Industrial Goods company RHI Magnesita announced Q3FY24 results: The company recorded a remarkable 43% year-on-year growth in revenue compared to the same quarter of the previous financial year. The revenue for Q3FY24 amounted to Rs 922.9 crore, a substantial increase from Rs 644.8 crore reported during Q3FY23. However, the Profit Before Tax for the period stood at Rs 53.9 crore, showing a decrease from Rs 79.2 crore reported during Q3FY23. Commenting on the results, Parmod Sagar, MD & CEO of RHI Magnesita India, remarked, "The quarter showcased sustained year-on-year growth in the top line, driven by robust shipments, signaling a positive demand outlook. The recent acquisitions have bolstered our organic volume growth. While there was an improvement in material costs, increased investment in a skilled workforce and other expenses put pressure on EBITDA margins. We remain focused on strategizing to enhance operational efficiencies and capitalize on synergies from all recent acquisitions." Result PDF
Industrial Goods company RHI Magnesita India announced Q1FY24 results: The company registered 54% growth in revenue compared to Q1FY23. The Q1FY24 revenue stood at Rs 928 crore as compared to Rs 602 crore during Q1FY23. Adjusted EBITDA stood at Rs 142.5 crore during Q1FY24 as against Rs 119.9 crore during Q1FY23, registering a 19% growth. This healthy growth in revenue and profitability is owing to organic growth, as well as the synergies from the recent acquisitions. Commenting on the results, Parmod Sagar, MD & CEO, RHI Magnesita India said, “We have been able to successfully integrate the two newly acquired businesses and realise the synergies. The M&As; have contributed to 33% of the consolidated revenue during Q1FY24, marking an 18% growth QoQ. The M&A; EBITDA margin improved by 2.3% to reach 13.3% in Q1FY24, which is a testament to the realization of synergies and the consolidation of capabilities of RHI Magnesita India. This successful realization of significant cost and revenue synergies was evident in various aspects such as recipe and raw material harmonization, product transfers, and secondary raw material usage. Overall, the industry is set to experience robust growth driven by sectors like steel, cement, and glass, buoyed by the Government's support in the form of budget and policies. We are strategically combining organic and inorganic growth strategies to meet the rising demand.” Result PDF
Industrial Goods company RHI Magnesita India announced Q3FY23 results: Q3FY23: Q3FY23 income stood at Rs 649 crore, as compared to Rs 547 crore during Q3FY22, registering a 19% growth in income. The EBITDA stood at Rs 97 crore during the period as against Rs 109 crore against the same period last year, impacting EBITDA margins by -5.1% due to higher cost of trading goods and foreign exchange fluctuations. 9MFY23: The company registered a 32% growth in income during the first 9MFY23 as compared to the 9 months of the previous financial year. The 9MFY23 income stood at Rs 1,860 crores, as compared to Rs 1,413 crores during the 9MFY22. The EBITDA stood at Rs 321 crores during the period as against Rs 254 crores during 9MFY22, impacting EBITDA margins by -0.7% due to higher cost of trading goods and foreign exchange fluctuations. Commenting on the results, Parmod Sagar — MD & CEO of RHI Magnesita India said, “The demand situation continued to remain positive through the nine months of the financial year. We have been able to respond well to this with our efficient production and supply capabilities, ensuring that we maintain our growth trajectory. However, there has been pressure on the margins due to foreign exchange fluctuations and a further increase in the cost of the traded goods arising out of the energy cost hikes in Europe as a fall out of the war.” Result PDF
RHI Magnesita India declares Q4FY22 result: RHI Magnesita India reports 45% rise in revenue for FY 2022 Merger benefits and higher demand propels growth The company ended the FY 2021-22 with a revenue of Rs. 2005 crores, as compared to Rs 1383 crores for the FY 2020-21. Net profit stood at Rs 269 crores against Rs 137 crores in the previous financial year. The company’s total income increased by 8% to Rs.592 crores during the period ended March 31, 2022, as compared to Rs. 547 crores during the period ended December 31, 2021. The net profit stood at Rs.100 crores for the quarter as against net profit of Rs. 76 crores for the period ended December 31, 2021. The net sales for the quarter ending March 31, 2022, stood at Rs 590 crores, as against Rs.407 crores in March 2021. Quarterly net profit of the company increased to Rs.100 crores from Rs. 43 crores in the same quarter in the previous year. Commenting on the results, Parmod Sagar – MD & CEO of RHI Magnesita India said, “The strong results of for the year stands testimony to our commitment towards driving value to our stakeholders through the amalgamation of our three legal entities. We have been able to operate strongly as one integrated entity in the market. The demand from the user industries like steel was robust through the most part of the year. This we could capitalize to lead to volume growth. Also, we have been able to partly pass on the increased freight cost to the customer leading to more genuine price realization.” Result PDF