Rain Industries Ltd
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]
- Market Cap ₹ 3,663 Cr.
- Current Price ₹ 109
- High / Low ₹ 176 / 99.8
- Stock P/E 388
- Book Value ₹ 27.5
- Dividend Yield 0.92 %
- ROCE 2.28 %
- ROE 1.02 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 3.96 times its book value
- Company has low interest coverage ratio.
- Tax rate seems low
- Company has a low return on equity of 3.55% over last 3 years.
- Earnings include an other income of Rs.13.3 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Chemicals Chemicals & Petrochemicals Petrochemicals
Part of BSE Allcap BSE Commodities Nifty Microcap 250 Nifty Total Market
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 86 | 45 | 60 | 105 | 64 | 48 | 54 | 54 | 124 | 141 | 131 | |
| 12 | 91 | 48 | 62 | 112 | 67 | 50 | 56 | 63 | 127 | 142 | 118 | |
| Operating Profit | -4 | -4 | -3 | -3 | -6 | -3 | -3 | -2 | -9 | -3 | -1 | 12 |
| OPM % | -58% | -5% | -7% | -4% | -6% | -5% | -5% | -4% | -17% | -2% | -0% | 9% |
| 61 | 56 | 68 | 59 | 104 | 61 | 50 | 50 | 50 | 79 | 64 | 13 | |
| Interest | 22 | 24 | 29 | 18 | 20 | 19 | 12 | 8 | 8 | 16 | 19 | 16 |
| Depreciation | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 34 | 27 | 35 | 39 | 77 | 39 | 35 | 39 | 32 | 60 | 44 | 9 |
| Tax % | 28% | 2% | 6% | 17% | 22% | 8% | 21% | 20% | 14% | 11% | 11% | -2% |
| 25 | 26 | 33 | 32 | 60 | 35 | 27 | 31 | 28 | 53 | 39 | 9 | |
| EPS in Rs | 0.73 | 0.78 | 0.98 | 0.95 | 1.80 | 1.05 | 0.81 | 0.93 | 0.83 | 1.58 | 1.16 | 0.28 |
| Dividend Payout % | 137% | 129% | 102% | 210% | 56% | 95% | 123% | 108% | 121% | 63% | 86% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 22% |
| 3 Years: | 34% |
| TTM: | -8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -10% |
| 5 Years: | -19% |
| 3 Years: | -30% |
| TTM: | -74% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | -6% |
| 3 Years: | -11% |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 3% |
| 3 Years: | 4% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Jun 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 252 | 245 | 857 | 855 | 849 | 850 | 844 | 842 | 836 | 855 | 861 | 858 |
| 279 | 329 | 473 | 318 | 348 | 338 | 277 | 202 | 166 | 220 | 170 | 170 | |
| 16 | 8 | 15 | 11 | 45 | 20 | 11 | 22 | 15 | 18 | 17 | 16 | |
| Total Liabilities | 614 | 649 | 1,413 | 1,251 | 1,308 | 1,276 | 1,200 | 1,133 | 1,083 | 1,160 | 1,115 | 1,112 |
| 10 | 9 | 8 | 7 | 8 | 7 | 7 | 7 | 7 | 8 | 7 | 7 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 304 | 305 | 917 | 917 | 917 | 917 | 917 | 917 | 949 | 999 | 1,050 | 1,050 |
| 300 | 335 | 488 | 327 | 383 | 352 | 276 | 208 | 127 | 154 | 58 | 55 | |
| Total Assets | 614 | 649 | 1,413 | 1,251 | 1,308 | 1,276 | 1,200 | 1,133 | 1,083 | 1,160 | 1,115 | 1,112 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -11 | -16 | -2 | -15 | -19 | 13 | -2 | -13 | -2 | -13 | -5 | 21 | |
| -5 | 7 | -84 | 191 | 104 | 74 | 120 | 128 | 95 | -3 | 122 | 16 | |
| -5 | -6 | 83 | -179 | -86 | -69 | -117 | -117 | -96 | 5 | -105 | -49 | |
| Net Cash Flow | -21 | -16 | -3 | -3 | -1 | 18 | 1 | -2 | -4 | -11 | 13 | -12 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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 | 62 | 2 | 11 | 9 | 113 | 29 | 36 | 119 | 77 | 49 | 45 | |
| Inventory Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 62 | 2 | 11 | 9 | 113 | 29 | 36 | 119 | 77 | 49 | 45 | |
| Working Capital Days | 384 | -162 | -337 | -246 | -18 | -81 | -39 | -12 | -548 | 57 | -420 | |
| ROCE % | 10% | 8% | 6% | 4% | 8% | 5% | 4% | 4% | 4% | 7% | 5% |
Insights
In beta| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Carbon Segment Sales Volume Million Metric Tonnes |
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| Cement Segment Sales Volume Million Metric Tonnes |
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| Cement Capacity Utilization Percentage |
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| CPC Calcination Capacity MTPA |
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| Installed Cement Capacity MTPA |
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| GPC Import Quota for Indian Calciners Million Tonnes |
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Documents
Announcements
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Rain Industries Limited Management Commentary On The Annual Audited Financial Results (Standalone And
Consolidated) For The Financial Year Ended On December 31, 2025
9 Mar - Management commentary and Q&A on FY2025 results; utilization ~70% global, India CPC ~90%, distillation ~70%.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Feb - Rain Industries Limited - News Paper Clippings of Annual Audited Financial Results for the Financial Year ended December 31, 2025
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Rain Industries Limited Earnings Presentation On The Annual Audited Financial Results (Standalone And Consolidated) For The Financial Year Ended On December 31, 2025
27 Feb - Earnings presentation for FY2025: Q4 revenue ₹43.01bn, Adj EBITDA ₹5.76bn, CY’25 capex US$53m, liquidity US$340m.
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Rain Industries Limited - Management Presentation On The Annual Audited Financial Results (Standalone And Consolidated) For The Financial Year Ended On December 31, 2025
27 Feb - Annual audited FY2025 results: Q4 revenue Rs43.01bn, adjusted EBITDA Rs5.76bn; $53m capex, $340m liquidity.
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Rain Industries Limited - Annual Audited Financial Results (Standalone, Consolidated And Segment) Of The Company For The Quarter And Financial Year Ended December 31, 2025
27 Feb - Board approved audited consolidated/standalone FY25 results; consolidated total income INR170,842m; PAT INR1,358.94m; AGM May 12, 2026.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
from nse
Concalls
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Mar 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Nov 2024TranscriptAI SummaryPPT
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Feb 2023TranscriptAI SummaryPPT
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Nov 2022TranscriptAI SummaryPPT
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Jul 2022TranscriptAI SummaryPPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022TranscriptAI SummaryPPT
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Oct 2021TranscriptAI SummaryPPT
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Jul 2021TranscriptAI SummaryPPT
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Apr 2021TranscriptAI SummaryPPT
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Nov 2015TranscriptPPT
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Aug 2015TranscriptPPT
Business Profile
Rain is into transforming by-products of oil and steel industries into high-value carbon-based materials essential to numerous manufacturing applications and end products. [1]