Rain Industries Limited has informed the Exchange about Management Commentary on Un-Audited Financial Results for the Second Quarter ended and Half year ended June 30, 2025.
RAIN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Rain Industries' management addressed investor questions for Q2 FY2025. Capacity utilization stood at ~68% for Carbon, ~63% for Advanced Materials, and ~70% for Cement. CPC prices surged in early 2025 on Chinese GPC supply tightness but fell back by quarter-end, still remaining $100-150/ton above prior levels. The company is actively pursuing a global GPC blending strategy and alternative raw materials (including bio-based) to support margin enhancement and capacity utilization in 2026. The Indian CTP project (50,000 tons) has secured permits with phased rollout and revenue expected from late 2026. CFO disclosed total gross debt of ~$1 billion at ~9% average rate (~$90M annual interest), expecting ~10% debt reduction over the next two quarters as working capital releases, with refinancing options under evaluation. Cement segment divestment was ruled out; expansion is being explored. New Indian emission norms effective December 2025 may force non-compliant competitor calciners to shut.
Shareholders get visibility on near-term debt reduction (~10% over 6 months) and working capital normalization, which should ease interest costs. Margin improvement is expected from alternative raw materials and global blending in 2026, though near-term pressure persists from elevated interest costs, FX (Rupee depreciation), and limited coal tar supply in Europe.