RHI Magnesita India Ltd
RHI Magnesita India Ltd (RHIM)

RHI Magnesita India Ltd (RHIM)

₹669.952.92%

Key Stats

₹636.1
Day's Price Range
₹677
₹323.3
52-Week Price Range
₹701.15
1 Month Return4.21 %
3 Month Return29.28 %
1 Year Return83.45 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 157
34.77
EPS
Rank 77
₹18.72
BVPS
Rank 138
₹63.9
Dividend Yield
Rank 77
1.1%
ROE
Rank 31
29.24%
Price To Book Ratio
Rank 184
10.18
Debt To Asset
Rank 229
0.36

Company Information

RHI Magnesita India Ltdformerly Orient Refractories Ltdis amongst one of the top refractory manufactures in India. The company primarily manufactures refractories for the steel industry. ORL sells its products both in India and overseas. It provides a wide range of special refractories. The companys product range includes Isostatically Pressed Continuous Casting Refractories Slide Gate Plates Nozzles and Well Blocks Tundish Nozzles Bottom Purging Refractories and Top Purging Lances Slag Arresting Darts Basic Spray Mass for Tundish working lining and Castables. All these products are custom made to suit the casting conditions and grade of steel being cast. The Companys manufacturing facility is based in Bhiwadi Rajasthan which is located in close proximity to New Delhi. The Company also has franchise operation in Salem Tamilnadu for manufacturing basic spray mass.Orient Refractories Ltd was incorporated on November 26 2010 as a wholly owned subsidiary of Orient Abrasives Limited. The company entered into a Scheme of Arrangement with Orient Abrasives Limited and their respective shareholders which became effective on April 1 2011. In terms of the Scheme the refractory business of Orient Abrasives Limited was demerged into the Company on a going concern basis. Thus the company is authorized to carry on the business of manufacturers producers processors importers exporters buyers sellers of and dealers in all kinds of refractories.During the 201213 pursuance to share purchase agreement vide dated 15 January 2013 entered by M/s Dutch US Holding B.V. Netherlands with Mr S G Rajgarhia and other expromoters of the Company and also post offer made to shareholders of the Company. M/s Dutch US Holding B.V. acquired 52401579 43.62 equity shares on 04 March 2013 from the expromoters and thus acquired control over the Company and immediately thereafter change in management took place. M/s Dutch US Holding B.V. also acquired 31236192 26.00 equity shares under above said open offer. As on 31 March 2013total equity holding of M/s Dutch US Holding B.V. is 83637771 69.62. Dutch US Holding B.V. is a whollyowned subsidiary of M/s. Veitscher Vertriebsgesellschaft m.b.H. which is a wholly owned subsidiary of M/s. RHI AG Vienna Austria and is part of the M/s. RHI group. M/s. Dutch US Holding B.V. is also promoted by M/s. RHI AG.In the year 2016 Orient Refractories Ltd parent Company RHI AG reached an agreement with controlling shareholding of another global refractory company M/s. Magnesita GP Rohne. The combined Company will be able to offer ORL customers even more comprehensive range of products and services.RHI AG had acquired Magnesita in the year 2016. RHI Magnesita is the global leader in the refractory business in terms of revenue. The merger had enabled RHI to expand its geographical footprint thus giving access to global mining network by providing access to the mines in America. RHI Magnesita group has three flagship companies in India RHI Clasil Private Limited RHI India Private Limited and Orient Refractories Limited.In view of increase in demandthe capacity of isotopic products of 9300 tons per annum was increased to 11700 tons per annum in 2018. The other project includes installation of hydraulic press for slide gate refractory which is expected to be completed in third quarter of FY 201920.The board of directors on 30 April 2019 approved the acquisition of the entire paidup equity share capital of Intermetal Engineers India Private LimitedIEIPL to make it a wholly owned subsidiary of the Company. On 18 May 2019 the Company completed the process of acquisition of IEIPL.The board of directors of the Company at its meeting held on 31 July 2018 had granted its inprinciple approval to the scheme of amalgamation of RHI India Private Limited RHI India and RHI Clasil Private Limited RHI Clasil together the Merging Entities with and into the Company. In this regard the board of directors had approved the share exchange ratio i.e. for every 100 equity shares of face value of Rs. 10 each of RHI India issue of 7044 equity shares of face value of Re. 1 each of the Company and for every 1000 equity shares of face value of Rs. 10 each of RHI Clasil issue of 908 equity shares of face value of Re. 1 each of the Company.During the FY2020the Company has invested Rs 43.56 Crore to purchase certain assets of plant situated at Baichuana Tangi Distt. Cuttack Orissa of Manishri Refractories Ceramics Private Limited MRCPL. This plant capacity is 10000 Tons for manufacturing of MGU bricks through recycling and with further capex the capacity will be increased to 18000 Tons per annum. The Plant has started production from November2019. Further during the year Company has acquired 100 shareholding of Intermetal Engineers India Private Limited IEIPL for Rs.10.10 Crore for manufacturing of steel plant equipment viz. slide gate system for flow control of liquid steel oxygen lancing and CCM assemblies such as mould jacket assembly dummy bar assembly specially used during the flow of liquid steel for continuous casting ingot casting which are exported to its regular customers in Gulf and African Region and caters to about 300 to 400 regular steel plant customers in India. IEIPL has a plant in Mumbai. These investments are made through internal accruals.Due to COVID19 pandemica nationwide lockdown was declared on 24th March 2020 extended till June 2020. The pandemic has impacted the steel production and consumption in all the major economies.The NCLT vide its Order dated 5 May 2021 has approved the Scheme with an appointed date of 31 July 2018 in view of the order passed by the NCLAT. On 11 June 2021 the Board of Directors of the Company took on record the sanction of the Scheme by the NCLT change in the authorised share capital and have fixed the record date as 24 June 2021 for the purpose of determining the shareholders of its erstwhile fellow subsidiaries who shall be entitled to receive the shares of the Company. As a consideration of the merger of the Company with the erstwhile fellow subsidiaries the Company on 25 June 2021 issued and allotted 40857131 equity shares of Re. 1/ each fully paid up to the shareholders of the erstwhile fellow subsidiaries.The Company on 7 July 2021 applied with BSE Limited and National Stock Exchange of India Limited for inprinciple approval for listing of the said 40857131 equity shares.The name of the Company w.e.f. 2 July 2021 changed from Orient Refractories Limited to RHI Magnesita India Limited. The change of name was approved by the Board of Directors of the Company at their meeting held on 11 June 2021 pursuant to and as per the terms of the Scheme of Amalgamation amongst RHI India Private Limited RHI Clasil Private Limited and Orient Refractories Limited as approved and sanctioned by NCLT.The shares of the Company have commenced trading on BSE Limited and National Stock Exchange of India Limited with the new name RHI Magnesita India Limited with scrip code RHIM with effect from 22 July 2021.
OrganisationRHI Magnesita India Ltd
HeadquartersMumbai
IndustryRefractories