This refractory stock is trading at all time high price on October 18

This company has a 15 per cent market share in the global refractory market.

The shares of Rhi Magnesita India Ltd surged 7.26 per cent and closed at Rs 719.05. The stock opened at Rs 681. and made an intraday high and low of Rs 728 and Rs 677.85, respectively. 

RHI Magnestia India Ltd is in the business of manufacturing and marketing special refractory products, systems, and services to the steel industry in India and International markets. The company can offer full heat management solutions to its customers. 

According to FY22, about 70 per cent of the company’s revenue comes from the Steel industry, 10 per cent from the Cement industry, 7 per cent from Non‐ferrous metals, 7 per cent from Glass, and the rest 6 per cent from Energy, Environmental, and Chemicals industry. 

Rhi Magnesita India has a 15 per cent market share in the global refractory market. It has a 25 per cent market share in India, 65 per cent in South America, 50 per cent in Africa, 40 per cent in North America, 40 per cent in the Middle East, 20 per cent in Europe, and 10 per cent in East Asia. 

Q1FY23 revenue stood at Rs 602 crore, exhibiting a 40 per cent YoY improvement. The net profit increased by 64.76 per cent and came at Rs 82.35 crore. The net profit improved from 11.64 per cent in Q1FY22 to 13.68 per cent in Q1FY23. 

About the shareholding pattern, about 70.19 per cent of the stake is owned by the promoters, 2.2 per cent by FIIs, 8.29 per cent by DIIs, and the rest 19.32 per cent by the non-institutional investors. 

The company has a market capitalization of Rs 11576 crore and is trading at a PE multiple of 38.4x. The scrip has a 52-week high and low of Rs 728 and Rs 322.7, respectively.