RHI Magnesita India Ltd
RHI Magnesita India Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Targeting 80%-85% capacity utilization in the next 2 years without major new plant expansions; only minor additions to specific product lines planned. The company aims to achieve 80-85% capacity utilization in the next 2 years without major new plant expansions, focusing on add-on equipment upgrades.
From RHI Magnesita India Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Targeting 80%-85% capacity utilization in the next 2 years without major new plant expansions; only minor additions to specific product lines planned.
- Expecting gradual demand growth post-monsoon in steel and cement sectors, with market share gains in flow control segment since July.
- Dalmia plant volume grew 26% quarter-on-quarter, with margins improving from 8.7% to 11.4%; further growth expected with product transfers to this plant in next 6 months.
- Flow control, about 28% of revenue, shows margin stability (21%-23%) and market share gains (8%-10% expected in second half FY ’26).
- Export contribution stable around 10% of total revenue, with plans for gradual growth through semi-commercial trials internationally.
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Profitability & Margins
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Capital Expenditure Plans
- Capex budget for current year is INR 150 crores; INR 60 crores spent in H1, balance expected in H2; some spillover to next year.
- Next year's capex expected around INR 90-100 crores.
- Focus is on refurbishments and adding press, mixers, dryers, kilns rather than new plant expansions.
- New machines (e.g., SACMI press with 14 months lead time) will improve productivity, reduce labor cost, and rejection levels.
- Investments have strict ROIC criteria: minimum 3-year payback, double-digit returns aimed.
- No major capacity expansion planned; target capacity utilization of 80-85% in next 2 years.
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- There is mention of industrial orders, which are naturally higher margin percentage orders, expected to come in the upcoming quarters.
- The company expects better product mix and performance bonuses linked to gained market share, particularly in ladle business.
- The flow control business, contributing around 28% of revenue, is expected to see a substantial uptick next year, with about 5%-6% increase in revenue contribution for standalone.
- Market share gains in Flow Control from July onwards are noted, with 8%-10% market share gain anticipated in the second half of the year.
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RHI Magnesita India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹1.1K Cr, net profit ₹62 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What RHI Magnesita India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were RHI Magnesita India Ltd Q2 FY26 results?
Targeting 80%-85% capacity utilization in the next 2 years without major new plant expansions; only minor additions to specific product lines planned. The company aims to achieve 80-85% capacity utilization in the next 2 years without major new plant expansions, focusing on add-on equipment upgrades.
What is RHI Magnesita India Ltd share price analysis?
RHI Magnesita India Ltd currently shows a neutral. The stock trades at a P/E of 76.7 with a market cap of ₹8,446 Cr. Investors should review the full earnings analysis for detailed insights.
Is RHI Magnesita India Ltd planning capital expenditure?
Capex budget for current year is INR 150 crores; INR 60 crores spent in H1, balance expected in H2; some spillover to next year.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.