Incorporated in the Aurangabad, in the State of Maharashtra, Marathwada Refractories Ltd is spearheaded by V D Jhunjhunwala, the managing director. The company is engaged in the business of manufacture of Magnesite Ramming mass (10,000 MT), Bricks (2,400 MT), Castables (2,400 MT) and Mangnesia Carbon Bricks (2,400 MT).

The performance of the company was satisfactory in compared to the year 1999. Sales increased by 40% in compared to the previous corresponding year. The Net profit increased by 93%. It also repaid entire term loan and loan against FDR totalling Rs 72 lacs. Presently there is no term loan liability on the company.