News ArticleRain Industries Posts 23% Revenue Increase and 77% Profit Growth in Q3 2026 Despite Operating Headwinds
Company reports 54.86 billion INR revenue and 2.04 billion INR adjusted profit after tax amid persisting Middle East conflict and European logistical disruptions
Rain Industries Limited posted a 23% rise in quarterly revenue to 54.86 billion INR and a 77% increase in adjusted profit after tax to 2.04 billion INR for Q3 2026 amid challenging geopolitical and logistical conditions. The company’s adjusted EBITDA grew 32% year-on-year to 8.57 billion INR, driven by effective cost control and flexible operations despite lower sales volumes.
Rain Industries Limited
Investor Presentation
Rain Industries Limited announced strong financial results for the third quarter ended September 30, 2026, with revenue rising 23% year-on-year to 54.86 billion Indian Rupees and adjusted profit after tax increasing by 77% to 2.04 billion Indian Rupees despite challenges from ongoing geopolitical conflicts and adverse logistics conditions.
The company’s adjusted EBITDA for the quarter grew 32% to 8.57 billion Indian Rupees, reflecting steady segment performance and disciplined cost management across its Carbon and Advanced Materials businesses.
Geopolitical conflicts in the Persian Gulf and Ukraine, along with a dry summer impacting European logistics, elevated energy and transport costs affecting operations. Despite these headwinds, early quarter inventory of lower-cost raw materials helped protect margins.
Safety remains a priority with a year-to-date Total Recordable Incident Rate (TRIR) of 0.22, though the company aims to lower it below 0.15 by year-end 2026. Several facilities achieved record-high days without incidents, underscoring a culture of accountability and prevention.
The Carbon Calcination business faces direct pressures from Middle East conflicts, while Carbon Distillation and Advanced Materials segments contended with increased natural gas and coal tar prices and constrained European inland waterway transport, mitigated by investments in flexible logistics infrastructure.
For the first nine months, adjusted EBITDA reached 25.65 billion Indian Rupees, a 51% increase over the same period in 2025, demonstrating the benefits of the company’s integrated operational model and financial strategies.
Highlights
- Quarterly revenue increased 23% year-on-year to 54.86 billion INR for Q3 2026.
- Adjusted EBITDA rose 32% year-on-year to 8.57 billion INR despite lower sales volumes in key segments.
- Adjusted profit after tax surged 77% year-on-year to 2.04 billion INR, equivalent to 6.05 INR per share.
- Operational challenges include Middle East geopolitical conflict and low European river water levels raising logistics costs.
- Company aims to reduce year-end Total Recordable Incident Rate (TRIR) to 0.15 or below after a YTD level of 0.22.
- Strategic investments in flexible multi-modal logistics infrastructure helped offset transport disruptions in Europe.
Key Data Snapshot
What happened
- Rain Industries reported a 23% increase in revenue to 54.86 billion Indian Rupees for Q3 2026 compared to the same quarter last year.
- Adjusted EBITDA rose by 32% year-on-year to 8.57 billion Indian Rupees despite lower volumes in certain businesses.
- Adjusted profit after tax increased 77% year-on-year to 2.04 billion Indian Rupees, or 6.05 Rupees per share.
- The results reflect the company's resilience despite ongoing geopolitical and logistical challenges impacting energy costs and raw material availability.
Key details
- Geopolitical tensions in the Persian Gulf and war in Ukraine impacted transportation fuel costs and raw material prices, especially in Europe.
- Dry European summer led to constrained inland waterway transport, raising logistics costs and requiring alternative transport modes.
- Carbon Calcination segment faced direct pressures from Middle East conflict; Carbon Distillation and Advanced Materials segments impacted by elevated natural gas, coal tar prices, and transport constraints.
- Company’s multi-modal logistics capacities and flexible raw material sourcing helped mitigate operational disruptions.
- Year-to-date Total Recordable Incident Rate stands at 0.22, with a target to reduce it below 0.15 by end of 2026.
- The nine-month adjusted EBITDA of 25.65 billion Indian Rupees marks a 51% increase over the same period in 2025.
Risks and conditions
- Ongoing geopolitical conflicts and climatic conditions pose continuing risks to supply chains, transportation costs, and raw material availability.
- Elevated energy prices and inflationary pressure on certain raw materials could persist, impacting margins in the short term.
- Company expects the challenging operating conditions to continue through the fourth quarter of 2026 unless geopolitical resolutions occur.
Regulatory and governance context
- Management provided cautionary forward-looking statements regarding projections and strategic initiatives subject to various risks and uncertainties.
- Non-GAAP financial measures were used alongside GAAP figures, with reconciliations provided in presentations.
Highlights
- Quarterly revenue increased 23% year-on-year to 54.86 billion INR for Q3 2026.
- Adjusted EBITDA rose 32% year-on-year to 8.57 billion INR despite lower sales volumes in key segments.
- Adjusted profit after tax surged 77% year-on-year to 2.04 billion INR, equivalent to 6.05 INR per share.
- Operational challenges include Middle East geopolitical conflict and low European river water levels raising logistics costs.
- Company aims to reduce year-end Total Recordable Incident Rate (TRIR) to 0.15 or below after a YTD level of 0.22.
- Strategic investments in flexible multi-modal logistics infrastructure helped offset transport disruptions in Europe.
Disclosures
- Indian Companies Act Regulations
- BSE and NSE Listing Regulations
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