Date: 29 May 2026

Financial Performance Highlights - FY2026

RHI Magnesita India Limited reported audited consolidated financial results for the year ended March 31, 2026 (FY2026).

Key Financial Metrics:

  • Revenue from operations: ₹4,020 crore (9% year-on-year growth)
  • Shipment Volumes: 523 KT (5% year-on-year growth)
  • Adjusted EBITDA: ₹477 crore (excluding one-time exceptional items)
  • Adjusted PAT: ₹180 crore (excluding one-time exceptional items)
  • Net Debt/EBITDA: -0.1x (turned negative)
  • Operating cash flows: ₹409 crore

Exceptional Items Excluded from Adjusted Figures:

  • Impairment of goodwill (recognized due to geopolitical situation and market over-capacity)
  • Employee costs on account of change in New Wage Code

Business Context and Challenges

The company operated in a challenging environment characterized by:

  • Pricing pressures
  • Excess industry capacity
  • Inflationary trends
  • Intense competition
  • Evolving geopolitical developments leading to elevated energy and freight costs

Strategic Initiatives and Market Position

The company advanced its competitive edge through the 4PRO model, which focuses on de-commoditizing the refractory business by offering integrated, value-added solutions. This approach aims to:

  • Enhance price realization
  • Deepen customer integration
  • Improve long-term contract visibility

Structural growth drivers across the steel and cement sectors continue to create opportunities for the refractory industry, particularly for technology-led and sustainability-focused solution providers.

Management Commentary

Parmod Sagar, Chairman, MD & CEO of RHI Magnesita India Ltd., commented: "FY26 reinforced the importance of resilience, agility, and disciplined execution in a dynamic environment. Despite multiple challenges, we have delivered a resilient performance while strengthening our long-term strategic positioning."

Company Overview

RHI Magnesita India Ltd. is the leading manufacturer and supplier of high-grade refractory products, systems and solutions critical for high-temperature processes exceeding 1,200°C in various industries including steel, iron, cement, non-ferrous metals and glass.

Operational Footprint:

  • 6,000+ skilled workforce
  • 8 state-of-the-art manufacturing plants
  • 2 Mines
  • 2 Mechanism Units
  • 3 main offices
  • 35 site offices across the country
  • World-class R&D centre at Bhiwadi

The company serves customers both domestically and internationally.