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 ₹ 7,340 Cr.
- Current Price ₹ 218
- High / Low ₹ 252 / 99.8
- Stock P/E 515
- Book Value ₹ 26.9
- Dividend Yield 0.46 %
- ROCE 2.31 %
- ROE 1.03 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 169%
Cons
- Stock is trading at 8.10 times its book value
- Company has low interest coverage ratio.
- Tax rate seems low
- Company has a low return on equity of 3.68% over last 3 years.
- Earnings include an other income of Rs.13.0 Cr.
- Company's cost of borrowing seems high
* 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.
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | 86 | 45 | 60 | 105 | 64 | 48 | 54 | 54 | 124 | 141 | 131 | 137 | |
| 12 | 91 | 48 | 62 | 112 | 67 | 50 | 56 | 63 | 127 | 142 | 118 | 120 | |
| Operating Profit | -4 | -4 | -3 | -3 | -6 | -3 | -3 | -2 | -9 | -3 | -1 | 12 | 17 |
| OPM % | -58% | -5% | -7% | -4.2% | -6% | -4.8% | -5% | -4.3% | -17% | -2.4% | -0.4% | 9% | 12% |
| 61 | 56 | 68 | 59 | 104 | 61 | 50 | 50 | 50 | 79 | 64 | 13 | 13 | |
| Interest | 22 | 24 | 29 | 18 | 20 | 19 | 12 | 8 | 8 | 16 | 19 | 16 | 15 |
| Depreciation | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 34 | 27 | 35 | 39 | 77 | 39 | 35 | 39 | 32 | 60 | 44 | 9 | 14 |
| 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 | 14 | |
| 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 | 0.43 |
| Dividend Payout % | 137% | 129% | 102% | 210% | 56% | 95% | 123% | 108% | 121% | 63% | 86% | 356% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 22% |
| 3 Years: | 34% |
| TTM: | -6% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -10% |
| 5 Years: | -19% |
| 3 Years: | -30% |
| TTM: | -67% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | -1% |
| 3 Years: | 10% |
| 1 Year: | 61% |
| Return on Equity | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | 4% |
| 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 | Dec 2025 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 252 | 245 | 857 | 855 | 849 | 850 | 844 | 842 | 836 | 855 | 861 | 837 | 839 |
| 279 | 329 | 473 | 318 | 348 | 338 | 277 | 202 | 166 | 220 | 170 | 170 | 26 | |
| 16 | 8 | 15 | 11 | 45 | 20 | 11 | 22 | 15 | 18 | 17 | 18 | 162 | |
| Total Liabilities | 614 | 649 | 1,413 | 1,251 | 1,308 | 1,276 | 1,200 | 1,133 | 1,083 | 1,160 | 1,115 | 1,091 | 1,093 |
| 10 | 9 | 8 | 7 | 8 | 7 | 7 | 7 | 7 | 8 | 7 | 7 | 7 | |
| CWIP | 0 | 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 | 1,050 |
| 300 | 335 | 488 | 327 | 383 | 352 | 276 | 208 | 127 | 154 | 58 | 35 | 37 | |
| Total Assets | 614 | 649 | 1,413 | 1,251 | 1,308 | 1,276 | 1,200 | 1,133 | 1,083 | 1,160 | 1,115 | 1,091 | 1,093 |
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 |
| Free Cash Flow | -12 | -16 | -3 | -16 | -20 | 13 | -3 | -14 | -2 | -14 | -5 | 21 |
| CFO/OP | 9% | 73% | -80% | 236% | 42% | 108% | -66% | 386% | 25% | 79% | -535% | 160% |
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 | 37 |
| Inventory Days | 0 | 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 | 37 |
| Working Capital Days | 384 | -162 | -337 | -246 | -18 | -81 | -39 | -12 | -548 | 57 | -420 | -70 |
| ROCE % | 10% | 8% | 6% | 4% | 8% | 5% | 4% | 4% | 4% | 7% | 6% | 2% |
Insights
In beta| Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cement segment sales volumes Thousand Metric Tonnes (TMT) |
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| Carbon segment sales volumes Thousand Metric Tonnes (TMT) |
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| Advanced Materials segment sales volumes Thousand Metric Tonnes (TMT) |
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| GPC allocation to India DTA unit (key raw material input constraint) Metric Tonnes |
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| Cement segment capacity utilization % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Rain Carbon and BioBTX announce collaboration for renewable aromatic products; BioBTX plant expected operational in early 2028.
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Announcement under Regulation 30 (LODR)-Credit Rating
- India Ratings affirms Rain Industries' IND A rating with Stable outlook; no change from previous year.
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot
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Rain Industries Limited Has informed About Management Commentary On Un-Audited Financial Results Of The Company (Standalone Consolidated And Segment) For The Second Quarter Ended June 30 2026
- Rain Industries shared Q2 FY2026 commentary; India CTP expansion first phase may start in early 2028.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Rain Industries Limited - News paper publication of Postal Ballot Notice
Annual reports
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Annual Report 2011
from bse
Concalls
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Aug 2026Transcript PPT
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May 2026Transcript REC
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Mar 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT
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Nov 2024PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript
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Feb 2024Transcript PPT
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Nov 2023Transcript
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Nov 2023Transcript PPT
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Sep 2023Transcript
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023PPT
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Nov 2022PPT
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Jul 2022PPT
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May 2022PPT
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Feb 2022PPT
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Oct 2021PPT
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Jul 2021PPT
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Apr 2021PPT
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Mar 2021Transcript PPT
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Nov 2020Transcript PPT
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Aug 2020Transcript PPT
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Jun 2020Transcript PPT
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Mar 2020Transcript PPT
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Nov 2019Transcript PPT
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Aug 2019Transcript PPT
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May 2019Transcript PPT
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May 2019Transcript PPT
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Mar 2019Transcript PPT
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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May 2018Transcript PPT
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Mar 2018Transcript
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Nov 2017Transcript PPT
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Aug 2017Transcript PPT
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Nov 2016Transcript
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Aug 2016Transcript
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May 2016Transcript
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Mar 2016Transcript PPT
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Nov 2015Transcript
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Aug 2015Transcript
Business Segments Q1 CY26[1]
1) Carbon (75%):[2] [3]
The carbon segment converts byproducts from oil refining and steel production into high-value, carbon-based products like Calcined Petroleum Coke (CPC), Coal Tar Pitch (CTP), and Other Carbon Products (OCP), which are then used to manufacture aluminium, graphite electrodes, carbon black and titanium dioxide. It is the world's largest producer of CTP and the second-largest manufacturer of CPC.