RHI Magnesita India Ltd (BOM:534076)

Q3 2026 RHI Magnesita India Ltd Earnings Call Transcript

Feb 15, 2026 / 05:30 AM GMT

Release Date Price: ₹462.55 (+5.82%)

Transcript

Key Points

Positve

RHI Magnesita India Ltd (BOM:534076) achieved its highest ever quarterly revenue of INR 1,092 crores, reflecting a sequential growth of approximately 5.5% over the previous quarter.
The company maintained a strong market position and achieved record revenue despite macroeconomic headwinds, demonstrating resilience and strong business fundamentals.
EBITDA margins improved to 13.7% compared to 10.7% in the previous quarter, driven by improved product mix and pricing discipline.
The company recorded its highest ever operating cash flow at INR 289 crores, representing a 627% quarter-on-quarter increase, driven by strong EBITDA growth and disciplined working capital management.
RHI Magnesita India Ltd (BOM:534076) has been recognized by the World Refractory Association for exemplary safety performance across nine refractory service locations.

Negative

The refractory industry continues to face structural pressure due to domestic overcapacity and oversupply of imported commoditized products, intensifying market challenges.
Margins remain under pressure with capacity utilization between 55% to 60%, despite strong shipment volumes.
The company faces challenges from Chinese steel dumping, although tariffs and production-linked incentives have been introduced to curb low-price imports.
Additional employee costs arising from the new wage code implementation and higher costs due to depreciation pressured margins.
The company is cautiously optimistic about the future due to ongoing industry challenges and awaits targeted interventions such as duty relief on key raw materials to enhance cost competitiveness.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RHIM.NS - RHI Magnesita India Ltd
Q3 2026 RHI Magnesita India Ltd Earnings Call
Feb 16, 2026 / 05:30AM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good day and welcome to RHI Magnacita India Limited Q3 FY26 conference call hosted by BMK Securities. As a reminder, all participants' line will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded.

I now hand the conference over to Mr. Rajesh Majumdar from BMK Securities.

Thank you and over to you, sir.

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Unidentified_2 [2]
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