Monolithisch India, a major player in unshaped refractory materials, has announced a capacity expansion of 1,32,000 Tonnes Per Annum (TPA) to 1,56,000 TPA effective 15 July 2025. This is a key step in the company’s long-term plan to scale up, meet the growing demand in the secondary steel industry and consolidate its position in the ramming mass segment.
This 18.2% capacity increase was announced in a press release and stock exchange filing on 13 July 2025.
Phased Expansion Underway
July is just the first leg of the Monolithisch India capacity expansion. As per the company’s statement, Monolithisch India plans to scale up further:
- 2,15,000 TPA by mid-September 2025
- 2,50,000 TPA by 31 December 2025
Eventually, the company is targeting to achieve a cumulative net installed capacity of 5,74,000 TPA, including its subsidiary Metalurgica India. This aggressive expansion is in line with the company’s strategy to leverage India’s infrastructure and manufacturing growth story, driven by government initiatives like Make in India.
The new capacity will support existing products as well as the recently launched SGB-Limited premium product line for specialised applications in domestic and export markets.
Backed by Strong Financials and Investor Confidence
Monolithisch India has emerged as a breakout story in India’s SME segment. Its FY25 revenue surged by 41% to INR 97.34 crore (from INR 68.89 crore in FY24), while net profit jumped 70% to INR 14.49 crore, showcasing robust operational efficiency and demand visibility.
Key financial metrics include:
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue (INR Cr) | 41.88 | 68.89 | 97.34 |
| Net Profit (INR Cr) | 4.54 | 8.51 | 14.49 |
| EBITDA Margin | 16.04% | 18.81% | 12.64% |
| ROCE | 46.80% | 57.86% | 46.22% |
| RONW | 45.41% | 45.97% | 41.15% |
Blockbuster IPO and Market Performance
Listed on NSE Emerge on 19 June 2025, Monolithisch India IPO was a blockbuster. Priced at INR 143, the issue was oversubscribed to 182.89 times. Shares debuted at INR 231.55 — a 61.92% listing premium — and have since gone above INR 443, giving 210%+ returns to IPO investors in just one month.
This caught the attention of veteran investor Mukul Agrawal, who bought 5 lakh shares (2.3% stake) in June 2025. Agrawal’s portfolio strategy is focused on early-stage growth opportunities in scalable sectors, and Monolithisch India fits the bill.
Operational Advantages
Monolithisch India is based out of Purulia, West Bengal and has geographical advantages of being close to raw material sources in Jharkhand, Bihar and Madhya Pradesh, which helps in cost-effective logistics and better margins.
The company has a client base in the iron and steel industry in Odisha, Jharkhand and West Bengal, and 61% of the revenue comes from repeat customers, which is a testimony to the product quality and service consistency.
Also, the company’s ramming mass variants like SGB-777, SLM-999 and SLM-980 are designed to meet different furnace requirements, which gives it market adaptability and stickiness.
What Lies Ahead?
With increased production capacity and a growing portfolio, Monolithisch India is all set to ride the industrialisation and steel demand wave in India. Its focus on sustainability, technology and customer centricity is a sign of a company thinking long term.
The capacity increase is more than just an operational upgrade — it’s the beginning of a high-growth phase for Monolithisch India from a niche SME to a midcap player with strong fundamentals, investor backing and strategic expansion plans.
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Disclosure: This article is based on company filings, investor reports, and publicly available data. Readers should exercise due diligence or consult financial advisors before making investment decisions.