Rain Industries Limited — Important, 25-02-2025: General Updates

**Financial Highlights:** Rain Industries reported revenue from operations at ₹36.76 billion for Q4 2024, down from ₹41.01 billion in Q4 2023. Adjusted EBITDA improved to ₹3.90 billion, with a margin of 10.6%, reflecting cost-saving measures despite pressures from lower average realizations. However, an adjusted net loss after tax of ₹1.21 billion translates to a loss per share of ₹3.60.

**Strategic Initiatives and Growth Drivers:** The Carbon segment anticipates further improvements in volumes due to increased utilization in Indian facilities. Rain plans to expand alternative raw material sources amid changing market dynamics. Additionally, new R&D strategies are underway for Battery Anode Materials and Energy Storage Materials.

**Business Developments:** The Cement segment is expected to benefit from government investments, which may lead to market consolidation and improved pricing and volume in 2025.

**Market Position and Competitive Advantage:** Rain's diverse product offerings across Carbon, Cement, and Advanced Materials, combined with strong supplier relationships, positions it well against competitors.

**Investor Implications:** The outlook signals positive developments, especially in the Carbon and Cement segments, which could present future growth opportunities, while maintaining a watch on the impact of raw material availability and market fluctuations.