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Raasi Refractories Ltd (502271)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502271 NSE: Refractories | Small Cap | Raasi Refractories Share Price

₹14 0.00 (0.00%)

As on 08-Jun'26 16:59

Raasi Refractories Ltd (502271)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 502271 NSE: Refractories | Small Cap | Raasi Refractories Share Price

₹14 0.00 (0.00%)

As on 08-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹7 Cr.
Current Price
₹14
52-Week Low / High
₹14 / 31
TTM EPS
₹0.2
TTM Sales
₹55.2 Cr.
Book Value per Share
₹-27.7
P/E Ratio
62.25
Higher than its 5-year historical median
Industry PE
46.9
Price to Book (P/B)
-0.51
Higher than its 5-year historical median
Price to Sales (P/S)
0.12
Lower than its 5-year historical median
EV/EBITDA
14.44
In line with its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
13.60%
Underperforms industry median
Return on Assets (ROA)
0.17%
Operating Profit Margin
5.7%
Net Profit Margin
0.25%
Gross Profit Margin
2.2%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
-11.43%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-38.55%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-70%
Asset Quality
Promoter Holding
50.74%
Pledged shares (%) of Promoter's holding (%)
99.82%
Reserves
₹-18 Cr.
Equity
₹4.7 Cr.
Face Value
₹10
All Time Low / High
₹0.55 / 127.50

Raasi Refractories stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Raasi Refractories Ltd a good quality company?
Raasi Refractories Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Raasi Refractories Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Raasi Refractories Ltd vs industry peers?
Raasi Refractories Ltd revenue CAGR is -5.82%, compared to the industry median CAGR of 4.42%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Raasi Refractories Ltd?
Promoters hold 50.74% of the Raasi Refractories Ltd, with 99.82% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Raasi Refractories Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -2.2% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Raasi Refractories Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 2.2%-1.8%21.1%26.7%12.4%10.3%10.4%14.7%17.6%13.6%-
Value Creation
Index
NANA0.50.9-0.1-0.3-0.30.10.30.0-

Growth Parameters

Sales 9.77.221.841.348.220.962.959.140.335.755
Sales YoY Gr.--25.2%200.8%89.8%16.8%-56.6%200.8%-6.1%-31.7%-11.4%-
Adj EPS -10.5-6.71.54.92.60.82.41.80.60.20.2
YoY Gr.-NANA234.9%-47.2%-70.9%225.3%-25%-65.6%-68.3%-
BVPS (₹) -39.6-46.3-45-36.5-33.9-33.2-30.7-28.9-28.3-28.1-27.7
Adj Net
Profit
-5-3.20.72.31.20.41.20.90.30.10
Cash Flow from Ops. -3.41.1-6.40.910.84.50.321.80.71.2-
Debt/CF from Ops. -11.439.8-6.756.34.19.6162.11.240.126.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 15.6%-5.8%-17.2%-11.4%
Adj EPS NA-40%-56.6%-68.3%
BVPSNANANANA
Share Price -2.3% 11% 27.2% -49.2%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
28.415.7-3.2-12-7.3-2.2-7.7-6.2-2.2-0.7-0.8
Op. Profit
Mgn %
-23.410.525.812.88.714.95.36.28.25.7-1.8
Net Profit
Mgn %
-51.2-43.93.25.62.51.71.81.50.70.30.2
Debt to
Equity
-2.1-1.9-2-3-2.8-2.8-3.2-2-2.2-2.3-
Working Cap
Days
7021,102688420237449174215355421170
Cash Conv.
Cycle
3735792982281903431241382012423

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales9.677.2321.7541.2748.2220.9162.8959.0740.3335.72
Operating Expenses + 11.936.4716.1535.9844.0517.7959.5855.4337.0133.68
Manufacturing Costs3.392.473.533.739.405.630.730.690.670.59
Material Costs5.832.689.6729.0927.848.4942.3844.3128.9126.05
Employee Cost 1.550.330.430.720.150.140.220.250.220.23
Other Costs 1.150.982.512.456.663.5216.2410.177.206.81
Operating Profit -2.260.765.605.284.173.123.313.643.322.04
Operating Profit Margin (%) -23.4%10.5%25.8%12.8%8.7%14.9%5.3%6.2%8.2%5.7%
Other Income + 0.110.070.030.070.050.060.050.060.071.01
Exceptional Items 3.63002.4900000-0.01
Interest 2.822.823.743.512.302.492.512.232.362.26
Depreciation 1.071.191.210.290.300.290.290.430.800.75
Profit Before Tax -2.40-3.180.694.051.620.400.561.040.230.03
Tax 00000.410.05-0.590.17-0.06-0.06
Profit After Tax -2.40-3.180.694.051.210.351.150.860.300.09
PAT Margin (%) -24.9%-43.9%3.2%9.8%2.5%1.7%1.8%1.5%0.7%0.3%
Adjusted EPS (₹)-5.1-6.71.58.62.60.82.41.80.60.2
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Raasi Refractories - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -18.65-21.83-21.19-17.19-15.97-15.62-14.47-13.61-13.31-13.22
Share Capital 4.714.714.714.714.714.714.714.714.714.71
Reserves -23.36-26.54-25.90-21.90-20.69-20.34-19.19-18.32-18.03-17.94
Debt +36.1036.6942.8352.1844.4043.5045.6326.9729.3830.91
Long Term Debt36.1036.6921.6636.6829.7128.9027.1011.6114.0214.93
Short Term Debt0021.1715.5114.7014.6018.5215.3715.3715.98
Minority Interest0000000000
Trade Payables8.9210.1015.290.780.621.716.6912.3516.9610.87
Others Liabilities 7.019.6931.7710.916.576.796.6620.6420.8520.40
Total Liabilities 33.3934.6568.6946.6835.6136.3844.5146.3653.8748.96

Fixed Assets

Net Fixed Assets +8.697.496.486.206.125.845.556.546.195.44
Gross Block25.9525.9526.1426.1526.3726.3826.3827.8028.2528.25
Accumulated Depreciation17.2618.4519.6619.9520.2520.5420.8321.2622.0622.81
CWIP 2.602.652.662.682.682.682.682.682.682.68
Investments 0000000000
Inventories6.318.3114.735.857.128.718.270.337.707.58
Trade Receivables11.9913.4727.1424.8313.8612.3722.6134.4031.5829.66
Cash Equivalents 1.780.641.420.951.042.162.161.651.991.50
Others Assets 2.012.0916.276.184.814.623.230.763.742.11
Total Assets 33.3934.6568.6946.6835.6136.3844.5146.3653.8748.96

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -3.431.06-6.370.9310.754.520.2821.830.731.18
PBT -2.40-3.180.641.561.620.400.561.040.230.03
Adjustment 3.843.944.933.672.552.722.752.603.092.97
Changes in Working Capital -4.860.3-11.94-4.36.581.4-3.0318.19-2.59-1.82
Tax Paid 0000000000
Cash Flow From Investing Activity + -4.280.03-0.190.15-0.580.010.10-1.46-0.440.03
Capex -4.33-0.04-0.21-0.04-0.22-00-1.42-0.45-0
Net Investments 0000000000
Others 0.050.070.020.19-0.360.010.10-0.040.010.03
Cash Flow From Financing Activity + 9.11-2.236.93-1.20-10.08-3.40-0.39-20.880.05-1.70
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 11.930.58-4.90-0.99-6.97-0.80-1.80-15.502.410.92
Interest Paid -2.82-2.82-3.74-3.51-2.30-2.49-2.51-2.23-2.36-2.26
Dividend Paid 0000000000
Others 0015.573.30-0.81-0.103.93-3.16-0-0.36
Net Cash Flow 1.40-1.140.38-0.120.081.13-0-0.510.34-0.49

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio0.340.210.420.721.170.581.561.30.80.69
PAT to CFO Conversion(x)N/AN/A-9.230.238.8812.910.2425.382.4313.11
Working Capital Days
Receivable Days418.80635.40340.70229.80146.40228.90101.50176.20298.60312.90
Inventory Days195.40364.80193.309149.10138.1049.3026.6036.3078.10
Payable Days463.701,293.20478.90100.809.1050.1036.2078.40185195

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *99.8299.8299.8299.8299.8299.8299.8299.8299.8299.82
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Raasi Refractories Ltd FAQs

The current trading price of Raasi Refractories on 08-Jun-2026 16:59 is ₹14.00.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 07-Jun-2026 the market cap of Raasi Refractories stood at ₹6.60 Cr

The latest P/E ratio of Raasi Refractories as of 07-Jun-2026 is 62.25.

The latest P/B ratio of Raasi Refractories as of 07-Jun-2026 is -0.51.

The 52-week high of Raasi Refractories is ₹30.68 and the 52-week low is ₹13.75.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Raasi Refractories is ₹55.23 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Raasi Refractories Ltd is a average quality company.

The key valuation ratios of Raasi Refractories Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Raasi Refractories Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Raasi Refractories Ltd

Established in 1981, Raasi Refractories Limited (RRL) is a leading manufacturer and developer of high-quality refractory bricks and allied products. RRL manufactures high-quality refractory bricks and allied products for a wide range of applications in iron, steel, cement, non-ferrous, induction furnaces, petrochemical, fertiliser, power, aluminium and other related industry sectors. Raasi is the only publicly traded company in the sector in India.

RRL's wide range of refractory bricks and allied products include fire clay bricks, high alumina bricks, high alumina mortars, dense alumina bricks, magnesia carbon bricks, mortars and spinel bricks, direct bonded basic bricks, silica bricks, basic monolithics, spraying masses, pre-cast shapes, zircon mortars, patch ramming masses and dense castables.

Raasi Refractories is an experienced player in the manufacture of refractory bricks and allied products. It has a large production facility over an area of about 100 acres of land at Narketpally near Hyderabad.

The company has a huge production facility spread over 100 acres and equipped with state-of-the-art manufacturing facilities. The company has a production capacity of 70,000t of fired bricks, unfired bricks and 15,000t of monolithics.

Product range of the company includes:

  • Fire Clay Bricks- RRL offers a wide range of high-quality fire clay bricks used in reheating furnace bricks, fire clay bricks for steel casting pits, boilers, coke oven bricks, blast furnaces, induction furnaces, kilns, ladles, foundries, boilers, combustion chambers, etc. The fire clay bricks have Al 2O3% raging from 34 to 47, Fe2O3% ranging from 1.5 to 2.0, and apparent porosity percent ranging from 16 to 25.
  • High Alumina Bricks- Its high alumina bricks are used in steel refining furnaces, glass tanks, ceramic kilns, enamel kilns, rotary cement kilns and other various kilns and furnaces. The high alumina bricks have Al2O3% ranging from 50 to 99, Fe2O3% ranging from 0.2 to 3.0, and apparent porosity percent ranging from 15 to 23.
  • Special Basic Refractory- RRL supplies a wide range of refractory products that include alumina chrome refractory, alumina carbon refractory, alumina magnesia carbon refractory, dense magnesite chrome refractory, direct bonded magnesite chrome refractory, chrome magnesite bricks and magnesite alumina bricks.These special basic refractory products are used in OHF side walls, reheating furnaces, high temperature positions in rolling reheating furnaces, EAF roofs, rotary furnace linings, and harsh abrasive positions by billets in forges, hearth furnaces, antinomy furnaces and AOD working linina.
  • Magnesia Carbon Bricks- The magnesia carbon bricks have a wide range of applications that include LD converter wear lining, VAD / LF ladle slag areas, ladle bottom impact UHP / EBT-EAF slang line and hotspot areas. The variety of magnesia carbon bricks offered includes normal density magnesia carbon bricks, metal line magnesia carbon bricks for steel ladles and slag line magnesia carbon bricks for steel ladles.
  • Magnesite, Magnesite Chrome and Chrome Bricks- RRL supplies a wide variety of magnesite bricks, dense magnesite bricks, low iron magnesite bricks, chrome bricks and magnesite chromes bricks used in back up lining bricks for EAF, ladles, converters chemically bonded with steel clad, glass regenerators, OH roofs and EAF free boards.Silica Bricks. The company supplies silica normal bricks for general purpose, coke ovens and silica dense bricks for coke ovens.
  • Basic Mortars, Ramming Felting And Patching Masses The basic mortars, ramming felting and patching masses are used for laying magnesite bricks, mag bricks, chrome mag bricks, chromite bricks and as neutral layers between silica and basic bricks.

RRL supplies mag-chrome patching mass for worn out portion of induction furnaces, magnesite ramming mass for hot cold repair of furnaces and magnesite felting material for repair of furnaces.

RRL offers fireclay and high alumina mortars that are used for general mortar purpose, sillimanite mortar and low iron content mortar applications. The company also offers a wide range of high alumina, zircon mortars, patch ramming masses and plastic materials used in a wide range of applications.

Special Products:

  • High Alumina, Zircon and Alumina Carbon Nozzles
  • Stopper Heads, Porus Plugs (Zirmul, silicon Carbide)
  • Silica Bricks 99% with less than 0.5% al203 & Fe203
  • Mullite Alumina Bushes with 3% Porasity
  • High Alumina Porus Plugs
  • High Alumina (94%) Insulation Bricks
  • Thermo Insulation Dense Bricks (Tempered Bricks)
  • Bobble Alumina Insulation Bricks
  • Dense Alumina Bricks to use in (Aneeling Furnace Heart)
  • Low Cement Castables
  • Ultra Low Cement Castables

Clientele

  • Birla Technical  Services
  • Concast india ltd.
  • Holtec Engineers
  • Mukand Ltd
  • M N Dastur & Company
  • Tata Korf Engg Services Ltd
  • Thermax
  • Bhilai Steel Plant
  • Durgapur Steel Plant
  • Visakhapatnam Steel Plant
  • Jindal Vijayanagar Steel Ltd
  • Southern Iron & Steel Co. Ltd
  • Midhani Limited
  • Tamilnadu Steel Ltd
  • Hospet Steels Ltd
  • Ispat Profiles India Ltd, and many more
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