Rain Industries Ltd

Q2 2026 results snapshot

• Carbon segment volumes down ~10% YoY; utilisation at 69%.
• Deferred shipments about 10,000–15,000 tonnes; quarter impact offset by other products.
• Q2 benefited from mix and market conditions; not a single driver.

Market outlook

• Aluminium market expected to stay reasonably supported; China 45 Mt cap cited.
• Rain pricing driven by local supply-demand, raw materials, and logistics.

Capex expansion in India

• India CTP capacity expansion progressing; first-phase distillation unit planned to start early 2028.

Debt, refinancing and leverage

• Second lien notes yield below coupon; refinancing considered if economically attractive.
• Target net-debt-to-EBITDA around 3x over time; deleveraging via working capital.

Working capital and cash flow

• Working capital rose due to safety stock for Indian calciners; unwind as supply chains normalise.

Advanced Materials progress

• Adv Materials growth aided by greener materials; partnership on mesophase carbon micro-beads.

Meeting Details

• Board meeting scheduled August 6, 2026; time and venue not disclosed.

Key Agenda Items

• Approve unaudited standalone, consolidated and segment results for Q2 and H1 2026.
• Declare interim dividend on equity shares for the year ending December 31, 2026.

Other Notes

• No other material items disclosed in this filing.

Dematerialisation status

• Dematerialisation requests processed (accepted/rejected) and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges.
• Physical certificates for dematerialisation mutilated and cancelled after verification; depository name substituted within 30 days.