ORIENTCER

ORIENT CERATECH LIMITED

Refractory raw materials and abrasives for steel, cement, and oilfield services

Industrials›Capital Goods›Industrial Products›Electrodes & Refractories

orientceratech.com

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Key metrics

Price as of 2026-10-19

Stock price

₹42.01

Market cap

503 Cr

Stock P/E

19.2

P/B

1.66

Dividend yield

0.6%

ROE (FY26)

7.2%

ROCE (FY26)

9.8%

Operating margin (FY26)

6.1%

Debt / equity (FY26)

0.13

OCF / EBITDA (FY26)

119.5%

OCF / EBITDA (3Y)

53.6%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Orient Ceratech makes and trades alumina refractories and monolithic products, ceramic raw materials and specialist ceramics, products tied to steel, infrastructure and oil and gas demand.

Company snapshot

7thBy market cap

Ranked among 8 companies in Electrodes & Refractories.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 99.1% of revenue

Segment	Revenue share	Revenue	PBT	Assets
Alumina refactories & monolithics products & bauxite ores	99.1%	74 Cr	8 Cr	302 Cr
Power division	0.9%	0.65 Cr	-1 Cr	39 Cr

What we see

Positives

✓Debt-to-equity of 0.13x — the company is largely funded by its own money, not borrowed funds.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

Metric	Sept 2023	Dec 2023	Mar 2024	Jun 2024	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	83 Cr	75 Cr	83 Cr	98 Cr	70 Cr	74 Cr	85 Cr	98 Cr	114 Cr	93 Cr	98 Cr	101 Cr
Operating expenses (approx.)	72 Cr	67 Cr	75 Cr	90 Cr	63 Cr	68 Cr	75 Cr	89 Cr	101 Cr	82 Cr	89 Cr	84 Cr
EBITDA	11 Cr	8 Cr	8 Cr	8 Cr	7 Cr	6 Cr	9 Cr	9 Cr	13 Cr	12 Cr	9 Cr	16 Cr
OPM %	13.4%	10.8%	9.6%	8.5%	9.7%	8.4%	10.9%	9.5%	11.2%	12.4%	9.4%	16.1%
Other income	0.05 Cr	0.66 Cr	1 Cr	0.72 Cr	1 Cr	1 Cr	0.92 Cr	1 Cr	2 Cr	1 Cr	6 Cr	2 Cr
Interest	0.80 Cr	0.53 Cr	1 Cr	2 Cr	2 Cr	2 Cr	2 Cr	1 Cr	1 Cr	1 Cr	1 Cr	1 Cr
Depreciation	3 Cr	4 Cr	3 Cr	4 Cr	4 Cr	4 Cr	4 Cr	4 Cr	3 Cr	4 Cr	7 Cr	3 Cr
Profit before tax	7 Cr	7 Cr	5 Cr	4 Cr	3 Cr	2 Cr	5 Cr	5 Cr	10 Cr	6 Cr	7 Cr	9 Cr
Tax %	24.5%	22.7%	10.5%	25.3%	28.7%	20.8%	24.2%	21.5%	23.7%	25.1%	20.3%	2.7%
Net profit	5 Cr	5 Cr	4 Cr	3 Cr	2 Cr	2 Cr	3 Cr	4 Cr	7 Cr	4 Cr	6 Cr	9 Cr
EPS (₹)	₹0.44	₹0.44	₹0.36	₹0.24	₹0.16	₹0.14	₹0.29	₹0.36	₹0.63	₹0.37	₹0.47	₹0.71

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	267 Cr	302 Cr	313 Cr	327 Cr	404 Cr	Sign in free for the trailing twelve months
Operating expenses (approx.)	250 Cr	277 Cr	279 Cr	296 Cr	361 Cr	Sign in free for the trailing twelve months
EBITDA	17 Cr	26 Cr	34 Cr	31 Cr	43 Cr	Sign in free for the trailing twelve months
OPM %	6.5%	8.5%	10.9%	9.4%	10.6%	Sign in free for the trailing twelve months
Other income	6 Cr	8 Cr	3 Cr	4 Cr	11 Cr	Sign in free for the trailing twelve months
Interest	3 Cr	4 Cr	3 Cr	7 Cr	5 Cr	Sign in free for the trailing twelve months
Depreciation	11 Cr	12 Cr	14 Cr	14 Cr	18 Cr	Sign in free for the trailing twelve months
Profit before tax	9 Cr	18 Cr	24 Cr	13 Cr	28 Cr	Sign in free for the trailing twelve months
Tax %	21.2%	21.5%	21.8%	24.9%	22.7%	Sign in free for the trailing twelve months
Net profit	7 Cr	14 Cr	19 Cr	10 Cr	22 Cr	Sign in free for the trailing twelve months
EPS (₹)	₹0.57	₹1.19	₹1.59	₹0.83	₹1.83	Sign in free for the trailing twelve months
Dividend payout %	26.2%	12.6%	16.2%	31.0%	14.1%	Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12 Cr	12 Cr	12 Cr	12 Cr	12 Cr
Reserves	236 Cr	248 Cr	264 Cr	271 Cr	290 Cr
Borrowings	38 Cr	15 Cr	58 Cr	72 Cr	40 Cr
Other liabilities	56 Cr	52 Cr	73 Cr	63 Cr	74 Cr
Total liabilities	341 Cr	327 Cr	406 Cr	418 Cr	416 Cr
Fixed assets (net)	146 Cr	148 Cr	160 Cr	149 Cr	152 Cr
CWIP	0.63 Cr	2 Cr	5 Cr	26 Cr	9 Cr
Investments	0 Cr	0 Cr	0 Cr	0 Cr	0 Cr
Loans & advances	0 Cr	0 Cr	0 Cr	0.15 Cr	0.12 Cr
Inventories	64 Cr	64 Cr	105 Cr	116 Cr	125 Cr
Trade receivables	75 Cr	73 Cr	79 Cr	77 Cr	77 Cr
Cash & bank	2 Cr	6 Cr	4 Cr	5 Cr	8 Cr
Other assets	53 Cr	33 Cr	54 Cr	44 Cr	45 Cr
Total assets	341 Cr	327 Cr	406 Cr	418 Cr	416 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operating activity	33 Cr	44 Cr	-15 Cr	21 Cr	51 Cr
Cash from investing	-36 Cr	-11 Cr	-24 Cr	-24 Cr	-8 Cr
Cash from financing	2 Cr	-30 Cr	37 Cr	4 Cr	-40 Cr
Net cash flow	-1 Cr	2 Cr	-2 Cr	1 Cr	3 Cr
Free cash flow (OCF − Capex)	-7 Cr	28 Cr	-42 Cr	-4 Cr	40 Cr

Ratios

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROCE %	4.1%	7.9%	8.3%	5.7%	9.8%
ROE %	2.8%	5.5%	6.9%	3.5%	7.2%
Debtor days	102	88	92	86	69
Inventory days	403	236	292	335	265
Days payable	201	105	135	120	105
Cash conversion cycle	304	219	249	301	230
OCF / EBITDA %	189.6%	170.3%	-42.6%	68.3%	119.5%
OCF / EBITDA % (3 years)	—	—	80.6%	55.5%	53.6%
Debt / equity	0.15	0.06	0.21	0.25	0.13
Current ratio	2.37	3.64	2.26	2.77	3.07
Net debt / EBITDA	2.04	0.35	1.58	2.15	0.74