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SP RefractoriesNSE:SPRL 68 Return-on-Tangible-Asset is 14.09% as of Mar. 2026, which is 84% above its 10-year median of 7.67. GuruFocus rates NSE:SPRL with a GF Score™ of 68/100 and a GF Value™ of ₹131.72 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 411 Building Materials companies, SP Refractories ranks better than 95.38% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. SP Refractories's annualizedNet Income for the quarter that ended in Mar. 2026 was ₹26.6 Mil. SP Refractories's average total tangible assets for the quarter that ended in Mar. 2026 was ₹189.2 Mil. Therefore, SP Refractories's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 14.09%.
The historical rank and industry rank for SP Refractories's Return-on-Tangible-Asset or its related term are showing as below:
NSE:SPRL'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 2.6 Med: 7.67 Max: 18.74
Current: 18.67
During the past 8 years, SP Refractories's highest Return-on-Tangible-Asset was 18.74%. The lowest was 2.60%. And the median was 7.67%.
NSE:SPRL's Return-on-Tangible-Asset is ranked better than 95.38% of 411
companies
in the Building Materials industry
Industry Median: 2.34
vs NSE:SPRL: 18.67
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
SP Refractories Return-on-Tangible-Asset Related Terms
SP Refractories Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for SP Refractories's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the Building Materials subindustry, SP Refractories's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, SP Refractories's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where SP Refractories's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is two times the semi-annual (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 14.09% mean?
SP Refractories (NSE:SPRL) has a Return-on-Tangible-Asset of 14.09% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SP Refractories and its competitors. This is 84% above median its historical median of 7.67. Over the past decade, SP Refractories' Return-on-Tangible-Asset has ranged from 2.60 to 18.74. According to the industry distribution chart, SP Refractories ranks #19 out of 411 companies in the Building Materials industry, placing it in the top 4.6%.
Is SP Refractories' Return-on-Tangible-Asset too high?
SP Refractories' current Return-on-Tangible-Asset of 14.09% is 84% above median its 10-year median of 7.67. Over the past 10 years, this metric has ranged from a low of 2.60 to a high of 18.74. The Building Materials industry median Return-on-Tangible-Asset is 2.34. SP Refractories' value of 14.09% is 502.1% above this industry median. Based on the distribution chart, SP Refractories ranks #19 out of 411 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 68/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SP Refractories' Return-on-Tangible-Asset compare to CRH and VMC?
According to the Building Materials industry distribution chart, SP Refractories ranks #19 out of 411 companies for Return-on-Tangible-Asset. This places SP Refractories in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.34. SP Refractories' value of 14.09% is 502.1% above this benchmark. Historically, SP Refractories' own Return-on-Tangible-Asset has ranged from 2.60 to 18.74 over the past decade. While the company's 10-year median is 7.67 vs. the industry median of 2.34, SP Refractories has consistently been above 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 Return-on-Tangible-Asset for a Building Materials company?
The median Return-on-Tangible-Asset among Building Materials companies is 2.34, based on 411 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SP Refractories's current Return-on-Tangible-Asset of 14.09% is 502.1% above 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on SP Refractories and its competitors. For the Building Materials industry, the median Return-on-Tangible-Asset is 2.34 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SP Refractories's current Return-on-Tangible-Asset is 14.09%, which is 84% above median its own 10-year median of 7.67. 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 ₹131.72, compared to a current price of ₹103.00 — trading 21.8% below its estimated fair value. The current Return-on-Tangible-Asset is 14.09%, which is 84% above median its 10-year median of 7.67 and 502.1% above the Building Materials industry median of 2.34. SP Refractories' overall GF Score™ is 68/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For SP Refractories (NSE:SPRL), the current Return-on-Tangible-Asset is 14.09% 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 ₹103.00 is trading 21.8% below its estimated GF Value™ of ₹131.72.
GuruFocus considers SP Refractories to be Modestly Undervalued.
Key valuation signals for NSE:SPRL:
Return-on-Tangible-Asset: 14.09% (84% above median its 10-year median of 7.67)
GF Value™: ₹131.72 vs. price of ₹103.00 (21.8% below fair value)
Industry Position: 502.1% above the Building Materials median (#19 of 411)
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.
68GF Score
Get the complete analysis for NSE:SPRL
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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