Valuation Update With 7 Day Price Move • May 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹78.00, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 26x in the Basic Materials industry in India. Total loss to shareholders of 9.3% over the past three years. Reported Earnings • May 18
Full year 2026 earnings released: EPS: ₹19.72 (vs ₹11.68 in FY 2025) Full year 2026 results: EPS: ₹19.72 (up from ₹11.68 in FY 2025). Revenue: ₹281.7m (down 6.9% from FY 2025). Net income: ₹35.3m (up 69% from FY 2025). Profit margin: 13% (up from 6.9% in FY 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Annuncio • May 08
SP Refractories Limited to Report Second Half, 2026 Results on May 14, 2026 SP Refractories Limited announced that they will report second half, 2026 results on May 14, 2026 Board Change • Apr 08
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹122, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 27x in the Basic Materials industry in India. Total returns to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹179, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 31x in the Basic Materials industry in India. Total returns to shareholders of 124% over the past three years. Annuncio • Nov 14
SP Refractories Limited to Report First Half, 2026 Results on Nov 14, 2025 SP Refractories Limited announced that they will report first half, 2026 results on Nov 14, 2025 Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹125, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 35x in the Basic Materials industry in India. Total returns to shareholders of 52% over the past three years. Board Change • Aug 26
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Jul 28
SP Refractories Limited, Annual General Meeting, Aug 28, 2025 SP Refractories Limited, Annual General Meeting, Aug 28, 2025, at 11:30 Indian Standard Time. Location: m-10, m-11/1 & m-11/2, midc industrial area, hingna rd., nagpur, maharashtra- 440016, nagpur India New Risk • Jun 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹265.7m market cap, or US$3.11m). Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Revenue is less than US$5m (₹293m revenue, or US$3.4m). Valuation Update With 7 Day Price Move • May 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹130, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 35x in the Basic Materials industry in India. Total returns to shareholders of 63% over the past three years. Board Change • Apr 21
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹139, the stock trades at a trailing P/E ratio of 14x. Average trailing P/E is 31x in the Basic Materials industry in India. Total loss to shareholders of 4.3% over the past year. Board Change • Feb 11
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Nov 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$10m (₹315.5m market cap, or US$3.74m). Minor Risk Revenue is less than US$5m (₹293m revenue, or US$3.5m). Board Change • Nov 19
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Oct 07
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹159, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 30x in the Basic Materials industry in India. Total returns to shareholders of 69% over the past year. New Risk • Sep 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹329.5m market cap, or US$3.95m). Minor Risks High level of debt (44% net debt to equity). Share price has been volatile over the past 3 months (7.9% average weekly change). Revenue is less than US$5m (₹288m revenue, or US$3.4m). Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹197, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 33x in the Basic Materials industry in India. Total returns to shareholders of 97% over the past year. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹201, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 32x in the Basic Materials industry in India. Total returns to shareholders of 99% over the past year. Annuncio • Aug 28
SP Refractories Limited, Annual General Meeting, Sep 26, 2024 SP Refractories Limited, Annual General Meeting, Sep 26, 2024, at 11:30 Indian Standard Time. Location: m-10, m-11/1 & m-11/2, midc industrial area, hingna rd., nagpur, maharashtra- 440016, nagpur India Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹289, the stock trades at a trailing P/E ratio of 33.2x. Average trailing P/E is 34x in the Basic Materials industry in India. Annuncio • Jun 28
SP Refractories Limited Announces Resignation of Mr. Pawan Kumar as Company Secretary Cum Compliance Officer, Effective June 30, 2024 SP Refractories Limited announced resignation of Mr. Pawan Kumar as Company Secretary cum Compliance Officer of the Company at its meeting held on June 27, 2024 with effect from June 30, 2024. Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹318, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 30x in the Basic Materials industry in India. Total returns to shareholders of 270% over the past year. Reported Earnings • May 17
Full year 2024 earnings released: EPS: ₹8.71 (vs ₹3.44 in FY 2023) Full year 2024 results: EPS: ₹8.71 (up from ₹3.44 in FY 2023). Revenue: ₹288.4m (up 5.9% from FY 2023). Net income: ₹15.6m (up 153% from FY 2023). Profit margin: 5.4% (up from 2.3% in FY 2023). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹241, the stock trades at a trailing P/E ratio of 35.3x. Average trailing P/E is 33x in the Basic Materials industry in India. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹181, the stock trades at a trailing P/E ratio of 26.5x. Average trailing P/E is 34x in the Basic Materials industry in India. Total returns to shareholders of 113% over the past year. Board Change • Apr 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹153, the stock trades at a trailing P/E ratio of 22.4x. Average trailing P/E is 31x in the Basic Materials industry in India. Board Change • Feb 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 06
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Sep 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Aug 27
SP Refractories Limited, Annual General Meeting, Sep 21, 2023 SP Refractories Limited, Annual General Meeting, Sep 21, 2023, at 11:30 Indian Standard Time. Location: M-10, M-11/1 & M-11/2, MIDC Industrial Area Hingna Road Nagpur Maharashtra India Agenda: To receive, consider and adopt the Audited Balance Sheet for the year ended 31 March, 2023, the Profit and Loss account for the year ended as on the said date, the Director's Report and the Auditor's Report thereon; and to consider the re-appointment of a Director. Valuation Update With 7 Day Price Move • Aug 09
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹94.05, the stock trades at a trailing P/E ratio of 27.3x. Average trailing P/E is 34x in the Basic Materials industry in India. Total returns to shareholders of 18% over the past year. Board Change • Jul 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • May 25
Full year 2023 earnings released: EPS: ₹3.44 (vs ₹6.56 in FY 2022) Full year 2023 results: EPS: ₹3.44 (down from ₹6.56 in FY 2022). Revenue: ₹272.4m (down 14% from FY 2022). Net income: ₹6.16m (down 38% from FY 2022). Profit margin: 2.3% (down from 3.1% in FY 2022). The decrease in margin was driven by lower revenue. Board Change • May 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Aug 31
SP Refractories Limited, Annual General Meeting, Sep 29, 2022 SP Refractories Limited, Annual General Meeting, Sep 29, 2022, at 11:30 Indian Standard Time. Location: M-10, M-11/1 & M-11/2 MIDC Industrial Area, Hingna Road, Nagpur Maharashtra-440016 Nagpur Maharashtra India Board Change • Aug 17
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Mar 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Non-Executive Independent Director Manish Pande was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.