SP Refractories
SP Refractories (SPRL) share price was ₹140.25 at the 5 Oct 2026 close; market capitalisation ₹25.14 Cr; sector Industrial Products. The share price fell 8.5% over the year to 5 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue fell 25.2% year on year to ₹11.85 Cr and net profit rose 18.8% year on year to ₹1.33 Cr (compared with Mar 2025). Promoters held 69.42% of SP Refractories in Mar 2026, unchanged from Sep 2025.
Key Fundamentals
SMEIndustrial ProductsCapital GoodsLast traded 5 Oct 2026 · TTM
Peer Comparison
Industrials › Industrial Products › Electrodes & Refractories
| ₹752.55 | 69.04 | 14,703 Cr | 2.51 | 0.93% | 2.92% | 4.45% | 3,378 Cr | 209 Cr | |
| ₹1,759.30 | 114.61 | 8,079 Cr | 28.69 | 0.06% | 22.41% | 27.71% | 318 Cr | 71 Cr | |
| ₹379.25 | 30.08 | 7,697 Cr | 4.40 | 0.39% | 15.87% | 20.96% | 2,194 Cr | 257 Cr | |
| ₹351.55 | — | 7,260 Cr | 2.04 | 0.69% | -10.76% | -7.21% | 4,110 Cr | -353 Cr | |
| ₹1,266.00 | 95.62 | 2,752 Cr | 18.11 | 0.00% | 17.62% | 23.90% | 181 Cr | 29 Cr | |
| ₹171.82 | 30.25 | 1,238 Cr | 1.05 | 1.31% | 2.95% | 4.88% | 1,962 Cr | 41 Cr | |
| ₹140.25 | — | 25 Cr | 1.56 | 0.71% | 21.89% | 28.07% | — | — | |
| ₹233.96 | — | — | — | — | — | — | — | — | |
| Median 8 companies | ₹365.40 | 69.04 | 7,260 Cr | 2.51 | 0.69% | 15.87% | 20.96% | 2,078 Cr | 56 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. How it works →
No Tapetide Score has been computed for this stock yet.
Key Insights
Strengths
2- Company has reduced debt.
- Company is almost debt free.
Weaknesses
1- The company has delivered a poor sales growth of 1.85% over past five years.
Technical Indicators
Oscillators
Neutral
Overall
Bullish
Moving Averages
Bullish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 17.3% · Mar 2026
Quarterly Results
| Particulars | 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 | 14.6 | 12.63 | 13.94 | 14.88 | 14.41 | 15.85 | 16.3 | 11.85 |
| Expenses | 15.49 | 13.14 | 16.39 | 14.03 | 11.72 | 12.58 | 13.36 | 12.72 | 14.02 | 13.06 | 9.8 |
| 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% | 3.9% | 7.21% | 9.76% | 10.22% | 11.73% | 11.55% | 19.88% | 17.3% |
| Other Income | 0.02 | 0 | 0.01 | 0.01 | 0 | 0 | 0.03 | 0 | 0.01 | 0 | 0.02 |
| Interest | 0.12 | 0.12 | 0.29 | 0.26 | 0.15 | 0.14 | 0.28 | 0.18 | 0.16 | 0.1 | 0.05 |
| Depreciation | 0.12 | 0.12 | 0.1 | 0.12 | 0.12 | 0.18 | 0.15 | 0.2 | 0.2 | 0.21 | 0.21 |
| PBT | 0.3 | 1.09 | 0.27 | 0.2 | 0.64 | 1.04 | 1.12 | 1.31 | 1.48 | 2.93 | 1.81 |
| Tax % | 26.67% | 25.69% | 37.04% | 25% | 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 | 2.2 | 1.33 |
| EPS (₹) | 1.47 | 5.43 | 1.01 | 0.78 | 2.63 | 4.19 | 4.53 | 5.42 | 6.26 | 12.29 | 7.43 |
Profit & Loss
| Particulars | 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 | 1.48 | 2.9 | 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 | 0.4 | 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 | 0.4 | 0.42 |
| PBT | 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 | 0.4 | 0.75 | 0.98 | 0.62 | 1.56 | 2.09 | 3.53 |
| EPS (₹) | 1.4 | 2.67 | 5.03 | 5.48 | 3.46 | 8.72 | 11.68 | 19.73 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.5 | 0.5 | 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 | 10.8 | 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 | 1.9 | 1.74 | 1.96 | 1.85 | 1.59 |
| Total Liabilities | 7.92 | 8.99 | 10.57 | 15.29 | 16.1 | 17.14 | 18.88 | 18.77 |
| Fixed Assets | 2.07 | 2.01 | 1.9 | 4.04 | 3.89 | 7.12 | 7.11 | 7.55 |
| CWIP | 0 | 0 | 0 | 0.76 | 2.41 | 0 | 0 | 0 |
| Investments | 0 | 0 | 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 | 16.1 | 17.14 | 18.88 | 18.77 |
Cash Flow
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Operating | 0.84 | 0.79 | -0.66 | 0.8 | 0.41 | 1.59 | 1.5 | 1.31 |
| Investing | -0.17 | -0.16 | -0.11 | -3.13 | -1.73 | -1.15 | -0.38 | -0.89 |
| Financing | -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 | 0 | 0 |
| Free Cash Flow | 0.65 | 0.63 | -0.79 | -2.34 | -1.33 | 0.44 | 1.11 | 0.44 |
| CFO/EBITDA | 105 | 80 | -24 | 60 | 44 | 73 | 61 | 47 |
Ratios
| Particulars | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 78.99 | 77.8 | 98.74 | 70.2 | 81.6 | 81.21 | 76.5 | 63.92 |
| Inventory Days | 33.01 | 31.72 | 27.69 | 37.05 | 54.34 | 58.31 | 100 | 145 |
| Days Payable | 3.85 | 9.85 | 20.12 | 24.48 | 24.49 | 23.41 | 19.54 | 19.39 |
| Cash Conversion Cycle | 108 | 99.67 | 106 | 82.76 | 111 | 116 | 157 | 189 |
| Working Capital Days | 28.36 | 20.71 | 42.91 | 44.02 | 62.17 | 68.67 | 82.05 | 125 |
| ROCE % | — | 13.05% | 15.14% | 16.38% | 9.01% | 17.6% | 19.43% | 28.59% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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53 extracted metrics + investor summaries across FY19–FY26.
Documents
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Company Information
Incorporated in 2007, SP Refractories Ltd manufactures and supplies refractory material[1]
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