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SP Refractories Ltd (SPRL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: SPRL Refractories | Small Cap | SP Refractories Share Price

BSE Share Price
Not Listed

SP Refractories Ltd (SPRL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 0 NSE: SPRL Refractories | Small Cap | SP Refractories Share Price

BSE Share Price
Not Listed
Key Metrics
Valuation Multiples
Market Cap
₹15 Cr.
Current Price
₹0
52-Week Low / High
₹0 / 0
TTM EPS
₹19.7
TTM Sales
₹28.2 Cr.
Book Value per Share
₹70.4
P/E Ratio
4.20
Lower than its 5-year historical median
Industry PE
46.9
Price to Book (P/B)
1.18
Lower than its 5-year historical median
Price to Sales (P/S)
0.53
Lower than its 5-year historical median
EV/EBITDA
3.63
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
18.11%
Outperforms industry median
Return on Capital Employed (ROCE)
19.49%
Outperforms industry median
Return on Assets (ROA)
11.61%
Operating Profit Margin
11.7%
Net Profit Margin
6.91%
Gross Profit Margin
10.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
5%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
22.15%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
33.97%
Asset Quality
Promoter Holding
69.42%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹11 Cr.
Equity
₹1.8 Cr.
Face Value
₹10
All Time Low / High
- / -

SP Refractories stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is SP Refractories Ltd a good quality company?
SP 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 SP Refractories Ltd performance compare with that of its Peers?
Q.1 Revenue growth of SP Refractories Ltd vs industry peers?
SP Refractories Ltd revenue CAGR is 7.60%, compared to the industry median CAGR of 4.42%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of SP Refractories Ltd?
Promoters hold 69.42% of the SP Refractories Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of SP Refractories Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 2.06% based on the current price.

10 Year X-Ray :

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.
SP 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'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 9.4%13%15.2%16.3%9%17.6%19.5%-
Value Creation
Index
-0.3-0.10.10.2-0.40.30.4-

Growth Parameters

Sales 18.52125.731.527.228.830.328
Sales YoY Gr.-13.2%22.6%22.7%-13.6%5.8%5%-
Adj EPS 1.42.75.15.53.48.711.719.7
YoY Gr.-94.2%88.4%8.9%-37.5%153.2%34.1%-
BVPS (₹) 23.626.331.346.55058.770.470.4
Adj Net
Profit
0.20.40.810.61.62.14
Cash Flow from Ops. 0.80.8-0.70.80.41.61.5-
Debt/CF from Ops. 4.55.2-5.86.313.333-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales NA7.6%-1.4%5%
Adj EPS NA34.2%28.5%34.1%
BVPSNA21.8%14.8%19.9%
Share Price - - -1.3% -38.3%

Key Financial Parameters

Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
5.910.717.615.27.11618.128
Op. Profit
Mgn %
4.75.75.76.35.410.111.7NAN
Net Profit
Mgn %
1.11.92.93.12.35.46.912.5
Debt to
Equity
1.11.10.80.60.60.50.4-
Working Cap
Days
011189841301251310
Cash Conv.
Cycle
090696197991090

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales18.5320.9725.7031.5227.2428.8130.25
Operating Expenses + 17.6619.7824.2329.5225.7625.9226.72
Manufacturing Costs002.592.942.824.184.97
Material Costs13.5815.5418.3222.6620.4218.0917.37
Employee Cost 1.431.301.521.771.522.102.60
Other Costs 2.652.941.802.1611.541.78
Operating Profit 0.871.191.461.991.482.893.53
Operating Profit Margin (%) 4.7%5.7%5.7%6.3%5.4%10.0%11.7%
Other Income + 0.030.030.030.010.010.030.01
Exceptional Items 0000000
Interest 0.400.440.210.420.410.430.34
Depreciation 0.220.220.240.220.240.330.40
Profit Before Tax 0.280.551.051.360.832.172.79
Tax 0.080.150.290.380.220.610.70
Profit After Tax 0.210.400.750.980.621.562.09
PAT Margin (%) 1.1%1.9%2.9%3.1%2.3%5.4%6.9%
Adjusted EPS (₹)1.42.75.15.53.48.711.7
Dividend Payout Ratio (%)0%0%0%0%0%0%0%

Valuation of SP Refractories - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

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

Equity and Liabilities

Shareholders Fund + 3.523.924.678.328.9410.5012.59
Share Capital 0.500.501.491.791.791.791.79
Reserves 3.023.423.186.537.158.7110.80
Debt +3.754.133.795.075.424.674.44
Long Term Debt0.500.300.261.192.112.091.17
Short Term Debt3.253.843.533.883.312.593.27
Minority Interest0000000
Trade Payables0.140.411.011.521.371.160.93
Others Liabilities 0.520.521.100.360.370.810.92
Total Liabilities 7.928.9810.5715.2816.1017.1418.88

Fixed Assets

Net Fixed Assets +2.072.011.904.043.897.127.11
Gross Block3.874.031.904.046.379.9310.32
Accumulated Depreciation1.802.03002.482.813.21
CWIP 0000.762.4100
Investments 000.010.010.010.010.01
Inventories1.201.321.392.303.042.894.76
Trade Receivables4.014.476.956.066.096.416.34
Cash Equivalents 0.020.0100.820.010.010.01
Others Assets 0.631.180.311.290.660.700.66
Total Assets 7.928.9810.5715.2816.1017.1418.88

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 0.840.79-0.660.800.411.591.50
PBT 0.280.551.051.360.832.172.79
Adjustment 0.610.660.420.630.650.750.74
Changes in Working Capital 0.03-0.26-1.82-0.8-0.84-0.79-1.37
Tax Paid -0.08-0.16-0.31-0.39-0.24-0.54-0.66
Cash Flow From Investing Activity + -0.17-0.16-0.11-3.13-1.73-1.15-0.38
Capex -0.19-0.16-0.13-2.38-0.09-1.15-0.39
Net Investments 00000-0-0
Others 0.010.010.02-0.75-1.6500.01
Cash Flow From Financing Activity + -0.65-0.640.763.150.51-0.44-1.12
Net Proceeds from Shares 0002.68000
Net Proceeds from Borrowing 0000000
Interest Paid -0.40-0.44-0.21-0.41-0.41-0.43-0.34
Dividend Paid 0000000
Others -0.26-0.200.970.880.92-0.01-0.77
Net Cash Flow 0.01-0.01-0.010.82-0.810-0

Financial Ratio

PARTICULARSMar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)5.8510.7417.5515.157.1316.0418.11
ROCE (%)9.3513.0115.2216.288.9517.5719.49
Asset Turnover Ratio2.342.483.293.061.741.731.68
PAT to CFO Conversion(x)41.98-0.880.820.661.020.72
Working Capital Days
Receivable Days7973.8064.806081.4079.2076.90
Inventory Days23.6021.9015.401735.8037.6046.10
Payable Days3.606.5014.2020.4025.8025.4021.90

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

SP Refractories Ltd FAQs

The current trading price of SP Refractories on 01-Jan-1970 05:30 is ₹0.00.

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 31-Dec-1969 the market cap of SP Refractories stood at ₹14.81 Cr

The latest P/E ratio of SP Refractories as of 31-Dec-1969 is 4.20.

The latest P/B ratio of SP Refractories as of 31-Dec-1969 is 1.18.

The 52-week high of SP Refractories is ₹0.00 and the 52-week low is ₹0.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of SP Refractories is ₹28.15 ( Cr.) .

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

The key valuation ratios of SP 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 SP Refractories Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About SP Refractories Ltd

SP Refractories is engaged in manufacturing and supplying Refractory Material made using hydrated lime, Calcined Alumina and other raw materials. Its core focus is on refractory cement which is a niche and high margin cement widely used in iron & steel and construction industries because of its thermal conductivity, Maximum strength and Heat resistance. The company has one Manufacturing facility at M- 10, MIDC, Hingna, Nagpur and the adjoining premise M- 11-1 & M-11-2, MIDC, Hingna, Nagpur is being used as Godown and storage facility. The manufacturing facility is located in MIDC which is well-developed industrial area of Nagpur.

The company has a healthy client base due to its quality product, customized solutions and large product line. It get clinkers manufactured from outsider on job work basis and thereafter process of crushing the clinkers, blending and packing of refectory cement in powder form carries out in its manufacturing facility for excess capacity of crushing. Further, as and when required it purchase clinkers from third party and carry out process of crushing the clinkers, blending and packing of refectory cement in powder form to utilize its excess capacity of crushing.

The company has dedicated semi-automatic machines and skilled operators for manual checking of raw materials as well as Finished Goods. Its Testing and QC Technical team combined with its testing equipments ensures the quality of raw material dispensed in the production process and also the finished goods delivered to its customers. This helps in improving its procurement process thus reducing wastages, returns and other related costs. 

Business area of the company

The company manufactures and supplies refractory material made using hydrated lime, Calcined Alumina, and other raw materials.

Major Events

  • January, 2007: Incorporation of the Company.
  • December, 2007: Purchase of Manufacturing Facility.
  • March, 2020: Cross Turnover of Rs 20 crore.
  • October, 2021: Conversion of Company from Private to Public Limited.
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