RHI Magnesita India Refractories Limited (IN:RHIM)
:RHIM
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RHI Magnesita India Refractories Limited
(RHIM)
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Rating:52Neutral
Price Target:
₹362.00
▼(-20.54% Downside)
Action:Reiterated
Date:06/04/26
The score is held back primarily by volatile fundamentals (including a sharp FY2026 loss) and bearish technicals (below major moving averages with negative MACD). Offsetting factors include improving gross margin, modest leverage, and generally positive operating/free cash flow, while valuation is difficult to assess due to the negative P/E and only a small dividend yield.
Positive Factors
Gross margin recovery
Recovery of gross margin to ~25% in FY2025–FY2026 suggests improved pricing, cost control or better product mix. Sustained higher gross margins increase resilience to revenue swings, support operating profitability and cash generation, and provide room for reinvestment in solutions.
Negative Factors
Earnings volatility
The swing from modest profitability in FY2025 to a sizable loss in FY2026 shows pronounced earnings volatility. This undermines predictability of returns, complicates capital allocation and dividend planning, and indicates operating-leverage or cost shocks that could reappear absent structural fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Gross margin recovery
Recovery of gross margin to ~25% in FY2025–FY2026 suggests improved pricing, cost control or better product mix. Sustained higher gross margins increase resilience to revenue swings, support operating profitability and cash generation, and provide room for reinvestment in solutions.
Read all positive factors
RHI Magnesita India Refractories Limited (RHIM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹77.97B
Dividend Yield0.55%
Average Volume (3M)141.56K
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue Growth9.40%
EPS Growth-289.09%
CountryIN
Employees1,592
SectorBasic Materials
Sector Strength58
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)7.61
Shares Outstanding206,501,420
10 Day Avg. Volume405,884
30 Day Avg. Volume141,564
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)17.17
Revenue Forecast (FY)₹46.62B
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 makes money primarily by selling refractory products and solutions to industrial customers, with the steel industry typically being the largest end market for refractories. Key revenue streams generally include: (1) Product sales: revenue fro...
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 | 39.24B | 40.20B | 36.74B | 37.81B | 27.26B | 19.99B |
| Gross Profit | 13.44B | 9.97B | 9.07B | 6.16B | 4.99B | 7.10B |
| EBITDA | 4.40B | 4.48B | 5.05B | 2.35B | -2.90B | 3.94B |
| Net Income | 1.57B | -3.83B | 2.03B | -1.00B | -4.66B | 2.69B |
Balance Sheet | ||||||
| Total Assets | 53.73B | 48.61B | 51.76B | 51.16B | 58.81B | 16.74B |
| Cash, Cash Equivalents and Short-Term Investments | 855.95M | 3.91B | 974.80M | 507.92M | 3.23B | 628.10M |
| Total Debt | 4.15B | 4.48B | 3.80B | 4.87B | 15.89B | 647.06M |
| Total Liabilities | 13.53B | 13.00B | 11.77B | 12.70B | 29.00B | 6.46B |
| Stockholders Equity | 40.20B | 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
455.60
Price Trends
391.92
Negative
402.44
Negative
431.96
Negative
Market Momentum
-5.82
Positive
47.29
Neutral
47.14
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 455.6 is above the 20-day moving average (MA) of 383.96, above the 50-day MA of 391.92, and above the 200-day MA of 431.96, indicating a bearish trend. The MACD of -5.82 indicates Positive momentum. The RSI at 47.29 is Neutral, neither overbought nor oversold. The STOCH value of 47.14 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | ₹122.77B | 32.08 | ― | 0.63% | 10.25% | 15.87% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ₹12.05B | 24.72 | ― | 0.48% | 6.13% | 29.99% | |
59 Neutral | ₹10.84B | 31.10 | ― | 0.65% | 2.95% | -25.58% | |
57 Neutral | ₹267.17B | 262.35 | ― | ― | 95.66% | 64.64% | |
52 Neutral | ₹77.97B | -20.32 | ― | 0.55% | 9.40% | -289.09% | |
51 Neutral | ₹14.53B | -91.09 | ― | ― | -10.29% | -103.54% |
* Basic Materials Sector Average
IN:RHIM
RHI Magnesita India Refractories Limited
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RHI Magnesita India Refractories Limited Corporate Events
RHI Magnesita India Board Clears FY26 Results, Recommends Final Dividend
May 29, 2026
RHI Magnesita India Limited’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with the statutory auditors issuing unmodified opinions, underscoring confidence in the ...
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.