Refractory Shapes Ltd. IPO Review - Issue Date, Price, GMP, Allotment, Lot Size, and Details

About Refractory Shapes Ltd. Limited

Refractory Shapes Ltd. since 1973 is renowned for its Quality and Reliability. The Company produces Special Shapes, Custom made Refractory shapes & Ceramic Balls of Low & Medium purity of top quality with superior performance. The company has a fully equipped plant and is situated in Pune, India, 170 kms. from Mumbai with latest equipments to produce Refractory Shapes and Castables of highest standards. However, its most important asset is the skill of workmen, acquired over three decades of manufacture. Refractory aggregates from carefully selected and processed raw material are also produced at the plant. This gives the company an edge over other Refractory manufacturers. Strict procedures are scrupulously followed to ensure quality. A sophisticated laboratory with facilities to carry out chemical analysis and physical. test, monitors quality at every stage of manufacturing from raw material to finished products. This has enabled standardization and selecting quality system under ISO 9001 in December, 1998.

Their full-fledged in house lab has been approved by NABL as per ISO 17025. They are also fully equipped to test all parameters of Refractories namely Physical, Chemical & Thermal Properties as per IS & ASTM Standards.

In 2021 Refractory Shapes Commissioned an additional plant (expansion unit) at Wankaner, Gujarat. The manufacturing unit is spread across 10 acres of land. The plant is well equipped with latest production technologies and full fledged testing laboratory for testing all parameters (Chemical, Physical & Thermal Properties) of Refractories including High Pressure Shock Test (Rapid Depressurization test) as per UOP standards.

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. They have their inhouse design team to manufacture their refractories as per Licensor/clients drawings & requirements. They have a very strong track record of performance for making excellent quality import equivalent refractories which includes Burner blocks, Bricks, Castables, etc for various industries. The followings as we can see is, are as follows : 

1. Skilled Workforce : While cutting-edge equipment is essential, Refractory Shapes recognizes that its most vital asset is its skilled workforce.
2. Raw Material Excellence : One of the key factors that sets Refractory Shapes Ltd. apart is its meticulous selection and processing of raw materials. 
3. Quality Assurance : Quality is a cornerstone of Refractory Shapes Ltd.'s operations.
4. Custom Craftsmanship : Refractory Shapes Ltd. is known for its ability to produce custom-made refractory shapes, tailoring solutions to meet the specific needs of its clients.
5. Diverse Industry Applications : Refractory Shapes Ltd.'s products find applications in a diverse range of industries, including steel, cement, glass, petrochemicals, and more.

Indian Refractory Industry

Refractory materials are used in various fields of the national economy, such as iron and steel, nonferrous metal, glass, cement, ceramics, petrochemical, machinery, boiler, light industry, electric power, military industry, etc. It is an essential basic material to ensure the production and operation of the above-mentioned industries and the development of technology.

Refractory materials generally refer to inorganic nonmetal materials with a refractory degree of 15800℃ or above. Refractory materials include natural ores and various products made for certain purposes and requirements through certain processes, which have certain high-temperature mechanical properties and good volume stability. They are the necessary materials for various high-temperature equipment.

Types of Refractory Materials and Their Applications are as follows:
1. Fired Refractory Products.
2. Monolithic Refractory (Bulk Refractory Or Refractory Concrete).
3. Clay Bricks, High Alumina Bricks, Silica Bricks, Magnesium Bricks, Corundum Bricks.
4. Ramming Material,  Casting Material.
5. Plastic Refractory, Functional Refractory Materials.

Reafractory Shapes IPO Risk Factors & Concerns 

1. The Company is an Approved Vendor having enlisted by Engineers India Limited (“EIL”), if the Company does not receive the recognition then it may harm their Brand Value or Reputation.
2. The Company sells its products for specific use by certain Industries.
3. Overcapacity and Oversupply in the Global Refractory Industry may adversely affect the Company’s Profitability.
4. They generate their major portion of sales from their operations in certain geographical domestic region.
5. The company has an in-house testing laboratory in accordance with ISO/IEC 17025:2017 to conduct raw material and final product sample testing.
6. They have incurred indebtedness.
7. The Company engages contract labourers at its Manufacturing Facilities.
8. The company have taken guarantees from their directors in relation to Debt Facilities provided to them.
9. Failure or disruption of their IT, manufacturing automation systems may adversely affect their business, financial condition and results of operations.

Refractory Shapes Strengths & Strategies

1. Vast experience and track record in the Industry.
2. Raw Material Excellence.
3. Having enlisted by Engineer India Limited (“EIL”) as an Approved Vendor.
4. Wide & strong Customer base.
5. Product & service quality along with Safety.
6. Expansion of their Manufacturing Facility.
7. Target new product & customer segments.
8. Introduce Innovative techniques.
9. Increase value addition by changing the Product mix.