Base material – Specifies the material V-Ray uses while rendering the object.
GI material – Specifies the material V-Ray uses while calculating the GI solution.
Reflect mtl material – This is the material V-Ray uses to render the object with, when the object is seen in reflections. For more information, see Using the Reflect material example below.
Refract mtl material – This is the material V-Ray uses to render the object with, when the object is seen in refractions. For more information, see Using the Refract material example below.
Shadow mtl material – This is the material that is used to render shadows cast from the object.