Refractory Shapes Limited

NSEI:REFRACTORY Stock Report

Market Cap: ₹632.2m

Refractory Shapes Management

Management criteria checks 3/4

Refractory Shapes' CEO is Prajna Shetty, appointed in Aug 2022, has a tenure of 3.92 years. total yearly compensation is ₹1.80M, comprised of 100% salary and 0% bonuses, including company stock and options. directly owns 23.92% of the company’s shares, worth ₹151.21M. The average tenure of the management team and the board of directors is 2.6 years and 2.8 years respectively.

Key information

Prajna Shetty

Chief executive officer

₹1.8m

Total compensation

CEO salary percentage100.00%
CEO tenure3.9yrs
CEO ownership23.9%
Management average tenure2.6yrs
Board average tenure2.8yrs

Recent management updates

Recent updates

Analysis Article • Nov 15

Refractory Shapes Limited (NSE:REFRACTORY) Held Back By Insufficient Growth Even After Shares Climb 37%

Refractory Shapes Limited ( NSE:REFRACTORY ) shareholders would be excited to see that the share price has had a great...
Analysis Article • Oct 01

Refractory Shapes Limited's (NSE:REFRACTORY) 28% Dip In Price Shows Sentiment Is Matching Earnings

The Refractory Shapes Limited ( NSE:REFRACTORY ) share price has fared very poorly over the last month, falling by a...
Analysis Article • Aug 26

Does Refractory Shapes (NSE:REFRACTORY) Have A Healthy Balance Sheet?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Jun 21

Why Investors Shouldn't Be Surprised By Refractory Shapes Limited's (NSE:REFRACTORY) 26% Share Price Plunge

The Refractory Shapes Limited ( NSE:REFRACTORY ) share price has fared very poorly over the last month, falling by a...
Analysis Article • Mar 11

Refractory Shapes (NSE:REFRACTORY) Has A Pretty Healthy Balance Sheet

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Sep 25

Refractory Shapes Limited's (NSE:REFRACTORY) 26% Share Price Plunge Could Signal Some Risk

Unfortunately for some shareholders, the Refractory Shapes Limited ( NSE:REFRACTORY ) share price has dived 26% in the...

CEO Compensation Analysis

How has Prajna Shetty's remuneration changed compared to Refractory Shapes's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2026n/an/a

₹48m

Dec 31 2025n/an/a

₹62m

Sep 30 2025n/an/a

₹77m

Jun 30 2025n/an/a

₹70m

Mar 31 2025₹2m₹2m

₹63m

Dec 31 2024n/an/a

₹58m

Sep 30 2024n/an/a

₹51m

Jun 30 2024n/an/a

₹46m

Mar 31 2024₹2mn/a

₹42m

Mar 31 2023n/an/a

₹19m

Mar 31 2022₹2mn/a

₹29m

Compensation vs Market: Prajna's total compensation ($USD18.90K) is below average for companies of similar size in the Indian market ($USD41.42K).

Compensation vs Earnings: Prajna's compensation has been consistent with company performance over the past year.

CEO

Prajna Shetty (38 yo)

3.9yrs
Tenure
₹1,800,000
Compensation

Mrs. Prajna Shravan Shetty serves as a Managing Director since August 25, 2022 and Chairman since December 15, 2023 at Refractory Shapes Private Limited and serves as a Director since July 14, 2021. In her...

Leadership Team

NamePositionTenureCompensationOwnership
Prajna Shetty
MD & Chairman3.9yrs₹1.80m23.92%
₹ 151.2m
Dayashankar Shetty
Founder & Executive Directorno data₹3.60m24.64%
₹ 155.8m
Suraj Shetty
Executive Director3.8yrs₹1.20m0.000010%
₹ 63.2
Ammar Rangwala
CFO & Executive Director2.6yrsno datano data
Jawale Rajendra
Accounts Headno datano datano data
Surekha Patil
Head of Administration & HRno datano datano data
Neelam Mandawat
Company Secretary2.6yrsno datano data
Majur Jothiprakash
Whole Time Director2.6yrsno datano data
Satish Surve
Quality Control Headno datano datano data
2.6yrs
Average Tenure
58yo
Average Age

Experienced Management: REFRACTORY's management team is considered experienced (2.6 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Prajna Shetty
MD & Chairman5yrs₹1.80m23.92%
₹ 151.2m
Dayashankar Shetty
Founder & Executive Director2.9yrs₹3.60m24.64%
₹ 155.8m
Suraj Shetty
Executive Director3.9yrs₹1.20m0.000010%
₹ 63.2
Ammar Rangwala
CFO & Executive Director3.9yrsno datano data
Neelam Mandawat
Company Secretaryno datano datano data
Majur Jothiprakash
Whole Time Director3.9yrsno datano data
Ravindra Hulyalkar
Non-Executive Independent Director2.6yrsno datano data
Siddharth Kumar
Non-Executive Independent Director2.6yrsno datano data
Abhay Naik
Non-Executive Independent Director2.6yrsno datano data
Kemmannu Rao
Non-Executive Independent Director2.6yrsno datano data
Dhananjay Dave
Non-Executive Independent Director2.6yrsno datano data
2.8yrs
Average Tenure
62yo
Average Age

Experienced Board: REFRACTORY's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/05 04:20
End of Day Share Price 2026/07/03 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

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Analyst Sources

Refractory Shapes Limited is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.