Refractory Shapes Ltd.
•₹ 27.354.59%
2026-08-21
PROS
- Company comfortably covers its interest (10.8x coverage)
- Attractively priced for its growth - PEG of 0.8
- Company maintains a comfortable, low leverage position
CONS
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.22x)
- Working capital days have increased from 60 to 139 days
- Free cash flow has been persistently negative
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | VESUVIUS | 433.00 | 0.00 | 8788.20 | 0.35 | 58.51 | -7.13 | 536.17 | 2.41 | 23.15 | 16.16 |
| 2. | RHIM | 375.00 | 0.00 | 7743.80 | 0.67 | 64.61 | 83.19 | 1013.97 | 5.59 | 7.24 | 13.58 |
| 3. | RPEL | 1636.15 | 119.84 | 7513.52 | 0.06 | 19.57 | 67.60 | 86.91 | 48.72 | 31.26 | 29.62 |
| 4. | IFGLEXPOR | 221.05 | 38.91 | 1593.30 | 0.97 | 170.60 | 1478.17 | 5123.70 | 1028.54 | 4.62 | 7.22 |
| 5. | ORIENTCER | 42.84 | 19.62 | 512.53 | 0.82 | 8.57 | 99.19 | 100.65 | 2.23 | 6.18 | 16.11 |
| 6. | REFRACTORY | 26.10 | 11.88 | 56.90 | 0.00 | — | — | — | — | 16.60 | — |
| 7. | DALMIAREF | 112.50 | 5.17 | 35.46 | 0.89 | — | — | — | — | 5.89 | — |
Detailed Comparison with:
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
No standalone quarterly results found
We don't have this information yet. Please check back later.
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 21 | 26 | 38 | 41 | 59 | |
| 19 | 22 | 34 | 34 | 48 | |
| Operating Profit | 3 | 4 | 5 | 9 | 11 |
| OPM % | 16 | 17 | 12 | 22 | 19 |
| Other Income | 1 | 1 | 1 | 2 | 1 |
| Interest | 1 | 1 | 1 | 2 | 1 |
| Depreciation | 0 | 0 | 1 | 2 | 2 |
| 2 | 4 | 2 | 5 | 8 | |
| Tax % | 26 | 22 | 27 | 25 | 25 |
| Net Profit | 2 | 3 | 2 | 4 | 6 |
| EPS | 1,564 | 2,870 | 1,813 | 3 | 3 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 2 | 1 | 3 | 3 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 1 | 2 | 1 | 3 | 3 |
Mar 2021
- 21
- 19
- Operating Profit
- 3
- OPM %
- 16
- Other Income
- 1
- Interest
- 1
- Depreciation
- 0
- 2
- Tax %
- 26
- Net Profit
- 2
- EPS
- 1,564
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2022
- 26
- 22
- Operating Profit
- 4
- OPM %
- 17
- Other Income
- 1
- Interest
- 1
- Depreciation
- 0
- 4
- Tax %
- 22
- Net Profit
- 3
- EPS
- 2,870
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 2
Mar 2023
- 38
- 34
- Operating Profit
- 5
- OPM %
- 12
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 2
- Tax %
- 27
- Net Profit
- 2
- EPS
- 1,813
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2024
- 41
- 34
- Operating Profit
- 9
- OPM %
- 22
- Other Income
- 2
- Interest
- 2
- Depreciation
- 2
- 5
- Tax %
- 25
- Net Profit
- 4
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2025
- 59
- 48
- Operating Profit
- 11
- OPM %
- 19
- Other Income
- 1
- Interest
- 1
- Depreciation
- 2
- 8
- Tax %
- 25
- Net Profit
- 6
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 32%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 28%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- -77%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 17%
- 3 Years:
- 17%
- Last Year:
- 19%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - |
| Equity Capital | 0 | 0 | 0 | 16 | 22 |
| 12 | 15 | 16 | 4 | 23 | |
| 4 | 5 | 9 | 12 | 7 | |
| Trade Payables | 2 | 5 | 11 | 6 | 5 |
| 10 | 12 | 13 | 13 | 12 | |
| Total Liabilities | 27 | 37 | 49 | 51 | 69 |
| ASSETS | - | - | - | - | - |
| 7 | 8 | 19 | 19 | 20 | |
| Capital Work in Progress | 0 | 5 | 0 | 0 | 6 |
| 0 | 6 | 6 | 6 | 6 | |
| 2 | 3 | 9 | 14 | 17 | |
| 0 | 0 | 0 | 7 | 13 | |
| Cash & Bank | 8 | 6 | 4 | 3 | 4 |
| 10 | 8 | 11 | 2 | 3 | |
| Total Assets | 27 | 37 | 49 | 51 | 69 |
| Total Debt | 12 | 16 | 20 | 24 | 17 |
| Net Working Capital | 14 | 6 | 3 | 7 | 22 |
| Contingent Liabilities | 1 | 2 | 0 | 0 | 0 |
| Book Value per Share | 11898.60 | 14769.00 | 16271.80 | 12.85 | 20.62 |
| Face Value | 100.00 | 100.00 | 100.00 | 10.00 | 10.00 |
| Total Debt | 12 | 16 | 20 | 24 | 17 |
| Net Working Capital | 14 | 6 | 3 | 7 | 22 |
| Contingent Liabilities | 1 | 2 | 0 | 0 | 0 |
| Book Value per Share | 11898.60 | 14769.00 | 16271.80 | 12.85 | 20.62 |
| Face Value | 100.00 | 100.00 | 100.00 | 10.00 | 10.00 |
Mar 2021
- Equity Capital
- 0
- 12
- 4
- Trade Payables
- 2
- 10
- Total Liabilities
- 27
- 7
- Capital Work in Progress
- 0
- 0
- 2
- 0
- Cash & Bank
- 8
- 10
- Total Assets
- 27
- Total Debt
- 12
- Net Working Capital
- 14
- Contingent Liabilities
- 1
- Book Value per Share
- 11898.60
- Face Value
- 100.00
- Total Debt
- 12
- Net Working Capital
- 14
- Contingent Liabilities
- 1
- Book Value per Share
- 11898.60
- Face Value
- 100.00
Mar 2022
- Equity Capital
- 0
- 15
- 5
- Trade Payables
- 5
- 12
- Total Liabilities
- 37
- 8
- Capital Work in Progress
- 5
- 6
- 3
- 0
- Cash & Bank
- 6
- 8
- Total Assets
- 37
- Total Debt
- 16
- Net Working Capital
- 6
- Contingent Liabilities
- 2
- Book Value per Share
- 14769.00
- Face Value
- 100.00
- Total Debt
- 16
- Net Working Capital
- 6
- Contingent Liabilities
- 2
- Book Value per Share
- 14769.00
- Face Value
- 100.00
Mar 2023
- Equity Capital
- 0
- 16
- 9
- Trade Payables
- 11
- 13
- Total Liabilities
- 49
- 19
- Capital Work in Progress
- 0
- 6
- 9
- 0
- Cash & Bank
- 4
- 11
- Total Assets
- 49
- Total Debt
- 20
- Net Working Capital
- 3
- Contingent Liabilities
- 0
- Book Value per Share
- 16271.80
- Face Value
- 100.00
- Total Debt
- 20
- Net Working Capital
- 3
- Contingent Liabilities
- 0
- Book Value per Share
- 16271.80
- Face Value
- 100.00
Mar 2024
- Equity Capital
- 16
- 4
- 12
- Trade Payables
- 6
- 13
- Total Liabilities
- 51
- 19
- Capital Work in Progress
- 0
- 6
- 14
- 7
- Cash & Bank
- 3
- 2
- Total Assets
- 51
- Total Debt
- 24
- Net Working Capital
- 7
- Contingent Liabilities
- 0
- Book Value per Share
- 12.85
- Face Value
- 10.00
- Total Debt
- 24
- Net Working Capital
- 7
- Contingent Liabilities
- 0
- Book Value per Share
- 12.85
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 22
- 23
- 7
- Trade Payables
- 5
- 12
- Total Liabilities
- 69
- 20
- Capital Work in Progress
- 6
- 6
- 17
- 13
- Cash & Bank
- 4
- 3
- Total Assets
- 69
- Total Debt
- 17
- Net Working Capital
- 22
- Contingent Liabilities
- 0
- Book Value per Share
- 20.62
- Face Value
- 10.00
- Total Debt
- 17
- Net Working Capital
- 22
- Contingent Liabilities
- 0
- Book Value per Share
- 20.62
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 5 | 8 | 4 | -3 | 1 | |
| Cash from Investing | 0 | -12 | -7 | -2 | -10 |
| Cash from Financing | -5 | 3 | 1 | 3 | 10 |
| 0 | -1 | -2 | -1 | 1 | |
| Free Cash Flow | 5 | 1 | -3 | -5 | -9 |
| OCF / Net Profit | 3.31 | 2.64 | 2.29 | -0.63 | 0.18 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
| OCF / Net Profit | 3.31 | 2.64 | 2.29 | -0.63 | 0.18 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 0 |
Mar 2021
- 5
- Cash from Investing
- 0
- Cash from Financing
- -5
- 0
- Free Cash Flow
- 5
- OCF / Net Profit
- 3.31
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.31
- Cumulative 5-Year FCF
- 0
Mar 2022
- 8
- Cash from Investing
- -12
- Cash from Financing
- 3
- -1
- Free Cash Flow
- 1
- OCF / Net Profit
- 2.64
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.64
- Cumulative 5-Year FCF
- 0
Mar 2023
- 4
- Cash from Investing
- -7
- Cash from Financing
- 1
- -2
- Free Cash Flow
- -3
- OCF / Net Profit
- 2.29
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.29
- Cumulative 5-Year FCF
- 0
Mar 2024
- -3
- Cash from Investing
- -2
- Cash from Financing
- 3
- -1
- Free Cash Flow
- -5
- OCF / Net Profit
- -0.63
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.63
- Cumulative 5-Year FCF
- 0
Mar 2025
- 1
- Cash from Investing
- -10
- Cash from Financing
- 10
- 1
- Free Cash Flow
- -9
- OCF / Net Profit
- 0.18
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.18
- Cumulative 5-Year FCF
- 0
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - |
| EPS (₹) | 1563.90 | 2870.40 | 1813.50 | 2.55 | 2.77 |
| Book Value (₹) | 11898.60 | 14769.00 | 16271.80 | 12.85 | 20.62 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 1.23 | 2.04 | 1.82 | 3.77 | 3.90 |
| PROFITABILITY | - | - | - | - | - |
| Operating Margin % | 15.57% | 16.97% | 12.20% | 15.71% | 17.53% |
| Net Margin % | 7.49% | 11.26% | 4.78% | 9.93% | 10.29% |
| ROE % | 13.14% | 21.53% | 11.68% | 22.01% | 18.54% |
| ROCE % | 11.82% | 15.71% | 10.65% | 17.18% | 16.80% |
| 5.74% | 8.96% | 4.24% | 8.05% | 10.06% | |
| EFFICIENCY | - | - | - | - | - |
| Debtor Days | 132 | 98 | 66 | 66 | 61 |
| Inventory Days | 41 | 41 | 57 | 101 | 95 |
| Payable Days | 43 | 87 | 175 | 185 | 81 |
| 130 | 52 | -52 | -19 | 75 | |
| FINANCIAL HEALTH | - | - | - | - | - |
| Debt to Equity (x) | 1.04x | 1.06x | 1.25x | 1.16x | 0.38x |
| Interest Coverage (x) | 3.83x | 7.20x | 3.30x | 4.42x | 10.82x |
| 3.08x | 1.53x | 1.13x | 1.34x | 2.63x | |
| GROWTH | - | - | - | - | - |
| Revenue Growth % | 0.00% | 22.09% | 48.88% | 6.80% | 44.93% |
| Operating Profit Growth % | 0.00% | 33.04% | 7.01% | 91.00% | 28.34% |
| Net Profit Growth % | 0.00% | 83.54% | -36.82% | 121.94% | 50.30% |
| 0.00% | 0.00% | 0.00% | -99.86% | 8.94% | |
| VALUATION | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 23.51x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 3.16x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 4.08x | 13.68x |
Mar 2021
- EPS (₹)
- 1563.90
- Book Value (₹)
- 11898.60
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.23
- Operating Margin %
- 15.57%
- Net Margin %
- 7.49%
- ROE %
- 13.14%
- ROCE %
- 11.82%
- 5.74%
- Debtor Days
- 132
- Inventory Days
- 41
- Payable Days
- 43
- 130
- Debt to Equity (x)
- 1.04x
- Interest Coverage (x)
- 3.83x
- 3.08x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 2870.40
- Book Value (₹)
- 14769.00
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 2.04
- Operating Margin %
- 16.97%
- Net Margin %
- 11.26%
- ROE %
- 21.53%
- ROCE %
- 15.71%
- 8.96%
- Debtor Days
- 98
- Inventory Days
- 41
- Payable Days
- 87
- 52
- Debt to Equity (x)
- 1.06x
- Interest Coverage (x)
- 7.20x
- 1.53x
- Revenue Growth %
- 22.09%
- Operating Profit Growth %
- 33.04%
- Net Profit Growth %
- 83.54%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 1813.50
- Book Value (₹)
- 16271.80
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 1.82
- Operating Margin %
- 12.20%
- Net Margin %
- 4.78%
- ROE %
- 11.68%
- ROCE %
- 10.65%
- 4.24%
- Debtor Days
- 66
- Inventory Days
- 57
- Payable Days
- 175
- -52
- Debt to Equity (x)
- 1.25x
- Interest Coverage (x)
- 3.30x
- 1.13x
- Revenue Growth %
- 48.88%
- Operating Profit Growth %
- 7.01%
- Net Profit Growth %
- -36.82%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 2.55
- Book Value (₹)
- 12.85
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.77
- Operating Margin %
- 15.71%
- Net Margin %
- 9.93%
- ROE %
- 22.01%
- ROCE %
- 17.18%
- 8.05%
- Debtor Days
- 66
- Inventory Days
- 101
- Payable Days
- 185
- -19
- Debt to Equity (x)
- 1.16x
- Interest Coverage (x)
- 4.42x
- 1.34x
- Revenue Growth %
- 6.80%
- Operating Profit Growth %
- 91.00%
- Net Profit Growth %
- 121.94%
- -99.86%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 4.08x
Mar 2025
- EPS (₹)
- 2.77
- Book Value (₹)
- 20.62
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 3.90
- Operating Margin %
- 17.53%
- Net Margin %
- 10.29%
- ROE %
- 18.54%
- ROCE %
- 16.80%
- 10.06%
- Debtor Days
- 61
- Inventory Days
- 95
- Payable Days
- 81
- 75
- Debt to Equity (x)
- 0.38x
- Interest Coverage (x)
- 10.82x
- 2.63x
- Revenue Growth %
- 44.93%
- Operating Profit Growth %
- 28.34%
- Net Profit Growth %
- 50.30%
- 8.94%
- P/E (x)
- 23.51x
- P/B (x)
- 3.16x
- Dividend Yield %
- 0.00%
- 13.68x
Documents
Announcements
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Annual Reports
Credit Ratings
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Concalls
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