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RHI Magnesita India Ltd

Q3 FY25Industrial Products

RHI Magnesita India Q3 FY25 earnings call: Revenue & Margins

Q3 FY25 earnings call: what management guided on revenue, margins and order book.

Price₹375
Market cap₹8.4K Cr
P/E76.7
Updated23 Aug 2026
Read4 min read

The short version

Future Growth Expectations of RHI Magnesita India Limited: - Targeting 8%-9% volume growth annually, aiming to outpace market growth (~7%). Company projects sustainable long-term volume growth of 8-9% annually, outpacing market growth (~7%).

From RHI Magnesita India Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Future Growth Expectations of RHI Magnesita India Limited: - Targeting 8%-9% volume growth annually, aiming to outpace market growth (~7%). - Iron-making business expected to grow significantly, with 1.5x growth from last year to current year (now 12% of revenues). - Expansion in refractory management (TRM) contracts, aiming to reach ~40% revenue contribution soon. - Growth driven by increased demand in steel and cement sectors, supported by infrastructure and industrial expansion in India. - Anticipated sustainable revenue growth from strategic market expansion and new product introductions. - Focus on increasing market share with a goal of 40% within four years. - Operational efficiencies and cost optimization to support profitable growth.

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Profitability & Margins

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Capital Expenditure Plans

  • The company is continuing to work on capacity utilization and inventory buildup, especially for new steel capacities like Tata and JSW, with ongoing supplies before and after commissioning.
  • There is mention of commissioning of new capacities by Tata and JSW, with inventory being built up and replenished regularly.
  • Discussions indicate plans to add 2-3 more TRM (Total Refractory Management) contracts in the coming weeks and months, which require inventory investments.
  • The company is focused on plant modernization and operational efficiencies to improve profitability and ROE.

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Top-ranked in Industrial Products

Ranked on what management guided this quarter

Guidance-ranked
Rev 1Mar 1
2Shera Energy
Rev 1Mar 1
3
Rev 1Mar 1
4
Rev 1Mar 2
5
Rev 1Mar 2
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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

  • In Q3, RHI Magnesita India delivered one of the largest iron-making projects, indicating strong project execution capability.
  • The company secured a significant 1,200 TPD DRI order in mid-January—the largest DRI plant order in India—highlighting a robust pipeline in iron-making projects.
  • Another notable order in pellet plants, started last year, is under execution with more pellet projects expected to commence in April.
  • Several other iron-making and pellet projects are in the pipeline, signaling ongoing strong demand and growth potential in these segments.
  • The company anticipates recurring large projects rather than one-time orders, underpinning a healthy and sustained order book.

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RHI Magnesita India Ltd — Quarterly revenue & net profit

Revenue Net profit
Sep 2024Q2 FY25
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26

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.

Full financials →

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Frequently Asked Questions

What were RHI Magnesita India Ltd Q3 FY25 results?

Future Growth Expectations of RHI Magnesita India Limited: - Targeting 8%-9% volume growth annually, aiming to outpace market growth (~7%). Company projects sustainable long-term volume growth of 8-9% annually, outpacing market growth (~7%).

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?

The company is continuing to work on capacity utilization and inventory buildup, especially for new steel capacities like Tata and JSW, with ongoing supplies before and after commissioning.

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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.