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RHI Magnesita India Refractories Limited
(RHIM)
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Rating:51Neutral
Price Target:
₹373.00
▼(-4.91% Downside)
Action:Reiterated
Date:09/06/26
The score is primarily held back by inconsistent profitability (including a large FY2026 loss) and volatile free-cash-flow trends, despite low leverage and positive operating/free cash flow. Technicals further pressure the score, as the stock is trading below key moving averages with weak momentum indicators. Valuation contributes only modestly given the negative P/E and a low dividend yield.
Positive Factors
Recurring industrial demand
Replacement-driven consumption creates recurring demand tied to customer production and maintenance cycles. This gives RHIM an embedded position in essential furnace, kiln, and reactor operations, supporting repeat business across steel and other heavy industries over the medium term.
Negative Factors
Severe earnings volatility
The sharp move from profitability to a substantial net loss demonstrates that earnings are not yet durable. Such volatility reduces confidence in near-term profit conversion, weakens retained capital generation, and makes financial performance more sensitive to operating or cost pressures.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring industrial demand
Replacement-driven consumption creates recurring demand tied to customer production and maintenance cycles. This gives RHIM an embedded position in essential furnace, kiln, and reactor operations, supporting repeat business across steel and other heavy industries over the medium term.
Read all positive factors
RHI Magnesita India Refractories Limited (RHIM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹76.68B
Dividend Yield0.67%
Average Volume (3M)27.96K
Price to Earnings (P/E)―
Beta (1Y)1.28
Revenue Growth8.45%
EPS Growth-314.43%
CountryIN
Employees1,592
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)-17.13
Shares Outstanding206,501,420
10 Day Avg. Volume11,419
30 Day Avg. Volume27,962
Financial Highlights & Ratios
PEG Ratio0.06
Price to Book (P/B)1.96
Price to Sales (P/S)1.74
P/FCF Ratio26.62
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)14.15
Revenue Forecast (FY)₹44.55B
RHI Magnesita India Refractories Limited Business Overview & Revenue Model
Company Description
RHI Magnesita India Limited, headquartered in Gurugram, India, and established in 2010, specializes in the production and distribution of advanced refractory materials. Their comprehensive offerings include monolithics, bricks, and ceramic paper, ...
How the Company Makes Money
RHIM primarily makes money by selling refractory products and refractory solutions to industrial customers that operate high-temperature equipment (e.g., steel plants and cement kilns). Revenue is generally generated through: (1) Product sales: su...
RHI Magnesita India Refractories Limited Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 40.74B | 40.20B | 36.74B | 37.81B | 27.26B | 19.99B |
| Gross Profit | 11.78B | 9.97B | 9.07B | 6.16B | 4.99B | 7.10B |
| EBITDA | -529.42M | 4.48B | 5.05B | 2.35B | -2.90B | 3.94B |
| Net Income | -3.54B | -3.83B | 2.03B | -1.00B | -4.66B | 2.69B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 48.61B | 51.76B | 51.16B | 58.81B | 16.74B |
| Cash, Cash Equivalents and Short-Term Investments | 3.91B | 3.91B | 974.80M | 507.92M | 3.23B | 628.10M |
| Total Debt | 0.00 | 4.48B | 3.80B | 4.87B | 15.89B | 647.06M |
| Total Liabilities | -35.60B | 13.00B | 11.77B | 12.70B | 29.00B | 6.46B |
| Stockholders Equity | 35.60B | 35.60B | 39.99B | 38.46B | 28.91B | 10.29B |
Cash Flow | ||||||
| Free Cash Flow | -7.32M | 2.62B | 2.18B | 1.88B | 1.93B | -351.87M |
| Operating Cash Flow | 602.82M | 3.98B | 3.37B | 2.71B | 2.38B | 272.61M |
| Investing Cash Flow | -1.20B | -3.41B | -1.18B | -3.12B | -11.50B | -699.10M |
| Financing Cash Flow | -119.10M | 38.27M | -1.72B | -2.31B | 11.72B | -502.83M |
RHI Magnesita India Refractories Limited Technical Analysis
Negative
392.25
Price Trends
391.08
Negative
391.48
Negative
411.06
Negative
Market Momentum
-7.05
Positive
40.79
Neutral
48.87
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RHIM, the sentiment is Negative. The current price of 392.25 is above the 20-day moving average (MA) of 379.08, above the 50-day MA of 391.08, and below the 200-day MA of 411.06, indicating a bearish trend. The MACD of -7.05 indicates Positive momentum. The RSI at 40.79 is Neutral, neither overbought nor oversold. The STOCH value of 48.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:RHIM.
RHI Magnesita India Refractories Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹357.26B | 282.65 | ― | ― | 94.62% | 103.34% | |
60 Neutral | ₹11.17B | 30.92 | ― | 0.73% | 13.71% | 0.15% | |
56 Neutral | ₹122.69B | 31.01 | ― | 0.38% | 17.48% | 12.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | ₹10.21B | 24.74 | ― | 0.60% | 4.22% | -1.86% | |
51 Neutral | ₹76.68B | -21.70 | ― | 0.67% | 8.45% | -314.43% | |
49 Neutral | ₹12.54B | -34.23 | ― | 0.79% | -3.05% | -110.10% |
* General Sector Average
IN:RHIM
RHI Magnesita India Refractories Limited
371.35
-95.40
-20.44%
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8.23%
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1,662.25
-20.15
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117.30
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23,829.30
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76.37%
RHI Magnesita India Refractories Limited Corporate Events
RHI Magnesita India Enhances Digital Access to AGM and Annual Report
Sep 4, 2026
RHI Magnesita India Refractories Limited, a listed player in the refractory materials sector serving high-temperature process industries, continues to emphasize regulatory compliance and digital engagement with its shareholder base. The company le...
RHI Magnesita India Publishes AGM and Dividend Notice in Mumbai Dailies
Sep 2, 2026
RHI Magnesita India Refractories Limited operates in the refractories industry, supplying high‑performance heat‑resistant materials and solutions to industrial customers, notably in metals and manufacturing sectors. The company focuses...
RHI Magnesita India Cancels Scheduled Investor Meetings in Mumbai
Aug 17, 2026
RHI Magnesita India Refractories Limited has informed stock exchanges that its planned one-on-one and group meetings with analysts and institutional investors in Mumbai, scheduled for 18–20 August 2026, have been cancelled due to unavoidable...
RHI Magnesita India’s Statutory Auditor Plans Resignation, Triggering Audit Transition
Aug 9, 2026
RHI Magnesita India Limited has announced that its statutory auditors, Price Waterhouse Chartered Accountant LLP, have expressed their intention to resign as auditors of both the parent company and its wholly owned material subsidiary, RHI Magnesi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.