Rain Industries Ltd
RAIN NSE
Rain Industries Ltd
ChemicalsNSE: RAIN BSE: 500339 Petrochemicals
Key Fundamentals
MicrocapPetrochemicalsChemicalsMarket Cap
₹6,961 Cr
Volatility
Moderate
P/E Ratio
12.81
EBITDA
₹2,276 Cr
Return on Equity
1.77%
Debt to Equity
1.35
Book Value
₹237.69
EPS
₹0
52W High
₹252
52W Low
₹99.9
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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40 extracted metrics + investor summaries across FY14–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Stock is trading at 0.87 times its book value
- Company has been maintaining a healthy dividend payout of 23.2%
Weaknesses
2- The company has delivered a poor sales growth of 10.1% over past five years.
- Company has a low return on equity of -6.68% over last 3 years.
Growth Rate
Revenue Growth
9.37% ↘
Net Income Growth
-130.21% ↘
Cash Flow Change
-53.83% ↘
ROE
-126.86% ↘
ROCE
69.79% ↗
EBITDA Margin (Avg.)
36.90% ↗
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 18d agoAI opinion · based on fundamentals
Risk high
Rain Industries trades at a market cap of ₹7,544 Cr with a P/E of 18.2x and P/B of 1.0x. The company reported consolidated revenue of ₹153.74 billion for CY2024 (down from ₹181.41 billion in CY2023) and posted an adjusted net loss of ₹4.42 billion for the full year, though Q1 2025 showed sequential improvement with EBITDA rising to ₹4.34 billion from ₹3.26 billion in Q1 2024. High leverage (debt-to-equity ~1.28x, total debt/EBITDA ~7x) and a negative 3-year ROE of -7% weigh against the stock's low book-value multiple and recent TTM profit recovery of 154%.
Bull Case 7
- Stock trades at 1.0x book value, offering deep value relative to historical averages and sector peers
- TTM compounded profit growth of 154% signals a sharp earnings recovery from the CY2023 trough
- Q1 2025 adjusted EBITDA improved 33% YoY to ₹4.34 billion vs ₹3.26 billion in Q1 2024, showing operating momentum
- 1-year stock CAGR of 41% reflects market recognition of the cyclical upturn in carbon products
- TTM revenue growth of 14% marks a return to top-line expansion after 3-year sales CAGR of -7%
- Company maintains a healthy dividend payout ratio of 23.2%, providing some income cushion at 0.45% yield
- 10-year stock CAGR of 20% and 10-year sales CAGR of 5% demonstrate long-term compounding ability through cycles
Bear Case 8
- Debt-to-equity ratio of approximately 1.28x and total debt/EBITDA of ~7x indicate significant financial leverage risk
- 3-year average ROE of -7% and last-year ROE of just 1% show persistently poor capital efficiency
- Low interest coverage ratio puts the company at risk if rates stay elevated or EBITDA disappoints
- Consolidated revenue fell 15% from ₹181.41 billion (CY2023) to ₹153.74 billion (CY2024), indicating demand/pricing weakness
- 5-year compounded profit CAGR of -40% highlights structural earnings deterioration over a medium-term horizon
- 5-year sales growth of only 10.1% (roughly 2% annualised) is well below cost-of-capital requirements
- CY2024 full-year adjusted net loss of ₹4.42 billion (adjusted loss per share ₹13.14) shows the company was unprofitable on a reported basis
- Q1 2025 still posted an adjusted net loss of ₹0.98 billion despite EBITDA improvement, reflecting heavy interest and depreciation burden
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 74d ago Positives 2
- Q1 profit swing, EBITDA up 82% May 11
Rain Industries swung to net profit of ₹1.2B in Q1 2026 vs a loss of ₹1.4B YoY. Revenue rose 20% to ₹45.2B and EBITDA jumped to ₹6.9B from ₹3.8B, with margin expanding to 15.41% from 10.10%.
- AGM clears dividend, all resolutions passed May 12
51st AGM held on May 12, 2026 passed all four ordinary resolutions including adoption of financials and an interim dividend of Rs. 1 per share.
TL;DR: Rain Industries delivered a strong Q1 2026 turnaround with a return to profitability, significant revenue growth, and near-doubling of EBITDA. Shareholder governance appears smooth with all AGM resolutions passed unanimously. No visible headwinds in the latest news flow. The improving margin trajectory and profit recovery suggest positive momentum heading into the rest of FY26, though commodity cyclicality remains an inherent risk to watch.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,627 | 4,160 | 4,101 | 3,670 | 4,094 | 3,934 | 3,676 | 3,768 | 4,401 | 4,476 | 4,301 | 4,521 | 5,167 |
| Expenses | 3,982 | 3,794 | 4,712 | 3,328 | 3,725 | 3,718 | 3,330 | 3,388 | 3,772 | 3,849 | 3,800 | 3,824 | 4,203 |
| Operating Profit | 645 | 366 | -612 | 342 | 369 | 216 | 346 | 380 | 629 | 627 | 501 | 697 | 964 |
| OPM % | 14% | 9% | -15% | 9% | 9% | 6% | 9% | 10% | 14% | 14% | 12% | 15% | 19% |
| Other Income | 33 | 49 | 73 | 54 | 59 | 99 | 37 | 25 | 28 | 37 | 51 | 46 | 33 |
| Interest | 169 | 242 | 245 | 235 | 245 | 234 | 227 | 224 | 228 | 237 | 232 | 238 | 251 |
| Depreciation | 196 | 193 | 195 | 195 | 186 | 189 | 237 | 207 | 225 | 236 | 254 | 249 | 245 |
| PBT | 313 | -20 | -979 | -34 | -2 | -108 | -82 | -26 | 204 | 191 | 66 | 256 | 501 |
| Tax % | 34% | 237% | 10% | 244% | 1912% | 44% | 63% | 344% | 59% | 32% | 43% | 38% | 32% |
| Net Profit | 207 | -66 | -1,079 | -116 | -45 | -155 | -134 | -115 | 83 | 130 | 38 | 158 | 341 |
| EPS in Rs | 4.92 | -2.68 | -33.26 | -4.34 | -2.32 | -5.33 | -4.8 | -4.09 | 1.8 | 3.15 | 0.4 | 3.61 | 8.81 |
Profit & Loss
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11,921 | 10,205 | 9,258 | 11,303 | 14,049 | 12,361 | 10,465 | 14,527 | 21,011 | 18,141 | 15,374 | 16,946 | 18,464 |
| Expenses | 10,716 | 8,854 | 7,727 | 9,030 | 12,083 | 10,880 | 8,787 | 12,166 | 17,474 | 17,208 | 14,100 | 14,809 | 15,676 |
| Operating Profit | 1,205 | 1,351 | 1,531 | 2,273 | 1,966 | 1,481 | 1,677 | 2,360 | 3,537 | 933 | 1,274 | 2,137 | 2,788 |
| OPM % | 10% | 13% | 17% | 20% | 14% | 12% | 16% | 16% | 17% | 5% | 8% | 13% | 15% |
| Other Income | -180 | 72 | 99 | -68 | 42 | 156 | 456 | 193 | 105 | 180 | 248 | 141 | 167 |
| Interest | 620 | 596 | 631 | 595 | 457 | 452 | 491 | 479 | 524 | 819 | 941 | 922 | 959 |
| Depreciation | 347 | 328 | 519 | 526 | 555 | 594 | 792 | 798 | 790 | 776 | 807 | 922 | 983 |
| PBT | 58 | 498 | 480 | 1,084 | 996 | 591 | 851 | 1,276 | 2,327 | -482 | -226 | 435 | 1,014 |
| Tax % | -21% | 39% | 37% | 27% | 37% | 22% | 31% | 46% | 32% | 65% | 99% | 69% | — |
| Net Profit | 70 | 302 | 301 | 792 | 631 | 462 | 588 | 694 | 1,577 | -796 | -450 | 136 | 667 |
| EPS in Rs | 2.63 | 9.61 | 8.65 | 22.7 | 17.29 | 11.64 | 16.6 | 17.25 | 42.77 | -27.89 | -16.78 | 1.26 | 15.97 |
| Div. Payout % | 38% | 10% | 12% | 9% | 6% | 9% | 6% | 6% | 2% | -4% | -6% | 79% | — |
Balance Sheet
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 2,879 | 2,870 | 3,098 | 3,877 | 4,555 | 4,893 | 5,466 | 6,042 | 8,360 | 7,275 | 6,570 | 7,382 | 7,927 |
| Borrowings | 7,673 | 7,596 | 7,326 | 7,332 | 7,779 | 7,845 | 8,859 | 8,489 | 9,731 | 8,690 | 8,494 | 9,824 | 10,795 |
| Other Liabilities | 2,734 | 2,511 | 2,354 | 3,100 | 3,297 | 3,193 | 3,471 | 3,864 | 3,787 | 3,954 | 3,803 | 3,486 | 3,976 |
| Total Liabilities | 13,352 | 13,044 | 12,845 | 14,376 | 15,699 | 15,998 | 17,863 | 18,463 | 21,945 | 19,987 | 18,935 | 20,759 | 22,765 |
| Fixed Assets | 8,712 | 8,540 | 8,923 | 8,690 | 9,261 | 9,492 | 11,124 | 10,939 | 11,977 | 11,357 | 11,184 | 12,543 | 12,630 |
| CWIP | 269 | 411 | 226 | 441 | 795 | 1,362 | 931 | 791 | 467 | 432 | 473 | 336 | 389 |
| Investments | 26 | 19 | 32 | 35 | 13 | 39 | 15 | 13 | 14 | 17 | 26 | 29 | 30 |
| Other Assets | 4,345 | 4,074 | 3,664 | 5,211 | 5,631 | 5,105 | 5,793 | 6,719 | 9,487 | 8,181 | 7,252 | 7,852 | 9,716 |
| Total Assets | 13,352 | 13,044 | 12,845 | 14,376 | 15,699 | 15,998 | 17,863 | 18,463 | 21,945 | 19,987 | 18,935 | 20,759 | 22,765 |
Cash Flow
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 1,291 | 1,238 | 1,567 | 868 | 1,706 | 2,240 | 1,823 | 834 | 1,036 | 3,063 | 1,943 | 897 |
| Investing | -382 | -531 | -504 | -539 | -1,038 | -1,265 | -798 | -510 | -576 | -711 | -257 | -267 |
| Financing | -883 | -795 | -887 | -520 | -619 | -653 | -600 | -740 | -396 | -2,115 | -1,771 | -1,025 |
| Net Cash Flow | 26 | -88 | 176 | -192 | 49 | 322 | 425 | -417 | 65 | 237 | -84 | -395 |
| Free Cash Flow | 897 | 745 | 1,087 | 428 | 552 | 1,048 | 763 | 327 | 369 | 2,470 | 1,294 | 441 |
| CFO/OP | 121 | 103 | 122 | 56 | 109 | 171 | 123 | 52 | 45 | 365 | 172 | 54 |
Ratios
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 42 | 43 | 41 | 54 | 42 | 33 | 38 | 43 | 43 | 44 | 41 | 44 |
| Inventory Days | 81 | 112 | 105 | 134 | 112 | 95 | 118 | 124 | 146 | 104 | 126 | 137 |
| Days Payable | 53 | 71 | 63 | 77 | 63 | 43 | 62 | 69 | 50 | 44 | 63 | 47 |
| Cash Conversion Cycle | 70 | 84 | 83 | 111 | 90 | 84 | 95 | 98 | 139 | 104 | 104 | 134 |
| Working Capital Days | 32 | 35 | 29 | -49 | 46 | 29 | 21 | 54 | 64 | 53 | 27 | 45 |
| ROCE % | 8% | 10% | 11% | 17% | 12% | 8% | 10% | 12% | 17% | 2% | 4% | 8% |
Documents
1
Clarification sought from Rain Industries Ltd
26 May - Exchange has sought clarification from Rain Industries Ltd on May 26, 2026, with reference to Movement in Volume. 26 May - Exchange has sought clarification from Rain Industries Ltd on May 26, 2026, with reference to Movement in Volume.
2
Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Rain Industries Limited - News paper clippings of publication of Un-Audited Financial Results (Standalone, Consolidated and segment) for the First Quarter ended March 31, 2026 2d - Rain Industries Limited - News paper clippings of publication of Un-Audited Financial Results (Standalone, Consolidated and segment) for the First Quarter ended March 31, 2026
3
Board Meeting Outcome for Rain Industries Limited - Un-Audited Financial Results Of The Company (Standalone, Consolidated And Segment) For The First Quarter Ended March 31, 2026.
8 May - Rain Industries approved Q1 FY2026 results; consolidated revenue ₹45,207.3 million, PAT ₹1,578.64 million, unmodified review. 8 May - Rain Industries approved Q1 FY2026 results; consolidated revenue ₹45,207.3 million, PAT ₹1,578.64 million, unmodified review.
4
Rain Industries Limited-Un-Audited Financial Results Of The Company (Standalone, Consolidated And Segment) For The First Quarter Ended March 31, 2026
8 May - Board approved Q4 FY26 unaudited standalone and consolidated results; consolidated net profit rose to INR 1,578.64 million. 8 May - Board approved Q4 FY26 unaudited standalone and consolidated results; consolidated net profit rose to INR 1,578.64 million.
5
Rain Industries Limited - Earnings Presentation On Un-Audited Financial Results Of The Company (Standalone, Consolidated And Segment) For The First Quarter Ended March 31, 2026
8 May - Rain Industries Q1 2026 revenue ₹45.21 billion, adjusted EBITDA ₹7.15 billion, PAT ₹1.25 billion. 8 May - Rain Industries Q1 2026 revenue ₹45.21 billion, adjusted EBITDA ₹7.15 billion, PAT ₹1.25 billion.
Frequently Asked Questions about Rain Industries Ltd
What does Rain Industries Ltd do?
Rain Industries Limited (RAIN) is a leading vertically integrated producer of carbon, cement and Advanced materials products. Headquartered in India, RAIN has manufacturing facilities in eight countries across three continents. [1]
Where is Rain Industries Ltd (RAIN) listed?
Rain Industries Ltd is listed on the Indian stock exchanges. It is listed on NSE: RAIN and BSE: 500339. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Rain Industries Ltd belong to?
Rain Industries Ltd operates in the Chemicals sector within the Petrochemicals industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Rain Industries Ltd?
Rain Industries Ltd has a market capitalisation of approximately ₹6961.01 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Rain Industries Ltd?
The Price-to-Earnings (PE) ratio of Rain Industries Ltd is 12.81. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Rain Industries Ltd?
Over the past 52 weeks, Rain Industries Ltd has traded between a low of ₹99.9 and a high of ₹252. This range helps investors understand the stock's price volatility and recent trading levels.
Does Rain Industries Ltd pay dividends?
Yes, Rain Industries Ltd has a dividend yield of 0.49%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Rain Industries Ltd?
Rain Industries Ltd has a Return on Equity (ROE) of 1.77%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Rain Industries Ltd on Tapetide?
On Tapetide, you can view Rain Industries Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
Rain Industries Limited (RAIN) is a leading vertically integrated producer of carbon, cement and Advanced materials products. Headquartered in India, RAIN has manufacturing facilities in eight countries across three continents. [1]
Website rain-industries.com
CEO Mr. Jagan Mohan Reddy Nellore
Employees 2,394
Listed 2008-03-03
Face Value ₹ 2
Issued Size 33,63,45,679