Nilachal Refractories (BSE: NILACHAL) is loss-making over the last 12 months, losing ₹5.04 Cr, so a P/E ratio does not apply. Its share price on 5 Nov 2026 was ₹35.00, 39% below its 52-week high. Sales grew 13% a year over 3 years. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹46 Cr. It is a small-cap company with a market cap of ₹71 Cr, ranked 46th of 58 Building Materials companies by market cap; the shares fell 11% over the past year.
- ₹36.50
- ₹36.50
- ₹35.00
- ₹35.00
- 9
Health check
- ReturnsIn line
−10.8% over a year, better than 3 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthUnder pressure
Sales +13.5% a year over 3 years, but loss-making now.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags5 to check
Loss-making over the last twelve months.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹71 Cr
- Small cap
- P/E
- n/a
- Industry 27.3
- Price to book
- −2.15
- Peers 2.12
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 4.9%
- ROCE
- n/a
- Peers 10.2%
- Debt to equity
- n/a
- Debt ₹46 Cr
- EPS (TTM)
- −₹2.45
- OPM (TTM)
- −310.6%
- Net margin 0.0%
- Sales growth
- −23.7%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 45.04
- EV/EBITDA −23.5
Strengths and risks
Risks to check
- Loss-making over the last twelve months.
- Negative net worth: liabilities exceed assets.
- Quarterly sales down 23.7% on a year ago.
- 39% below its 52-week high.
- Interest coverage of only −3.9×.
About Nilachal Refractories
Nilachal Refractories Limited provides refractory products in India. The company offers fireclay, alumina, high alumina, tar impregnated and tempered, mullite, and special bricks; and regular dense, medium cement dense, low cement dense, self-flowing, pumpable and shotcreteing, and insulating castables, as well as regular and low cement gunning, low cement gunning, and plastic and ramming. It also provides refractory mortars and coatings, and wet mortars.…
- Headquarters
- Kolkata
- Sector
- Basic Materials
- ISIN
- INE416N01013
- Website
- nilachal.in
Price range
- Avg volume (3M)
- 367
- 1-year return
- minus 10.8%
- From 52-week high
- minus 38.5%
Peers · Building Materials
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCOUltraTech Cement | 12,450.00 | plus 1.63% | 3,66,110 | 41.6 | 22.8 | 11.8% | 19.1% | 0.38 | 11.9% | plus 3.6% |
| GRASIMGrasim Industries | 3,227.00 | minus 0.02% | 2,18,884 | 38.5 | 16.8 | 4.0% | 15.0% | 1.35 | 14.3% | plus 12.0% |
| AMBUJACEMAmbuja Cements | 390.60 | plus 0.67% | 97,057 | 34.7 | 14.6 | 4.6% | 14.3% | 0.01 | – | minus 31.6% |
| SHREECEMShree Cement | 25,100.00 | plus 0.82% | 90,563 | 57.2 | 18.0 | 10.2% | 20.1% | 0.09 | 5.7% | minus 9.8% |
| JKCEMENTJ.K. Cement | 5,239.80 | minus 0.20% | 40,487 | 42.3 | 19.2 | 13.3% | 15.8% | 1.01 | 12.1% | minus 9.1% |
| DALBHARATDalmia Bharat | 1,470.30 | plus 0.27% | 27,602 | 56.3 | 9.6 | 7.0% | 16.5% | 0.57 | 3.0% | minus 28.5% |
| ACCACC | 1,236.20 | plus 0.77% | 23,214 | 26.4 | 7.9 | 10.4% | 8.7% | 0.02 | – | minus 33.1% |
| NILACHALNilachal Refractories | 35.00 | 0.00% | 71 | – | – | – | −310.6% | – | 13.5% | minus 10.8% |
| Median of 7 peers | – | 0.67% | 90,563 | 41.6 | 16.8 | 10.2% | 15.8% | 0.38 | 11.9% | −9.8% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| – | 0.4 | 0.4 | 0.5 | – | |
| – | 0.9 | 4 | 1 | – | |
| −0.3 | −0.5 | −3.6 | −0.5 | −0.5 | |
| – | −106.6% | −799.2% | −110.1% | – | |
| 0 | 0.2 | 0.3 | 0.3 | 0.2 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.2 | |
| 0 | 0.1 | 0.1 | 0.1 | 0 | |
| −0.4 | −0.5 | −3.5 | −0.4 | −0.5 | |
| – | – | – | 16.9% | −4.6% | |
| −0.4 | −0.5 | −3.5 | −0.4 | −0.6 | |
| -0.21 | -0.27 | -1.73 | -0.18 | -1.54 |
Profit & loss
- Sales CAGR 3Y
- +13.5%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 1.1 | 1.3 | 0.9 | 1.5 | |
| – | +21.0% | minus 26.2% | +63.6% | |
| 2.3 | 2.6 | 1.9 | 3 | |
| −1.3 | −1.4 | −1 | −1.4 | |
| −121.3% | −105.9% | −103.2% | −93.0% | |
| 0 | 1.8 | 0.1 | 0.7 | |
| – | 0.4 | 0.2 | 0.4 | |
| 0.7 | 0.6 | 0.5 | 0.5 | |
| 0 | −0.7 | −20.5 | −3.3 | |
| −1.9 | −1.2 | −22.1 | −4.9 | |
| 5.7% | −440.7% | 0.4% | 1.5% | |
| −1.8 | −6.5 | −22 | −4.9 | |
| -0.88 | -3.19 | -10.81 | -2.38 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 20.4 | 20.4 | 20.4 | 20.4 | |
| −19.8 | −26.3 | −48.3 | −53.2 | |
| 14.2 | 14.8 | 16.2 | 17.6 | |
| 35.2 | 31.7 | 30.9 | 29.8 | |
| 50 | 40.5 | 19.2 | 14.6 | |
| 35.8 | 35.3 | 14.4 | 10.6 | |
| 31.5 | 31.5 | 28.7 | 28.7 | |
| – | 0.1 | 0.1 | 0.1 | |
| 0.1 | 0 | 0.1 | 0 | |
| −17.4 | −26.3 | −24.1 | −24.8 | |
| 50 | 40.5 | 19.2 | 14.6 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −0.3 | −0.3 | −1.2 | −1.4 | |
| 0 | 0.1 | 1.6 | 0.4 | |
| 0.1 | 0.2 | −0.4 | 1 | |
| −0.1 | −0.1 | 0 | −0 | |
| −0 | −0 | −0.2 | −0 | |
| −0.3 | −0.3 | −1.4 | −1.4 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.