RPEL

Raghav Productivity Enhancers Limited

Silica ramming mass for induction furnaces in foundries and steel mini-mills

Industrials›Capital Goods›Industrial Products›Electrodes & Refractories

rammingmass.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1811.50
Market cap
8,319 Cr
Stock P/E
118.0
P/B
29.54
Dividend yield
0.1%
ROE (FY26)
22.4%
ROCE (FY26)
28.1%
Operating margin (FY26)
26.5%
Debt / equity (FY26)
0.02
OCF / EBITDA (FY26)
49.2%
OCF / EBITDA (3Y)
56.9%

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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What you need to know

RPEL (Raghav Productivity Enhancers) makes silica ramming mass, a refractory material used by steel and foundry customers, and describes itself as the world's largest maker of it (July 2026 results release).

Company snapshot

3rdBy market cap

Ranked among 8 companies in Electrodes & Refractories.

What we see

Positives
  • ✓Net margin of 21.3% — the business keeps a healthy share of every rupee it earns.
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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

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Sales32 Cr39 Cr45 Cr49 Cr55 Cr51 Cr58 Cr64 Cr64 Cr71 Cr87 Cr93 Cr
Operating expenses (approx.)22 Cr27 Cr33 Cr36 Cr41 Cr36 Cr43 Cr45 Cr45 Cr49 Cr61 Cr65 Cr
EBITDA10 Cr12 Cr12 Cr13 Cr14 Cr14 Cr16 Cr19 Cr19 Cr21 Cr26 Cr28 Cr
OPM %31.2%31.1%27.5%25.7%26.1%28.4%27.2%29.4%29.6%30.1%29.6%30.0%
Other income0.09 Cr0.15 Cr0.21 Cr0.38 Cr0.29 Cr0.43 Cr0.81 Cr0.62 Cr0.89 Cr0.10 Cr0.98 Cr1 Cr
Interest0.25 Cr0.24 Cr0.23 Cr0.22 Cr0.23 Cr0.19 Cr0.20 Cr0.19 Cr0.17 Cr0.16 Cr0.16 Cr0.16 Cr
Depreciation2 Cr2 Cr2 Cr1 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr
Profit before tax8 Cr10 Cr11 Cr11 Cr13 Cr13 Cr15 Cr17 Cr18 Cr19 Cr25 Cr27 Cr
Tax %26.7%23.4%22.5%22.8%22.1%22.6%21.2%20.2%21.8%21.9%20.9%20.2%
Net profit6 Cr8 Cr8 Cr9 Cr10 Cr10 Cr12 Cr14 Cr14 Cr15 Cr20 Cr22 Cr
EPS (₹)₹2.60₹3.45₹3.61₹3.81₹2.14₹2.21₹2.54₹3.02₹3.08₹3.30₹4.26₹4.71

Profit & loss (annual)

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

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales65 Cr100 Cr137 Cr133 Cr200 Cr257 CrSign in free for the trailing twelve months
Operating expenses (approx.)50 Cr75 Cr101 Cr93 Cr146 Cr182 CrSign in free for the trailing twelve months
EBITDA15 Cr25 Cr36 Cr40 Cr54 Cr75 CrSign in free for the trailing twelve months
OPM %23.0%24.8%26.1%30.2%26.9%29.3%Sign in free for the trailing twelve months
Other income0.11 Cr1 Cr0.44 Cr0.38 Cr1 Cr2 CrSign in free for the trailing twelve months
Interest0.59 Cr0.42 Cr0.15 Cr0.67 Cr0.87 Cr0.72 CrSign in free for the trailing twelve months
Depreciation2 Cr2 Cr3 Cr5 Cr6 Cr7 CrSign in free for the trailing twelve months
Profit before tax12 Cr24 Cr34 Cr35 Cr48 Cr70 CrSign in free for the trailing twelve months
Tax %25.2%24.4%24.9%25.4%22.5%21.3%Sign in free for the trailing twelve months
Net profit9 Cr18 Cr25 Cr26 Cr37 Cr55 CrSign in free for the trailing twelve months
EPS (₹)₹8.99₹15.90₹21.97₹11.31₹8.05₹11.94Sign in free for the trailing twelve months
Dividend payout %0.0%6.1%2.2%4.4%5.6%8.4%Sign in free for the trailing twelve months
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

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital11 Cr11 Cr11 Cr23 Cr46 Cr46 Cr
Reserves54 Cr98 Cr122 Cr135 Cr148 Cr199 Cr
Borrowings—6 Cr10 Cr9 Cr7 Cr5 Cr
Other liabilities10 Cr18 Cr18 Cr19 Cr31 Cr34 Cr
Total liabilities75 Cr132 Cr161 Cr186 Cr231 Cr284 Cr
Fixed assets (net)28 Cr27 Cr27 Cr88 Cr93 Cr97 Cr
CWIP0.03 Cr31 Cr59 Cr0.34 Cr2 Cr4 Cr
Investments0 Cr2 Cr6 Cr14 Cr34 Cr41 Cr
Loans & advances0.01 Cr0.03 Cr0.0093 Cr0.01 Cr0.02 Cr0.05 Cr
Inventories9 Cr12 Cr18 Cr28 Cr35 Cr57 Cr
Trade receivables18 Cr36 Cr37 Cr40 Cr51 Cr58 Cr
Cash & bank7 Cr3 Cr2 Cr4 Cr8 Cr7 Cr
Other assets13 Cr22 Cr12 Cr12 Cr8 Cr19 Cr
Total assets75 Cr132 Cr161 Cr186 Cr231 Cr284 Cr

Cash flows

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

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity11 Cr9 Cr20 Cr20 Cr39 Cr37 Cr
Cash from investing-13 Cr-42 Cr-24 Cr-15 Cr-30 Cr-31 Cr
Cash from financing8 Cr29 Cr3 Cr-3 Cr-5 Cr-7 Cr
Net cash flow7 Cr-4 Cr-0.63 Cr2 Cr4 Cr-1 Cr
Free cash flow (OCF − Capex)9 Cr-27 Cr-14 Cr11 Cr25 Cr23 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.7%21.0%23.6%21.2%24.2%28.1%
ROE %14.1%16.4%18.9%16.4%19.1%22.4%
Debtor days103131981099382
Inventory days154171168256233288
Days payable77135104119120105
Cash conversion cycle179168162246207265
OCF / EBITDA %75.6%35.6%55.7%50.9%72.0%49.2%
OCF / EBITDA % (3 years)——53.0%48.8%61.0%56.9%
Debt / equity0.000.050.070.060.040.02
Current ratio6.933.204.415.354.935.64
Net debt / EBITDA-0.450.140.230.11-0.03-0.02