SP Refractories Ltd Company Summary

SP Refractories Ltd Summary

SP Refractories Limited was incorporated as SP Refractories Private Limited on January 18, 2007 with the Registrar of Companies, Mumbai. The status of the Company was changed to Public Limited and name of the Company changed to SP Refractories Limited dated October 11, 2021. The fresh Certificate of Incorporation consequent to conversion was issued on October 28, 2021 by the Registrar of Companies, Mumbai. The Company is engaged in manufacturing and supplying of high quality Refractory Material made using premium grade cement, aggregates and other raw material, the final product is used by iron, steel and construction industries. The Company has a production capacity of 7000 MT per annum. The refractory materials industry is integral to various high-temperature industrial processes, such as manufacturing of Refractory materials, characterized by their ability to withstand extreme temperatures, are essential for the efficient and safe operation of furnaces, kilns, and reactors.The Company began its operations in year 2007 with purchase in manufacturing of refractory cement and castables. Prior to incorporation of the Company, Late Sri. Prabodh Kale, was running the established business of refractory cement in a Partnership Firm named Shanark Industries based out of Nagpur. Post his demise, his wife; Namita Kale took the business activities forward under SP Refractories Limited as the Promoter along with her daughters Shweta Kale and Prajakta Kale. And presently, the Company is promoted by Namita Prabodh Kale, Shweta Prabodh Kale and Prajakta Prabodh Kale.The Company has a healthy client base due to its quality product, customized solutions and large product line. The Company get clinkers manufactured from outsider on job work basis and thereafter process of crushing the clinkers, blending and packing of refractory cement in powder form carries out in its manufacturing facility for excess capacity of crushing. Further, as and when required Company purchase clinkers from vendors and carry out process of crushing the clinkers, blending and packing of refractory cement in powder form to utilize excess capacity of crushing.In March 2022, the Company made an IPO of 5,47,200 Equity Shares by raising funds aggregating to Rs. 4.92 Crore comprising a Fresh Issue of 2,97,600 Equity Shares aggregating to Rs. 2.68 Crore and Offer for Sale of 2,49,600 Equity Shares aggregating to Rs. 2.24 Crore.