RHI Magnesita India Reports Rs 40.2 bn Revenue and Strong Cash Flow

02 Jun 2026 CW Team

Adjusted earnings before interest, taxes, depreciation and amortisation at Rs 4.77 bn and adjusted profit after tax at Rs 1.8 bn were reported, with net debt to EBITDA turning negative at minus 0.1x. Operating cash flow for the year amounted to Rs 4.09 bn, underpinning liquidity and balance sheet strength. Management excluded a one-time impairment of goodwill and employee costs related to the new wage code from adjusted measures.

The chairman, managing director and chief executive officer outlined that resilience, agility and disciplined execution underpinned performance and that structural growth drivers in steel and cement sectors continued to create opportunities for technology-led and sustainability-focused providers. The company said it advanced competitiveness by de-commoditising the refractory business through the fourPRO model, offering integrated value-added solutions to enhance price realisation and deepen customer integration. These measures were presented as improving long-term contract visibility.

RHI Magnesita India noted a manufacturing footprint comprising eight state-of-the-art plants, two mines, two mechanism units, three main offices and 35 site offices, supported by a workforce of more than 6,000 skilled employees and a research and development centre at Bhiwadi. The company serves customers across steel, iron, cement, non-ferrous metals and glass and supplies magnesia and alumina based bricks and specialty refractory products. The company is listed on the Bombay Stock Exchange and the National Stock Exchange.

RHI Magnesita India Limited, the leading manufacturer and supplier of high-grade refractory products, systems and solutions, reported audited consolidated results for the year ended March 31, 2026. The company recorded revenue from operations of Rs 40.2 billion (bn) for fiscal 2026, representing year-on-year growth of nine per cent, and shipment volumes of 523,000 t, up five per cent. The results reflected pressures from pricing, excess industry capacity and inflationary trends while strategic initiatives supported resilience. Adjusted earnings before interest, taxes, depreciation and amortisation at Rs 4.77 bn and adjusted profit after tax at Rs 1.8 bn were reported, with net debt to EBITDA turning negative at minus 0.1x. Operating cash flow for the year amounted to Rs 4.09 bn, underpinning liquidity and balance sheet strength. Management excluded a one-time impairment of goodwill and employee costs related to the new wage code from adjusted measures. The chairman, managing director and chief executive officer outlined that resilience, agility and disciplined execution underpinned performance and that structural growth drivers in steel and cement sectors continued to create opportunities for technology-led and sustainability-focused providers. The company said it advanced competitiveness by de-commoditising the refractory business through the fourPRO model, offering integrated value-added solutions to enhance price realisation and deepen customer integration. These measures were presented as improving long-term contract visibility. RHI Magnesita India noted a manufacturing footprint comprising eight state-of-the-art plants, two mines, two mechanism units, three main offices and 35 site offices, supported by a workforce of more than 6,000 skilled employees and a research and development centre at Bhiwadi. The company serves customers across steel, iron, cement, non-ferrous metals and glass and supplies magnesia and alumina based bricks and specialty refractory products. The company is listed on the Bombay Stock Exchange and the National Stock Exchange.

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