Rain Industries (RAIN) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached ₹44.76 billion, up 2% sequentially and 14% year-over-year, with adjusted EBITDA at ₹6.48 billion, increasing 5% from Q2 and 122% from Q3 2024.

• Net profit after tax rebounded to ₹1,303 million, reversing a loss in the prior year, with adjusted EPS of ₹3.42.

• Major expansion projects in cement and solar power announced, targeting capacity, sustainability, and market share growth.

• Achieved a Total Recordable Incident Rate (TRIR) of 0.09 for the nine months ended September 30, 2025, reflecting improved safety performance.

• Board approved unaudited standalone, consolidated, and segment financial results for Q3 2025, with an unqualified limited review report.

Financial highlights

• Q3 2025 consolidated revenue was ₹44,757 million, up from ₹39,343 million year-over-year.

• Adjusted EBITDA margin improved to 14.5% in Q3 2025 from 7.4% in Q3 2024.

• Net cash inflows from operating activities decreased due to higher working capital requirements.

• Ended the quarter with $388 million in liquidity and no major term debt maturities until October 2028.

• Standalone Q3 revenue was ₹245.61 million; net profit: ₹112.66 million.

Outlook and guidance

• Cement plant expansion to be commissioned in Q4 2027, targeting increased market share in high-growth regions.

• Solar power plant expansion to be completed by February 2026, aiming for reduced energy costs and grid dependency.

• Cautious optimism for 2026, with plans for stepwise recovery, targeted investments, and focus on cost savings and ESG compliance.

• Anticipate recovery in Cement segment volumes post-monsoon and demand boost from GST rate reduction.

• Management remains focused on sustainable growth and capitalizing on infrastructure demand in South India.