RAIN Industries Limited announced its financial results for the fourth quarter and the full year ending December 31, 2025. Key highlights include Revenue from Operations of ₹43.01 billion for Q4 2025, up 17% year-over-year, and Adjusted EBITDA reaching ₹5.76 billion, a 47% increase compared to Q4 2024. The company maintained strong liquidity of US$ 340 million and emphasized strategic growth in alternative materials for the energy storage market.
Q4 and Full Year 2025 Financial Highlights
RAIN Industries Limited reported its consolidated financial results for the period ending December 31, 2025. The results reflect solid operational performance across its key segments.
Key Q4 2025 Metrics:
- Revenue from Operations: ₹43.01 billion (4% vs Q3′ 25; 17% vs Q4′ 24).
- Adjusted EBITDA: ₹5.76 billion (47% vs Q4′ 24).
- Adjusted Net Profit After Tax: ₹0.51 billion.
- Adjusted Earnings per share: ₹1.52.
- Capital expenditure for CY’ 25 was US$53 million, with US$12 million spent in Q4′ 25.
Liquidity and Debt Position:
- Total Liquidity stood at US$ 340 million, comprising a US$ 170 million Cash balance and US$ 170 million in Undrawn loan facilities.
- Crucially, the company confirmed No major term debt maturities until October 2028.
Segment Performance: Q4 2025 vs Q3 2025
Carbon Segment:
The Carbon segment showed resilience with Revenue at ₹33.0 billion (1% increase vs Q3 25) and Adjusted EBITDA at ₹5.3 billion (1% increase vs Q3 25). The segment benefited from strong calcination demand and appreciation of the Euro and USD against the Indian Rupee, despite continued raw material sourcing competition.
Advanced Materials Segment:
This segment experienced a volume decline (13% vs Q3 25) impacting Revenue (down 18% vs Q3 25) to ₹7.3 billion. Adjusted EBITDA saw a significant drop of 60% vs Q3 25 to ₹0.4 billion, influenced by seasonal softness and higher operating costs in Europe.
Cement Segment:
Cement segment sales volumes were 575k MT (down 5% vs Q3 25). Revenue fell 13% to ₹2.4 billion, with Adjusted EBITDA dropping 64% to ₹0.1 billion, primarily due to extended monsoon impact and market consolidation pressures.
Strategic Focus: Energy Storage Market
RAIN is aggressively pursuing growth in alternative materials for energy storage:
- Entered the North American MCMB market in Q3 2025, expanding the advanced materials portfolio.
- Launched multiple strategic partnerships to accelerate next-generation energy-storage materials.
- Advancing clean, non-China-dependent graphite purification, including recycled battery materials.
- The strategy is focused on sustainability, supply-chain security, and long-term energy-storage growth.
Aluminium Market Context
Primary Aluminium production growth is expected to continue globally, with low inventories supporting prices. The Aluminium 3-month LME price was trading around US$ 3,170 per Ton at the end of February 2026, supported by a strong demand outlook.
Business Outlook
The outlook emphasizes Sustainable performance through developing alternative raw material sources, leveraging proprietary know-how in Research & Development for emerging markets, and actively pursuing Debt Optimisation opportunities based on market conditions.
Consolidated Statement Summary (₹ in Millions)
For the full year CY 2025, Revenue from Operations reached ₹169,458 million, compared to ₹153,744 million in CY 2024. Adjusted EBITDA improved significantly to ₹22,749 million (up from ₹14,981 million in CY 2024), resulting in an Adjusted Profit After Tax of ₹1,178 million.
Source: BSE
