Rain Industries Ltd Share Price – NSE /  BSE

Miscellaneous, Small Cap

Revenue from operations declined 5.43% YoY to Rs 3,934.28 crore in the quarter ended 30 September 2024.

Carbon sales volumes during Q3 CY24 were 653,000 metric tonne, an increase of 19.8% as compared to 545,000 metric tonne in Q3 CY23. The increase in volumes was driven by higher CPC volumes due to higher capacity utilization of Indian CPC plants post the relief granted by Honorable CAQM in February 2024 and implementation of the same during the third quarter.

During Q3 2024, the average blended realisation decreased by 21% on account of lower market quotations across all regions. There was an appreciation of EURO against Indian Rupee by approximately 2.3% and an appreciation of USD against Indian Rupee by approximately 1.3%. Overall, due to the aforesaid reasons, revenue from the carbon segment decreased by approximately 5.4% in Q3 CY24, as compared to Q3 CY23.

Advanced Materials sales volumes during Q3 CY24 were 74,000 metric tonnes, an increase of 8.8% YoY, primarily driven by higher throughput from our HHCR plant supported by the Red Sea crisis and higher demand.

During Q3 2024, average realisations decreased by 9.5% due to fall in commodity prices offset by an appreciation of the Euro against the Indian Rupee by approximately 2.3%. Due to the aforesaid reasons, revenue from the Advanced Materials segment decreased by about 1.5% during Q3 CY24, as compared to Q3 CY23.

Cement segment revenue decreased by 19.2% during Q3 CY24 as compared to Q3 CY23, due to decrease in realisations by 8.8% and decrease in volumes by 11.3% due to extended monsoon in key markets.

During Q3 2024, adjusted EBITDA declined by 22.43% YoY to Rs 291.8 crore and adjusted EBITDA margin contracted to 7.4% in Q3 CY24 from 9% in Q3 CY23.

Finance costs were Rs 234 crore during the quarter as compared to Rs 242 crore in Q3 CY23. The decrease was primarily on account of lower average working capital borrowings partially offset by appreciation of US Dollar and Euro against Indian Rupee compared to Q3 2023.

The company reported pre-tax loss of Rs 107.69 crore in Q3 CY24 as compared with pre-tax loss of Rs 19.54 crore posted in same quarter previous year.

As at September 2024, the company had a gross debt of $867 million (including working capital debt of $102 million), cash and cash equivalents of $241 million (including restricted cash), deferred finance cost of $17 million and net debt of $711 million.

Rain Industries is a holding company with subsidiaries engaged in the manufacturing of cement, CPC, coal tar pitch and downstream products, including resins, modifiers and superplasticisers.

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Net Loss of Rain Industries reported to Rs 179.11 crore in the quarter ended September 2024 as against net loss of Rs 90.17 crore during the previous quarter ended September 2023. Sales declined 5.43% to Rs 3934.28 crore in the quarter ended September 2024 as against Rs 4160.26 crore during the previous quarter ended September 2023.

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Under the terms of the JDA, Northern and the company will jointly develop and commercialize natural graphite BAM products designed to extend cycle life, enhance charging speed and reduce electrode swelling in lithium-ion battery cells. This innovation addresses the stability gap between natural and synthetic graphite, enabling increased use of natural graphite in electric vehicle (EV) battery cells.

The JDA follows the launch of Northern’s Battery Materials Group (NGCBM) in February and RAIN’s announcement of its new technology Innovation center for energy storage materials (Innovation Center) in August.

NGCBM included the acquisition of a fully equipped, state-of-the-art carbon and battery laboratory in Frankfurt, Germany capable of both producing BAM derived from the Northern’s Lac-des-Îles graphite mine in Canada and of building lithium-ion batteries according to the specifications of automakers seeking critical characteristics, ranging from cycle life and driving range to charging speed.

The company's innovation center in hamilton, Canada allows product and application development activities of batterygrade carbon and carbon precursor products in a 30,000 sq. ft. development facility including demonstration plants for the pilot-scale processing of carbon and carbon precursor materials along with laboratories dedicated to the carbon material analysis with state-of-the-art powder and electrochemical testing equipment.

Hugues Jacquemin , chief executive officer, Northern Graphite, said, This exclusive JDA is a significant milestone for our companies and the industry, as it enables increased use of natural graphite in battery anode materials by lowering costs and addressing the environmental concerns linked to synthetic graphite while enhancing key performance metrics such as cycle life, charging speed and stability.”

“By leveraging Northern’s expertise in mining, milling, shaping and purifying natural graphite alongside RAIN’s advanced coating capabilities, we are positioned to produce the lower-cost, higher-quality BAM which battery manufacturers and consumers are demanding.”

Gerard Sweeney , president, Rain Industries, said, We are delighted to partner with Northern in this development collaboration, which will allow us to expand and tailor our existing portfolio of LIONCOAT battery-grade carbon precursors, while also advancing new, efficient and sustainable coating technologies through our Innovation Center in Hamilton, Canada,

Rain Industries is one of the world leading producers of calcined petroleum coke , coal tar pitch and other high quality basic and specialty chemical.

The company reported net loss of Rs 44.86 crore in Q1 FY25 as compared with net profit of Rs 206.54 crore in Q1 FY24. Revenue from operations declined 11.52% YoY to Rs 4,094.14 crore during the quarter.

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Rain Industries will hold a meeting of the Board of Directors of the Company on 6 November 2024.

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