As of 6 Nov 2026, Rain Industries trades at 11.4× trailing earnings, below the industry P/E of 22.1×, and the shares are 28% below their 52-week high. Its ROCE of 7.9% is the lowest among the 7 largest Specialty Chemicals peers, and sales and net profit fell 7.0% and 69% a year over 3 years. Its dividend yield is 0.6%, and debt is 1.30× equity. It is a small-cap company with a market cap of ₹6,101 Cr, ranked 32nd of 204 Specialty Chemicals companies by market cap; the shares rose 40% over the past year.
- ₹187.41
- ₹187.41
- ₹174.72
- ₹188.32
- 54.4 L
Health check
- ReturnsAhead
+39.6% over a year, better than 6 of 7 peers.
- Price tagCheaper
P/E 11.4 vs industry 22.1.
- GrowthShrinking
Sales −7.0%, profit −69.1% a year over 3 years.
- ProfitabilityWeak
ROCE 7.9% vs peer median 24.4%.
- Balance sheetStretched
Debt 1.30× equity, interest covered 1.5×, Piotroski 6 of 9.
- Red flags1 to check
Interest coverage of only 2.4×.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹6,101 Cr
- Small cap
- P/E
- 11.4
- Industry 22.1
- Price to book
- 0.76
- Peers 13.33
- Dividend yield
- 0.55%
- ROE
- 8.5%
- Peers 23.0%
- ROCE
- 7.9%
- Peers 24.4%
- Debt to equity
- 1.30
- Debt ₹10,795 Cr
- EPS (TTM)
- ₹15.97
- Face value ₹2
- OPM (TTM)
- 15.1%
- Net margin 2.9%
- Sales growth
- +17.4%
- Latest quarter vs a year ago
- Profit growth
- +388.0%
- Latest quarter vs a year ago
- Price to sales
- 0.33
- EV/EBITDA 6.1
Strengths and risks
Strengths
- Quarterly profit up 388.0% on a year ago.
- Quarterly sales up 17.4% on a year ago.
- P/E of 11.4 against an industry P/E of 22.1.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- Interest coverage of only 2.4×.
About Rain Industries
Rain Industries Limited, together with its subsidiaries, manufactures and sells carbon, advanced materials, and cement products in India and internationally. The company operates through three segments: Carbon, Advanced Materials, and Cement. It offers calcined petroleum coke, coal tar pitch, green petroleum coke, and derivatives of coal tar distillation, including carbon black, creosote, naphthalene, and other aromatic oils, as well as generates…
- Headquarters
- Hyderabad
- Employees
- 2,323
- Sector
- Basic Materials
- ISIN
- INE855B01025
- Website
- rain-industries.com
Price range
- Avg volume (3M)
- 43 L
- 1-year return
- plus 39.6%
- From 52-week high
- minus 28.0%
Peers · Specialty Chemicals
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ASIANPAINTAsian Paints | 2,546.00 | plus 0.88% | 2,44,025 | 50.5 | 35.0 | 24.4% | 18.9% | 0.21 | 1.1% | plus 1.5% |
| SOLARINDSSolar Industries India | 18,608.00 | plus 0.48% | 1,68,384 | 74.4 | 64.1 | 29.5% | 27.8% | 0.22 | 12.4% | plus 35.9% |
| PIDILITINDPidilite Industries | 1,579.00 | plus 1.63% | 1,60,827 | 60.0 | 44.4 | 28.5% | 23.5% | 0.03 | 7.4% | plus 6.8% |
| LINDEINDIALinde India | 6,859.00 | plus 8.73% | 58,496 | 118.4 | 64.2 | 16.3% | 31.5% | 0.23 | – | plus 5.4% |
| BERGEPAINTBerger Paints India | 478.35 | minus 5.28% | 55,776 | 45.4 | 29.4 | 20.6% | 15.3% | 0.15 | 4.2% | minus 6.0% |
| FLUOROCHEMGujarat Fluorochemicals | 4,665.50 | minus 0.94% | 51,251 | 75.9 | 44.0 | 9.6% | 24.1% | 0.26 | −4.5% | plus 28.0% |
| ACUTAASAcutaas Chemicals | 3,786.60 | plus 0.42% | 31,001 | 70.9 | 64.1 | 27.7% | 39.4% | 0.01 | 29.4% | plus 105.6% |
| RAINRain Industries | 181.40 | minus 3.67% | 6,101 | 11.4 | 6.7 | 7.9% | 15.1% | 1.30 | −7.0% | plus 39.6% |
| Median of 7 peers | – | 0.48% | 58,496 | 70.9 | 44.4 | 24.4% | 24.1% | 0.21 | 5.8% | 6.8% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 3,768 | 4,401 | 4,301 | 4,521 | 5,167 | |
| – | – | – | +20.0% | +17.4% | |
| 3,359 | 3,743 | 3,797 | 3,838 | 4,227 | |
| 409 | 658 | 504 | 683 | 940 | |
| 10.9% | 15.0% | 11.7% | 15.1% | 18.2% | |
| −3.4 | −1.6 | 47.4 | 59.7 | 57.3 | |
| 224 | 228 | 232 | 238 | 251 | |
| 207 | 225 | 254 | 249 | 245 | |
| −26 | 204 | 65.6 | 256 | 501 | |
| −343.6% | 59.2% | 42.6% | 38.3% | 31.9% | |
| −138 | 60.7 | 13.5 | 121 | 296 | |
| -4.09 | 1.80 | 0.40 | 3.61 | 8.81 |
Profit & loss
- Sales CAGR 3Y
- −7.0%
- Profit CAGR 3Y
- −69.1%
- EPS CAGR 3Y
- −69.1%
- ROE
- 8.5%
| ₹ Cr | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| 20,906 | 18,052 | 15,267 | 16,791 | |
| – | minus 13.7% | minus 15.4% | +10.0% | |
| 17,263 | 16,964 | 14,008 | 14,642 | |
| 3,643 | 1,088 | 1,259 | 2,149 | |
| 17.4% | 6.0% | 8.2% | 12.8% | |
| −15.3 | 730 | 255 | 48.2 | |
| 479 | 794 | 907 | 885 | |
| 790 | 776 | 807 | 922 | |
| −30.9 | −730 | −25.8 | 44.1 | |
| 2,327 | −482 | −226 | 435 | |
| 32.2% | −65.1% | −99.4% | 68.7% | |
| 1,439 | −938 | −564 | 42.5 | |
| 42.77 | -27.89 | -16.78 | 1.26 |
Forecast
Balance sheet
| ₹ Cr | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| 67.3 | 67.3 | 67.3 | 67.3 | |
| 8,360 | 7,275 | 6,570 | 7,382 | |
| 9,731 | 8,690 | 8,494 | 9,824 | |
| 4,015 | 3,976 | 3,805 | 3,487 | |
| 22,173 | 20,009 | 18,937 | 20,760 | |
| 5,674 | 5,595 | 5,474 | 5,939 | |
| 549 | 510 | 538 | 363 | |
| 4.6 | 3.1 | 9.9 | 7.2 | |
| 1,483 | 2,182 | 1,835 | 1,489 | |
| 14,463 | 11,718 | 11,079 | 12,963 | |
| 22,173 | 20,009 | 18,937 | 20,760 |
Cash flow
| ₹ Cr | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| 1,036 | 3,063 | 1,943 | 897 | |
| −663 | −696 | −212 | −395 | |
| −396 | −2,115 | −1,771 | −1,025 | |
| −22.8 | 253 | −39.5 | −523 | |
| −669 | −596 | −653 | −461 | |
| 367 | 2,468 | 1,290 | 437 | |
| −33.6 | −33.6 | −33.6 | −33.6 |
Shareholding pattern
- Promoters41.35%
- Public58.65%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 41.35% | 58.65% | 0.00 | |
| 30 Jun 2026 | 41.35% | 58.65% | 0.00 | |
| 31 Mar 2026 | 41.35% | 58.65% | plus 0.16 | |
| 31 Dec 2025 | 41.19% | 58.81% | 0.00 | |
| 30 Sep 2025 | 41.19% | 58.81% | – |
Major shareholders
Filings & events
News
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