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RHI Magnesita India (534076) investor relations material
RHI Magnesita India Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly revenue of INR 1,035 crore (₹103,536 lakh) in Q2 FY26, up 8% sequentially and 19% year-over-year, driven by higher volumes and market share gains in steel and cement sectors.
Shipment volume reached 141 kilotons, up 9% quarter-on-quarter and 18% year-over-year, reflecting strong demand and successful strategic initiatives.
Margins remained under pressure due to competitive environment, higher raw material costs, and FX impacts, but cost optimization and automation investments are expected to drive recovery.
Integration of Ashwath Technologies and transfer of ANKRAL and RADEX cement bricks to India completed, expanding group structure and product portfolio.
Safety performance remained strong with zero lost time injuries and enhanced safety management systems.
Financial highlights
Revenue from operations reached ₹103,536 lakh in Q2 FY26, up 8% sequentially and 14% year-over-year; operating EBITDA was ₹11,053 lakh with a margin of 10.7%, up 7% quarter-over-quarter.
Profit after tax stood at ₹4,174.09 lakh, up 9% from Q1 FY26.
Net debt-to-EBITDA ratio at 0.45x, reflecting higher working capital and acquisition outflows.
CapEx for the quarter was ₹3,279 lakh, supporting automation, efficiency, and productivity improvements.
Dalmia subsidiary showed improved performance: EBITDA margin rose from 8.7% to 11.4% quarter-on-quarter, with revenue up from INR 208 crore to INR 264 crore and shipments from 35,000 to 42,000 tons.
Outlook and guidance
Full-year FY26 EBITDA margin expected at 13%-14%, in line with FY25, supported by lower raw material prices, product and recipe optimization, and performance bonuses.
Strong domestic demand in steel and positive cement sector outlook with capacity expansion and GST rationalization anticipated.
Strategic focus on expanding market share, leveraging acquisitions, and reaching 80%-85% utilization with selective add-ons.
Gradual margin improvement anticipated as high-cost alumina inventory is replaced and magnesia cost pressures are mitigated.
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