Rain Industries
- P/E
- 11.52
Key Fundamentals
MicrocapChemicals & PetrochemicalsChemicalsPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 8.26%
- Debt to Equity
- 1.35
- EPS (TTM)
- ₹15.97
- Book Value
- ₹237.69
- Market Cap
- —
- P/E (TTM)
- 11.52
- P/B
- 0.77
- ROE
- 0.60%
- Dividend Yield
- 0.55%
- EBITDA
- ₹2,276 Cr
- 52W High
- ₹252.00
- 52W Low
- ₹99.90
- Day Range
- ₹177.01 – ₹185.00
- Volume
- 45,44,801
Peer Comparison
Commodities › Chemicals › Petrochemicals
| ₹695.70 | 27.10 | ₹13,137 Cr | 5.12 | 0.36% | 14.10% | 18.80% | ₹5,645 Cr | ₹482 Cr | |
| ₹244.59 | — | ₹7,604 Cr | 1.07 | 0.06% | −4.50% | −0.58% | ₹4,172 Cr | ₹208 Cr | |
| Rain Industries (this company) | ₹183.97 | 11.52 | ₹6,028 Cr | 0.77 | 0.55% | 0.60% | 8.26% | ₹18,464 Cr | ₹667 Cr |
| ₹110.26 | 13.71 | ₹2,612 Cr | 2.36 | 1.89% | 17.30% | 23.80% | ₹1,440 Cr | ₹200 Cr | |
| ₹46.31 | 19.14 | ₹1,330 Cr | 1.22 | 0.66% | 4.74% | 9.89% | ₹2,210 Cr | ₹72 Cr | |
| ₹72.96 | 6.97 | ₹1,221 Cr | 0.98 | 0.71% | 4.38% | 7.25% | ₹1,062 Cr | ₹179 Cr | |
| ₹119.77 | 7.57 | ₹1,091 Cr | 0.94 | 1.26% | 9.20% | 10.90% | ₹1,783 Cr | ₹142 Cr | |
| Median 7 companies | ₹119.77 | 12.62 | ₹2,612 Cr | 1.07 | 0.66% | 4.74% | 9.89% | ₹2,210 Cr | ₹200 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 40
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 81
- Strong
- Cheap vs sector & own history 24% weight
- Growth
- 58
- Good
- Sales & profit trajectory 9% weight
- Financial Health
- 17
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 71
- Strong
- Trend strength, vol-adjusted 12% weight
- Ownership
- 25
- Poor
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Stock is trading at 0.91 times its book value
- Company has been maintaining a healthy dividend payout of 23.2%
Weaknesses
2- The company has delivered a poor sales growth of 10.1% over past five years.
- Company has a low return on equity of -6.68% over last 3 years.
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 11 | 4 | 4 |
| Oscillators | Bullish | 2 | 4 | 3 |
| Moving Averages | Strong Bearish | 9 | 0 | 1 |
Oscillators
Bullish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 36.32
- Neutral
- MACD (12,26,9)
- −6.54
- Bearish
- SMA (50)
- 209.73
- Bearish
- SMA (200)
- 176.42
- Bullish
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Dec 2025; 1Y: fiscal year to Dec 2025 against Dec 2024; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +5.20% |
|---|---|
| 5Y | +10.12% |
| 3Y | −6.92% |
| 1Y | +10.23% |
| TTM | +17.02% |
Net profit
| 10Y | −7.67% |
|---|---|
| 5Y | −25.38% |
| 3Y | −55.82% |
| 1Y | Turned to profit |
| TTM | Turned to profit |
Operating cash flow
| 10Y | −3.17% |
|---|---|
| 5Y | −13.22% |
| 3Y | −4.69% |
| 1Y | −53.83% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −0.63 pp |
|---|---|
| 5Y | −3.41 pp |
| 3Y | −4.22 pp |
| 1Y | +4.32 pp |
| TTM | +5.14 pp |
Revenue by year
| Dec 2016 | ₹9,258 Cr |
|---|---|
| Dec 2017 | ₹11,303 Cr |
| Dec 2018 | ₹14,049 Cr |
| Dec 2019 | ₹12,361 Cr |
| Dec 2020 | ₹10,465 Cr |
| Dec 2021 | ₹14,527 Cr |
| Dec 2022 | ₹21,011 Cr |
| Dec 2023 | ₹18,141 Cr |
| Dec 2024 | ₹15,374 Cr |
| Dec 2025 | ₹16,946 Cr |
Net profit by year
| Dec 2016 | ₹301 Cr |
|---|---|
| Dec 2017 | ₹792 Cr |
| Dec 2018 | ₹631 Cr |
| Dec 2019 | ₹462 Cr |
| Dec 2020 | ₹588 Cr |
| Dec 2021 | ₹694 Cr |
| Dec 2022 | ₹1,577 Cr |
| Dec 2023 | −₹796 Cr |
| Dec 2024 | −₹450 Cr |
| Dec 2025 | ₹136 Cr |
AI Analysis — Bull vs Bear
Rain Industries trades at a market cap of ₹7,544 Cr with a P/E of 18.2x and P/B of 1.0x. The company reported consolidated revenue of ₹153.74 billion for CY2024 (down from ₹181.41 billion in CY2023) and posted an adjusted net loss of ₹4.42 billion for the full year, though Q1 2025 showed sequential improvement with EBITDA rising to ₹4.34 billion from ₹3.26 billion in Q1 2024. High leverage (debt-to-equity ~1.28x, total debt/EBITDA ~7x) and a negative 3-year ROE of -7% weigh against the stock's low book-value multiple and recent TTM profit recovery of 154%.
- Stock trades at 1.0x book value, offering deep value relative to historical averages and sector peers
- TTM compounded profit growth of 154% signals a sharp earnings recovery from the CY2023 trough
- Q1 2025 adjusted EBITDA improved 33% YoY to ₹4.34 billion vs ₹3.26 billion in Q1 2024, showing operating momentum
- 1-year stock CAGR of 41% reflects market recognition of the cyclical upturn in carbon products
- TTM revenue growth of 14% marks a return to top-line expansion after 3-year sales CAGR of -7%
- Company maintains a healthy dividend payout ratio of 23.2%, providing some income cushion at 0.45% yield
- 10-year stock CAGR of 20% and 10-year sales CAGR of 5% demonstrate long-term compounding ability through cycles
- Debt-to-equity ratio of approximately 1.28x and total debt/EBITDA of ~7x indicate significant financial leverage risk
- 3-year average ROE of -7% and last-year ROE of just 1% show persistently poor capital efficiency
- Low interest coverage ratio puts the company at risk if rates stay elevated or EBITDA disappoints
- Consolidated revenue fell 15% from ₹181.41 billion (CY2023) to ₹153.74 billion (CY2024), indicating demand/pricing weakness
- 5-year compounded profit CAGR of -40% highlights structural earnings deterioration over a medium-term horizon
- 5-year sales growth of only 10.1% (roughly 2% annualised) is well below cost-of-capital requirements
- CY2024 full-year adjusted net loss of ₹4.42 billion (adjusted loss per share ₹13.14) shows the company was unprofitable on a reported basis
- Q1 2025 still posted an adjusted net loss of ₹0.98 billion despite EBITDA improvement, reflecting heavy interest and depreciation burden
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: Rain Industries delivered a strong Q1 2026 turnaround with a return to profitability, significant revenue growth, and near-doubling of EBITDA. Shareholder governance appears smooth with all AGM resolutions passed unanimously. No visible headwinds in the latest news flow. The improving margin trajectory and profit recovery suggest positive momentum heading into the rest of FY26, though commodity cyclicality remains an inherent risk to watch.
- Q1 profit swing, EBITDA up 82% May 11
Rain Industries swung to net profit of ₹1.2B in Q1 2026 vs a loss of ₹1.4B YoY. Revenue rose 20% to ₹45.2B and EBITDA jumped to ₹6.9B from ₹3.8B, with margin expanding to 15.41% from 10.10%.
- AGM clears dividend, all resolutions passed May 12
51st AGM held on May 12, 2026 passed all four ordinary resolutions including adoption of financials and an interim dividend of Rs. 1 per share.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,627 | 4,160 | 4,101 | 3,670 | 4,094 | 3,934 | 3,676 | 3,768 | 4,401 | 4,476 | 4,301 | 4,521 | 5,167 |
| Expenses | 3,982 | 3,794 | 4,712 | 3,328 | 3,725 | 3,718 | 3,330 | 3,388 | 3,772 | 3,849 | 3,800 | 3,824 | 4,203 |
| Operating Profit | 645 | 366 | −612 | 342 | 369 | 216 | 346 | 380 | 629 | 627 | 501 | 697 | 964 |
| OPM % | 14% | 9% | −15% | 9% | 9% | 6% | 9% | 10% | 14% | 14% | 12% | 15% | 19% |
| Other Income | 33 | 49 | 71.91 | 54 | 59 | 99 | 34.34 | 25 | 28 | 35.02 | 51 | 46 | 33 |
| Interest | 169 | 242 | 245 | 235 | 245 | 234 | 227 | 224 | 228 | 237 | 232 | 238 | 251 |
| Depreciation | 196 | 193 | 195 | 195 | 186 | 189 | 237 | 207 | 225 | 236 | 254 | 249 | 245 |
| PBT | 313 | −20 | −981 | −34 | −2 | −108 | −82 | −26 | 204 | 191 | 66 | 256 | 501 |
| Tax % | 34% | 237% | 10% | 244% | 1912% | 44% | 63% | 344% | 59% | 32% | 43% | 38% | 32% |
| Net Profit | 207 | −66 | −1,079 | −116 | −45 | −155 | −134 | −115 | 83 | 130 | 38 | 158 | 341 |
| EPS (₹) | 4.92 | −2.68 | −33.26 | −4.34 | −2.32 | −5.33 | −4.8 | −4.09 | 1.8 | 3.15 | 0.4 | 3.61 | 8.81 |
Profit & Loss
₹ Cr| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11,921 | 10,205 | 9,258 | 11,303 | 14,049 | 12,361 | 10,465 | 14,527 | 21,011 | 18,141 | 15,374 | 16,946 | 18,464 |
| Expenses | 10,716 | 8,854 | 7,727 | 9,030 | 12,083 | 10,880 | 8,787 | 12,166 | 17,474 | 17,208 | 14,100 | 14,809 | 15,676 |
| Operating Profit | 1,205 | 1,351 | 1,531 | 2,273 | 1,966 | 1,481 | 1,677 | 2,360 | 3,537 | 933 | 1,274 | 2,137 | 2,788 |
| OPM % | 10% | 13% | 17% | 20% | 14% | 12% | 16% | 16% | 17% | 5% | 8% | 13% | 15% |
| Other Income | −180 | 72 | 99 | −68 | 42 | 156 | 456 | 193 | 105 | 180 | 248 | 138 | 167 |
| Interest | 620 | 596 | 631 | 595 | 457 | 452 | 491 | 479 | 524 | 819 | 941 | 922 | 959 |
| Depreciation | 347 | 328 | 519 | 526 | 555 | 594 | 792 | 798 | 790 | 776 | 807 | 922 | 983 |
| PBT | 58 | 498 | 480 | 1,084 | 996 | 591 | 851 | 1,276 | 2,327 | −482 | −226 | 432 | 1,014 |
| Tax % | −21% | 39% | 37% | 27% | 37% | 22% | 31% | 46% | 32% | 65% | 99% | 69% | — |
| Net Profit | 70 | 302 | 301 | 792 | 631 | 462 | 588 | 694 | 1,577 | −796 | −450 | 136 | 667 |
| EPS (₹) | 2.63 | 9.61 | 8.65 | 22.7 | 17.29 | 11.64 | 16.6 | 17.25 | 42.77 | −27.89 | −16.78 | 1.26 | 15.97 |
| Div. Payout % | 38% | 10% | 12% | 9% | 6% | 9% | 6% | 6% | 2% | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | Not meaningful for this period: the ratio divides by a base close to zero, so it is left blank rather than shown as a very large number. | 79% | — |
Balance Sheet
₹ Cr| Particulars | 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 | 2,879 | 2,870 | 3,098 | 3,877 | 4,555 | 4,893 | 5,466 | 6,042 | 8,360 | 7,275 | 6,570 | 7,382 | 7,927 |
| Borrowings | 7,673 | 7,596 | 7,326 | 7,332 | 7,779 | 7,845 | 8,859 | 8,489 | 9,731 | 8,690 | 8,494 | 9,824 | 10,795 |
| Other Liabilities | 2,734 | 2,511 | 2,354 | 3,100 | 3,297 | 3,193 | 3,471 | 3,864 | 3,787 | 3,954 | 3,803 | 3,486 | 3,976 |
| Total Liabilities | 13,352 | 13,044 | 12,845 | 14,376 | 15,699 | 15,998 | 17,863 | 18,463 | 21,945 | 19,987 | 18,935 | 20,759 | 22,765 |
| Fixed Assets | 8,712 | 8,540 | 8,923 | 8,690 | 9,261 | 9,492 | 11,124 | 10,939 | 11,977 | 11,357 | 11,184 | 12,543 | 12,630 |
| CWIP | 269 | 411 | 226 | 441 | 795 | 1,362 | 931 | 791 | 467 | 432 | 473 | 336 | 389 |
| Investments | 26 | 19 | 32 | 35 | 13 | 39 | 15 | 13 | 14 | 17 | 26 | 29 | 30 |
| Other Assets | 4,345 | 4,074 | 3,664 | 5,211 | 5,631 | 5,105 | 5,793 | 6,719 | 9,487 | 8,181 | 7,252 | 7,852 | 9,716 |
| Total Assets | 13,352 | 13,044 | 12,845 | 14,376 | 15,699 | 15,998 | 17,863 | 18,463 | 21,945 | 19,987 | 18,935 | 20,759 | 22,765 |
Cash Flow
₹ Cr| Particulars | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 1,291 | 1,238 | 1,567 | 868 | 1,706 | 2,240 | 1,823 | 834 | 1,036 | 3,063 | 1,943 | 897 |
| Investing | −382 | −531 | −504 | −539 | −1,038 | −1,265 | −798 | −510 | −576 | −711 | −257 | −267 |
| Financing | −883 | −795 | −887 | −520 | −619 | −653 | −600 | −740 | −396 | −2,115 | −1,771 | −1,025 |
| Net Cash Flow | 26 | −88 | 176 | −192 | 49 | 322 | 425 | −417 | 65 | 237 | −84 | −395 |
| Free Cash Flow | 897 | 745 | 1,087 | 428 | 552 | 1,048 | 763 | 327 | 369 | 2,470 | 1,294 | 441 |
| CFO/EBITDA | 121 | 103 | 122 | 56 | 109 | 171 | 123 | 52 | 45 | 365 | 172 | 54 |
Ratios
| Particulars | 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 | 42 | 43 | 41 | 54 | 42 | 33 | 38 | 43 | 43 | 44 | 41 | 44 |
| Inventory Days | 81 | 112 | 105 | 134 | 112 | 95 | 118 | 124 | 146 | 104 | 126 | 137 |
| Days Payable | 53 | 71 | 63 | 77 | 63 | 43 | 62 | 69 | 50 | 44 | 63 | 47 |
| Cash Conversion Cycle | 70 | 84 | 83 | 111 | 90 | 84 | 95 | 98 | 139 | 104 | 104 | 134 |
| Working Capital Days | 32 | 35 | 29 | −49 | 46 | 29 | 21 | 54 | 64 | 53 | 27 | 45 |
| ROCE % | 8% | 10% | 11% | 17% | 12% | 8% | 10% | 12% | 17% | 2% | 4% | 8% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Rain Industries insights
64 extracted metrics across FY10–FY26.
Documents
- Concall · Aug 2026Transcript PPT
- Concall · May 2026Transcript PPT
- Concall · May 2026Transcript Recording
- Concall · Mar 2026Transcript PPT
- Concall · Feb 2026PPT
- 16 Sep 2026
- 26 Apr 2024
- 27 Jan 2023
- 28 Oct 2021
- 31 Aug 2020
- General announcements 6 Oct 2026
- General announcements 24 Sep 2026
Frequently Asked Questions about Rain Industries
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Company Information
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.
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