Refractory IPO

Refractory Shapes Ltd

₹1,08,000 /4000 sharesMinimum Investment

Refractory IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹31.00₹75.00₹44.00 (141.94%)

Refractory IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
6 May ‘24 - 9 May ‘24₹1,08,0004,000₹27 - ₹31
Issue SizeIPO Doc
18.60Cr
RHP PDF

About Refractory

Refractory Shapes Limited is a manufacturer of different types of Bricks, Castables, High Alumina Catalyst and Ceramic Balls which includes Pre Cast & Pre Fired Blocks (“PCPF”), Burner Blocks, Special shaped Refractory bricks, Dense & Insulating Castables & Mortars. The company’s products are used in a diverse range of industries, including steel, refineries, fertilizers, petrochemicals, glass, cement etc. The company operates fully equipped manufacturing plants in Pune, and Gujarat. The Pune plant occupies 34,788 square feet, while the Gujarat plant spans 1,74,246 square feet, with an additional unit to support EIL's greenfield projects. ;
Parent Organisation
Refractory Shapes Ltd
Founded
1996
Managing Director
Ms. Prajna Shravan Shetty

Strengths & Risks

  • In 2007 and 2011, the company became an approved vendor with Engineers India Limited ("EIL") and was also listed by EIL for "High Alumina Refractory Bricks." This positioned the company as an Original Equipment Manufacturer (OEM) in several projects executed by EIL. The certificate is valid only for 2-3 years after which, a revalidation process is conducted.
  • The company caters to clientele across 17 states and 2 UTs in India.
  • The company holds ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certifications.
  • The company reported revenue from operations of Rs. 20.89 cr, Rs. 25.50 cr and Rs. 37.97 cr in FY 2021, 2022 and 2023 respectively. In the same time periods, it reported Profit after tax of Rs. 1.56 cr, Rs. 2.87 cr and Rs. 1.92 cr respectively.
  • There are outstanding legal proceedings involving the company, its promoters, promoter group, directors, and group companies. An unfavorable outcome in any of these proceedings could have a material adverse effect on the company's business, results of operations, and financial condition.
  • The company relies on purchase orders rather than long-term contracts with customers, which means orders can be changed or canceled. This creates a risk that losing key customers or reduced demand could harm business operations and financial health.
  • The company does not have long-term agreements or contracts with suppliers for its raw materials. As a result, any increase in the cost of these materials, or a shortage in their availability or quality, could adversely affect the company's business, financial condition, and results of operations.
  • The company relies on third-party transportation providers for the supply of raw materials and the delivery of its finished products.
  • As of December 31, 2023, the company had availed unsecured loans totaling Rs. 6.49 cr and had total financial indebtedness of Rs. 22.33 cr.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular27 - 31₹2 Lakh
High Networth Individual27 - 31₹2 - 5 Lakh
For Refractory IPO, eligible investors can apply as Regular.
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