Rain Industries (RAIN) Q2 2025 earnings summary

Executive summary

• Achieved a total recordable incident rate (TRIR) of 0.03 in H1 2025, reflecting strong safety culture and operational discipline.

• Revenue from operations reached INR 44.01 billion in Q2 2025, up 17% sequentially and 8% year-over-year, with adjusted EBITDA of INR 6.17 billion, a 42% increase from Q1 2025.

• Returned to profitability in Q2 2025 with net profit after tax of INR 0.5 billion and EPS of INR 1.47, reversing previous challenging quarters.

• Maintained strong liquidity of $339 million, with no term debt maturities until October 2028.

• Strategic focus on operational efficiencies, cost management, and long-term growth initiatives in advanced materials and sustainability.

Financial highlights

• Q2 2025 consolidated revenue was INR 44,013.83 million, up from INR 40,941.49 million in Q2 2024.

• Adjusted EBITDA for Q2 2025 was INR 6.17 billion, up INR 1.27 billion from Q2 2024.

• Consolidated net profit for Q2 2025 was INR 829.95 million, compared to a net loss of INR 1,151.04 million in Q2 2024.

• Carbon segment revenue rose to INR 34,107.84 million, Advanced Materials to INR 9,485.82 million, and Cement to INR 3,259.71 million in Q2 2025.

• Earnings per share (consolidated) for Q2 2025 was INR 1.80, compared to a loss per share of INR 4.09 in Q2 2024.

Outlook and guidance

• H1 2025 results aligned with budget expectations, supporting confidence for H2 2025.

• Focus remains on restoring normalized operating margins and sustaining earnings improvement through 2025.

• Cautious optimism persists amid ongoing geopolitical, inflationary, and macroeconomic headwinds.

• Continued investment in R&D and advanced materials to capture future growth in battery and sustainable technologies.

• Management continues to monitor geopolitical risks, especially regarding Russian subsidiaries, but does not foresee significant impact on group results.