ORIENTCER

Orient Ceratech financials

Market cap
₹550 Cr
Sector
Capital Goods

What Orient Ceratech Limited does

Orient Ceratech Limited (formerly Orient Abrasives Limited) runs a Refractory division supplying refractory and ceramic products used mainly by the steel and casting industries, and an Oil and Gas division making Ceramic Proppants used in hydraulic fracturing to extend the life of oil and gas wells. It also generates power for sale/captive use through 11.1 MW of wind turbines in Rajasthan and Karnataka and 18 MW of thermal plants (9 MW coal-based and 9 MW furnace oil-based). Refractory and ceramic manufacturing is also carried out through its wholly owned subsidiary, Orient Advanced Materials Private Limited, with a second subsidiary, Orient Advanced Materials FZE, handling trading of ceramic products overseas.

Segments

  • Refractory
  • Oil & Gas (Ceramic Proppants)
  • Wind Power
  • Thermal Power
Wind power installed capacity
11.1 MW (Rajasthan & Karnataka)
Thermal power installed capacity
18 MW (9 MW coal-based + 9 MW furnace oil-based)
Manufacturing works location
GIDC Industrial Area, Porbandar, Gujarat
Wholly owned subsidiaries
2 (Orient Advanced Materials Pvt. Ltd. - manufacturing; Orient Advanced Materials FZE - trading)
Business divisions
4 (Refractory, Oil & Gas/Proppants, Wind Power, Thermal Power)
Founded 1971Headquarters Mumbai, Maharashtra, India Company website

Quarterly results

Q1 FY27: revenue up 4.6%, net profit up 99.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue70 74 85 96 114 +61%93 +26%97 +15%101 +5%
EBITDA7 6 9 8 13 +79%12 +86%11 +24%16 +108%
Net profit2 2 3 4 7 +305%4 +159%6 +63%9 +99%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +18.5% 1Y

₹35.0₹40.0₹45.0₹50.0₹55.0Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹38.83 on 10 Sept 2025 → ₹46.01. High ₹55.07 (2 Jan 2026), low ₹34.46 (30 Mar 2026).

Financials, as filed

Revenue grew 9.8% a year over 3 years, FY23 to FY26. Operating margin widened to 10.9%.

Year endingFY23FY24FY25FY26
Revenue₹302 Cr₹313 Cr₹327 Cr₹400 Cr
Operating profit₹26 Cr₹34 Cr₹31 Cr₹44 Cr
Operating margin8.5%10.9%9.4%10.9%
Interest₹3 Cr₹3 Cr₹7 Cr₹5 Cr
Depreciation₹12 Cr₹14 Cr₹14 Cr₹13 Cr
Net profit₹14 Cr₹19 Cr₹10 Cr₹22 Cr
Net margin4.7%6.1%3.0%5.5%
Cash from operations₹44 Cr₹-14 Cr₹21 Cr₹51 Cr
Free cash flow₹29 Cr₹-37 Cr₹-4 Cr₹43 Cr
ROCE8.0%8.0%6.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY11FY22FY23FY24FY25FY26
Equity capital₹12 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr₹12 Cr
Reserves₹172 Cr₹236 Cr₹248 Cr₹264 Cr₹280 Cr₹290 Cr
Borrowings₹92 Cr₹38 Cr₹15 Cr₹58 Cr₹47 Cr₹40 Cr
Other liabilities₹59 Cr₹56 Cr₹52 Cr₹73 Cr₹73 Cr₹74 Cr
Total liabilities₹335 Cr₹341 Cr₹327 Cr₹406 Cr₹412 Cr₹416 Cr
Fixed assets₹140 Cr₹147 Cr₹149 Cr₹160 Cr₹168 Cr₹152 Cr
Capital work in progress₹16 Cr₹1 Cr₹2 Cr₹5 Cr₹2 Cr₹9 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other assets₹178 Cr₹193 Cr₹176 Cr₹241 Cr₹242 Cr₹255 Cr
Total assets₹335 Cr₹341 Cr₹327 Cr₹406 Cr₹412 Cr₹416 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −0.42 pp while promoters added +0.32 pp. The shareholder count shrank 4% to 26,226.

Promoters
63.9%
FIIs
13.3%
Public
22.8%

Since Jun 2025

  • Public −0.42 pp
  • Promoters +0.32 pp
  • FIIs +0.09 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 63.6%, FIIs 13.2%, Public 23.2%.Dec '23: Promoters 63.6%, FIIs 13.3%, Public 23.1%.Mar '24: Promoters 63.6%, FIIs 13.3%, Public 23.2%.Jun '24: Promoters 63.6%, FIIs 13.2%, Public 23.2%.Sep '24: Promoters 63.6%, FIIs 13.2%, Public 23.2%.Dec '24: Promoters 63.6%, FIIs 13.2%, Public 23.2%.Mar '25: Promoters 63.6%, FIIs 13.2%, Public 23.2%.Jun '25: Promoters 63.6%, FIIs 13.2%, Public 23.2%.Sep '25: Promoters 63.6%, FIIs 13.3%, Public 23.1%.Dec '25: Promoters 63.9%, FIIs 13.4%, Public 22.7%.Mar '26: Promoters 63.9%, FIIs 13.3%, Public 22.8%.Jun '26: Promoters 63.9%, FIIs 13.3%, Public 22.8%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Orient Ceratech Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Cura Global Holdings Limited 23.73%unchanged
Bombay Minerals Limited 23.72%unchanged
Legends Global Opportunities (Singapore) Pte. Ltd. FPI fund8.75%unchanged
Ashapura International Limited 8.35%unchanged
Manan Chetan Shah 5.70%unchanged
Investor Education And Protection Fund Authority Ministry 3.04%unchanged
Albula Investment Fund Ltd FPI fund2.73%unchanged
Chetan Navnitlal Shah 2.16%unchanged
M7 Global Fund Pcc - Cell Dewcap Fund FPI fund1.72%unchanged
Himani Chetan Shah 0.14%unchanged
Chaitali Nishit Salot 0.09%unchanged
Ankur Hitendra Shah 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Fair

To justify its price of ₹46, this stock must grow earnings at 14% every year for 7 years. Our analysis caps realistic growth at ~15%. At that growth it is worth ₹50 — upside of 9%.

Growth the price implies
13.7% a year
for 7 years, fading to 4%
It has actually compounded at
15.4% a year
net profit, FY23–FY26 · EPS 15.4%
The gap
-0.0 pp
9% downside if it only repeats history
Price today ₹46.01 Value at the reference growth ₹50.27

Change the assumptions yourself →

Learn to analyse Orient Ceratech Limited

Guides on how to read this kind of business and the numbers that matter.