Rain Industries (RAIN) Q2 2026 earnings summary

Executive summary

• Achieved a world-class safety record with a TRIR of 0.18 YTD, reflecting strong safety culture and operational discipline.

• Revenue from operations reached INR 51.67 billion in Q2 2026, up 17% year-over-year, with adjusted EBITDA at INR 9.94 billion, a 61% increase from Q2 2025.

• Adjusted profit after tax was INR 3.17 billion, and adjusted EPS stood at INR 9.43 for the quarter.

• Board approved unaudited standalone and consolidated financial results for Q2 and H1 ended June 30, 2026, with auditors issuing an unqualified review report.

• Interim dividend of INR 1.00 per share (50% of face value) declared, record date set for August 14, 2026.

Financial highlights

• Q2 2026 consolidated net revenue was INR 51,671.58 million, up 17% year-over-year, driven by higher sales prices despite lower volumes.

• Adjusted EBITDA reached INR 9.94 billion, a 61% increase year-over-year, supported by favorable inventory pricing and cost management.

• Adjusted PAT rose to INR 3,173 million from INR 495 million in Q2 2025.

• Basic and diluted EPS (consolidated) for Q2 FY26 was INR 8.81, compared to INR 1.80 in Q2 FY25.

• Net debt stood at $892 million, with a net debt to EBITDA ratio of 2.77, reflecting improved leverage.

Outlook and guidance

• Near-term outlook remains cautious due to persistent geopolitical risks, raw material cost pressures, and shipping constraints.

• Focus remains on margin recovery, cost and raw material optimization, and working capital normalization.

• Strategic focus remains on stable margins, cost optimization, cash generation, and lower finance costs.

• Anticipates gradual improvement in cement demand, especially with regional infrastructure projects like Amaravati.

• Management continues to monitor geopolitical risks, supply chain disruptions, and regulatory compliance, especially regarding overseas subsidiaries.