RHI Magnesita India FY26 Revenue Surpasses ₹4,000 Crore, Net Debt Turns Negative
RHI Magnesita India reported record FY26 consolidated revenue of ₹4,020 Crore, up 9% YoY, with shipment volumes at 523 KT. Adjusted EBITDA was ₹477 Crore and Adjusted PAT stood at ₹180 Crore. The company achieved a negative Net Debt/EBITDA of -0.1x and operating cash flows of ₹409 Crore.
The record financial results, including revenue growth and improved debt metrics, are significant positive developments for the company and its stakeholders.
The company reported record revenue, positive growth in shipments, strong operating cash flows, and achieved a negative net debt to EBITDA ratio, indicating a strong financial performance.
RHI Magnesita India Limited has announced its audited consolidated financial results for the financial year ended March 31, 2026 (FY2026). The company reported a record revenue from operations of ₹4,020 Crore, marking a 9% year-on-year increase. Shipment volumes also saw a rise of 5% year-on-year, reaching 523 kilotonnes.
Key financial highlights for FY26 include Adjusted EBITDA of ₹477 Crore and Adjusted Profit After Tax (PAT) of ₹180 Crore. Notably, the company achieved a negative Net Debt to EBITDA ratio of -0.1x, indicating a strong financial position. Operating cash flows were robust at ₹409 Crore.
Parmod Sagar, Chairman, MD & CEO of RHI Magnesita India Ltd., commented on the performance, highlighting the company's resilience, agility, and disciplined execution in a dynamic environment. He noted that despite pricing pressures, excess industry capacity, inflationary trends, intense competition, and elevated energy and freight costs due to geopolitical developments, the company delivered a resilient performance and strengthened its long-term strategic positioning. Sagar emphasized that structural growth drivers in the steel and cement sectors continue to create opportunities, particularly for technology-led and sustainability-focused providers. The company advanced its competitive edge by de-commoditizing its refractory business through the 4PRO model, offering integrated, value-added solutions to enhance price realization, deepen customer integration, and improve long-term contract visibility.
The financial figures exclude the one-time exceptional impact of goodwill impairment, recognized due to the geopolitical situation and market over-capacity, and employee costs related to the change in the New Wage Code.
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