Rain Industries Limited has informed the Exchange about Management Commentary on Un-Audited Financial Results of the Company (Standalone, Consolidated and Segment) for the First Quarter ended March 31, 2026

Rain Industries held its Q1 2026 earnings Q&A session covering Carbon, Advanced Materials, and Cement segments. The Carbon segment is experiencing demand recovery driven primarily by higher utilization rates among existing aluminium customers in India and Europe, rather than structural expansion. Management expects stable volumes for the rest of 2026 with growing aluminium demand globally. The company highlighted its unique positioning to capture North American market share if a competitor exits distillation operations, and noted that geopolitical tensions affecting West Asia have limited impact (~5% CPC exposure) with no material effect on 2026 sales. R&D investments continue in Battery Anode Materials and Energy Storage Materials with a demo plant commissioned in Canada, though commercial revenues are not expected before 2027. The company has reduced gross debt by approximately $200 million through Euro Term Loan and Senior Secured Notes repayments, with ongoing evaluation of refinancing opportunities. Working capital has increased due to higher pricing and SEZ ramp-up, but management views this as normal cyclicality.