RHI Magnestia India Ltd, manufactures and markets specialised refractory goods for the steel production in India and across the world. It dominates the Indian market for specific refractories and enjoys a large worldwide clientele for its high-caliber goods.
Financial Results – Management Commentary
“The company registered 32% growth in income compared to the nine months of the previous financial year. The 9 month financial year 2022, ’23 income stood at INR1,860 crores. I repeat, 1-8-6-0 crores as compared to INR1,413 crores during the 9 month financial year 2021-2022. The PBT stood at rupees INR287 crores during this period as against two INR227crores during 9 months financial year ’21-’22 impacting PBT margin by minus 0.6% due to higher-cost of trading goods and foreign exchange fluctuations.
In fiscal 2023, the cement production is expected to grow by double-digit. This will increase the consumption share across the cement industry significantly. Crude steel production is a better to grow by 4% and aluminum production by 1.5% to 2% in fiscal 2023. Thus the increased production of end-use industry of refractoriness will positively impact the demand in fiscal 2023. Refractory industry demand is expected to reach 1.6 million tonne in fiscal 2023, growing by 6% year-on year basis.“
Parmod Sagar, Chief Executive Officer & Managing Director