RHI MAGNESITA INDIA LIMITED reported audited consolidated financial results for the financial year ended March 31, 2026, posting record revenue from operations of Rs 4,020 crore and record operating cash flows of Rs 409 crore. The refractory manufacturer and supplier achieved this performance during a year shaped by pricing pressure, excess industry capacity and geopolitical headwinds that elevated energy and freight costs.
Revenue from operations grew 9% year-on-year to Rs 4,020 crore, supported by shipment volumes of 523 kilotonnes, a 5% increase over the prior year.
Adjusted EBITDA for FY26 stood at Rs 477 crore, and adjusted PAT was Rs 180 crore. These figures exclude one-time exceptional items, including goodwill impairment recognised due to geopolitical conditions and market over-capacity, and employee costs from the change in the new wage code. Net debt-to-EBITDA turned negative at -0.1x during the year.
Parmod Sagar, Chairman, MD and CEO, said the company delivered a resilient performance in FY26 despite pricing pressures, excess capacity, inflation and geopolitical developments that raised costs. He noted that structural growth drivers in steel and cement continue to create opportunities for the refractory industry, particularly for technology-led solution providers.
Sagar added that the company strengthened its competitive position through the 4PRO model, which integrates value-added refractory solutions to improve price realisation, deepen customer integration and enhance long-term contract visibility. RHI Magnesita India operates eight manufacturing plants, two mines and a research and development centre, serving customers in steel, cement, non-ferrous metals and glass industries.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.