NSE: RAIN · BSE: 500339 · ISIN INE855B01025
Rain Industries Limited stock analysis
Rain Industries Limited ranks #3462 in the TickerSutra evidence-ranked universe with a score of 40/100 and 95% data confidence. The latest captured fundamentals show ROCE of 8.3%, quarterly sales growth of 17.4% and quarterly profit growth of 388.0%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Debt/equity is above 0.5×
- CFO/EBITDA is below 0.6×
- Extreme base-effect growth requires manual validation
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2021 | ₹14,527cr | ₹2,360cr | ₹694cr | 16.0% |
| 2022 | ₹21,011cr | ₹3,537cr | ₹1,577cr | 17.0% |
| 2023 | ₹18,141cr | ₹933cr | ₹-796cr | 5.0% |
| 2024 | ₹15,374cr | ₹1,274cr | ₹-450cr | 8.0% |
| 2025 | ₹16,946cr | ₹2,137cr | ₹136cr | 13.0% |
| TTM | ₹18,464cr | ₹2,788cr | ₹667cr | 15.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
69% Capacity utilisation Financial The segment demonstrated resilience amid market volatility, with EBITDA growth in the initial part of the year supported by higher CPC volumes following the easing of import restrictions and strong calcination margins. This momentum was partly offset by margin compression in the distillation business due to softer CTP prices and elevated raw material costs, while geopolitical disrup
However, regional overcapacity in the South and East has intensified pricing pressure, while extended monsoons and higher imported pet coke costs (up over 20%), combined with a 6% rupee depreciation, weighed on margins. Our response We are prioritising operational efficiency and cost optimisation to navigate moderate capacity utilisation and pricing pressures, while maintaining disciplined supply deployment across ke
There was an appreciation of the Euro against the Indian Rupee by 9% and an appreciation of US Dollar against the Indian Rupee by 4%. The EBITDA for CY 2025 increased by ₹ 7,641 million compared to PY 2024, driven by margin improvement on account of better realisations coupled with the appreciation of the US Dollar and Euro against the Indian Rupee. Post the two prolonged periods of 2023 ad 2024, with market improvem
At the same time, we remain positioned to benefit from improving demand conditions through pricing discipline, network optimisation, and calibrated capacity scaling aligned with the industry upcycle. Key developments of 2025 During 2025, we received necessary permissions to initiate a brownfield expansion at our Cement segment's site in Suryapet, India at a strategic time in the near future. The project will increase
Contracting strategies were calibrated to safeguard spreads, and procurement actions reduced exposure to raw material volatility." Executing with discipline Rain Industries Limited 51st Integrated Annual Report 2025 26 27 Insights from the Managing Director OUR PERFORMANCE Balance sheet was further strengthened through steady cash generation, judicious capital deployment and proactive debt management. With no near-te
In 2026, we are advancing in the next-generation energy storage research at our North American demonstration facility while leveraging proprietary distillation and calcination capabilities to support entry into Battery Anode Material (BAM) markets. Our focus will also include developing and integrating alternative raw materials to strengthen feedstock security and expand specialty product applications, supporting lon
Consequently, the earnings per share was ₹ 3.50 in CY 2025 as against loss per share of ₹ 13.14 in PY 2024. Post the weaker performance of two consecutive years of 2023 and 2024, our performance improved during 2025 and we are confident in achieving normalised margins going forward. We also worked during the last few years on optimising the operational costs which helped with overall recoverability.
• Realising lower operational expenses by significantly enhancing energy efficiency through systematic process optimisation. • Securing measurable reductions in transportation costs by optimising logistics planning and network execution.Progress during 2025 • Resumed global CPC blending after regulatory easing in India, enabling the blending of imported CPC with domestically produced material to meet customer specifi
During CY 2025, this segment generated ₹ 11,305 million in net revenue, a decrease of 8% compared to PY 2024. The decrease is primarily due to decrease in volumes of approximately 10% in CY 2025 compared to PY 2024 offset with increase in price realisations by 2%. The Cement segment operated at an average capacity utilisation of approximately 64% during CY 2025 compared to approximately 71% in PY 2024.
1 https://www.technavio.com/report/green-petroleum-coke-and-calcined-petroleum-coke-market 2 https://www.mordorintelligence.com/industry-reports/coal-tar-pitch-market Key developments of 2025 Strategic focus areas for 2026 Our priorities for 2026 centre on margin stabilisation through sustained cost optimisation and expanded sourcing of diverse GPC grades supported by improved logistics solutions. We are advancing po
• Fugitive emissions are excluded for Cherepovets, Castrop, Duisburg, Hamilton, Kedzierzyn-Kozle, Chalmette, Gramercy, Norco, Lake Charles, Purvis, Robinson. • Following disclosures are excluded for the international operations except for the Indian operations: o Openness of business (concentration of transactions and related party exposures), o Gender wage disclosure (percentage of wages paid to female employees), a
Facility of joining the AGM through VC/OAVM shall be available for 2000 members on first come first served basis. However, the participation of members holding 2% or more shares, promoters, Institutional Investors, directors, key managerial personnel, chairpersons of Audit Committee, Stakeholders Relationship Committee, Nomination and Remuneration Committee and Auditors are not restricted on first come first serve ba
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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