RHI Magnesita shares zoom higher with strong top line and bottom line growth in Q3!
RHI Magnesita had a strong Q3 show where revenue grew 40%, and Net profit grew 73%.
This mid-size market leader for special refractories in India, RHI Magnesita has rallied more than 16% in the last 5-days. This action is due to anticipation of a strong Q3 show, where the company meet the expectation, revenue grew 40%, and Net profit grew 73%.
Q3 earnings report:
On a consolidated basis, Rhi Magnesita Revenue increased 40% to Rs 543 crore on a YoY. The Group is primarily engaged in the business of manufacturing refractories and monolithic. There are no individual reportable segments.
EBITDA grew 61% to Rs 106 crore on YoY, as a result margins expanded 260 bps on YoY stood at 19.56%. This is due to decrease in employee benefit expenses as a % to sales compare to previous year same quarter. Net Profit grew 73% to Rs 76 crore on YoY, as a result, margins expanded 250 bps on YoY stood at 14%.
RHI Magnestia India earlier known as Orient Refractories Limited (ORL) offers a wide range of Refractory and Monolithic products for the iron and steel industry and enjoy large domestic and international clientele. An in-house R&D facility supports the division’s product development initiatives. This makes the company preferred choice for quality products. The company provided a wide range of special refractories and monolithics to meet the needs of the iron and steel industry. All the products are custom made to suit the casting conditions and grade of steel being cast and are a result of an intensive research and development effort by the Company. The company has two manufacturing facilities located in Bhiwadi, Rajasthan and Tangi, Odisha for its manufacturing operations
At 3.30 PM, Rhi Magnesita closed at Rs 485.80, marginally down by 0.051% for the day.
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