There’s No Escaping SP Refractories Limited’s (NSE:SPRL) Muted Earnings Despite A 32% Share Price Rise
SP Refractories Limited (NSE:SPRL) shares have had a really impressive month, gaining 32% after a shaky period beforehand. Notwithstanding the latest gain, the annual share price return of 5.1% isn’t as impressive.
Although its price has surged higher, SP Refractories may still be sending very bullish signals at the moment with its price-to-earnings (or “P/E”) ratio of 13.5x, since almost half of all companies in India have P/E ratios greater than 28x and even P/E’s higher than 54x are not unusual. Although, it’s not wise to just take the P/E at face value as there may be an explanation why it’s so limited.
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