RHI Magnesita India Limited stands as a dominant force in the refractory industry, offering high-performance refractory products, systems, and solutions that are integral to industrial operations involving extremely high temperatures, often exceeding 1,200°C. These materials play a critical role in sectors like steel, cement, non-ferrous metals, and glass, ensuring the longevity and operational efficiency of equipment in harsh conditions. The company operates nine strategically located production facilities across India, which strengthens its manufacturing capabilities and market reach. Additionally, RHI Magnesita India has a world-class research and development (R&D) center in Bhiwadi, Rajasthan, where continuous innovation is at the forefront, aimed at enhancing product quality and introducing advanced solutions to meet evolving industry demands.
With a customer base of over 1,500 spanning not only India but also regions such as West Asia and Africa, RHI Magnesita has a significant global presence. Its diverse product portfolio includes a wide range of refractory materials, all designed to withstand the rigors of high-temperature environments. Beyond product excellence, the company places a strong emphasis on sustainability, constantly working to improve its processes and products to reduce environmental impact while boosting operational efficiency. RHI Magnesita India is deeply committed to staying at the forefront of technological advancements, ensuring its leadership in the refractory industry while continuing to meet the evolving needs of its extensive and varied customer base.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 55.47% | 56.07% | 56.07% | 56.07% | 56.07% |
| FIIs + | 3.79% | 3.68% | 3.67% | 3.78% | 4.74% |
| DIIs + | 14.08% | 13.59% | 13.76% | 13.29% | 12.80% |
| Public + | 26.67% | 26.65% | 26.51% | 26.86% | 26.40% |
| No. of Shareholders | 65,184 | 73,698 | 71,705 | 74,075 | 69,476 |
The shareholding pattern of the company from June 2023 to June 2024 reveals significant insights into the distribution of ownership among different investor categories. Throughout this period, the promoters consistently held a dominant position, starting with a 55.47% stake in June 2023 and slightly increasing to 56.07% by September 2023. This level remained unchanged through June 2024, highlighting the strong confidence and control exercised by the promoters over the company. Meanwhile, Foreign Institutional Investors (FIIs) showed a positive trend, beginning with a 3.79% share in June 2023, experiencing a minor dip to 3.67% in December 2023, but then climbing to 4.74% by June 2024, indicating increasing interest and confidence from international investors. On the other hand, Domestic Institutional Investors (DIIs) saw a gradual decline in their holdings, dropping from 14.08% in June 2023 to 12.80% in June 2024, suggesting a shift in the investment strategy of domestic institutions. The public shareholding remained relatively stable, fluctuating within a narrow range, from 26.51% to 26.86% during the period, reflecting consistent participation from retail investors. Interestingly, the number of shareholders peaked at 74,075 in March 2024 before falling to 69,476 in June 2024, indicating a slight reduction in the overall investor base. Overall, the shareholding data highlights the sustained dominance of promoters, growing FII involvement, a marginal decline in DII interest, and a stable public presence.
Below are the trading platforms that you can use to purchase RHI Magnesita India Ltd shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| October 2024 | 659.05 | 573.09 |
| November 2024 | 685.42 | 596.01 |
| December 2024 | 692.27 | 601.97 |
As we approach October 2024, RHI Magnesita India’s share price is expected to reach a maximum of ₹659.05 and a minimum of ₹573.09. Moving into November 2024, the prices are anticipated to rise further, with the maximum price projected to be ₹685.42 and the minimum ₹596.01. By December 2024, RHI Magnesita India is likely to see its stock hit a maximum of ₹692.27 and a minimum of ₹601.97. This upward trend reflects the company’s growing market presence and potential during the final quarter of 2024.
| When | Maximum Price | Minimum Price |
| January 2025 | 699.19 | 537.84 |
| February 2025 | 706.26 | 543.27 |
| March 2025 | 721.09 | 554.68 |
| April 2025 | 713.95 | 549.19 |
| May 2025 | 693.15 | 533.19 |
| June 2025 | 724.34 | 557.19 |
| July 2025 | 710.14 | 546.26 |
| August 2025 | 732.11 | 563.16 |
| September 2025 | 740.89 | 569.92 |
| October 2025 | 760.15 | 584.73 |
| November 2025 | 779.16 | 599.35 |
| December 2025 | 814.22 | 626.32 |
As we step into January 2025, RHI Magnesita India’s share price is expected to reach a maximum of ₹699.19 and a minimum of ₹537.84. Throughout the year, the stock is projected to fluctuate, with February seeing ₹706.26 and ₹543.27, March ₹721.09 and ₹554.68, and further changes in subsequent months. By October 2025, the price is anticipated to hit ₹760.15 at its highest and ₹584.73 at its lowest. Finally, as we step into December 2025, RHI Magnesita India is expected to close the year with a maximum of ₹814.22 and a minimum of ₹626.32.
| When | Maximum Price | Minimum Price |
| January 2026 | 838.65 | 645.11 |
| February 2026 | 817.68 | 628.98 |
| March 2026 | 834.03 | 641.56 |
| April 2026 | 851.05 | 654.66 |
| May 2026 | 842.63 | 648.18 |
| June 2026 | 863.69 | 664.38 |
| July 2026 | 846.76 | 651.35 |
| August 2026 | 872.95 | 671.50 |
| September 2026 | 890.41 | 684.93 |
| October 2026 | 913.56 | 702.74 |
| November 2026 | 936.40 | 720.30 |
| December 2026 | 959.81 | 738.31 |
| When | Maximum Price | Minimum Price |
| January 2027 | 969.40 | 745.70 |
| February 2027 | 994.26 | 764.82 |
| March 2027 | 1,033.04 | 794.64 |
| April 2027 | 1,012.78 | 779.06 |
| May 2027 | 983.28 | 756.37 |
| June 2027 | 1,027.53 | 790.41 |
| July 2027 | 1,007.38 | 774.91 |
| August 2027 | 1,038.54 | 798.88 |
| September 2027 | 1,074.89 | 826.84 |
| October 2027 | 1,102.83 | 848.33 |
| November 2027 | 1,130.41 | 869.54 |
| December 2027 | 1,158.67 | 891.28 |
| When | Maximum Price | Minimum Price |
| January 2028 | 1,181.84 | 909.11 |
| February 2028 | 1,212.14 | 932.42 |
| March 2028 | 1,259.42 | 968.78 |
| April 2028 | 1,234.72 | 949.79 |
| May 2028 | 1,198.76 | 922.12 |
| June 2028 | 1,252.70 | 963.62 |
| July 2028 | 1,228.14 | 944.72 |
| August 2028 | 1,266.12 | 973.94 |
| September 2028 | 1,310.44 | 1,008.03 |
| October 2028 | 1,344.51 | 1,034.24 |
| November 2028 | 1,378.12 | 1,060.09 |
| December 2028 | 1,412.57 | 1,086.60 |
| When | Maximum Price | Minimum Price |
| January 2029 | 1,440.83 | 1,108.33 |
| February 2029 | 1,477.77 | 1,136.75 |
| March 2029 | 1,535.40 | 1,181.08 |
| April 2029 | 1,505.30 | 1,157.92 |
| May 2029 | 1,461.45 | 1,124.20 |
| June 2029 | 1,527.22 | 1,174.78 |
| July 2029 | 1,497.27 | 1,151.75 |
| August 2029 | 1,543.58 | 1,187.37 |
| September 2029 | 1,597.61 | 1,228.93 |
| October 2029 | 1,639.14 | 1,260.88 |
| November 2029 | 1,680.12 | 1,292.40 |
| December 2029 | 1,722.13 | 1,324.71 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,756.57 | 1,351.21 |
| February 2030 | 1,801.61 | 1,385.85 |
| March 2030 | 1,871.87 | 1,439.90 |
| April 2030 | 1,835.17 | 1,411.67 |
| May 2030 | 1,781.72 | 1,370.55 |
| June 2030 | 1,861.89 | 1,432.23 |
| July 2030 | 1,825.39 | 1,404.14 |
| August 2030 | 1,881.84 | 1,447.57 |
| September 2030 | 1,947.71 | 1,498.24 |
| October 2030 | 1,998.35 | 1,537.19 |
| November 2030 | 2,048.31 | 1,575.62 |
| December 2030 | 2,099.51 | 1,615.01 |
In January 2030, RHI Magnesita India is expected to have a maximum price of ₹1,756.57 and a minimum price of ₹1,351.21. In February, the projected maximum is ₹1,801.61, with a minimum of ₹1,385.85. For March, the maximum may reach ₹1,871.87, while the minimum could be ₹1,439.90. In April, the anticipated maximum is ₹1,835.17, with a minimum of ₹1,411.67. By June, the expected maximum is ₹1,861.89 and the minimum is ₹1,432.23. For July, projections suggest a maximum of ₹1,825.39 and a minimum of ₹1,404.14. In August, the values may rise to a maximum of ₹1,881.84 and a minimum of ₹1,447.57. By September, the maximum could reach ₹1,947.71, while the minimum may be ₹1,498.24. In October, the maximum is anticipated to be ₹1,998.35 and the minimum ₹1,537.19. December is expected to close the year with a maximum of ₹2,099.51 and a minimum of ₹1,615.01.
Financial Condition of RHI Magnesita India: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,388 | 1,370 | 1,999 | 2,726 | 3,781 | 3,732 |
| Expenses + | 1,172 | 1,161 | 1,610 | 2,365 | 3,227 | 3,165 |
| Operating Profit | 215 | 209 | 390 | 361 | 555 | 567 |
| OPM % | 16% | 15% | 19% | 13% | 15% | 15% |
| Other Income + | 10 | 12 | 5 | -646 | -322 | -314 |
| Interest | 14 | 7 | 3 | 40 | 65 | 49 |
| Depreciation | 26 | 30 | 34 | 71 | 182 | 185 |
| Profit before tax | 186 | 185 | 357 | -396 | -16 | 19 |
| Tax % | 27% | 26% | 25% | 18% | 545% | |
| Net Profit + | 136 | 137 | 269 | -466 | -100 | -74 |
| EPS in Rs | 11.31 | 11.37 | 16.71 | -24.79 | -4.86 | -3.6 |
| Dividend Payout % | 22% | 22% | 15% | -10% | -51% |
The financial performance of the company from March 2020 to March 2024 presents a dynamic journey of growth, challenges, and evolving operational strategies. Over this period, the company saw a significant rise in sales, increasing from ₹1,388 crores in 2020 to ₹3,781 crores in 2024, reflecting robust expansion in its business activities. However, this revenue growth came with a parallel rise in expenses, which jumped from ₹1,172 crores in 2020 to ₹3,227 crores in 2024. Despite the rise in costs, the company managed to maintain a positive operating profit, which increased from ₹215 crores in 2020 to ₹555 crores in 2024, though the operating profit margin (OPM) fluctuated, peaking at 19% in 2022 before dropping to 13% in 2023 and stabilizing at 15% in 2024.
A major setback came in the form of other income, which turned from a positive ₹10-12 crores in the earlier years to significant losses in 2023 and 2024, with figures reaching as low as ₹-646 crores in 2023. This negative impact severely affected the company’s profitability. Interest expenses, which had been relatively low, surged to ₹65 crores in 2024, indicating increased financial liabilities, while depreciation also saw a substantial rise, reaching ₹182 crores, reflecting higher capital investments. These factors contributed to a dramatic shift in profitability, with the company reporting a loss of ₹466 crores in 2023 and continuing with a net loss of ₹100 crores in 2024, though the trailing twelve months (TTM) show some marginal improvement.
The tax burden in 2024 was abnormally high at 545%, exacerbating the financial difficulties and further eroding the company’s bottom line. As a result, the company’s EPS turned negative, plunging from ₹16.71 in 2022 to ₹-24.79 in 2023, and remained at ₹-4.86 in 2024. This deterioration in earnings also impacted dividend payouts, which dropped from 22% in the earlier years to -51% in 2024, reflecting the company’s inability to distribute profits to shareholders. Overall, while the company demonstrated strong revenue growth, its profitability was hindered by rising operational costs, negative other income, higher financial liabilities, and an unusually high tax burden, leading to significant financial losses and reduced shareholder value.
FAQs
What is the market capitalization of RHI Magnesita India?
RHI Magnesita India currently boasts a market capitalization of ₹12,332 Crores.
As of September 23rd, 2024, the share price of RHI Magnesita India stands at ₹599.
In 2025, RHI Magnesita India share price targets range from a low of ₹533.19 in May to a high of ₹814.22 by December.
Looking ahead to 2030, RHI Magnesita India share price is expected to range from ₹1,351.21 (minimum) in January to ₹2,099.51 (maximum) by December.
What is the current P/E (Price/Earnings) ratio of RHI Magnesita India?
RHI Magnesita India current P/E ratio is 54.9, indicating a solid position within the market.
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Conclusion
In conclusion, RHI Magnesita India Limited has demonstrated impressive financial growth, with sales increasing from ₹1,388 crores in 2020 to ₹3,781 crores in 2024. Despite facing challenges, the company has maintained a stable operating profit margin of 15% and a current market capitalization of ₹12,332 crores. Positive projections for its share price, expected to reach between ₹533.19 and ₹814.22 in 2025 and as high as ₹2,099.51 by 2030, highlight strong investor confidence. With a focus on innovation and sustainability, RHI Magnesita is well-positioned for continued success in the refractory industry.
What did we learn?
- 1 Shareholding Patterns of RHI Magnesita India Ltd
- 2 How to purchase RHI Magnesita India Ltd shares?
- 3 RHI Magnesita India Share Price Prediction: 2024 to 2030
- 3.1 RHI Magnesita India Can Share Price Target 2024
- 3.2 RHI Magnesita India Can Share Price Target 2025
- 3.3 RHI Magnesita India Can Share Price Target 2026
- 3.4 RHI Magnesita India Can Share Price Target 2027
- 3.5 RHI Magnesita India Can Share Price Target 2028
- 3.6 RHI Magnesita India Can Share Price Target 2029
- 3.7 RHI Magnesita India Can Share Price Prediction 2030
- 4 Financial Condition of RHI Magnesita India: Last 5 years
- 5 FAQs
- 5.1 What is the market capitalization of RHI Magnesita India?
- 5.2 What is the latest share price of RHI Magnesita India?
- 5.3 What are the projected share price targets for RHI Magnesita India in 2025?
- 5.4 What is the anticipated share price outlook for RHI Magnesita India in 2030?
- 5.5 What is the current P/E (Price/Earnings) ratio of RHI Magnesita India?
- 6 Conclusion
