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India
As of 18 Sept 2026, 03:30 pm
For the fiscal year 2025-26, RHI Magnesita India Ltd. reported a record revenue from operations of ₹4,020 crore, marking a 9% increase year-on-year. The company achieved an adjusted EBITDA of ₹477 crore, representing a 12% margin, and an adjusted profit after tax of ₹180 crore. Operating cash flow was ₹409 crore, and the company ended the period with a net cash position, indicated by a net debt-to-EBITDA ratio of -0.1x. However, a non-cash goodwill impairment charge of ₹556 crore related to Dalmia assets resulted in a reported loss after tax of ₹383 crore for the same period.
RHI Magnesita India Ltd. has set sustainability targets to be achieved by December 31, 2026. These include a 2% reduction in CO₂ emissions per tonne, a 1% annual reduction in energy consumption, and an increase in the use of secondary raw materials to 20%.
As of September 17, 2026, the daily technical trend for RHI Magnesita India Ltd. is indicated as bearish, with the Supertrend indicator at 392.13 and the 20-day Exponential Moving Average (EMA) at 373.56. The weekly trend is also showing as bearish, with the Supertrend at 455.72 and the 20-day EMA at 387.81. The stock's closing price on this date was ₹365.95.
Investors can monitor RHI Magnesita India Ltd.'s upcoming events, including a physical investor roadshow scheduled for September 16, 2026, in Mumbai. The company also held its 16th Annual General Meeting virtually on September 29, 2026, with remote e-voting available from September 26 to September 28, 2026. A cut-off date of September 22, 2026, was set for determining shareholder eligibility for voting.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
Downward price movement of 4.60 standard deviations recorded on 2026-09-15.
Unusual market activity that may warrant review of the underlying price, volume, or news context.
Latest complete financial results for Q4 FY2026 and comparative quarterly trends.
| Metric | Q4 FY2025-26(Latest) | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 | Q4 FY2024-25 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹932.26 crore | PEAK₹1,092.01 crore | ₹1,035.36 crore | ₹960.32 crore | ₹917.97 crore |
| Profit Before Tax | -₹503.03 crore | PEAK₹83.55 crore | ₹51.78 crore | ₹47.93 crore | ₹37.83 crore |
| Other Expenses | PEAK₹200.77 crore | ₹188.21 crore | ₹186.48 crore | ₹170.74 crore | ₹173.20 crore |
| Tax Expense | ₹15.08 crore | PEAK₹21.99 crore | ₹13.43 crore | ₹12.66 crore | ₹1.65 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹-25.09 per share | PEAK₹2.99 per share | ₹1.85 per share | ₹1.71 per share | ₹1.75 per share |
| Diluted Earnings Loss Per Share From Continuing And Discontinued Operations | ₹-25.09 per share | PEAK₹2.99 per share | ₹1.85 per share | ₹1.71 per share | ₹1.75 per share |
The company recorded a tax expense of ₹15 crore in Q4 despite the pre-tax loss of ₹503 crore. In the previous quarter, tax expense was ₹22 crore on a pre-tax profit of ₹84 crore. A tax charge on a large loss is unusual and may indicate deferred tax adjustments or non-deductible expenses.
Basic and diluted earnings per share were identical in every quarter, including the loss-making fourth quarter (both ₹-25.09 per share). This indicates that no dilutive equity instruments were outstanding during the reported periods.
The quarter’s financial performance is dominated by a pre-tax loss of ₹503 crore, driven by an unidentified expense of approximately ₹722 crore that is not explained by the reported cost items. Combined with an unusual tax charge on a loss and essentially flat year-over-year revenue, the results obscure the underlying business trends that were evident in the earlier part of the year.
Exchange disclosures and regulatory announcements for RHI MAGNESITA INDIA.
RHI MAGNESITA INDIA LTD has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates
RHI Magnesita India Ltd. informed stock exchanges of a scheduled physical investor roadshow in Mumbai on 16 September 2026 from 9:30 a.m. to 6:30 p.m., with the company's management participating and the investor presentation uploaded to its website, noting no unpublished price-sensitive information will be shared.
RHI Magnesita India Limited announced the publication of its 16th Annual General Meeting notice in Business Standard and Pratahkal newspapers on September 5, 2026, following an earlier intimation on September 1, 2026. The meeting is scheduled to be held virtually via Video Conference on September 29, 2026, at 11:00 AM IST, with remote e-voting available from September 26 to September 28, 2026. A cut-off date of September 22, 2026, has been set for determining shareholder eligibility for voting.
RHI Magnesita India Ltd. submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 (April 1, 2025 to March 31, 2026) to stock exchanges on September 4, 2026. The report details sustainability targets to be achieved by December 31, 2026, including a 2% reduction in CO₂ emissions per tonne, a 1% annual reduction in energy consumption, and increasing secondary raw material use to 20%. The company also entered a joint venture with Khemka Refractories Private Limited for a greenfield refractory recycling facility in Odisha. Pankaj Malhan replaced Parmod Sagar as Managing Director & CEO, effective July 1, 2026.
RHI Magnesita India Ltd. reported record revenue from operations of ₹4,020 crore for FY 2025-26, a 9% year-on-year increase, with an adjusted EBITDA of ₹477 crore (12% margin) and adjusted profit after tax of ₹180 crore. The company recorded an exceptional non-cash goodwill impairment charge of ₹556 crore related to Dalmia assets, resulting in a reported loss after tax of ₹383 crore. Operating cash flow was ₹409 crore, and the company achieved a net cash position with a net debt-to-EBITDA ratio of -0.1x. The 16th Annual General Meeting is scheduled for 29 September 2026 via video conferencing.
RHI Magnesita India Ltd. reported record revenue from operations of INR 4,020 crore for FY 2025-26, a 9% year-on-year increase, and an adjusted profit after tax of INR 180 crore. The company recorded an exceptional non-cash goodwill impairment charge of INR 556 crore related to Dalmia assets, resulting in a reported loss after tax of INR 244 crore. The 16th Annual General Meeting is scheduled for 29 September 2026 via video conferencing.
RHI Magnesita India Limited announced its Annual General Meeting scheduled for September 29, 2026, to be conducted via video conference. The meeting agenda includes adopting audited standalone and consolidated financial statements for the year ended March 31, 2026, declaring a final dividend, and appointing Pankaj Malhan as Managing Director and CEO with a tenure from July 1, 2026, to June 30, 2031. Additionally, the company will replace directors Parmod Sagar and Gustavo Lucio Goncalves Franco by rotation, fill a casual vacancy for statutory auditors, and ratify remuneration for cost auditors M/s. K G Goyal & Associates for the fiscal year ending March 31, 2027.
RHI Magnesita India Ltd. will hold its 16th Annual General Meeting on 29 September 2026 at 11:00 AM via video conferencing. The record date for the final dividend is 14 September 2026, with e-voting from 26 to 28 September 2026 and dividend payment on or before 5 October 2026. The company sent letters to shareholders without registered email addresses providing a weblink and QR code to access the Annual Report for FY 2025-26.
Recent market and company developments associated with RHI MAGNESITA INDIA.
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Revenue grew just 6%, but operating profit rose 35% as the refractory maker recovered higher input costs and lifted its EBITDA margin to 13.6%.
Comprehensive Section Breakdown for RHI MAGNESITA INDIA
Strategic Vision: Manufactures and supplies refractory products, systems, and services.
• Provider of specialized heat-resistant materials for high-temperature industrial processes.
• Offers integrated services including design, installation, and maintenance of refractory systems.
In the fourth quarter of its fiscal year, RHI Magnesita India reported a pre-tax loss of ₹503 crore, a sharp reversal from the steadily increasing profits of the first three quarters. Revenue declined 14.6% from the previous quarter, but that drop does not explain the loss’s magnitude. The reported operating costs would have produced a profit; instead, an unidentified expense of approximately ₹722 crore drove the quarter’s result. The company also recorded a tax expense despite the loss, and basic and diluted earnings per share remained identical throughout the year.
Revenue from operations rose sequentially through the first three quarters—from ₹960 crore in Q1 to ₹1,035 crore in Q2 and ₹1,092 crore in Q3—then fell sharply to ₹932 crore in Q4. The Q4 figure was only 1.6% higher than the same quarter a year earlier, essentially flat on a year-over-year basis.
Profit before tax (PBT) followed a similar but steeper pattern: it grew from ₹48 crore in Q1 to ₹52 crore in Q2 and ₹84 crore in Q3, then collapsed to a loss of ₹503 crore in Q4. The swing from Q3 alone was ₹587 crore. The revenue decline of ₹160 crore was far too small to cause such a dramatic profitability reversal, pointing to a significant cost or charge elsewhere.
For Q4, total income (revenue of ₹932 crore plus other income of ₹25 crore) was ₹957 crore. The sum of the reported cost items—cost of materials consumed (₹385 crore), employee benefits (₹102 crore), depreciation (₹51 crore), and other expenses (₹201 crore)—was ₹738 crore. These costs would imply a profit of ₹219 crore. The actual pre-tax loss of ₹503 crore indicates an additional expense of approximately ₹722 crore that is not accounted for by these cost lines.
This gap is the dominant feature of the quarter. The vast majority of the Q4 loss originates from this unidentified charge, not from changes in core operating revenue or the routinely reported cost categories.
Category: Manufacturing
The company produces shaped refractories like bricks and blocks, and unshaped refractories such as mixes and mortars.
Category: B2B Services
RHIM India provides lining design, installation, maintenance, and monitoring services to optimize furnace performance and refractory service life.
Core Thesis: The company provides essential heat-resistant materials and related services to high-temperature manufacturing industries.
• Product Manufacturing: Produces a range of shaped and unshaped refractory products including magnesia and alumina-based bricks, and flow control products. • Service Provision: Offers industrial application services such as lining design, installation, maintenance, and monitoring to clients. • Market Focus: Primarily serves the steel, cement, non-ferrous metals, and glass industries with specialized refractory solutions.