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SP RefractoriesNSE:SPRL +4.95%72 Debt-to-EBITDA is 0.26 as of Mar. 2026, which is 90% below its 10-year median of 2.54. GuruFocus rates NSE:SPRL with a GF Score™ of 72/100 and a GF Value™ of ₹131.77 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 331 Building Materials companies, SP Refractories ranks better than 87.92% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for SP Refractories's Debt-to-EBITDA or its related term are showing as below:
NSE:SPRL'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.2 Med: 2.54 Max: 4.15
Current: 0.2
During the past 8 years, the highest Debt-to-EBITDA Ratio of SP Refractories was 4.15. The lowest was 0.20. And the median was 2.54.
NSE:SPRL's Debt-to-EBITDA is ranked better than 87.92% of 331
companies
in the Building Materials industry
Industry Median: 2.27
vs NSE:SPRL: 0.20
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
SP Refractories Debt-to-EBITDA Related Terms
SP Refractories Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for SP Refractories's Debt-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:SPRL vs CRH, VMC, MLM: Debt-to-EBITDA Comparison
For the Building Materials subindustry, SP Refractories's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
SP Refractories Debt-to-EBITDA vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, SP Refractories's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where SP Refractories's Debt-to-EBITDA falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is two times the quarterly (Mar. 2026) EBITDA data.
SP Refractories (NSE:SPRL) has a Debt-to-EBITDA of 0.26 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on SP Refractories. This is 90% below median its historical median of 2.54. Over the past decade, SP Refractories' Debt-to-EBITDA has ranged from 0.20 to 4.15. According to the industry distribution chart, SP Refractories ranks #40 out of 331 companies in the Building Materials industry, placing it in the top 12.1%.
Is SP Refractories' Debt-to-EBITDA too high?
SP Refractories' current Debt-to-EBITDA of 0.26 is 90% below median its 10-year median of 2.54. Over the past 10 years, this metric has ranged from a low of 0.20 to a high of 4.15. The Building Materials industry median Debt-to-EBITDA is 2.27. SP Refractories' value of 0.26 is 88.5% below this industry median. Based on the distribution chart, SP Refractories ranks #40 out of 331 companies in the Building Materials industry, which is in the top quartile — a strong position relative to peers. Overall, SP Refractories has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SP Refractories' Debt-to-EBITDA compare to CRH and VMC?
According to the Building Materials industry distribution chart, SP Refractories ranks #40 out of 331 companies for Debt-to-EBITDA. This places SP Refractories in the top 12% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 2.27. SP Refractories' value of 0.26 is 88.5% below this benchmark. Historically, SP Refractories' own Debt-to-EBITDA has ranged from 0.20 to 4.15 over the past decade. While the company's 10-year median is 2.54 vs. the industry median of 2.27, SP Refractories has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Debt-to-EBITDA for a Building Materials company?
The median Debt-to-EBITDA among Building Materials companies is 2.27, based on 331 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SP Refractories's current Debt-to-EBITDA of 0.26 is 88.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on SP Refractories. For the Building Materials industry, the median Debt-to-EBITDA is 2.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SP Refractories's current Debt-to-EBITDA is 0.26, which is 90% below median its own 10-year median of 2.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SP Refractories stock overvalued right now?
Based on GuruFocus' analysis, SP Refractories (NSE:SPRL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹131.77, compared to a current price of ₹97.60 — trading 25.9% below its estimated fair value. The current Debt-to-EBITDA is 0.26, which is 90% below median its 10-year median of 2.54 and 88.5% below the Building Materials industry median of 2.27. SP Refractories' overall GF Score™ is 72/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For SP Refractories (NSE:SPRL), the current Debt-to-EBITDA is 0.26 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is SP Refractories (NSE:SPRL) Overvalued in 2026?
Based on GuruFocus' analysis, SP Refractories stock appears to be undervalued.
The current stock price of ₹97.60 is trading 25.9% below its estimated GF Value™ of ₹131.77.
GuruFocus considers SP Refractories to be Modestly Undervalued.
Key valuation signals for NSE:SPRL:
Debt-to-EBITDA: 0.26 (90% below median its 10-year median of 2.54)
GF Value™: ₹131.77 vs. price of ₹97.60 (25.9% below fair value)
Industry Position: 88.5% below the Building Materials median (#40 of 331)
No single metric tells the full story. See the NSE:SPRL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SP Refractories Ltd is engaged in manufacturing and supplying refractory material made using hydrated lime, calcined alumina, and other raw materials. The company is involved in single segment of manufacturing and supplying of high quality refractory material. Its core focus is on refractory cement which is a niche and high-margin cement widely used in iron and steel and construction industries because of its thermal conductivity, maximum strength, and heat resistance.
72GF Score
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