Rain Industries Q1 PAT surges 35% YoY to Rs 277 cr

Rain Industries' consolidated net profit soared to 34.5% to Rs 277.44 crore on a 47.5% increase in net sales to Rs 4,436.54 crore in Q1 CY2022 over Q1 CY2021.

Consolidated profit before tax in Q1 CY22 stood at Rs 490.44 crore, up 56.1% from Rs 314.21 crore in Q1 CY21. Adjusted EBITDA for Q1 March 2022 surged 31.4% to Rs 834.8 crore as against Rs 635.3 crore in Q1 March 2021.Adjusted EBITDA margin fell to 18.8% in Q1 CY22 from 21.1% in Q1 CY21.

On segmental front, revenue from Carbon segment increased by 53.9% in Q1 CY22, as compared to Q1 CY21. Carbon sales volumes during Q1 CY22 were 613 thousand metric tonnes, a decrease of 5.5% as compared to 649 thousand metric tonnes in Q1 CY21, driven by the extended shutdowns due to raw material unavailability.

Revenue from Advanced Materials segment rose by 43.9% during Q1 CY22, as compared to Q1 CY21. The Advanced Materials sales volumes during Q1 CY22 were 83 thousand metric tonnes, an increase of 3.8% as compared to 80 thousand metric tonnes in Q1 CY21. The increase in volumes was primarily driven by higher throughputs, ramp up of the hydrogenated hydrocarbon resins (HHCR) plant and increased demand from refractory and lithium-ion battery producers. The Cement revenue rose by 15.3% during Q1 CY22, as compared to Q1 CY21 on the back of a 5.6% increase in volumes and 9.2% rise in realizations.

On full year basis, the company reported a 3.9% increase in net profit to Rs 580.16 crore on a 38.8% rise in net sales to Rs 14,526.78 crore in FY22 over FY21.

Rain Industries is a vertically integrated global producer of a diversified portfolio of products that are essential raw materials. It operates in three business segments: Carbon, Advanced Materials and Cement.

Shares of Rain Industries were trading 0.34% higher to Rs 176 on BSE.

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