TipHub

₹40.25

▲ +1.8 +4.68%

As of 06 Nov 2026 · delayed

NSE Listed · Refractories

ESM · ESM 1
What does ESM · ESM 1 mean?
NSE · Enhanced Surveillance Measure (ESM 1)ESM is the micro/small-cap ramp brake: it fires when a sub-₹1000cr stock's price variation is extreme versus its peer universe, or it's loss-making with a stretched valuation. Practical meaning: intraday speculation is shut off (Trade-for-Trade — every purchase must be taken to delivery), margins go to 100%, and at Stage II price discovery moves to periodic call auctions inside a 2% band.Criteria: Micro / small-cap companies (main-board market-cap below ₹500 cr) shortlisted on objective price parameters — high-low price variation, close-to-close price variation and standard deviation. Stage I = 100% margin + a ≤5% price band + Trade-for-Trade; Stage II = a 2% price band + periodic call auction.Exchange notice · 2026-10-28

Refractory Shapes Limited (REFRACTORY)

Volume: 3,000Avg Vol 1W: 3,400Avg Vol 1M: 16,72752W Range:₹23.15₹61.2
NSE BSE www.refshape.com AI Report
Key Ratios
Checked just now
Market Cap₹88 Cr
Current Price₹40.25
Previous Close₹38.45
High / Low (52w)₹61.2 / ₹23.15
Volume3,000
Avg Vol (1W)3,400
Avg Vol (1M)16,727
Stock P/E19.35
Book Value₹22.69
Dividend Yield0%
ROE9.15%
ROA331.64%
Revenue (TTM)—
Revenue Growth44.93%
Profit Margin7.95%
Total Debt₹10 Cr
Shares Outstanding2 Cr
Face Value—
EPS (TTM)₹2.08
P/B1.77
Debt / Equity0.38
50 DMA₹33.41
200 DMA₹35.89
Day change+4.68%
SurveillanceESM · ESM 1
Price Chart
₹40.25▼ 26.55% · 1Y
₹64₹241.1L
2025-11-06
2026-11-06

20-day avg volume: 18K shares

Pros
  • Company is almost debt-free.
Profit & Loss (Annual)
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue₹22 Cr₹26 Cr₹39 Cr₹43 Cr₹60 Cr₹59 Cr
EBITDA₹3 Cr₹4 Cr₹4 Cr₹7 Cr₹9 Cr₹7 Cr
Net Profit₹2 Cr₹3 Cr₹2 Cr₹4 Cr₹6 Cr₹5 Cr
EPS0.991.821,917.792.632.872.2
Balance Sheet
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets₹27 Cr₹37 Cr₹49 Cr₹52 Cr₹70 Cr₹77 Cr
Total Liabilities₹15 Cr₹22 Cr₹32 Cr₹31 Cr₹24 Cr₹27 Cr
Equity₹12 Cr₹15 Cr₹17 Cr₹21 Cr₹46 Cr₹50 Cr
Total Debt₹9 Cr₹11 Cr————
Cash Flow
MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating₹6 Cr₹8 Cr₹6 Cr₹-1 Cr₹4 Cr₹4 Cr
Investing₹0 Cr₹-12 Cr₹-7 Cr₹-2 Cr₹-10 Cr₹-1 Cr
Financing₹-5 Cr₹3 Cr₹1 Cr₹3 Cr₹10 Cr₹3 Cr
Free Cash Flow₹6 Cr₹8 Cr₹6 Cr₹-1 Cr₹4 Cr₹4 Cr
Shareholding
Promoter 72.48% Institutions 0.4% Public 27.12%
Efficiency & Working Capital
ROCE10.3%
Interest Coverage6.6
Dividend Payout—
Debtor Days73 d
Inventory Days140 d
Payable Days33 d
Cash Conversion Cycle181 d
Working Capital Days214 d
Shareholding Details

As of 2026-09-30

Promoter72.5%
FII0.4%
DII0%
Institutions0.4%
Public27.1%
Promoter Pledge0%
No. of Shareholders757
Shareholding Pattern

Quarterly — figures in %. Latest 10 quarters.

PeriodFeb 2024Feb 2024Mar 2024May 2024May 2024Sept 2024Mar 2025Sept 2025Mar 2026Sept 2026
Promoters100%100%100%72.5%72.5%72.5%72.5%72.5%72.5%72.5%
FIIs0%0%0%6.1%6.1%0.3%0.7%0.7%0.4%0.4%
DIIs0%0%0%5.5%0.3%0%0%0%1.4%0%
Public0%0%0%16%21.2%27.2%26.9%26.9%25.7%27.1%
Promoter Pledge0%0%0%0%0%0%0%0%0%0%
No. of Shareholders777745745560722784776757
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202603————
Major Shareholders (>1%)
NameCategoryStakeShares
Dayashankar Krishna ShettyShareholding of Promoter and Promoter Group24.6%53,72,000
Pratibha Dayashankar ShettyShareholding of Promoter and Promoter Group23.9%52,13,996
Prajna Shravan ShettyShareholding of Promoter and Promoter Group23.9%52,13,996
Jinendra Kumar JainPublic Shareholding4.2%9,23,000
Praday Dayashankar ShettyShareholding of Promoter and Promoter Group0%2
Yogishwar Bola KrishnaShareholding of Promoter and Promoter Group0%2
Shravan Sadanand ShettyShareholding of Promoter and Promoter Group0%2
Suraj Sadanand ShettyShareholding of Promoter and Promoter Group0%2
Sarojini Rajeev HegdeShareholding of Promoter and Promoter Group0%0
Shobha Sadanand ShettyShareholding of Promoter and Promoter Group0%0
B Kishore ShettyShareholding of Promoter and Promoter Group0%0
Satish HegdeShareholding of Promoter and Promoter Group0%0
Vishalakshi AdyanthayaShareholding of Promoter and Promoter Group0%0
Meenakshi D PunjaShareholding of Promoter and Promoter Group0%0
Asha R ShettyShareholding of Promoter and Promoter Group0%0
Shibani Prakashchandra ShettyShareholding of Promoter and Promoter Group0%0
Rishik ShettyShareholding of Promoter and Promoter Group0%0
Rhea Shravan ShettyShareholding of Promoter and Promoter Group0%0
Radhakrishna ShettyShareholding of Promoter and Promoter Group0%0
Usha Radhakrishna ShettyShareholding of Promoter and Promoter Group0%0
Bhavya ShettyShareholding of Promoter and Promoter Group0%0
Kavitha B ShettyShareholding of Promoter and Promoter Group0%0
Divya ShettyShareholding of Promoter and Promoter Group0%0
Suresh Hegde KandavarShareholding of Promoter and Promoter Group0%0
Board of Directors
NameDesignationYear
M JothiprakashWhole-time Director2024
Siddharth KumarIndependent Director2024
Abhay Yatin NaikIndependent Director2024
Kemmannu Shashidhara RaoIndependent Director2024
Dhananjay Mayur DaveIndependent Director2024
Ravindra Venkatesh HulyalkarIndependent Director2024
Neelam MandawatCompany Sec. & Compli. Officer2024
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2026₹10252222
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202608064155
2026010102
202607054052
Company Information
Incorporated1996
AuditorSuvarna & Katdare
Investor Email[email protected]
🌐 www.refshape.com ↗

📍 B 201 Rustomjee Central Park, Chakala A.Kurla Road Andheri E, Mumbai, Maharashtra, 400069

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