Raghav Productivity Enhancers Ltd

RPEL

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Market Cap

₹ 4,448 Cr

P/E

97.85

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

HIGH MARGIN

Technicals

Bullish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Raghav Productivity Enhancers Limited is a leading manufacturer of Silica Ramming Mass, a refractory material used in induction furnaces.

The company expanded its production capacity to 288,000 MTPA by commissioning a new plant in Newai in 2022-23.

In 2023, Raghav entered the high-margin foundry market with a tie-up with Capital Refractories, supplying to foundry and casting industries worldwide.

Raghav Productivity is in a technical collaboration with JWK AB Sweden, enhancing product quality and adapting to global standards.

Sector

Refractories

Industry

Refractories / Intermediates

Market Cap

4,448 Cr

Volatility

High Risk

P/E Ratio

97.9

Industry P/E

50.1

PEG Ratio

20.2

P/B Ratio

20.7

52W High

1,066.40

52W Low

450.10

Sales CAGR

50.37%

0.63%

11.62%

10Y

10.69%

Profit CAGR

42.36%

4.85%

17.78%

10Y

35.83%

ROE

TTM

21.15%

15.35%

15.50%

10Y

16.51%

ROCE

TTM

26.52%

20.44%

20.63%

10Y

22.26%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RPEL	964.00	4,448 Cr	97.85	20.69	0.10	21.15	26.52	17.70
IFGLEXPOR	207.10	1,529 Cr	51.37	1.34	1.65	2.61	4.32	1.71
MONOLITH	491.10	1,105 Cr	76.21	9.42	0.00	15.10	20.19	14.54
MORGANITE	1536.85	861 Cr	34.07	6.36	3.19	18.65	27.09	15.37
ORIENTCER	41.43	511 Cr	30.11	1.75	0.59	5.81	8.42	4.11
REFRACTORY	55.10	110 Cr	18.29	2.42	0.00	15.38	15.42	8.97
NILACHAL	41.79	83 Cr	—	0.00	0.00	73.41	-159.80	-78.27

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	30	32	32	39	45	49	55	51	58	64
Expenses	22	23	22	27	33	36	41	36	43	45
Operating Profit	8.38	9.78	9.90	12	12	13	14	14	16	19
OPM %	27.86	30.13	31.23	31.12	27.48	25.73	26.11	28.41	27.22	29.38
Other Income	0.04	0.09	0.09	0.15	0.21	0.38	0.29	0.43	0.81	0.62
Interest	0.04	0.14	0.25	0.24	0.23	0.22	0.23	0.19	0.20	0.19
Depreciation	0.71	1.08	1.59	1.58	1.59	1.47	1.84	1.55	1.71	1.75
Profit Before Tax	7.67	8.65	8.14	10	11	11	13	13	15	17
Tax %	25.16	26.59	26.66	23.33	22.52	22.79	22.06	22.61	21.19	20.23
Net Profit	5.74	6.35	5.97	7.91	8.29	8.75	9.81	10	12	14
EPS in Rs	1.25	1.38	1.30	1.72	1.80	1.90	2.14	2.21	2.54	3.02

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	65	113	153	151	200	213
Expenses	50	75	101	93	146	156
Operating Profit	15	37	52	58	54	57
OPM %	23.02	33.12	33.83	38.50	26.91	26.87
Other Income	0.09	1.50	0.44	0.38	1.32	1.91
Interest	0.59	0.42	0.15	0.67	0.87	0.84
Depreciation	2.16	2.24	2.60	4.97	6.45	6.57
Profit Before Tax	12	24	34	35	48	52
Tax %	25.18	24.42	24.90	25.35	22.50	22.11
Net Profit	9.14	18	25	26	37	40
EPS in Rs	—	3.76	5.29	5.65	8.06	9.91
Dividend Payout %	5.56	6.29	9.10	79.58	12.42	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	11	11	23	46
Reserves	54	98	122	135	148
Borrowings	0.00	5.87	9.99	8.74	7.08
Other Liabilities	9.71	18	18	19	31
Total Liabilities	75	132	161	186	231
Fixed Assets	28	27	27	88	93
CWIP	0.03	31	59	0.34	2.08
Investments	0.00	2.00	5.51	14	34
Other Assets	47	73	69	84	102
Total Assets	75	132	161	186	231

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	11	8.81	20	21	39
Cash from Investing Activity	-13	-42	-24	-15	-30
Cash from Financing Activity	8.12	29	3.42	-3.07	-4.60
Net Cash Flow	6.62	-4.19	-0.63	2.38	4.23

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Aug 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	62.92%	62.92%	62.92%	62.92%	62.92%	62.92%	62.92%	62.92%	62.92%	62.92%	62.91%	62.91%
FIIs	0.00%	0.00%	0.07%	0.00%	0.00%	0.04%	0.04%	0.01%	0.09%	0.18%	0.14%	0.15%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	37.08%	37.08%	37.02%	37.08%	37.08%	37.04%	37.04%	37.07%	36.99%	36.90%	36.95%	36.94%
Total Shareholders	6,636	8,792	10,730	10,036	9,801	8,724	8,659	9,868	13,450	14,977	14,151	14,315

Projection

Actions

Action Type

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Announcements

Last 7 days

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q1 FY25

Investor Presentation

Q1 FY24

Investor Presentation

Q1 FY23

Investor Presentation

Q4 FY21

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Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

AI Mode

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	30	32	32	39	45	49	55	51	58	64
Expenses	22	23	22	27	33	36	41	36	43	45
Operating Profit	8.38	9.78	9.90	12	12	13	14	14	16	19
OPM %	27.86	30.13	31.23	31.12	27.48	25.73	26.11	28.41	27.22	29.38
Other Income	0.04	0.09	0.09	0.15	0.21	0.38	0.29	0.43	0.81	0.62
Interest	0.04	0.14	0.25	0.24	0.23	0.22	0.23	0.19	0.20	0.19
Depreciation	0.71	1.08	1.59	1.58	1.59	1.47	1.84	1.55	1.71	1.75
Profit Before Tax	7.67	8.65	8.14	10	11	11	13	13	15	17
Tax %	25.16	26.59	26.66	23.33	22.52	22.79	22.06	22.61	21.19	20.23
Net Profit	5.74	6.35	5.97	7.91	8.29	8.75	9.81	10	12	14
EPS in Rs	1.25	1.38	1.30	1.72	1.80	1.90	2.14	2.21	2.54	3.02

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	65	113	153	151	200	213
Expenses	50	75	101	93	146	156
Operating Profit	15	37	52	58	54	57
OPM %	23.02	33.12	33.83	38.50	26.91	26.87
Other Income	0.09	1.50	0.44	0.38	1.32	1.91
Interest	0.59	0.42	0.15	0.67	0.87	0.84
Depreciation	2.16	2.24	2.60	4.97	6.45	6.57
Profit Before Tax	12	24	34	35	48	52
Tax %	25.18	24.42	24.90	25.35	22.50	22.11
Net Profit	9.14	18	25	26	37	40
EPS in Rs	—	3.76	5.29	5.65	8.06	9.91
Dividend Payout %	5.56	6.29	9.10	79.58	12.42	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	11	11	11	23	46
Reserves	54	98	122	135	148
Borrowings	0.00	5.87	9.99	8.74	7.08
Other Liabilities	9.71	18	18	19	31
Total Liabilities	75	132	161	186	231
Fixed Assets	28	27	27	88	93
CWIP	0.03	31	59	0.34	2.08
Investments	0.00	2.00	5.51	14	34
Other Assets	47	73	69	84	102
Total Assets	75	132	161	186	231

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	11	8.81	20	21	39
Cash from Investing Activity	-13	-42	-24	-15	-30
Cash from Financing Activity	8.12	29	3.42	-3.07	-4.60
Net Cash Flow	6.62	-4.19	-0.63	2.38	4.23

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
RPEL	964.00	4,448 Cr	97.85	20.69	0.10	21.15	26.52	17.70
IFGLEXPOR	207.10	1,529 Cr	51.37	1.34	1.65	2.61	4.32	1.71
MONOLITH	491.10	1,105 Cr	76.21	9.42	0.00	15.10	20.19	14.54
MORGANITE	1536.85	861 Cr	34.07	6.36	3.19	18.65	27.09	15.37
ORIENTCER	41.43	511 Cr	30.11	1.75	0.59	5.81	8.42	4.11
REFRACTORY	55.10	110 Cr	18.29	2.42	0.00	15.38	15.42	8.97
NILACHAL	41.79	83 Cr	—	0.00	0.00	73.41	-159.80	-78.27

Overview

Detailed Summary

Raghav Productivity Enhancers Limited is a leading manufacturer of Silica Ramming Mass, a refractory material used in induction furnaces.

The company expanded its production capacity to 288,000 MTPA by commissioning a new plant in Newai in 2022-23.

In 2023, Raghav entered the high-margin foundry market with a tie-up with Capital Refractories, supplying to foundry and casting industries worldwide.

Raghav Productivity is in a technical collaboration with JWK AB Sweden, enhancing product quality and adapting to global standards.

Sector

Refractories

Industry

Refractories / Intermediates

Market Cap

4,448 Cr

Volatility

High Risk

P/E Ratio

97.9

Industry P/E

50.1

PEG Ratio

20.2

P/B Ratio

20.7

52W High

1,066.40

52W Low

450.10

Sales CAGR

50.37%

0.63%

11.62%

10Y

10.69%

Profit CAGR

42.36%

4.85%

17.78%

10Y

35.83%

ROE

TTM

21.15%

15.35%

15.50%

10Y

16.51%

ROCE

TTM

26.52%

20.44%

20.63%

10Y

22.26%