PARMOD SAGAR, MD & CEO of RHI Magnesita India, has had a busy quarter. We catch him shortly after the completion of RHIM’s two acquisitions and just a day after it reported its December quarter results. Sagar, 55, has been at the helm of affairs at the Gurugram-based manufacturer and supplier of refractory products—used in steel, cement, non-ferrous metals, and glass industries— since 2013. Now, it wants to expand further.
RHIM India—born out of the integration of three Indian subsidiaries, RHI Clasil, RHI India, and Orient Refractories, of Austria-based RHI Magnesita Group—had announced the acquisition of Dalmia-OCL and Hi-Tech Chemicals in the December quarter, for which it shelled out ₹1,708 crore and ₹621 crore, respectively. “These acquisitions will help us serve our customers globally, as well as make India a hub to serve other regions,” says Sagar, adding that the challenge now will be to integrate the three companies, build a one-team culture and drive synergies in the nine manufacturing plants, from three earlier. “But, we are excited,” he says.
The two acquisitions have tripled RHIM India’s capacity to 500,000 tonnes, and upped its share in the domestic refractory market to 30 per cent. Dalmia-OCL, particularly, allows the company to make strong inroads into the non-steel industrial segment. “Earlier, our ratio was 80 per cent steel and 20 per cent industrial (cement, glass, non-ferrous). Now, it is 72 per cent steel and 28 per cent industrial. This gives us a lot of leverage,” says Sagar, who is the winner in the Industrials category of the BT-PwC India’s Best CEOs ranking this year.
Bu hikaye Business Today India dergisinin May 14, 2023 sayısından alınmıştır.
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Bu hikaye Business Today India dergisinin May 14, 2023 sayısından alınmıştır.
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