Microcap steel stock engaged in the business of manufacturing and trading special shapes, custom-made refractory shapes, and alumina balls is in focus after announcing that it has secured a major expansion project of Reliance Industries Limited- Dahej & Nagothane plants.
Share Price Movement
The shares of Refractory Shapes Ltd, with a market capitalization of Rs 186.61 Crores, closed at Rs 85.6 per share hitting a 2% lower circuit on Tuesday’s trade. The shares generated a return of 14.13% since it got listed in May 2024.
About the deal
Refractory Shapes Ltd has informed that they have been awarded a major expansion project of Reliance Industries Limited- Dahej & Nagothane plants through ZEECO India Pvt Ltd for Refractory Design, Supply & installation. The entire Refractory Manufacturing will be done at Refractory Shapes Limited.
The Dahej and Nagothane plants are manufacturing facilities of Reliance Industries Limited (RIL) in India primarily involved in petrochemicals and polymer production.. Dahej Plant is located in Gujarat, and Nagothane Plant is located in Maharashtra.
Financials
The company reported an increase of 22.8% YoY from Rs 19.17 Crores in H1FY24 to Rs 23.54 Crores in H1FY25. Their Net Profits grew 38% from Rs 2.33 Crores to Rs 3.22 Crores over the same period.
Business Updates
As per a press release dated February 3, 2025, Refractory Shapes Ltd has successfully completed the supply of proprietary special refractory items for ArcelorMittal Nippon Steel India (AMNS) in Vishakhapatnam in January 2025.
Additionally, the company has secured a prestigious maintenance supply order from Mangalore Refinery & Petrochemical Ltd. Refractory Shapes Ltd has also expanded its client base by developing a new partnership with ITT, an Italy-based company specializing in refinery projects.
About Refractory Shapes Ltd
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 situated in Pune with latest equipments to produce Refractory Shapes and Castables.
Written By Adhvaitha Nayani
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