1. India Stocks

  2. •

    Non-energy minerals

  3. •

    Construction materials
SP Refractories Ltd.

SP Refractories Ltd.

NNSE:SPRL
140.25
INR
-5.95
(-4.07%)
207.40MMarket Cap
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
103.53
117.16
143.59
210.1
152.2
161
169.06
157.32
- -
Basic EPS, GAAP
1.15
2.23
4.21
6.56
3.44
8.71
11.68
19.72
- -
Free Cash Flow per Basic Share
4.68
4.44
-3.67
5.34
2.28
8.86
8.37
7.3
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
19.77
21.89
26.1
46.52
49.96
58.67
70.35
90.07
90.07
Tangible Book Value per Share
19.77
21.89
26.1
46.52
49.96
58.67
70.35
90.07
90.07
Basic Weighted Avg Shares
2
2
2
2
2
2
2
2
2
Sales/Revenue/Turnover
185
210
257
315
272
288
303
282
- -
Operating Margin (%)
3.49
4.61
4.85
5.57
4.78
9.14
10.32
17.29
- -
Depreciation Expense
2
2
2
2
2
3
4
4
- -
Net Income, GAAP
2
4
8
10
6
16
21
35
- -
Effective Tax Rate (%)
26.83
27.7
27.93
27.78
26
28.12
25.16
25.53
- -
Profit Margin (%)
1.11
1.9
2.93
3.12
2.26
5.41
6.91
12.54
- -
Working Capital
15
12
30
46
46
54
68
96
96
LT Debt
5
3
3
12
21
21
12
9
9
Total Equity
35
39
47
83
89
105
126
161
161
Return on Invested Capital (%)
- -
9.1
10.5
10.8
6.49
12.34
13.96
20.68
- -
Return on Capital (%)
- -
9.39
10.94
11.76
6.62
12.63
14.58
21.28
- -
Return on Common Equity (%)
- -
10.71
17.55
15.15
7.13
16.04
18.11
24.59
- -

Capital Structure

INR

•

in mil. unless spec.
Mar'24
Sep'26
Mar'26
ST Debt
26
4
1
LT Borrowings
21
11
9
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
2
2
2
Market Capitalization
260
245
207

Working Capital

INR

•

in mil. unless spec.
Mar'24
Sep'26
Mar'26
Total Current Assets
99
119
110
Cash, Cash Equivalents & STI
- -
- -
- -
Accounts Receivable, Net
64
78
49
Inventories
29
27
54
Total Current Liabilities
45
29
14
Payables & Accruals
- -
- -
- -
ST Debt
26
4
1
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
30.2%
28.03%
Free Cash Flow
- -
-0.29%
-12.79%
Net Income, GAAP
- -
49.85%
68.8%
Sales/Revenue/Turnover
- -
2.58%
-6.95%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
288
2025
- -
- -
303
2026
- -
- -
282

Semi-annual Earnings Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
8.71
2025
- -
- -
11.68
2026
- -
- -
19.72

Semi-annual Dividends Per Share

INR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Shweta Prabodh Kale
Full Time Employees
26
Sector
Non-energy minerals
Industry
Construction materials
Address
M-10, MIDC Industrial Area, Hingna Road Nagpur MA India 440016
IPO Date
Mar 22, 2022
Website
sprefractories.com
Similar Companies
Ambuja Cements Limited (NSE:AMBUJACEM)
ACC Limited (NSE:ACC)
Grasim Industries Ltd. (NSE:GRASIM)
UltraTech Cement Limited (NSE:ULTRACEMCO)
OYAK Cimento Fabrikalari A.S. (BIST:OYAKC)
Cimsa Cimento Sanayi ve Ticaret A.S. (BIST:CIMSA)
Business
SP Refractories Limited (SPRL.NS) manufactures and supplies high-quality refractory materials made using premium-grade cement, aggregates, hydrated lime, calcined alumina, and other raw materials for the iron, steel, and construction industries. The company's core products include refractory cement and castables such as high alumina refractory cement, high purity high alumina dense castables, and low cement castables; it also provides customized solutions tailored to client specifications. With an annual production capacity of approximately 7,000 metric tons, SP Refractories serves major clients including Avon Refractories, Hazira Refractory, IFGL Refractories, and Orane Refractories, primarily operating from its manufacturing facility in Nagpur, Maharashtra, India. Founded in 2007 and headquartered at M-10, M-11/1 & M-11/2, MIDC Industrial Area, Hingna Road, Nagpur, Maharashtra 440016, the company focuses on niche, high-margin refractory cement with strong thermal conductivity, maximum strength, and heat resistance. In recent developments, SP Refractories reported earnings results for the full year ended March 31, 2025, and the half year ended September 30, 2024, alongside announcements of management changes, trading window closures, and an 18th Annual General Meeting notice in July 2025; the company has demonstrated consistent financial growth with net sales rising to INR 30.25 crore in March 2025 from INR 28.81 crore the prior year, profit after tax of INR 2.09 crore for FY2025, and a compound profit growth rate of 49% over five years.