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Refractory Shapes

REFRACTORY NSE
₹47.00 up 2.15 (4.79%)
Market Cap
₹102 Cr
P/E
42.73

Refractory Shapes (REFRACTORY) share price was ₹44.85 at the 28 Oct 2026 close; market capitalisation ₹97.77 Cr; P/E (TTM) 40.77; sector Industrial Products. The share price fell 3.4% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue fell 35.8% year on year to ₹22.61 Cr and net profit fell 95.2% year on year to ₹0.15 Cr (compared with Mar 2025). Promoters held 72.48% of Refractory Shapes in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 47/100 (Average) as of 28 Oct 2026.

Close 28 Oct 2026 ₹44.85 −3.90 −8.00% 1Y

Key Fundamentals

SMEIndustrial ProductsCapital Goods
Market Cap
₹102 Cr
P/E (TTM)
42.73
EBITDA
₹9.50 Cr
Return on Equity
8.96%
Debt to Equity
0.39
Book Value
₹23.16
EPS (TTM)
₹1.10
52W High
₹61.20
52W Low
₹23.15

Price-based figures as of 29 Oct 2026, 09:51 IST · TTM

Peer Comparison

Industrials › Industrial Products › Electrodes & Refractories

Graphite
₹750.3068.8314,659 Cr2.500.93%2.92%4.45%3,378 Cr209 Cr
Raghav Productivity Enhancers
₹1,761.10114.738,087 Cr28.720.06%22.41%27.71%318 Cr71 Cr
Vesuvius
₹378.0029.987,672 Cr4.390.39%15.87%20.96%2,194 Cr257 Cr
RHI Magnesita
₹352.00—7,269 Cr2.040.69%-10.76%-7.21%4,110 Cr-353 Cr
Monolithisch
₹1,266.0095.622,752 Cr18.110.00%17.62%23.90%181 Cr29 Cr
IFGL Refractories
₹174.9530.801,261 Cr1.071.31%2.95%4.88%1,962 Cr41 Cr
Refractory Shapes (this company)
₹47.0042.73102 Cr2.030.00%8.96%11.85%23 Cr2 Cr
HEG Advanced Materials
₹233.01————————
Median 8 companies₹365.0055.787,269 Cr2.500.39%8.96%11.85%1,962 Cr41 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

47 Average
Overall score

Data confidence 100/100

surveillance:ESM1

Category scores

Quality Good 56
Returns, margins, earnings quality 22% weight
Valuation Poor 28
Cheap vs sector & own history 24% weight
Growth Poor 31
Sales & profit trajectory 9% weight
Financial Health Good 57
Solvency, leverage, coverage 9% weight
Momentum Strong 83
Trend strength, vol-adjusted 12% weight
Ownership Weak 41
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Weaknesses

1
  • Though the company is reporting repeated profits, it is not paying out dividend

Technical Indicators

Oscillators

Bearish

Bearish
5
Neutral
1
Bullish
3

Overall

Bullish

Bearish
5
Neutral
1
Bullish
13

Moving Averages

Bullish

Bearish
0
Neutral
0
Bullish
10

Growth Rate

Revenue Growth
-2.01% lower than 3Y

change over 1 year

Net Income Growth
-25% lower than 3Y

change over 1 year

Cash Flow Change
35.85%

change over 1 year

EBITDA Margin Change
-14.44%

change over 1 year Operating margin 2.52% · Mar 2026

Quarterly Results

Particulars Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026
Sales
19.18
21.38
23.54
35.24
34.43
22.61
Expenses
13.85
20.34
18.56
29.92
27.02
22.04
Operating Profit
5.33
1.04
4.98
5.32
7.41
0.57
OPM %
27.79%
4.86%
21.16%
15.1%
21.52%
2.52%
Other Income
0.37
2.1
0.69
0.36
0.36
1.17
Interest
0.71
0.85
0.28
0.54
0.58
0.5
Depreciation
1.88
0.06
1.13
1.33
1.17
1.21
PBT
3.11
2.23
4.26
3.81
6.02
0.03
Tax %
25.08%
24.22%
26.06%
24.15%
25.08%
0%
Net Profit
2.33
1.83
3.15
3.11
4.64
0.15
EPS (₹)
—
1.16
1.44
1.43
2.13
0.07
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Sales
37.97
40.36
58.77
57.04
Expenses
34.1
33.99
48.47
49.06
Operating Profit
3.87
6.37
10.3
7.98
OPM %
10.19%
15.78%
17.53%
13.99%
Other Income
0.86
2.61
1.05
1.53
Interest
1.08
1.56
0.82
1.08
Depreciation
1.06
1.94
2.46
2.39
PBT
2.59
5.48
8.07
6.04
Tax %
25.87%
24.09%
25.03%
25%
Net Profit
1.92
4.16
6.26
4.79
EPS (₹)
—
2.63
2.87
2.2
Div. Payout %
0%
0%
0%
0%
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.1
15.8
21.8
21.8
Reserves
16.59
5.04
23.9
28.69
Borrowings
20.32
23.52
17.06
19.84
Other Liabilities
12.12
7.45
7.14
6.78
Total Liabilities
49.13
51.81
69.9
77.11
Fixed Assets
18.92
19.05
26.73
25.98
CWIP
0
0
0
0
Investments
6.24
6.37
6.58
6.85
Other Assets
23.97
26.39
36.59
44.28
Total Assets
49.13
51.81
69.9
77.11
Figures in ₹ Crores

Cash Flow

Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Operating
4.14
-2.54
1.06
1.44
Investing
-6.83
-1.82
-10.49
-1.33
Financing
0.89
3.18
10.14
2.79
Net Cash Flow
-1.79
-1.18
0.71
2.9
Free Cash Flow
-2.91
-4.9
-9.06
-0.21
CFO/EBITDA
127
-36
33
40
Figures in ₹ Crores

Ratios

Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
73.73
62.85
78.81
73.4
Inventory Days
193
309
246
338
Days Payable
246
127
79.26
78.17
Cash Conversion Cycle
20.46
245
246
333
Working Capital Days
-15.86
30.39
114
126
ROCE %
—
17.3%
16.6%
10.7%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Refractory Shapes insights

56 extracted metrics + investor summaries across FY23–FY26.

Shareholding Pattern

FIIs0.40%Promot.72.48%Others4.47%Public22.65%As ofSep 2026

Documents

Frequently Asked Questions about Refractory Shapes

What does Refractory Shapes Ltd do?
Incorporated in 1996, Refractory Shapes Ltd manufactures and trades special shapes, custom-made refractory shapes, and alumina balls[1]
Where is Refractory Shapes Ltd (REFRACTORY) listed?
Refractory Shapes Ltd trades as REFRACTORY on the NSE.
Which sector does Refractory Shapes Ltd belong to?
Refractory Shapes Ltd is classified under the Industrial Products sector, in the Electrodes & Refractories industry.
What is the market capitalisation of Refractory Shapes Ltd?
Refractory Shapes Ltd has a market capitalisation of ₹102.46 Cr as of 29 Oct 2026, which places it in the Small Cap band.
What is the PE ratio of Refractory Shapes Ltd?
Refractory Shapes Ltd trades at a PE ratio of 42.73 as of 29 Oct 2026, on earnings per share of ₹1.1, against a book value of ₹23.16 per share.
What is the 52-week high and low of Refractory Shapes Ltd?
Over the last 52 weeks Refractory Shapes Ltd has traded between ₹23.15 and ₹61.2 as of 29 Oct 2026.
What is the Return on Equity (ROE) of Refractory Shapes Ltd?
Refractory Shapes Ltd reported a return on equity of 8.96%. Its debt-to-equity ratio is 0.39.

Company Information

Incorporated in 1996, Refractory Shapes Ltd manufactures and trades special shapes, custom-made refractory shapes, and alumina balls[1]

Website refshape.com
Listed 2024-05-14
Face Value ₹ 10
Shares Outstanding 2,18,00,000

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