Rhi Magnesita India Limited

NSE: RHIM · Electrodes & Refractories

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52W Range₹323 – ₹500

Snapshot

Unlock Rhi Magnesita India Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

RHI Magnesita India Limited is a leading manufacturer and supplier of high-grade refractory products, including monolithics, bricks, and ceramic paper. The company primarily serves the iron and steel industry, alongside sectors such as cement, non-ferrous metals, glass, and energy.

Business Model

The company generates revenue through the manufacturing and trading of specialized refractory solutions and the provision of associated management services. It operates as a subsidiary of Dutch US Holding B.V. and maintains a global footprint by exporting to approximately 70 countries.

  • Export reach:70 countries
  • Incorporation year:2010

Growth Outlook

Growth is driven by the sustained demand for high-performance refractories within the domestic steel industry and the expansion of its global export network. The company continues to leverage its technical expertise to provide comprehensive lining management services to industrial clients.

Key Risks

  • Cyclicality of Steel Industry. The company's financial performance is highly sensitive to the capital expenditure and production cycles of the global steel sector.
  • Raw Material Price Volatility. Fluctuations in the cost of essential raw materials like magnesite and alumina can significantly impact operating margins.
  • Geopolitical and Trade Risks. As an exporter to 70 countries, the company is exposed to international trade barriers, currency fluctuations, and geopolitical instability.

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Key Metrics

REVENUE

₹4,074 Cr

TTM · consolidated

+8.5%YoY

NET PROFIT

₹-354 Cr

TTM · consolidated

-314.4%YoY

EPS

₹-17.12

TTM · consolidated

-314.5%YoY

RETURN ON EQUITY

-9.4%

TTM · consolidated

-13.5 ppYoY

RETURN ON CAPITAL EMPLOYED

-5.8%

TTM · consolidated

-11.6 ppYoY

P/E

-22.5×

Q1 FY27 · consolidated

-22.5 vs -16.1x5Y avg

EV/EBITDA

15.9x

Q1 FY27 · consolidated

15.9 vs 20.2x5Y avg

EBITDA MARGIN

12.6%

TTM · consolidated

+0.6 ppYoY

NET PROFIT MARGIN

6.4%

Q1 FY27 · consolidated

+2.7 ppYoY

DEBT TO EQUITY

0.1x

Q1 FY27 · consolidated

+0.03xYoY

Peers · Electrodes & Refractories

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Rhi Magnesita India LimitedRHIM
₹8,030 Cr-22.5×15.948.5%12.6%-9.4%-5.8%-13.8%
Vesuvius India LimitedVESUVIUS
₹8,039 Cr26.0×15.2433.5%19.5%19.3%25.4%-20.5%
Raghav Productivity Enhancers Ltd.RPEL
₹7,860 Cr133.2×89.9833.9%30.6%28.6%35.1%+180.3%
HEG Advanced Materials LimitedHEG
₹4,579 Cr13.4×9.5119.7%21.2%7.8%7.5%-53.4%
Monolithisch IndMONOLITH
₹2,626 Cr———22.0%——+179.1%
IFGL Refractori.IFGLEXPOR
₹1,421 Cr33.4×10.6815.4%7.5%3.6%5.5%-33.0%

As of Q1 FY27

Financials