RHI MAGNESITA INDIA LIMITED
RHI Magnestia India ltd earlier known as Orient Refractories Limited (ORL) is in the business of manufacturing and marketing special refractory products, systemsand services to the steel industry in India and Globally. It is a market leader for special refractories in India and has many global customers for its international quality products.
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RHI Magnesita India released its annual sustainability report, featuring a new joint venture for a greenfield refractory recycling facility in Odisha. This strategic move aligns with significant targets to cut CO2 emissions, reduce energy/waste, and boost recycled material use by 2026, strengthening its ESG profile.
RHI Magnesita India achieved record revenue of ₹4,020 Cr (9% YoY) and ₹180 Cr adjusted PAT. A non-cash ₹556 Cr goodwill impairment led to a ₹383 Cr net loss. Key developments include acquiring Ashwath Technologies, commissioning India's first robotic caster for steel, and a JV for a greenfield refractory recycling...
RHI Magnesita India's statutory auditor, Price Waterhouse, plans to resign to unify audit firms with its ultimate parent company. This operational change requires Board and Audit Committee approval.
RHI Magnesita India formed a 51:49 JV with Khemka Refractories to establish a greenfield refractory recycling facility in Odisha. This aims to accelerate circular business models, strengthen supply chain resilience, and foster sustainable industrial growth in India.
RHI Magnesita (RHIM) formed a 51:49 JV with Khemka Refractories to establish a greenfield refractory recycling facility in Odisha. This JV leverages RHIM's global expertise and Khemka's regional network, aiming to boost India's circular economy and strengthen supply chains.