RHI MAGNESITA INDIA LTD has informed the Exchange about Transcript
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RHI Magnesita India reported FY'25 revenue of Rs. 3,675 crore, down 2.8% YoY, with EBITDA margin softening to 13.7% from 14.7% in FY'24 due to higher raw material costs (alumina rose from Rs. 65,000 to Rs. 95,000/ton) and aggressive competition. Q4 FY'25 revenue declined 9.7% QoQ to Rs. 919 crore with EBITDA margin at 10.2%, hit by seasonal cement slowdown and end of one-time projects. Profit recovery was notable with FY'25 PAT at Rs. 203 crore vs. a loss in FY'24, and net debt was cut sharply by 53% YoY to a net debt/EBITDA of 0.3x. Management guided margin improvement from Q2 FY'26 onwards, citing falling alumina costs (now at Rs. 77,000/ton), Rs. 11-12 crore price increases effective July-August, recipe optimization, and 8-10% volume growth ambitions. A Rs. 150 crore CAPEX plan for FY'26 (65-70% in DOCL plant) targets productivity gains and iron making expansion, while the company aspires to sustainable 14-15% EBITDA margins.
Near-term stock may remain pressured given the YoY revenue decline and weak Q4 margins, but the strong debt reduction, PAT turnaround, and clear visibility on margin recovery catalysts from Q2 FY'26 are positive signals for shareholders. Structural growth in iron making, technology transfers, and new product launches support a constructive medium-term outlook despite intense domestic competition.