 3 Cr
Other liabilitiesRs 2 Cr
Shares outstanding (crore)0.18
Ownership
Promoter holding69.42% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 16.8 is at the 7th percentile of its own 4.5-year range
(median 35.2, low 10.7, high 78.2).
P/B 2.49 is at the 19th percentile (median 3.65).
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 | SPRL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | +27.5% | -2.8% | +30.3 pts |
| 1 month | +57.2% | -6.8% | +64.0 pts |
| 3 months | +26.1% | -7.6% | +33.8 pts |
| 6 months | +17.5% | +0.4% | +17.1 pts |
| 1 year | -6.0% | -9.9% | +4.0 pts |
| 3 years | +52.3% | +14.2% | +38.1 pts |
Red flags
F-score 7 of 8No red flags in the latest statements and filings.
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
Mar 2026Sales ₹12 Cr -20.4% vs Mar 2024.
Net profit ₹1 Cr +64.2%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Graphite India Ltd | 15,660 | 71.5 | 4.58 % |
| Vesuvius India Ltd | 8,122 | 31.7 | 21.3 % |
| RHI Magnesita India Ltd | 8,120 | 43.4 | 6.46 % |
| Raghav Productivity Enhancers Ltd | 7,890 | 126 | 30.3 % |
| HEG Advanced Materials Ltd | 4,598 | 13.0 | 8.35 % |
| Monolithisch India Ltd | 2,782 | 96.6 | 34.8 % |
| IFGL Refractories Ltd | 1,367 | 31.9 | 4.92 % |
| Foseco Crucible (India) Ltd | 1,113 | 28.3 | 33.2 % |
| Orient Ceratech Ltd | 535 | 15.9 | 11.4 % |
| DE Nora India Ltd | 393 | 32.3 | 5.83 % |
| Panasonic Carbon India Company Ltd | 190 | 9.90 | 16.8 % |
| Royal Arc Electrodes Ltd | 166 | 16.6 | 18.0 % |
| Refractory Shapes Ltd | 89 | 18.6 | 10.7 % |
| Nilachal Refractories Ltd | 77 | -6.32 % | |
| Auro Impex & Chemicals Ltd | 52 | 12.6 | 10.1 % |
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.
Close to Close price movement greater than 25perc in previous 15 DaysClose to Close price movement greater than 40perc in previous 15 trading daysHigh low price variation greater than 150perc in previous 12 monthsLess than 100 unique PAN traded in previous 30 daysMandatory Market making period in SME scrip is overSME scrip is not regularly traded
Quick answers
What is the market cap of SP Refractories Ltd?
SP Refractories Ltd (SPRL) has a market capitalisation of Rs 22.6 Cr. at the 2026-10-01 close.
What is the P/E ratio of SP Refractories Ltd?
SP Refractories Ltd trades at a P/E of 6.41 on trailing twelve-month profit, at the 2026-10-01 close.
What were SP Refractories Ltd's latest quarterly results?
In the Mar 2026 quarter, SP Refractories Ltd sales was Rs 12 Cr (-20.4% vs Mar 2024) and net profit was Rs 1 Cr.
What is the 52-week high and low of SP Refractories Ltd?
The 52-week high is Rs 199.40 and the 52-week low is Rs 74.50.