Refractory Shapes Ltd. IPO Review

Refractoy Shapes Ltd. is with a rich history of quality, craftsmanship, and personalized service, the company stands as a beacon of excellence in the world of refractory solutions. For businesses seeking top-quality, custom-made refractory. They believe their long-term success depends on their ability to deliver excellence in both perceived and realized value of their products and services to their customers.

The company is backed by strong promoters and a Board of Directors who has experience of over 37 years in Refractory Business. Revenue have Increased from ₹25.50 Crores in FY22 to ₹37.96 Crores in FY23 showing significant growth of more than 48.86% on top Line. Also, EPS have decreased from ₹ 1.82 to ₹ 1.21 showing significant growth of more than -33.51%. The Company discontinued the growth for the Period ending December 2023 as EPS have declined by ₹ 0.97 showing declination of more than -19.83%%. Also, ROE and ROCE is somewhat at 12.19% and 8.04% respectively.

Refractory Shapes IPO Issue price is ₹ 27 to ₹ 31 per share and Post Issue EPS of ₹ 0.87 which makes the valuation fully priced at a Post PE ratio of 35.63x times against an Industry PE Ratio of 24.68x times and there is also robust Returns on Equity (ROE) and Returns on Capital Employed (ROCE) which makes the IPO favourable for Listing Gain and Investing for medium to long term. The Grey Market Premium (GMP) is also indicating Big Listing Gains on Listing. Investors can apply for Listing Gains and Medium to Long Term Gains.