RHI Magnesita India, formerly known as Orient Refractories, is a manufacturer and supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. It holds a 30% market share.

The stock has been holding the position of the top gainer on the BSE intermittently today; the stock price rose almost 13% to hit an intraday high at Rs.666.25 and is currently trading at Rs.660 levels.

The company announced its earnings for Q1FY25 on 14^th; it reported a 7% (YoY) drop in revenue at Rs.879 crore due to subdued demand. PAT was flat at Rs.73 crore. Subdued customer activity was due to unprecedented heatwave, India election, import of steel from South East Asia & China and temporary export volume reduction.

EBITDA though saw an improvement of 3% at Rs.157 crore with margins going up from 14.6% to 17.9% - this is a record margin and comes after the acquisitions of Hitech & Dalmia refractories and this is the reason why the markets have given the stock a thumbs up.