RHI Magnesita India incorporates JV RHIM Khemka Minpro

RHI Magnesita India Ltd has incorporated a joint venture, RHIM Khemka Minpro Private Limited, on 16 July 2026 to bundle industrial minerals and refractory recycling activities. The subsidiary has been established with RHI Magnesita India holding 100% of the shareholding at the incorporation stage. The Certificate of Incorporation was issued by the Ministry of Corporate Affairs, Government of India, on 16 July 2026.

The joint venture operates within the refractories industry. RHI Magnesita India subscribed to 10,000 equity shares of Re 1 each, paying the amount in cash. While the listed entity currently holds full ownership, the agreement stipulates that Khemka will subscribe to a 49% shareholding in a subsequent step, reducing RHI Magnesita India's stake.

Details of the Incorporated Entity

The filing submitted to BSE Limited and National Stock Exchange of India Limited provided specific details regarding the new subsidiary. No governmental or regulatory approvals were required for the incorporation.

Sr. No.	Particulars	Details
1	Name of the entity, date & country of incorporation	Name of the entity - RHIM Khemka Minpro Private Limited Date of Incorporation – 16 July 2026 Country of Incorporation – India
2	Name of holding company	RHI Magnesita India Limited (“RHIM”)
3	Industry	Refractories
4	Line of business	It shall bundle industrial minerals and refractory recycling activities.
5	Governmental approvals	NIL
6	Nature of consideration	RHIM is subscribing 10,000 equity shares of Re 1/- each by paying the same in cash
7	Cost of subscription	Refer response to point no. 6 of this Annexure
8	Percentage of shareholding	100% at incorporation. Khemka will subscribe to 49% shareholding in subsequent step.

The disclosure was made in accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows an earlier intimation dated 25 June 2026 regarding the proposed joint venture.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.50%	-0.02%	+3.77%	-3.38%	-16.34%	+25.20%

RHI Magnesita India Ltd has appointed Pankaj Malhan as Managing Director & Chief Executive Officer effective July 1, 2026. The Board of Directors approved the leadership transition, with Parmod Sagar stepping down from his executive role to serve as Non-Executive Chairman. Pankaj Malhan brings over 30 years of leadership experience across steel, manufacturing, industrial materials, and infrastructure sectors to the role.

The Board met on June 30, 2026, to approve these changes in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Key Managerial Personnel (KMP) structure has been revised to include Pankaj Malhan, Azim Syed, and Sanjay Kumar as Company Secretary. The resignations of Parmod Sagar and Azim Syed were attributed to personal reasons, as stated in their respective resignation letters.

Changes in Leadership Roles

The reorganization involves a shift in designations for the outgoing and incoming executives. Parmod Sagar steps down from his executive role to assume the position of Non-Executive Chairman. Pankaj Malhan steps into the role of Managing Director & CEO.

Name	Previous Designation	New Designation	Effective Date
Parmod Sagar	Managing Director & CEO	Non-Executive Chairman	1 July 2026
Pankaj Malhan	Not Applicable	Managing Director & CEO	1 July 2026
Azim Syed	Whole-time Director & CFO	Chief Financial Officer	1 July 2026

Corporate Social Responsibility Committee

Following the resignation of Azim Syed as a member of the Corporate Social Responsibility (CSR) Committee, the Board reconstituted the committee. Pankaj Malhan has been appointed as a member. The revised composition of the CSR Committee includes Ms. Sonu Chadha as Chairperson, Mr. Parmod Sagar as a member, and Mr. Pankaj Malhan as a member.

Material Subsidiary Updates

The Board of Directors of RHI Magnesita India Refractories Limited, the material subsidiary of the company, also approved corresponding leadership changes in its meeting on June 30, 2026. Parmod Sagar resigned as Chairman, Managing Director & CEO of the subsidiary effective June 30, 2026. The subsidiary appointed Pankaj Malhan as Managing Director & CEO effective July 1, 2026.