INTEGRATED FILING — Other than Banks



General information about company

Scrip code 000000
NSE Symbol REFRACTORY
MSEI Symbol NOTLISTED
ISIN INE0TNX01015
Name of Company REFRACTORY SHAPES LIMITED
Type of company SME
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 16-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 09-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Half Yearly
Reporting Quarter Yearly
Nature of report standalone or consolidated Standalone
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment Electrodes & Refractories
Start date and time of board meeting 16-May-2025   11:00:00
End date and time of board meeting 16-May-2025   13:00:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Whether the company has any related party? Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure? Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure. NA
(III) Whether the company is a high value debt listed entity according to regulation 15 (1A)? No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company? Yes
Latest Date on which RPT policy is updated 2024-02-03
Indicate Company website link for updated RPT policy of the Company https://www.refshape.com/investor/corporate-policies/
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? Yes
No. of times funds raised during the quarter 1
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? No
Not applicable


Financial Results — Other than Bank
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Oct-2024 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Standalone Standalone
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Revenue From Operations
Revenue from operations 352360000 587713000
Other income 3608000 10499000
Total Income 355968000 598212000
2 Expenses
(a) Cost of materials consumed 130386000 257310000
(b) Purchases of stock-in-trade 32621000 57065000
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade 71538000 3683000
(d) Employee benefit expense 17130000 32960000
(e) Finance costs 5380000 8171000
(f) Depreciation and amortisation expense 13280000 24595000
(g) Other Expenses
1 Other Manufacturing Expenses 27435000 73143000
2 Other Expenses 20063000 60590000
Total other expenses 47498000 133733000
Total expenses 317833000 517517000
3 Profit before exceptional and extraordinary items and tax 38135000 80695000
4 Exceptional items 0 0
5 Profit before extraordinary items and tax 38135000 80695000
6 Extraordinary items 0 0
7 Profit before tax 38135000 80695000
8 Tax Expense
Current tax 10770000 21835000
Deferred tax -1635000 -1634000
Total tax expenses 9135000 20201000
9 Net Profit Loss for the period from continuing operations 29000000 60494000
10 Profit (loss) from discontinuing operations before tax 0 0
11 Tax expense of discontinuing operations 0 0
12 Net profit (loss) from discontinuing operation after tax 0 0
13 Profit (loss) for period before minority interest 29000000 60494000
14 Share of profit (loss) of associates
15 Profit (loss) of minority interest
16 Net profit (Loss) for the period 29000000 60494000
17 Details of equity share capital
Paid-up equity share capital 218000000 218000000
Face value of equity share capital 10 10
18 Reserves excluding revaluation reserve 0
19 Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations 1.33 2.77
Diluted earnings (loss) per share from continuing and discontinued operations 1.33 2.77
20 Debt equity ratio
21 Debt service coverage ratio
22 Interest service coverage ratio
23 Disclosure of notes on financial results


Remarks
20 Debt equity ratio
21 Debt service coverage ratio
22 Interest service coverage ratio


Cash flow statement — indirect
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Standalone
1 Statement of cash flows
Cash flows from used in operating activities
Profit before extraordinary items and tax 80695000
2 Adjustments for reconcile profit (loss)
Adjustments to profit (loss)
Adjustments for finance costs 8171000
Adjustments for depreciation and amortisation expense 24595000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for share-based payments 0
Other adjustments for which cash effects are investing or financing cash flow 18739000
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items 0
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments to profit (loss) 51505000
3 Adjustments for working capital
Adjustments for decrease (increase) in inventories 0
Adjustments for decrease (increase) in trade receivables -58238000
Adjustments for decrease (increase) in other current assets -29188000
Adjustments for increase (decrease) in trade payables -2786000
Adjustments for increase (decrease) in other current liabilities 0
Adjustments for provisions 0
Total adjustments for working capital -90212000
Total adjustments for reconcile profit (loss) -38707000
Net cash flows from (used in) operations 41988000
Dividends received 0
Interest paid 8171000
Interest received 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash -23183000
Net cash flows from (used in) operating activities before extraordinary items 10634000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) operating activities 10634000
4 Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property plant and equipment 394000
Purchase of property plant and equipment 101637000
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Cash advances and loans made to other parties 4918000
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 1220000
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Proceeds from government grants 0
Net cash flows from (used in) investing activities before extraordinary items -104941000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) investing activities -104941000
Cash flows from used in financing activities
Proceeds from issuing shares 186000000
Proceeds from issuing other equity instruments -19959000
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 54146000
Dividends paid 10496000
Interest paid 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash 0
Net cash flows from (used in) financing activities before extraordinary items 101399000
Proceeds from extraordinary items 0
Payment for extraordinary items 0
Net cash flows from (used in) financing activities 101399000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 7092000
6 Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 7092000
Cash and cash equivalents cash flow statement at beginning of period 32595000
Cash and cash equivalents cash flow statement at end of period 39687000


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Standalone
Equity and liabilities
1 Shareholders' funds
Share capital 218000000
Reserves and surplus 231460000
Money received against share warrants 0
Total shareholders' funds 449460000
2 Share application money pending allotment 0
3 Deferred government grants 0
4 Minority interest
5 Non-current liabilities
Long-term borrowings 104636000
Deferred tax liabilities (net) 0
Foreign currency monetary item translation difference liability account 0
Other long-term liabilities 0
Long-term provisions 0
Total non-current liabilities 104636000
6 Current liabilities
Short-term borrowings 65936000
Trade Payables
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 53876000
Total Trade payable 53876000
Other current liabilities 12181000
Short-term provisions 5356000
Total current liabilities 137349000
Total equity and liabilities 691445000
Assets
1 Non-current assets
i Property, Plant and Equipment and Intangible assets
Property, Plant and Equipment 267282000
Producing properties 0
Intangible assets 0
Preproducing properties 0
Property, Plant and Equipment capital work-in-progress 0
Intangible assets under development or work-in-progress 0
Total Property, Plant and Equipment and Intangible assets 267282000
ii Non-current investments 58261000
v Deferred tax assets (net) 958000
vi Foreign currency monetary item translation difference asset account 0
vii Long-term loans and advances 3369000
viii Other non-current assets 1008000
Total non-current assets 330878000
Current assets
Current investments 0
Inventories 167552000
Trade receivables 126891000
Cash and cash equivalents 39687000
Bank balance other than cash and cash equivalents 0
Short-term loans and advances 8060000
Other current assets 18377000
Total current assets 360567000
Total assets 691445000
Disclosure of notes on assets and liabilities


Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Oct-2024 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether results are audited or unaudited Audited Audited
Nature of report standalone or consolidated Standalone Standalone
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets
Net Segment Asset
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities
Net Segment Liabilities
Disclosure of notes on segments




Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Declaration of unmodified opinion
Auditor's opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results Yes
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Suvarna & Katdare Yes 31-Dec-2025


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income
2 Total Expenditure
3 Net Profit/(Loss)
4 Earnings Per Share
5 Total Assets
6 Total Liabilities
7 Net Worth


Signatories details

Name of CEO / Managing director
Name of CFO
Name of audit committee chairman
Name of statutory auditor
Name of other signatory, if any, with designation
Place
Date


Statement on Deviation or Variation for proceeds of Public Issue, Rights Issue, Preferential Issue, Qualified Institutions Placement Etc. (1)
Mode of Fund Raising Public Issues
Description of mode of fund raising (Applicable in case of others is selected)
Date of Raising Funds 14-May-2024
Amount Raised 186000000
Report filed for Quarter ended 31-Mar-2025
Monitoring Agency Not Applicable
Monitoring Agency Name, if applicable
Is there a Deviation / Variation in use of funds raised No
If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders
If Yes, Date of shareholder Approval
Explanation for the Deviation / Variation NA
Comments of the Audit Committee after review No Comment
Comments of the auditors, if any No Comment
Sr. Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the quarter according to applicable object Remarks if any
1 Funding of Capital expenditure towards civil construction required for Expansion of existing manufacturing unit at the existing location situated at Wankaner, Gujarat Not applicable 42978000 0 32249000 0
2 Funding of Capital expenditure towards purchase of Plant and Machineries for expanding existing manufacturing unit at the existing location situated at Wankaner, Gujarat Not applicable 25098000 0 25098000 0
3 Repayment/prepayment of all or certain of our borrowings availed of by our Company Not applicable 70000000 0 0 0
4 Purchase of Commercial Vehicle Not applicable 1100000 0 925000 0
5 General Corporate Purpose Not applicable 24564000 0 22260000 0


Signatory Details
Name of signatory Prajna Shravan Shetty
Designation of person Managing Director
Place Mumbai
Date 16-May-2025


Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)
Sr No. Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
Details of the party (listed entity /subsidiary) entering into the transaction Details of the counterparty Type of related party transaction Details of other related party transaction Value of the related party transaction as approved by the audit committee Remarks on approval by audit committee Value of transaction during the reporting period In case monies are due to either party as a result of the transaction In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments Details of the loans, inter-corporate deposits, advances or investments Notes
Name PAN Name PAN Relationship of the counterparty with the listed entity or its subsidiary Opening balance Closing balance Nature of indebtedness (loan/ issuance of debt/ any other etc.) Details of other indebtedness Cost Tenure Nature (loan/ advance/ intercorporate deposit/ investment ) Interest Rate (%) Tenure Secured/ unsecured Purpose for which the funds will be utilised by the ultimate recipient of funds (endusage)
1 REFRACTORY SHAPES LIMITED EXCEL MICRON (POONA) PVT LTD Associate Company Sale of goods or services NA 369000 411000 780000
2 REFRACTORY SHAPES LIMITED EXCEL MICRON (POONA) PVT LTD Associate Company Purchase of goods or services NA 3065000 7770000 10835000
3 REFRACTORY SHAPES LIMITED WINDSOR REFRACTORIES LTD Enterprises over which Key Managerial Personnel exercise significant influence Sale of goods or services NA 99588000 26377000 125965000
4 REFRACTORY SHAPES LIMITED WINDSOR REFRACTORIES LTD Enterprises over which Key Managerial Personnel exercise significant influence Purchase of goods or services NA 49000 49000 98000
5 REFRACTORY SHAPES LIMITED WINDSOR REFRACTORIES LTD Enterprises over which Key Managerial Personnel exercise significant influence Loan NA 1400000 3635000 5035000
Total value of transaction during the reporting period 104471000





Format for Disclosing Outstanding Default on Loans and Debt Securities
Sr. No. Particulars Amount Remarks
1. Loans / revolving facilities like cash credit from banks / financial institutions
A Total amount outstanding as on date
B Of the total amount outstanding, amount of default as on date
2. Unlisted debt securities i.e. NCDs and NCRPS
A Total amount outstanding as on date
B Of the total amount outstanding, amount of default as on date
3. Total financial indebtedness of the listed entity including short-term and long-term debt