Announced Thu, 25 Jun · 14:10 IST
RHI Magnesita forms JV with Khemka for refractory recycling in Odisha
RHIM · price
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Price reaction · full curve 14 horizons · vs prior close
-1.7%1-day move
₹378.65
prior close
₹379.50
base price
In-mkt
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AI summary
RHI Magnesita India (RHIM) board approved a JV with Khemka Refractories for a greenfield refractory recycling facility in Odisha. RHIM will hold 51 percent, Khemka 49 percent. Initially a wholly owned subsidiary, then 49 percent shares will be allotted to Khemka. RHIM invests Rs 10,000 in equity shares of Re 1 each. No cash exchanged between parties. Aims to boost circular economy. RHIM FY26 turnover Rs 4,01,995 lakhs; Khemka Rs 48,726 lakhs.
Likely market impact
New recycling JV supports sustainability and supply chain resilience. Initial financial outlay is small; long-term strategic upside from circular economy play.