Sp Refractories quarterly results and financials

Sp Refractories (SPRL)₹133.25−4.99%(4 Nov 2026 close)Electrodes & Refractories

Key facts

In the Mar 2026 quarter (standalone), Sp Refractories reported sales of ₹11.89 Cr, down 25.2% from Mar 2025, and net profit of ₹1.34 Cr, up 18.6% year on year. For the year to Mar 2026, sales were ₹28.25 Cr and net profit ₹3.54 Cr.

Sales (Mar 2026): ₹11.89 Cr
Net profit (Mar 2026): ₹1.34 Cr
Sales (FY Mar 2026): ₹28.25 Cr
Net profit (FY Mar 2026): ₹3.54 Cr
EPS (Mar 2026): ₹7.45
Borrowings (Mar 2026): ₹1.05 Cr

Company filings, standalone accounts; latest reported quarter Mar 2026

Sp Refractories quarterly results

₹ crore unless stated; each column is a quarter.

Sp Refractories Quarterly results
	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
Sales	12.67	13.98	14.93	14.46	15.89	16.35	11.89
Expenses	11.71	12.56	13.34	12.70	14.01	13.05	9.78
Operating Profit	0.90	1.35	1.53	1.68	1.84	3.25	2.06
OPM %	7.2%	9.7%	10.2%	11.7%	11.5%	19.9%	17.3%
Other Income	0.00	0.00	0.04	0.00	0.00	0.00	0.03
Interest	0.16	0.15	0.29	0.19	0.17	0.11	0.06
Depreciation	0.13	0.19	0.16	0.21	0.21	0.22	0.22
Profit before tax	0.63	1.03	1.11	1.30	1.47	2.92	1.80
Tax %	26.6%	28.0%	27.7%	26.1%	24.4%	25.3%	26.1%
Net Profit	0.48	0.76	0.82	0.98	1.13	2.21	1.34
EPS (Rs)	2.64	4.20	4.54	5.43	6.27	12.30	7.45

Sp Refractories profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Sp Refractories Profit and loss
	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	18.58	21.02	25.76	31.59	27.32	28.90	30.33	28.25
Expenses	17.62	19.75	24.18	29.45	25.73	25.87	26.70	22.82
Operating Profit	0.87	1.20	1.47	2.01	1.47	2.91	3.53	5.30
OPM %	4.7%	5.7%	5.7%	6.3%	5.4%	10.0%	11.6%	18.8%
Other Income	0.04	0.02	0.02	0.00	0.00	0.04	0.00	0.03
Interest	0.41	0.45	0.22	0.43	0.42	0.44	0.35	0.16
Depreciation	0.23	0.23	0.25	0.23	0.25	0.34	0.41	0.43
Profit before tax	0.28	0.55	1.03	1.36	0.83	2.16	2.78	4.73
Tax %	24.2%	26.9%	28.0%	27.8%	26.3%	28.2%	25.2%	25.6%
Net Profit	0.22	0.41	0.76	0.99	0.63	1.57	2.10	3.54
EPS (Rs)	4.23	8.05	5.04	5.49	3.47	8.74	11.71	19.78
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Sp Refractories balance sheet

₹ crore, at each year end.

Sp Refractories Balance sheet
	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	0.51	0.51	1.50	1.80	1.80	1.80	1.80	1.80
Reserves	3.03	3.43	3.19	6.54	7.17	8.73	10.82	14.35
Borrowings	3.75	4.12	3.78	5.06	5.41	4.67	4.43	1.05
Other Liabilities	0.65	0.95	2.11	1.91	1.74	1.95	1.84	1.58
Total Liabilities	7.94	9.01	10.58	15.31	16.12	17.15	18.89	18.78
Fixed Assets	2.08	2.02	1.91	4.05	3.90	7.13	7.10	7.56
CWIP	0.00	0.00	0.00	0.75	2.40	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.02	0.02	0.00	0.02	0.05
Other Assets	5.86	6.99	8.67	10.49	9.80	10.02	11.77	11.17
Inventories	1.21	1.33	1.40	2.31	3.05	2.90	4.77	5.46
Trade receivables	4.00	4.46	6.93	6.04	6.08	6.39	6.33	4.92
Cash & equivalents	0.03	0.02	0.00	0.83	0.02	0.02	0.02	0.02
Total Assets	7.94	9.01	10.58	15.31	16.12	17.15	18.89	18.78

Sp Refractories cash flow

₹ crore, for each year.

Sp Refractories Cash flow
	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	0.83	0.78	−0.65	0.79	0.40	1.58	1.49	1.30
Cash from investing activity	−0.18	−0.17	−0.12	−3.14	−1.74	−1.16	−0.39	−0.90
Cash from financing activity	−0.64	−0.63	0.75	3.14	0.50	−0.43	−1.11	−0.40
Net cash flow	0.02	−0.02	−0.02	0.81	−0.82	0.00	0.00	0.00
Capex	0.18	0.15	0.12	2.37	0.08	1.14	0.38	0.86
Free cash flow	0.64	0.62	−0.78	−2.33	−1.32	0.43	1.10	0.43
CFO / OP %	105.0%	80.0%	−24.0%	60.0%	44.0%	73.0%	61.0%	58.0%

Sp Refractories ratios

Working-capital days and returns, by year.

Sp Refractories Ratios
	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	78	77	98	69	81	80	76	63
Inventory days	33	32	28	37	54	58	100	143
Days payable	4	10	20	24	24	23	20	19
Cash conversion cycle	109	101	107	84	112	117	158	189
Working capital days	29	22	44	45	63	70	83	126
ROCE %	—	13.1%	15.2%	16.4%	9.0%	17.6%	19.5%	28.6%

Sp Refractories: frequently asked questions

What are the latest quarterly results of Sp Refractories?

For the Mar 2026 quarter, Sp Refractories reported sales of ₹11.89 Cr, down 25.2% year on year and net profit of ₹1.34 Cr, up 18.6% year on year. The operating margin was 17.3%.

What is the annual revenue of Sp Refractories?

Sp Refractories' sales for the year to Mar 2026 were ₹28.25 Cr.

What is the net profit of Sp Refractories?

Net profit for the year to Mar 2026 was ₹3.54 Cr. Earnings per share over the same trailing period were ₹19.78.

How much debt does Sp Refractories have?

Sp Refractories reported borrowings of ₹1.05 Cr at Mar 2026, against cash and equivalents of ₹0.02 Cr.

What is the free cash flow of Sp Refractories?

Cash from operations was ₹1.30 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹0.43 Cr.

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