Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹30.40, the stock trades at a trailing P/E ratio of 13.8x. Average trailing P/E is 29x in the Basic Materials industry in India. Total loss to shareholders of 52% over the past year. Reported Earnings • May 27
Full year 2026 earnings released: EPS: ₹2.20 (vs ₹2.87 in FY 2025) Full year 2026 results: EPS: ₹2.20 (down from ₹2.87 in FY 2025). Revenue: ₹585.7m (flat on FY 2025). Net income: ₹47.9m (down 23% from FY 2025). Profit margin: 8.2% (down from 11% in FY 2025). Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹33.10, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 24x in the Basic Materials industry in India. Total loss to shareholders of 49% over the past year. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹31.15, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 24x in the Basic Materials industry in India. Total loss to shareholders of 53% over the past year. New Risk • Feb 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹896.0m (US$9.85m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.5% average weekly change). Market cap is less than US$10m (₹896.0m market cap, or US$9.85m). Valuation Update With 7 Day Price Move • Jan 12
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹47.55, the stock trades at a trailing P/E ratio of 13.4x. Average trailing P/E is 30x in the Basic Materials industry in India. Total loss to shareholders of 43% over the past year. New Risk • Dec 03
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 8.4% 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 Risk Share price has been highly volatile over the past 3 months (8.4% average weekly change). Minor Risk Market cap is less than US$100m (₹1.14b market cap, or US$12.7m). Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹45.55, the stock trades at a trailing P/E ratio of 12.8x. Average trailing P/E is 31x in the Basic Materials industry in India. Total loss to shareholders of 58% over the past year. Aankondiging • Nov 13
Refractory Shapes Limited to Report First Half, 2026 Results on Nov 13, 2025 Refractory Shapes Limited announced that they will report first half, 2026 results on Nov 13, 2025 Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹48.75, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 34x in the Basic Materials industry in India. Total loss to shareholders of 52% over the past year. New Risk • Oct 27
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 6.9% 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 High level of non-cash earnings (31% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (6.9% average weekly change). Market cap is less than US$100m (₹964.7m market cap, or US$10.9m). New Risk • Oct 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹876.4m (US$9.87m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (31% accrual ratio). Market cap is less than US$10m (₹876.4m market cap, or US$9.87m). Aankondiging • Sep 05
Refractory Shapes Limited, Annual General Meeting, Sep 26, 2025 Refractory Shapes Limited, Annual General Meeting, Sep 26, 2025, at 11:00 Indian Standard Time. Location: b 201, rustomjee central park, chakala, andheri-kurla road, andheri (east) - 400069., mumbai India Valuation Update With 7 Day Price Move • Aug 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹62.95, the stock trades at a trailing P/E ratio of 21.9x. Average trailing P/E is 32x in the Basic Materials industry in India. Total loss to shareholders of 67% over the past year. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to ₹63.75, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 42x in the Basic Materials industry in India. Total loss to shareholders of 70% over the past year. Reported Earnings • May 19
Full year 2025 earnings released: EPS: ₹2.87 (vs ₹2.63 in FY 2024) Full year 2025 results: EPS: ₹2.87 (up from ₹2.63 in FY 2024). Revenue: ₹598.2m (up 48% from FY 2024). Net income: ₹62.6m (up 50% from FY 2024). Profit margin: 11% (in line with FY 2024). Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹63.00, the stock trades at a trailing P/E ratio of 27.2x. Average trailing P/E is 37x in the Basic Materials industry in India. Total loss to shareholders of 27% over the past year. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹66.50, the stock trades at a trailing P/E ratio of 28.7x. Average trailing P/E is 31x in the Basic Materials industry in India. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹86.80, the stock trades at a trailing P/E ratio of 37.5x. Average trailing P/E is 32x in the Basic Materials industry in India. Board Change • Jan 02
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. MD & Chairman Prajna Shetty is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Nov 19
High number of new and inexperienced directors There are 9 new directors who have joined the board in the last 3 years. The company's board is composed of: 9 new directors. 1 experienced director. No highly experienced directors. MD & Chairman Prajna Shetty is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 14
First half 2025 earnings released: EPS: ₹1.48 (vs ₹1.42 in 1H 2024) First half 2025 results: EPS: ₹1.48 (up from ₹1.42 in 1H 2024). Revenue: ₹242.2m (up 17% from 1H 2024). Net income: ₹32.2m (up 44% from 1H 2024). Profit margin: 13% (up from 11% in 1H 2024). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Nov 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹116, the stock trades at a trailing P/E ratio of 61x. Average trailing P/E is 34x in the Basic Materials industry in India. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹109, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 30x in the Basic Materials industry in India. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹148, the stock trades at a trailing P/E ratio of 77.3x. Average trailing P/E is 33x in the Basic Materials industry in India. Aankondiging • Aug 20
Refractory Shapes Limited, Annual General Meeting, Sep 14, 2024 Refractory Shapes Limited, Annual General Meeting, Sep 14, 2024, at 11:00 Indian Standard Time. Location: sai palace hotel, 3/2, 3/3, mahakali caves, chakala, andheri east, mumbai- 400093., mumbai India Reported Earnings • Jun 07
Full year 2024 earnings released: EPS: ₹2.63 (vs ₹1.21 in FY 2023) Full year 2024 results: EPS: ₹2.63 (up from ₹1.21 in FY 2023). Revenue: ₹430.3m (up 13% from FY 2023). Net income: ₹41.6m (up 117% from FY 2023). Profit margin: 9.7% (up from 5.0% in FY 2023). The increase in margin was driven by higher revenue. Board Change • May 14
High number of new and inexperienced directors There are 10 new directors who have joined the board in the last 3 years. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. MD & Chairman Prajna Shetty is the most experienced director on the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors.