RHI Magnesita India Limited, a renowned manufacturer and supplier of top-quality refractory products, systems, and solutions, has released its consolidated financial results for the period ending on March 31, 2023. The company concluded the fiscal year 2022-23 with a revenue of Rs. 2,741 crores, exhibiting substantial growth from Rs. 2,005 crores in the previous fiscal year 2021-22. The EBITDA (earnings before interest, taxes, depreciation, and amortization) before exceptional items amounted to Rs. 375 crores, compared to Rs. 393 crores in the preceding financial year.
Parmod Sagar, the Managing Director and CEO of RHI Magnesita India, expressed his views on the outcomes, stating, “Throughout FY23, we remained steadfast in our commitment to the Indian market and expanded our capacity through the acquisition of Dalmia OCL and Hi-Tech Chemicals. These acquisitions enable us to serve our customers with a local for local approach and position India as a hub for serving other regions. We are progressing well in achieving the integration synergy targets through these acquisitions, and we are excited for what the future holds.”
During the meeting held on May 30, 2023, the Board of Directors proposed a dividend of Rs. 2.50 per share (250% on equity share with a par value of Re 1), which is subject to the approval of the company’s members in the Annual General Meeting.