RHI Magnesita India Ltd Share Price – NSE  /  BSE

Refractories, Small Cap

Revenue from operations increased 7.83% to Rs 943.29 crore in Q4 FY24 from Rs 874.78 crore in Q4 FY23.

Profit before exceptional items and tax stood at Rs 94.75 crore in the fourth quarter as against loss before exceptional items of Rs 22.56 crore in Q4 FY24. Exceptional items tumbled 50.69% to Rs 325.77 crore during the quarter.

Total expenses fell 5.65% YoY to Rs 852.72 crore in Q4 FY23. Cost of raw materials and components consumed was at Rs 321.14 crore (down 13.56% YoY) while employee benefits expense stood at Rs 93.32 crore (up 9.12% YoY) during the period under review.

Adjusted EBITDA climbed 37.78% to Rs 161.93 crore in Q4 FY24 as compared to Rs 117.52 crore in Q4 FY23. Adjusted EBITDA margin expanded to 17.2% in the fourth quarter as compared to 13.4% in the corresponding period last year.

On a full year basis, the company reported a net loss to Rs 100.10 crore in FY24 as compared with net loss of Rs 465.65 crore in FY23. Revenue from operations jumped 38.69% YoY to Rs 3,781.10 crore in FY24.

Meanwhile, the company's board has declared a final dividend of Rs 2.50 per equity share for FY24.

Parmod Sagar – MD & CEO of RHI Magnesita India said, “Our fourth quarter results underlined again the attractive growth and resilient results of our business. We have excelled by strategically enhancing our operational efficiencies, driving remarkable and sustained growth. The seamless integration of recent acquisitions has unlocked significant synergies, reflected in the impressive rise in profitability. Our EBITDA and revenue saw substantial year-on-year growth of 49% and 39% respectively. Our rigorous cost optimization initiatives have led to outstanding year-on-year margin improvements this quarter. As we expand our strong presence in iron-making, pellet, and DRI, we are poised to continue leveraging our extensive market reach, diverse product portfolio, and exceptional expertise in Total Refractory Management and Services.

RHI Magnesita India is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. The company serves customers in India and more than 75 countries.

The scrip rallies 6.54% to currently trade at Rs 707.80 on the BSE.

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RHI Magnesita India announced that the Board of Directors of the Company at its meeting held on 29 May 2024, inter alia, have recommended the final dividend of Rs 2.5 per equity Share (i.e. 250%) , subject to the approval of the shareholders.

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Net Loss of RHI Magnesita India reported to Rs 257.90 crore in the quarter ended March 2024 as against net loss of Rs 678.91 crore during the previous quarter ended March 2023. Sales rose 7.83% to Rs 943.29 crore in the quarter ended March 2024 as against Rs 874.78 crore during the previous quarter ended March 2023.

For the full year,net loss reported to Rs 100.45 crore in the year ended March 2024 as against net loss of Rs 466.11 crore during the previous year ended March 2023. Sales rose 38.69% to Rs 3781.10 crore in the year ended March 2024 as against Rs 2726.27 crore during the previous year ended March 2023.

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RHI Magnesita India will hold a meeting of the Board of Directors of the Company on 29 May 2024

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