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.
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Rain Industries reported strong Q1 2026 results with revenue from operations at ₹45.21 billion, up 20% year-on-year, driven by higher volumes and prices across Carbon and Advanced Materials segments. Adjusted EBITDA surged 65% to ₹7.15 billion with margin expanding to 15.8% from 11.5% in Q1 2025, aided by price increases matching cost pressures and cost savings initiatives implemented in 2025. Adjusted net profit turned positive at ₹1.25 billion versus a loss in the year-ago period. The Cement segment underperformed due to increased competition and higher operating costs. The balance sheet remains robust with net debt to EBITDA improving to 2.85x (from 3.21x in Dec 2025), liquidity of US$ 362 million, and no major debt maturities until October 2028. Management highlighted ongoing debt optimisation efforts and developing alternative raw material sources to mitigate Middle East supply disruptions.
The strong beat on profitability with margin expansion signals operational leverage is working, and the improved leverage ratio reduces financial risk. The company's focus on debt optimisation and no near-term refinancing risks should be well received by bond and equity investors.