RHI Magnesita India reports 37% rise in revenue for FY 2023
Gurugram: RHI Magnesita India, a manufacturer and supplier of high-grade refractory products, systems and solutions, has reported an income of Rs 2,741 crores in FY23, as compared to Rs 2,005 crores for FY 22.
Adjusted EBITDA before one time and exceptional item stood at Rs 439 crores at 16% against Rs. 393 crores in the previous financial year.
Commenting on the results, Parmod Sagar – MD & CEO of RHI Magnesita India said, “In FY23, we remained committed to the Indian market and ramped up our capacity with the acquisition of Dalmia OCL and Hi-Tech Chemicals. These acquisitions aim to help us serve our customers with a local-for-local approach and evolve India as a hub to serve other regions. We are well on track to achieve our integration synergy targets through these acquisitions, and we are excited for the future.
On a consolidated basis, the total income for the quarter ending March 31, 2023, stood at Rs. 881 crores, 49% growth Q-o-Q as against Rs. 592 crores in the quarter of March 2022.
Adjusted EBITDA before one time and exceptional item stood at Rs 118 crores at 13.4% Vs Rs. 140 crores in the same quarter in the previous year.
The Board of Directors has proposed a dividend of Rs. 2.50 per share (250% on equity share of par value of Re 1) subject to the approval of the members of the Company in the Annual General Meeting.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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